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Meadows of Morinville | August 2nd, 2017

Considering Land-Lease? Questions to Ask the Developer

Before you buy your new home, you’ll want to make sure that you are confident with your choice of development.  Ask lots questions and make sure you’re comfortable with the answers. Here are our top 5 recommendations…

ABOUT THE DEVELOPER…

Ask questions about the background of the developer, where they are located and similar projects they’ve completed. This will give you some insight into whether you’re working with a local company, their achievements and their history in the industry.

LEASE RATE INCREASES…

You’ll want to know what the lease rates will be, over time. Ask questions like:

  • Historically, how often do they do lease rate increase?
  • When the rates do rise, what is a typical increase?

RULES AND REGULATIONS…

Ask for a copy of the Rules and Regulations for the Community and read through them prior to purchasing. You’ll want to be sure you’re comfortable with each item.

COMMUNITY MANAGER OR PROPERTY MANAGEMENT COMPANY…

Both systems work well, but an onsite Community Manager tends to be more hands on with Resident Relations and Maintenance, if those things are important to you.

TESTIMONIALS FROM EXISTING RESIDENTS…

Any company can invest in a clever marketing program. Ask for real testimonials of current residents to get a true picture of what it’s like living in the community.

Choose a Better Lifestyle.

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