Own a Static Caravan and site in administration

bubbs

Hi,
Not sure if this is in the right place? If not please can someone advise where it should be.
I own outright and live in a static caravan on a 11 month site. We have heard today that the site may be going into administration , can anyone tell me what would happen if this is the case?
Thankyou

Hintza

1. Someone will buy the business and continue as if nothing has changed.

2. It will be sold and new business set up and you will have to renegotiate your lease.

2. The park will close and anything belong to the park will be sold and then the land sold (eg for development) and you will have to leave.

If I was in your position I would confirm the rumour then start looking for a Plan B, just in case.

Forewarned is forearmed.

bubbs

Hintza wrote: »

1. Someone will buy the business and continue as if nothing has changed.

2. It will be sold and new business set up and you will have to renegotiate your lease.

2. The park will close and anything belong to the park will be sold and then the land sold (eg for development) and you will have to leave.

If I was in your position I would confirm the rumour then start looking for a Plan B, just in case.

Forewarned is forearmed.

Thanks but
1) as far as i know it has been up for sale for a while and no buyers
2) We have to pay a years rent in Jan and this is not cheap , cheapest £3,400 dearest about £5,500 so they have had that from everyone.
3) There is no way they would admit it till the last minute!

ThumbRemote

bubbs wrote: »

Thanks but
1) as far as i know it has been up for sale for a while and no buyers
2) We have to pay a years rent in Jan and this is not cheap , cheapest £3,400 dearest about £5,500 so they have had that from everyone.
3) There is no way they would admit it till the last minute!

Best case, someone will buy as a going concern (the sale price is likely to be less now they are in administration).

Worst case, the site is bust and closes down, you've lost the years rent you paid and need to move out.

You have no way of knowing what will happen at this stage.

spacey2012

I can see many of these going to the wall.
They appeared to have large amounts of people on disability benefits owning static caravans.
That game is been reeled in so the fitter disability blaggers who could travel and pleasure at caravans are going to be caught out at Atos and the parks will have no renters.
Combine this with other factors, it is a luxury, a very very inflated price luxury, often costing more than 3 holidays abroad just for rent each year.
As the financial noose is tightened, they will be the first thing to go.

I can see many parks going to the wall this year, many.

Start hoping for the best and preparing for the worst.

bubbs

Yes but we dont rent we own and most people have paid hard cash for our lodges/vans

forgotmyname

Shame all the owners couldnt club together before paying the fees. May have been enough to buy some of the land?

vaio

I guess the danger is that all the rents get paid this month and then the site goes into administration leaving lots of unsecured creditors who could also need to find a new site.

Paying the rent with credit card might give s75 protection

bris

Problem you have is that if you have all paid your rent in January there is little appeal for a new owner to buy it as a going concern because they get no rent for this year.

Likely scenario is liquidation which means selling the land and all other assets which leaves you needing a new site.

Good news is though that this could take some time, so by the time all this goes through and they get eviction papers served it could very well be next January any way so you wont lose much apart from moving the caravan which wont be cheap.

arcon5

Pay with a credit card as above.

Or make monthly payments - although the risk to this is being in breach of contract.

Speak to the park managers about your concerns?

hollydays

Read
http://www.parliament.uk/Templates/BriefingPapers/Pages/BPPdfDownload.aspx?bp-id=sn00988

And
http://www.oft.gov.uk/shared_oft/business_leaflets/unfair_contract_terms/oft734.pdf