Jordan Lee is proud of his Utah house, his auto lift and his 86-inch television. His tenants at Fair View Mobile Homes in Talala aren’t doing as well.
After Lee’s company, Cash Flowing Investments, bought the 61-unit trailer park in July, Frank Myers’ rent jumped from $540 to $750 in November. That’s a 40% increase for a trailer with a broken window, electrical shorts and a propane leak.
The increase came through a rent-to-own scheme. Alyssa Hardesty was told her trailer, which has mold and non-working lights, would cost $19,800 over five years. She refused and received an eviction notice. Tonya Schondel faced an $18,000 price tag for a unit where only half the electricity works.
Legal Aid Services says the leases likely violate Oklahoma law. They invoke Indiana statute, allow entry without notice, impose 24% interest on unpaid balances and require departing tenants to pay a year’s lot rent if they move their own trailer.
Lee operates properties in six other states. He seeks investors while pursuing what he calls a business model. His Talala tenants call it something else.
“They are nothing but thieves and scammers,” Myers said. “They are slumlords.”
Read the story by Elizabeth Caldwell and Jake Ramsey.
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—J.C. Watts
Ciao for now,
Ted Streuli
Executive Director, Oklahoma Watch
tstreuli@oklahomawatch.org
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