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Central Maine: Waterville approves mobile home park lot rent stabilization ordinance

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WATERVILLE — The city now has the power to intervene when mobile home park owners want to raise lot rental costs to park residents.

When, for instance, park owners want to increase rents by more than the last Social Security cost of living adjustment, park owners must attend a hearing with a city rent stabilization board. Park owner must also submit a petition for lot increases to the city and park renters, including supporting documents, to justify the increase. Hearings must begin within 30 days of a park owner petition.

These are just some of the requirements mandated in a new city mobile home park lot stabilization ordinance the City...

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If mobile home park owners want to raise lot rents by a certain amount they must submit a petition to the city and park renters.

Here’s a better idea if you own a park in Maine. Find a different use for your land, tear down the park, and go into another line of business. There’s no way any park owner should have to grovel to keep their rents at market levels. It’s insulting. Clearly the state does not appreciate the great things that park owners do to provide the only form of non-subsidized affordable housing. Maine ranks near the bottom of the list among all states in everything from economic vitality to education to quality of life and population growth. Clearly Maine’s leaders are incompetent and this new rent control plan is just the latest in an endless list of blunders.

Florida Politics: Sweetwater OKs Flagler Center District, clearing way for redevelopment of former trailer park

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Plans for the project include more than 5,000 residential units alongside several hundred thousand square feet of retail and office space.

Sweetwater officials have approved a new zoning framework, clearing the way for the long-planned redevelopment of a former trailer park property.

City Commissioners voted unanimously to create the Flagler Center District, a major step toward redeveloping roughly 105 acres at Flagler Street and Northwest 112th Avenue into a dense, mixed-use community anchored by housing, jobs and transit access.

The decision establishes a new land-use and zoning category that developers say unlocks one of the most...

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And another park bites the dust.

Mitchell Now: Mitchell City Council Approves $1 Transfer of Former Mobile Home Park Site for Owner-Occupied Housing Project

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MITCHELL, SD (Mitchell Now) — Mitchell city leaders approved transferring the city’s former mobile home park property on First Avenue to the Mitchell Area Development Corporation for $1 to move forward with a new housing development.

The Mitchell City Council voted 7-1 on Feb. 2 to approve the redevelopment agreement for the First Avenue site, according to the Mitchell Republic. The plan calls for 24 owner-occupied homes — 10 single-family villa-style homes and 14 ranch-style townhomes — with a deed covenant requiring the homes remain owner-occupied for at least 10 years after the initial sale.

The project is expected to be built by Sioux...

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And another park bites the dust.

WGAL: Lititz mobile home residents forced to leave homes as property is repurposed

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LITITZ, Pa. —

Residents of Plateau Village Mobile Home Park in Lititz are in shock after receiving a notice from United Zion Retirement Community that the property will be repurposed into new independent cottages, leaving them less than a year to find new homes.

Feelings of despair and distress

Kelly Horst, a resident of the community, expressed her distress, saying, "My house is not a palace, but whether you live in a condo, car, cabin, it's your home, and I'm losing my home."

Horst, who cares for her husband Troy, who has dementia, finds the prospect of relocating unsettling.

"To relocate someone who has a disease such as dementia. It's...

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And another park bites the dust.

News Centre Maine: Jay Select Board receives plan for mobile home park rent control, sets budget amounts

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JAY, Maine — The Jay Select Board reviewed a proposed ordinance Wednesday night that would impose a moratorium on rent increases for mobile home lots.

If certified by the board, the ordinance would go before voters at the annual town meeting April 28.

The board also met with the town’s Budget Committee before the regular Select Board session and approved 16 expanded spending articles for the fiscal year ending in 2027 to be placed on the annual town meeting warrant.

The board meeting was postponed to Wednesday from Monday because a storm dropped as much as 15 inches of snow on Jay, Livermore Falls and Livermore.

The moratorium on...

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“The bargain struck between landlord and tenant is always advantageous to the former in the greatest possible degree.... Besides the advantage he derives from the nature of the case, he derives a further advantage from his position, his larger fortune and greater credit and standing”.

That’s a quote from Karl Marx, the founder of communism. Folks in Maine sound more and more like him every day, which is odd for a state that was originally based on the concept of hard work and not handouts. What a disappointment Maine has become on all fronts. It comes in near the bottom of all states in everything from economic strength to education. Clearly, whatever their leaders are doing – including the new rent control push – is not working. Of course, it hasn’t gone well for most Marx advocates in the past.

MTFP: Rent hikes hammer residents of Helena trailer court

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Small details around Lynne Weinacker’s home illustrate a daily story — one about getting by on very little. Plastic containers labeled “flour” and “pancake” are stacked neatly on her kitchen counter, filled with bulk goods. The crate for her rambunctious dog, Ginger, fits like a puzzle piece under her kitchen table.

Over nearly 20 years, Weinacker has made the two-bed, one-bath trailer in the Golden Estates Mobile Home Park a cozy home. She bought the trailer on Helena’s eastern edge, across the highway from Walmart, for about $5,000 around 2007. 

For years, the rent Weinacker paid for the land beneath the trailer was manageable, the...

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Here’s an important announcement for all woke journalists: Montana is trifecta red. It has a Republican Governor, Senate and House. There is literally a 0% chance of ever enacting rent control. So you need to go somewhere else with your socialism pandering. Maine would be a good place. Pack up all your worldly goods in a U-Haul, jump on I-90, and you can be there in 35 hours.

Spokesman: Lawsuit filed in Spokane County seeks to block recently passed rent control bill

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OLYMPIA – Lori and Guy Miller envisioned a 14-lot property in Spokane Valley as part of their retirement plan when they purchased it in 2012.

However, they say a new law that caps by how much landlords can increase rents on a yearly basis prompted them to sell the property last year after they determined it was no longer feasible to keep it.

“They’re making it impossible to operate, and that’s bad for affordable housing. That’s terrible for the people that can afford it the least,” Guy Miller said in an interview. “I mean, it sounds like it’s a good thing, it has terrible consequences.”

The law, which took effect last year, caps yearly...

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Finally, someone has the guts to stand up to the Washington socialists. But what a shame that it has to go to that extreme simply to protect their property rights. What a nasty state.

The Mercury News: https://www.mercurynews.com/2026/01/30/fierce-backlash-prompts-san-jose-to-punt-mobile-home-park-ordinance-that-would-allow-raised-rents-and-passed-on-costs/

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San Jose has pumped the brakes on changes to its mobile home park ordinance after fierce backlash from residents, who derided a proposed one-time,10% rent increase and accused city leaders of ignoring their concerns when crafting the new rules.

Under the proposed changes, the rent increase would be triggered when a home is sold, a rental registration would be required and specific procedures would be adopted to solve rental disputes. Landlords also would be allowed to pass on capital improvement costs to residents.

​With its 58 mobile home parks — which collectively have over 10,000 spaces and represent a significantly cheaper housing...

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Sure, stop all rent increases forever. Why not make landlords reduce their rents 10% annually instead? Why not end private property completely and just take it from the owners and give it to the tenants?

I know these city council people know better than to embrace this socialist nonsense, but they simply don’t have the guts to stand up to the screaming mob. What a bunch of cowards.

Yahoo! News: A Housing Shake-Up in Virginia: New Bill Takes Aim at Zoning Barriers for Manufactured Homes

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Virginia’s housing affordability earns a B-, according to the Realtor.com® State-by-State Housing Report Card. But a new bill moving through the state legislature could raise that grade by unlocking access to one of the most overlooked forms of affordable housing: manufactured homes.

Despite offering homeownership at a fraction of the cost of traditional site-built houses, manufactured housing has long been sidelined by stigmas that date back to outdated, pre-1976 construction standards. That’s left these homes off-limits in many communities even as demand for affordable housing has soared.

“Virginia’s got a problem,” Democratic state...

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Homes built after June 1976 must comply with U.S. Department of Housing and Urban Development (HUD) standards for safety, durability, and energy efficiency, making modern manufactured homes a fundamentally different product from the mobile homes many local zoning codes were written to exclude.

I know the MH industry thinks it’s making headway with mantras such as this, but you are NEVER going to weaken the stigma against the mobile home product with the concept that these things are “fundamentally different” from “trailers” of the past. The only way you’re ever going to get Americans to like the product is to create radical new designs that people like to look at and aspire to live in. The “tiny home” movement only works because they look nothing like mobile homes. Same for the 3-D printed home prototypes. Beauty may be only skin-deep but that’s the part the industry is lacking in and has caused the stigma to begin with. Fix that, and you have a chance of getting more appreciation from the public. Harping on things like “energy efficiency” turns on absolutely no one.

Yahoo! Finance: Woman shocked by 70% rent hike at mobile home park as investor takes over. And she can't reach anyone to ask questions

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Over 22 million Americans now live in mobile homes, drawn by lower upfront costs and simpler construction (1). But that refuge is increasingly under threat. Mobile home parks across the country are being snapped up by institutional investors who see them as low-risk, high-return assets. It’s a shift that’s often followed by sharp rent increases for residents who can’t easily move.

That reality hit home on January 1 for residents of a Louisville mobile home park in Blount County, Tennessee. One tenant, Sherry Russell, said she was notified that her lot’s rent would jump 70% starting February 1.

“It’s been a little over a week now, and I’m...

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Mobile home parks across the country are being snapped up by institutional investors who see them as low-risk, high-return assets. It’s a shift that’s often followed by sharp rent increases for residents who can’t easily move.

Let’s explore this quote, which is based on the standard narrative of the “Free Rent Movement” advocates.

Yes, mobile home parks are being bought by institutions because they have a far superior business model to apartments. Why? Because apartments are subject to overbuilding and oversupply while there have been nearly zero new parks built in the last 50 years due to city and town zoning restrictions. It’s called “supply vs. demand”.

Yes, when professional investors buy mobile home parks, they tend to raise the rents to market levels, unhindered by what mom and pop has done in the past. With mobile home park lot rents averaging around $400 per month nationally -- despite apartments at $2,000 per month and single-family at $400,000 – there is no question that lot rents are way, way too low and need to go up substantially. Liberals should not forget Kamala Harris’ beloved catchphrase “what can be, unburdened by what has been" because if that was true for her dreams then it’s just as true for setting lot rents at appropriate levels by legitimate businesspeople.

No, the media is once again taking their favorite quote out of context when they claim the problem is that the residents “can’t easily move”. This has nothing to do with the mobile homes not being “mobile”. Instead, it’s all about there not being any options cheaper than the mobile home park, even after the rents go up. Studies have shown that mobile home park lot rents went up at half the speed of inflation since the 1960s, while all other housing went up by twice the amount of inflation. That’s the whole issue. Mobile home park residents received an outrageous discount on rent for decades and now don’t like paying the prices they should have been paying all along.

Press Herald: Biddeford council votes against moratorium on mobile home lot rent increases

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The Biddeford City Council on Tuesday shot down a proposed 90-day moratorium to freeze mobile home lot rent increases, despite the pleas of residents who say they’re scared that rising prices may force them out. 

The council rejected the moratorium by a 6-3 vote, with councilors Brad Cote, David Kurtz and Abigail Woods supporting the proposal.

Mobile home residents — particularly those living at Granite Estates, a park for those 55 and older — implored the councilors Tuesday to pass the moratorium, saying the lot rent increases have gotten more expensive each year. 

Granite Estates residents said the park used to be affordable, but since...

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At-large Councilor Marc Lessard said limiting park owners from raising rent would create a slippery slope. “I know some people might disagree with me, but this is just a path to control businesses on investment,” Lessard said. 

At least most of the city council people in Biddeford, Maine understand what socialism is and have no interest in embracing it.

Spokane Public Radio: As Washington gets sued over rent control, another question emerges: What happens if mobile home parks sell?

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A group that represents manufactured housing park owners filed suit against the state of Washington over rent control.

In its lawsuit filed last week, Manufactured Housing Communities of Washington says the state’s rent control law, which passed last year, is already forcing their parks to shut down.

Though most people own their manufactured homes, they typically rent the land underneath them. The law now caps increases to those “lot” rents to 5% per year.

The organization says this makes it unfeasible for owners to operate parks and make enough profit. MHCW says it’s especially difficult that there’s no appeal process if owners have to...

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A group that represents manufactured housing park owners filed suit against the state of Washington over rent control. In its lawsuit filed last week, Manufactured Housing Communities of Washington says the state’s rent control law, which passed last year, is already forcing their parks to shut down.

Ah, yes, this is the moment that the Washington socialists have been dreading, the exposure of that most basic rent control issue: park owners simply redeveloping their properties into uses that don’t have rent control. You see, that’s the problem with this whole socialist narrative in a country that still has capitalist freedoms. You can’t successfully have rent control if property owners still have the freedom of choice to simply take their marbles and go home. Watch for a huge number of mobile home parks in Washington to disappear soon.

CBS NEWS: Bell residents protest city's plan to redevelop mobile home parks

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Hundreds of Bell residents protested against the plan to close two mobile home parks during the city council meeting on Wednesday. 

The city of Bell owns both of the mobile home parks, which house about 300 families. The plan aimed to redevelop the land into new affordable housing, senior homes, retail, restaurants and entertainment spaces. 

Residents expressed their concern that they'll lose their homes and possibly be priced out of their neighborhoods.

"A lot of folks just found out about this decision," protester Clarisa Perez said. "A lot of folks are scared to lose their homes, especially during this holiday season."

In a statement,...

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And another park bites the dust – times two.

Click Orlando: Florida lawmakers want mobile home park owners to justify rent increases. These are the bills under consideration

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Florida lawmakers are considering sweeping legislation that would require mobile home park owners to justify rent increases and boost relocation assistance for displaced residents, potentially affecting more than 800,000 mobile home residents across the state.

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If Ron DeSantis does not veto this socialist agenda, then he’s absolutely pathetic. I would expect this in California but not in Florida. WTF.

San Jose Spotlight: UPDATE: San Jose council delays mobile home rent increase

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Some of the last naturally affordable housing in San Jose may be preserved, after officials deferred a proposed rent increase in mobile home parks.

The City Council voted 10-1 Tuesday to delay a proposed 10% space rent increase whenever a mobile home is sold and engage in community meetings with residents and park owners to develop a mutual agreement. District 7 Councilmember Bien Doan voted against the delay because he wanted to reject the rent increase altogether.

Councilmembers asked staff to analyze the proposed rent increase and return back to council in the fall.

Under the existing policy, property owners are allowed a 3% to 7% rent...

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“What I feel is betrayed,” Commissioner Daniel Finn, who represents mobile park residents and lives in a mobile home, told San José Spotlight.

They ask the owner of eight mobile home parks their opinion on rent increases because they would obviously be a more knowledgeable authority on such things than a crackpot single resident in a park that would clearly be averse to even a $1 increase. This is not a form of betrayal but simply good, common sense. Can you imagine asking a McDonald’s customer if they are happy with the McChicken going from $1 to $3? No, you’d talk to the franchisees to get the true picture.

Housing Wire: Manufactured housing gains traction, but negative stigma persists

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As the housing market prices out more and more Americans, federal lawmakers are taking a closer look at manufactured housing as a more affordable supply-side alternative to a traditional stick-built home.

Nevertheless, misconceptions about new manufactured housing communities — that they are dilapidated, ugly, or unsafe — continue to beleaguer a segment of the single-family, detached housing market that is currently home to 7.2 million U.S. households. 

Legislators in both parties increasingly see manufactured homes as a crucial way to boost housing affordability. The Affordable HOMES Act, which the U.S. House of Representatives passed...

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Among local concerns are commonly held assumptions that manufactured communities reduce neighboring property values and negatively affect an area’s aesthetics, crime rates, and additional infrastructure costs. AscentDS’s Kim said these views are often misguided. 

Look up any mobile home park on Zillow. Look at the price of a single-family home right next to the mobile home park. Then look at the price of an identical home a block from the mobile home park. The home next to the park is about 20% less. It’s simply a fact that Americans don’t like living next to mobile home parks. Rather than insult everyone’s intelligence, why not just tell it like it is? Nobody wants to live next to affordable housing, whether it’s mobile home parks or apartments. Mayors, city councils, zoning departments and homeowners across the nation all know this. And that’s why there will never be any new permits ever issued for mobile home parks in any city in which people would want to live.

WINK: Fixed income, rising rent, and the cost of safety: inside a mobile home community

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BONITA SPRINGS, Fla. –  Bob Kiefer loves his home in the Southern Pines community in Bonita Springs. He says neighbors look out for one another, but living in Southwest Florida has become increasingly expensive.

“Community is great here. Everybody takes care of each other,” Kiefer said.

Kiefer bought his manufactured home in 2019. Since then, he says his rent has nearly doubled.

“It went from $540 to $790, and we're paying $970 right now. So it's just about doubled in six years. That's a lot of money,” he said.

With rent rising, Kiefer says his budget is stretched thin –  even when it comes to food.

“We have to shop at four or five...

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“There's a lot of people in here that just are living on Social Security and that's it. And they just. It's not affordable.”

Perhaps it’s time to admit that living in Florida is probably not the best idea for someone living on Social Security. Florida has high living costs in every category, most notably insurance. If you are living on the $1,200 a month that the average Social Security recipient receives, then you should live in the Midwest where things cost 50% less. If you choose to live in Florida – despite the extremely high cost – then don’t complain about it because YOU made that decision. I’d love to fly first-class but I can’t rationalize it. If I did fly first-class I’d look pretty dumb if I complained the entire flight about how much it cost. It’s called “personal accountability”.

News 4 JAX: Florida lawmakers want mobile home park owners to justify rent increases. These are the bills under consideration

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TALLAHASSEE, Fla. – Florida lawmakers are considering sweeping legislation that would require mobile home park owners to justify rent increases and boost relocation assistance for displaced residents, potentially affecting more than 800,000 mobile home residents across the state.

The identical House Bill 703 and Senate Bill 1550, known as the “Mobile Home Park Lot Tenancies” bills, were filed by Rep. Paula Stark (R-St. Cloud) and Sen. LaVon Bracy Davis (D-Ocoee), respectively. The legislation would implement new protections for mobile home residents beginning July 1, 2026, if passed.

“I need things done, like physically done to the...

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I’ve been getting a lot of calls from Florida park owners befuddled on how their red state has shifted so extremely blue over the past few years when it comes to tenant laws. I couldn’t agree more – Ron DeSantis has apparently lost his mind. If he had any backbone he would theaten to veto all these bills and shut them down immediately, yet he continues to sign them into law. Can there be a more socialist agenda than asking private park owners to beg to try to increase their rents? In a red state? WTF.

KESQ: Residents allege illegal rent notice practices at Palm Springs mobile home park

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PALM SPRINGS, Calif. (KESQ) - Homeowners at a Palm Springs mobile home park claim management violated local rent control laws by failing to properly notify residents of a 2026 rent increase.

Residents at Palm Springs View Estates say required written notices were not mailed in October 2025, which would have allowed the increase to take effect February 1, 2026. Instead, management allegedly attempted in January to deliver backdated notices by clipping them to or placing them in mailboxes—actions homeowners say are illegal and invalid.

Residents argue that under California Mobile Home Residency Law and the city’s Rent Control...

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During their retreat back to Berlin in 1944, the German army cut down a massive number of trees to block the roads and slow the U.S. and Russian troops down. It didn’t alter the end result, but maybe it held back the Allied victory by a few days. Delaying a rent increase by a couple months on a technicality is not quite a worthwhile effort, but if it gives the tenants some perverse sense of victory then who cares?

Le Soleil de la Floride: REAL ESTATE: PROPOSED BILL TO STRENGTHEN THE RIGHTS OF MOBILE HOME OWNERS

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Paula Stark, Republican representative for St. Cloud in the Florida House of Representatives, has introduced a bill to strengthen protections and clarify the rights of mobile home owners. She states: « This bill updates how lot rent increases are determined, improves transparency in billing and payments, and strengthens enforcement mechanisms. Mobile home owners are a critical part of our communities, and this bill helps ensure fairness and accountability in lot tenancies. »

Democratic Senator LaVon Bracy Davis of Ocoee has also introduced similar legislation aimed at clarifying what can be considered an unreasonable rent...

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If a rent increase is demanded, it would have to be justified by documents such as invoices or material facts proving that there has been an increase in costs and expenses for the landlord. Similarly, the rent would have to be reduced if a service or facility no longer works or is no longer available to the tenant.

If Ron DeSantis does not veto this socialist crap then he’s not worthy of keeping his job. I don’t live in Florida, nor do I have any mobile home park interests there, but if you do then you need to get on the phone and call your representatives and tell them how unacceptable this is.

Timmins Today: Timmins mine gives notice to mobile home residents

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TIMMINS - A local mine is planning how to grow and has given notice to residents of a south-end mobile home park that they'll need to move. 

The area currently housing Fairway Village on Moneta Avenue, just west of Vipond Road, is converting to non-residential use by Jan. 31, 2028, Discovery Porcupine has announced. 

"This action is necessary as we plan additional growth initiatives that will contribute to job creation, new business opportunities for local suppliers and investments in the Timmins community. As a result, we have informed residents of Fairway Village that, by the end of January 2028, we will need to end their tenancy,"...

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And another park bites the dust.

Taunton Daily Gazette: Taunton officials push for relief from soaring insurance bills

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A contingent of current and former elected officials from Taunton testified at a state committee hearing, coming together to express support and ask for movement on tackling lack of affordable homeowners insurance for manufactured homes. 

State Sen. Kelly Dooner, R. Taunton, filed a bill S.2738, "An Act Addressing Rising Insurance Costs for Manufactured Home Residents," to address the problem.

If passed, it would establish a commission “to investigate the availability, affordability, and regulatory treatment of homeowners insurance” for manufactured homes in Massachusetts, according to the language in the... Read More

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State Sen. Kelly Dooner, R. Taunton, filed a bill S.2738, "An Act Addressing Rising Insurance Costs for Manufactured Home Residents," to address the problem. If passed, it would establish a commission “to investigate the availability, affordability, and regulatory treatment of homeowners insurance” for manufactured homes in Massachusetts, according to the language in the bill. 

Does anyone reading this think it’s anything more than a total waste of time? Only an academic idiot would think that talking about rising prices will, in any way, lower them. It won’t.

WATE: Resident sees 70% rent increase at Louisville mobile home lot

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LOUISVILLE, Tenn. (WATE) — Mobile home living was always considered affordable, but more and more mom-and-pop mobile home communities are being purchased by institutional investors who see the parks as lucrative, low-risk investments, leading to significant rent hikes.

Owners and renters at a mobile home park in Blount County were informed about the sale of their community on the first of January. One resident, Sherry Russell, found out that her lot rent would increase on February 1 by 70%, and within six days of taking over ownership of the trailer park, the new owner sent her a notice saying her lot payment for January was late, but she...

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One resident, Sherry Russell, found out that her lot rent would increase on February 1 by 70%, and within six days of taking over ownership of the trailer park

Woke writers always try to use hyperbole and focus on simply the percent of increase instead of the nominal amount. Yes, it looks like it went up 70%. But 70% was only around $250 per month as the rent was ridiculously low. Now $250 may sound like a lot, but that’s a fraction of what apartment rents have gone up, as well as health insurance and auto prices. Remember that the McChicken went up 300% in one year but it’s still the cheapest thing on the McDonald’s menu.

But here’s the most important point. Kentucky is trifecta Red and, as a result, the chances of rent control are absolutely zero. This writer needs to focus their socialist whining attention on trifecta Blue states, like Maryland and Massachusetts, where it might actually have some impact. I know that “you miss 100% of the shots you don’t take” but sometimes taking a really dumb shot makes you look just stupid.

News Center Maine: Norway Commons residents ask Select Board to consider rent stabilization moratorium

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NORWAY, Maine — Residents of Norway Commons, a manufactured home community for those 55 or older, attended a Select Board meeting Thursday to protest what they said were rapidly rising lot rents and urged the board to consider rent stabilization measures.

Sharon LeBlond, who lives at Norway Commons, stood before and asked selectmen to consider drafting a moratorium to address lot fees and rent.

LeBlond said that while the lot increases are legal, they are “overboard” and make it harder for residents to afford living at the park, owned by Sun Communities.

“The situation is such that many of the people who live in the community can no...

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Residents of Norway Commons, a manufactured home community for those 55 or older, attended a Select Board meeting Thursday to protest what they said were rapidly rising lot rents and urged the board to consider rent stabilization measures.

Week after week the Maine media is doing a blitz to convince you that socialist rent control is mandatory in that tiny, irrelevant state. Maine is such a disappointment, ranking in the bottom ten states in economy, education and population growth. Clearly their leftist policies are a complete failure. If they pass rent control in Maine then the housing stock will go down the drain and/or be redeveloped. But in a state that can do nothing right, why not?

Homes and Community Renewal: New York State Homes and Community Renewal Announces Tenant-Led Acquisition of Essex County Manufactured Home Park

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Preserves Homeownership for Up To 165 Households

New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas today announced that tenants at Cascade Acres Manufactured Home Park in the town of North Elba, Essex County, formed a partnership with a local affordable housing developer to purchase the 165-unit Park from their landlord, ensuring the long-term affordability of the community. The residents successfully exercised a provision under New York State’s Right of First Refusal law to prevent the community from being sold to a private equity firm. The successful sale of Cascade Acres marks the first time the...

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The purchase is supported by a $4.7 million loan from HCR’s Manufactured Home Advantage Program, a $420,000 loan from the Village of Lake Placid, a $1.6 million loan from Champlain National Bank, and an equity investment from Mr. Montag. Homestead Development Corporation partnered with the Homeowners Association to assist with administrative work required for the purchase.

Now that sounds like a solid financial footing, right? Anyone want to bet that, five years from now, this “Frankenstein” lending construction has completely collapsed, and the park is back on the market? Non-profits don’t seem to realize that anything other than a legitimate long-term mortgage from a reputable lender is simply a quick fix that never holds together. I would refer people to the recent loan defaults on no less than four tenant-owned parks in Colorado as evidence of this fact. If the non-profits want to inject real non-refundable money and get a real 10-year conduit or agency loan based on actual net income, I can respect that. But instead they never want to actually commit for the long term – just enough to get their 5 minutes of virtue signaling fame and then move on.  I wish someone would track these “tenant-owned” deals and see how many actually make it over the long term. It can’t be many.