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A manufactured home community in Albany is now owned by the people who live there. In June the residents of Albany Acres bought the property from former owner Patrick Houghton of Ranger Properties LLC.
To buy the property, residents formed a cooperative and will now run the community as a not-for-profit corporation.
“They purchase the land and infrastructure underneath their homes, and they run it as a democratic business in perpetuity afterwards,” Sarah Marchant said.
She is the chief operating officer and senior vice president of the resident-owned communities program at the New Hampshire Community Loan Fund, which provided financing...
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Armstrong said rent, which was $455 under Houghton, will go up to $600 to pay for the improvements…
OK, time out. You’re telling me that the residents – via a non-profit – bought their mobile home park to stop the big, bad landlord from buying it and raising the rent … and then they raised the rent on themselves, day one, up $145 per month? That’s the dumbest story ever. A professional landlord would have only raised it probably $50 a pop for three years to get to that same level. Morons.