{"id":1407840,"date":"2022-03-29T15:31:44","date_gmt":"2022-03-29T19:31:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1407840"},"modified":"2022-03-29T15:31:48","modified_gmt":"2022-03-29T19:31:48","slug":"investors-buy-mobile-home-parks-raise-rents-for-low-income-americans","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/investors-buy-mobile-home-parks-raise-rents-for-low-income-americans\/","title":{"rendered":"Investors Buy Mobile Home Parks, Raise Rents for Low-Income Americans"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finvestors-buy-mobile-home-parks-raise-rents-for-low-income-americans%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1407840&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Corporations are buying up mobile home parks across the U.S. and owners of the manufactured housing are being hit with increased rent for lots and new property requirements.<\/p>\n<p>The <em>New York Times<\/em> <a href=\"https:\/\/www.nytimes.com\/2022\/03\/27\/us\/mobile-home-park-ownership-costs.html\">focused<\/a> on one such mobile home park in Colorado to represent the trend and its impact on residents, who unsuccessfully tried to buy Golden Hills after the owners put it on the market:<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<blockquote>\n<p>In July, the owners rejected their initial offer and a higher one a few months later, and sold the park instead to Harmony Communities, a manufactured-home operator with 5,000 residents in 33 parks across the western United States. The company quickly proved the Golden Hills residents\u2019 fears correct, applying 50-percent rent increases and issuing a 12-page single-spaced list of new park rules.<\/p>\n<p>Industry leaders are blunt about the business model: According to <a href=\"https:\/\/archive.ph\/o\/zzuEJ\/https:\/\/www.mobilehomeuniversity.com\/mobile-home-park-investing-books-and-courses\/virtual-mobile-home-park-investors-boot-camp.php\">materials<\/a> for a \u201cboot camp\u201d for aspiring mobile-home park investors prepared by <a href=\"https:\/\/archive.ph\/o\/zzuEJ\/https:\/\/www.nytimes.com\/2014\/03\/16\/magazine\/the-cold-hard-lessons-of-mobile-home-u.html\">Mobile Home University<\/a>, which is run by two of the largest mobile-home park owners in the country, \u201cthe fact that tenants can\u2019t afford the $5,000 it costs to move a mobile home keeps revenues stable and makes it easy to raise rents without losing any occupancy.\u201d<\/p>\n<p>Real Capital Analytics, a market research firm, said in a <a href=\"https:\/\/archive.ph\/o\/zzuEJ\/https:\/\/www.rcanalytics.com\/spotlight-manufactured-housing-2021\">June 2021 report<\/a> that institutional investors had accounted for 23 percent of manufactured housing park purchases over the previous two years, up from 13 percent in the two years before that. That has made the investors among the country\u2019s largest landlords. Some 22 million people live in manufactured homes in the United States, according to the Manufactured Housing Institute, a national trade organization. And Fannie Mae said that manufactured housing represents more than 6 percent of the nation\u2019s housing units.<\/p>\n<\/blockquote>\n<p>The <em>Times<\/em> noted families and college students turn to mobile homes as an affordable way to become a homeowner.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cIt is, and has been historically, an affordable home that people can own \u2014 at least, halfway own \u2014 and generate some wealth, some equity,\u201d Paul Bradley, president of ROC USA, which supports resident-owned communities across the country, said.<\/p>\n<p>In Colorado, legislators put in place a law to give park owners an \u201copportunity to purchase\u201d but only three properties have become resident-owned in the state.<\/p>\n<p>State Rep. Andrew Boesenecker, whose district includes a recent $57 mobile home park transaction, introduced a new bill that would give residents the right to make the first offer, according to the <em>Times<\/em> report.<\/p>\n<p>The bill would also limit rent increases to 3 percent a year and give owners access\u00a0to a loan fund that would allow them compete with private equity firms, some of which\u00a0receive government financing to purchase parks.<\/p>\n<p><em>Follow Penny Starr on <a href=\"https:\/\/twitter.com\/PennyStarrDC\">Twitter<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Corporations are buying up mobile home parks across the U.S. and owners of the manufactured housing are being hit with increased rent for lots and new property requirements. The New<\/p>\n","protected":false},"author":18,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1407840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1407840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1407840"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1407840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1407840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1407840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1407840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}