Mobile home residents buy their mobile home park
Resident Owned Communities
If you have ever desired to buy the park you are living in, or if your park is currently for sale, check this out.
Resident Owned Communities USA is a company that helps mobile home park sellers and their residents complete a purchase and conversion from a rental park to a Resident Owned Community.
This is a huge benefit to both sides - the owner of the park sells the park and the residents buy it and now control it.
Visit the ROCUSA webstite here: http://www.rocusa.org
To get a sense of what they are all about, here are their goals taken from the website:
"The reason we exist is to make quality resident ownership possible nationwide.
When a manufactured home community or “mobile home park” is for sale, ROC USA® seeks to provide homeowners who are working together as a democratic organization with the opportunity to purchase their community.
ROC USA also provides groups with on-going technical, training and networking support to help them build value and be successful over time.
Our goals are to:
• Preserve and improve affordable communities;
• Build assets for low- and moderate-income families and individuals; and,
• Support mutually-supportive communities and leaders."
For more info visit: http://www.rocusa.org/about-us/mission-and-goals.aspx
For residents, this is often a blessing as they now can control the income and expenses of the park they live in, thus guaranteeing that their rent only goes up when expenses go up, and not to be an income for an owner or investor.
For owners of mobile home parks, this is a great way to sell your park. Typically the residents are willing to pay top dollar for the park as they stand to benefit from ownership.
Check out Resident Owned Communities USA for information on how they can help. Basically they are the grease that helps get the parties talking and negotiating. And they are experts in getting this kind of transaction completed, so they know where the landmines are.
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