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Inaugural Issue
Iowa City approves funding to rehome people living in Forest View Mobile Home Park and a Southern California city to draft a mobile home rent stabilization ordinance (shocker!)
Christopher Ebert
June 09, 2022
Good morning, grab a cup of coffee and let's jump right in…
We are pleased to launch the MHC weekend. A monthly newsletter providing you all of the important news and events happening in the manufactured housing industry.
We felt the industry was missing a centralized news source and so the MHC weekend was born. Like the large MHC players in the space, we are looking to bring a little consolidation into a fragmented market, albeit on the news front.
We welcome any feedback on content so please don't hesitate to reach out - [email protected]
Enjoy!
What We Are Reading
IOWA CITY approves funding to rehome people living in Forest View Mobile Home Park
IOWA CITY, Iowa (KCRG) - The City of Iowa City will vote Tuesday on a resolution that would give assistance funds for every household residing in Forest View Mobile Home Park to relocate...
Southern California City To Draft Mobile Home Rent Stabilization Ordinance
After complaints from a seniors-only development that saw a sharp rise in rents in recent months, Torrance will consider an ordinance limiting rent increases for mobile home park residents...
Mobile home park owners react to city proposed water meter ordinance
“In the past, we’ve proven we don’t have any leaks. We’re willing to do that again. We want the system the taxpayers have already paid for to be in effect and used. Use those individual meters...
Recent Acquisitions
Cook Properties Buys 2,300-Pad MHC Portfolio
With this deal, the buyer becomes New York state’s largest owner-operator of manufactured housing communities. A partnership between Cook Properties and Waterfall Asset Management has acquired a 2,300-pad manufactured housing portfolio across New York State. Affordable Great Locations sold the 54-manufactured housing community collection, which also features a full-service sales center...
RHP properties announces acquisition of manufactured home community in highly desirable Florida community
RHP Properties, the nation's largest private owner and operator of manufactured home communities, has announced the acquisition of a manufactured home community in Sarasota, Florida. This expands the company's manufactured home portfolio to 37 communities in the state and brings the company's total of manufactured home communities to 312 nationwide. The announcement was made by Ross Partrich, CEO, RHP Properties...
UMH Properties, Inc. completes acquisition of Pennsylvania manufactured home community
UMH Properties, Inc. (NYSE: UMH) closed on the acquisition of a manufactured home community located in Butler, Pennsylvania for a total purchase price of $7.4 million. This community contains 132 developed homesites. It is situated on approximately 65 acres. Additionally, there are 38 entitled sites for future development and 18 sites that are owned by residents who pay a common area maintenance fee...
Marketed Deals We Like
Price Summary: $9,000,000 | Number of Lots: 128
Current Average Lot Rent: $325 | Lots: 57 | POH: None
Number of Sites: 75 - 125 | Purchase Price Per Site: $72,000 - $120,000 | Target Price: $9,100,000
LP Opportunities of Interest
“BoaVida” is the “good life” and the group of companies operate as fully integrated owners and operators of good life oriented properties consisting primarily of mobile home communities and recreational vehicle resorts and campgrounds. The business model is to lease the land to residents who place mobile homes, cottages, cabins or RVs either permanently or on a long- or short-term basis. This model creates low maintenance cost and low customer turnover. The properties attract families, retirees, vacationers and working professionals while providing a low cost of home ownership.
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Proptech on Our Radar
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What Else Are We Reading?
How Nashville’s wild housing market is causing a ‘second displacement’ for some immigrants
José Ricardo Ballona's monthly housing costs have doubled since he was forced to leave his old mobile home park in Nashville. He now lives farther away from services and amenities that were once walking distance from his home.
Tenants of Newport News mobile home park being forced out due to declining infrastructure
NEWPORT NEWS, Va. – Dozens of people living in a mobile home park behind the Newport News/Williamsburg International Airport are being forced out of their homes.
Pleasant View mobile home residents face eviction, uncertain future
The eviction order looming over the heads of the residents at Wasatch View Estates, a Pleasant View mobile home park, has some of the tenants worried, unsure where they’ll go or what they’ll do.
Kalispell Council considers neighborhood’s grant request
Kalispell City Council on Monday will officially consider a request to submit a grant application on behalf of a resident-owned manufactured home community that is looking to connect to city sewer system.
Barriers to Mobile-Home Parks Cruelly Limit Affordable Housing Supply
As we watch rent and home prices soar around the country, it’s easy to forget that the U.S. housing market includes far more options than just luxury condo towers and single-family homes.
More News To Read
Iowa City City Council to allocate more American Rescue Plan Act funds to city nonprofits. Read the news →
Lewes to consider Donovan-Smith annexation request. Read the news →
Santa Maria mayor, city manager agree to discuss mobile home rent stabilization. Read the news →
Fort Collins mobile home community plagued by tainted tap water. Read the news →
Raising the Bar – Freddie Mac’s New Duty to Serve Plan. Read the news →
Mobile park residents threatened with eviction so Jackson County can build its new jail. Read the news →
Tornado damage survivors in mobile home park plea for help. Read the news →
Manufactured Home Community Bill Expected to be Signed into Law. Read the news →
Management training could benefit mobile home park residents. Read the news →
Class action settlement in Attleboro mobile home rent case to go to judge for final approval, lawyer seeks those eligible. Read the news →
Colorado House advances mobile home protection bill without rent control provision. Read the news →
At Hearing, U.S. Senator Elizabeth Warren ‘Blasts’ Wall Street for Buying Up Manufactured Home Communities, Trapping Tenants, and Worsening Housing Affordability Crisis for Seniors. Read the news →
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A vertically-integrated owner and operator of manufactured housing communities with a focus on strong MSAs desperately in need of affordable housing.