A Connecticut Fair Rent Commission can limit rents if it finds the rent to be “harsh and unconscionable”; the Minnesota Attorney General’s Office doesn’t want tenants to do "time-consuming and expensive" home repairs; and the Yampa Valley Housing Authority might buy a park.

Enjoy!

What We Are Reading

The Goods - Manufactured Housing

A Lively Debate, as Mobile Home Rents Drive Approval Fair Rent Commission in Killingworth

Residents voted on Wednesday by a margin of 91-25 to approve the creation of a Fair Rent Commission in Killingworth after a 45-minute debate on the amount of power the commission would have to prescribe rental rates and the impact on town legal costs.

Attorney general steps into mobile home park residents' dispute with manager

A mobile home park management company has rescinded letters to residents threatening eviction after the Minnesota Attorney General's Office intervened to protect them from having to complete a list of "time-consuming and expensive" home repairs in violation of state law.

Housing Authority considers buying Whitehaven Mobile Home Park

The Yampa Valley Housing Authority will consider making an offer on the Whitehaven Mobile Home Park during a virtual special meeting on Thursday, Sept. 22.

Oak Crest mobile home community in Coeur d'Alene makes a stand to buy back their mobile home land

Some residents of Oak Crest, a manufactured home community in Coeur d’Alene with almost 500 residents, hope to form a coalition and buy the park.

Denial of Mooresville apartment rezoning could impact residents of mobile-home park

Northway Homes had proposed a project with 326 apartments, including 40 workforce housing units, at a 27-acre site in Mooresville. Town commissioners denied the developer's rezoning request, a decision that could have ripple effects for current residents of the mobile-home park at the site.

Phoenix mobile home residents being forced off land

Families have been living in Weldon Court in Phoenix for generations, and some homes even date back to the 1950′s. Now, families and their homes are at risk.

County commissioners table mobile home park decision

Robeson County Commissioners tabled a decision on whether or not to clear the way for the expansion of a mobile home park on a site that neighbors a century-old farm.

CBRE Tabs Edwards to Bolster the Firm’s MHC Platform

CBRE has hired manufacturing housing financing veteran Erik Edwards as Senior VP with the company’s Debt and Structured Finance Group in San Diego. Edwards will partner with Norm Sangalang to help building CBRE’s Manufactured Housing Communities (MHC) platform and provide financing for MHC investors and landlords.

General Real Estate News

• The home price correction is spreading—this interactive map shows if your local housing market is impacted. (Link)

• Here's Where Real Estate Prices Are Cooling the Fastest in the US. (Link)

It’s the Economy, Stupid

• Jerome Powell’s Inflation Whisperer: Paul Volcker. (Link)

Regulatory and Affordability

• HUD Releases 2023 Fair Market Rents. (Link)

Charts Making Us Smarter

Public Markets Corner

Developer proposes 449 rental homes in southwest Canton with pool, splash pad, dog park

A Southfield-based developer is proposing 449 single family rental homes on a 224-acre parcel at the northwest corner of Geddes Road and Denton Road in Canton Township.

Former Myrtle Beach area resort manager has been indicted for fraud scheme

A Myrtle Beach area resort manager has been indicted on five counts of fraud after authorities say he defrauded the company out of almost $1 million.

Legacy Housing Corporation Reports Second Quarter 2022 Financial Results and Regains Compliance with SEC Filings

BEDFORD, Texas, Sept. 23, 2022 (GLOBE NEWSWIRE) - Legacy Housing Corporation (the "Company” or “Legacy", NASDAQ: LEGH) today announced its financial results for the Second quarter ended June 30, 2022.

Recent Acquisitions

RHP Properties announces purchase of Winter Haven, Florida manufactured home community with 238 home sites

RHP Properties thrilled to announce our newest acquisition of 50 quality communities located throughout the Upper Midwest

MHP Brokerage In Conjunction with (MS BOR 25363) is pleased to present the sale of the Ridgecrest Mobile Home Park

Oak Wood Ventures is excited to announce its latest investment, Friendly Village Manufactured Housing Community

MHP Brokerage is pleased to announce the sale of Clover Ranch Manufactured Home Community in Hampton, GA

CPX's recent acquisitions of Lee's Mobile Home Park including 89 sites in Laramie, WY

Flagship Communities REIT to strengthen portfolio with acquisitions in key markets

Another Boise acquisition for a repeat buyer. This community has excellent local demographics with a very large spread to median site-built home prices

Deals We’re Reviewing

Property Size: / 33.31± Acres / 159 Sites

Video Gallery

Panama City mobile home residents fear displacement | Watch Video ▶

‘Fear and panic’: Residents search for new homes after landlord sells trailer park | Watch Video ▶

A Place To Call Home: How Affordable Housing Plays into the Homelessness Crisis | Watch Video ▶

Teachers facing affordable housing crisis | Watch Video ▶

Cedar Grove community without water for over 48 hours | Watch Video ▶

National organization helps mobile home park residents in Billiings | Watch Video ▶

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Sponsored By —

Elevation Capital Group, and its affiliates, (“Elevation”) focuses exclusively on two niche property types: Mobile Home Communities and Self Storage Facilities. Elevation, through its affiliates, has acquired properties worth more than $600 million and has owned more than 200 properties across more than 30 states. To learn more about Elevation and their current investment offering, click here.

Contact us at [email protected] for sponsorship inquiries.