- the MHC weekend
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- We Now Return to Our Regularly Scheduled Programming
We Now Return to Our Regularly Scheduled Programming
But don’t expect us to define recession
Christopher Ebert
July 31, 2022
No polemics this week. Just the news.
Colorado lawmakers now addressing zoning for MHPs; resident co-ops a panacea; residents of a Connecticut park are mad about a $40 increase….over two years; and lots of acquisitions.
Enjoy!
What We Are Reading
The Goods - Manufactured Housing
Lawmakers look to keep mobile home parks affordable through local, state legislation
In the Harmony Village just off of I-25 in Fort Collins, there is a beautiful, brightly blue mobile that Samantha Stegner’s family calls home.
The home backs up to a park and is adorned with a food pantry on one side and a patio and garden on the other. She’s even thinking about swapping out the roof for a metal one. It’s her family’s slice of the American Dream.
How life — and rent — improved when residents took ownership of a Longmont mobile home park
The Spanish version of the saying, “If I eat, we all eat,” takes on a very real meaning at the LMP Longmont mobile home park. This is the kind of place where neighbors share their food, help take care of each other's kids, and truly know one another.
Rent Hikes Leave Mobile Home Residents in a Bind
Residents at the Beechwood Manufactured Home Park say that rising rents and deferred maintenance have placed an undue burden on elderly residents, and are asking local officials to provide them with a forum to challenge the park owners, Sun Communities.
Debunking stereotypes about mobile homes could make them a new face of affordable housing
When you hear the words “trailer park” or “mobile home park,” what comes to mind? Crime? Poverty? Vulnerability to natural disasters? These negative images reflect the stigma, reinforced by popular culture, that many U.S. residents assign to manufactured home parks – the official name for these dwellings under federal standards adopted in 1976.
Rents spike as big-pocketed investors buy mobile home parks
For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York.
That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from a fast food joint and grocery store about 30 miles northeast of Buffalo.
Legislation Updates Protections to Homeowners in Manufactured Home Communities
Legislation that extends protections to homeowners in manufactured home communities has been signed by Governor John Carney. House Bill 374 would include homes that do not qualify as manufactured homes under the current definition – like those who live in camper trailers on rented land.
'It's going to be sad' | Smitty's Mobile Home residents leave as apartment complex plans move-in
Some people at Smitty's Mobile Home Community on Newtown Road in Norfolk have lived there for decades. They'll have to leave in the next several months.
Wind chimes ding against one another on Katie Meshinski's porch toward the front of Smitty's Mobile Home Community.
Developer 'rescinds' rezoning request for former Dawson Ridge golf course
Developer Nathan Whittaker has rescinded his request to have the former Dawson Ridge Par & Pub Golf Course rezoned to allow for a manufactured home development on the 86-acre site.
General Real Estate News
Rents Are Out of Reach for Minimum-Wage Workers Toiling 40 Hours a Week. (Link)
Corporate Landlords ‘Aggressively’ Evicted Tenants During Pandemic, House Report Says. (Link)
A Legal Showdown Over Section 8 Discrimination Is Brewing in Dallas Suburb. (Link)
‘Niche luxury’: New tiny home resort opens in Idaho City. (Link)
It’s the Economy, Stupid
Regulatory and Affordability
Charts Making Us Smarter
Public Markets Corner
Sun Communities: Q2 Earnings Snapshot
Sun Communities Inc. (SUI) on Monday reported a key measure of profitability in its second quarter.
The Southfield, Michigan-based real estate investment trust said it had funds from operations of $254.6 million, or $2.02 per share, in the period.
Sun Communities, Inc. (SUI) CEO Gary Shiffman on Q2 2022 Results - Earnings Call Transcript
UMH Properties : Completes its redemption of its series C preferred stock - Form 8-K
UMH Properties, Inc. (NYSE: UMH) today announced that on July 26, 2022, it completed its previously announced redemption of all 9,884,000 issued and outstanding shares of its 6.75% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") (CUSIP 903002400). The redemption price was equal to the $25.00 per share liquidation preference plus accrued and unpaid dividends to, but not including, the July 26, 2022, redemption date in an amount of $0.2578 per share, for a total payment of $25.2578 per share.
Recent Acquisitions
Manufactured Housing Properties Inc. adds three properties to its portfolio
Sun Communities buys Greater Houston mobile home park for $30M
City of San Diego selling San Ysidro mobile home park to private company
HARRI5 CLOSED Phoenix MSA RV Park Model Resort, +/- 700 Spaces, 5 Star, 55+
Capstone MH Brokers Two Premium Manufactured Housing Communities Consisting of 322-Sites in Houston, TX
COARE Communities is excited to announce the acquisition of an MHC community in the Sebring, FL market
Just sold! The NorthMarq MHC Team recently closed the Country Club Village in Mesa, Arizona
Just Closed! | Corning RV Park | Corning, CA
Just Closed! Monte Vista Manufactured Housing Community
Another recent closing in Rio Grande Valley Texas. VIP La Feria/Breezewood Cove RV/MHC
Just Closed! | El Camino MH & RV Park | Sacramento, CA
Recent Financings
Over 160 motor-home sites and 65 RV sites funded for $4,200,00 in Southern Texas!
Deals We’re Reviewing
Sites: 150
Video Gallery
Oasis Mobile Home Park residents fed up with poor living conditions, County leaders work... | Watch Video ▶
Tenants say government-subsidized complex is filthy, unsafe | Watch Video ▶
Investors raising mobile home park rent in Iowa | Watch Video ▶
Podcast Picks
Ep. 148 | How to Break Into Mobile Home Parks. Listen Now →
Short-Term Owners Create Long-Term Suspicions. Listen Now →
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