"In New Hampshire alone 107 communities are owned by the residents. These residents don’t worry about underinvestment, they don’t worry that their community will be sold to make room for a big box store, and they don’t worry that the rent will be raised just to increase the investor’s“yield". - Excerpt from Rooflines.org April 24, 2014
This week's blog borrows an article published on Rooflines.org, focused on manufactured home residents who are forming their own HOA's in their manufactured home communities. The benefits are endless and the savings to residents are becoming increasingly more attractive. Whereas most mobile home communities are owned by an investor(s), residents are now realizing they can not only own their own home, but own a piece of the park as well! However, it does come with risks, and is not for everyone! Just as some people don't want to own their own business, some are happy just to own their home, not the whole park!
Check out the pros and cons of an HOA in your own mobile home community, and decide if its right for you!
Download and read the article here - Another Way to Invest in Mobile Home Parks