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Is your manufactured/mobile home community for sale?

Resident-Owned Communities (ROC)
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Between 2014-2022, 20% of MHCs (Manufactured Housing Community) were sold to institutional investors who drastically raised rents. Trapped by rising rents and the inability to sell their homes, owners may have to walk away, leaving their homes to the park owner/investor. Banding together to buy your MHC allows you to protect your financial future and gives you a voice in the MHC operations. Don’t wait until your community is on the selling block – find out ahead of time, educate your neighbors, look at financials, and find potential real estate lenders. 

Initial questions to consider:

• Does your city already have a rent stabilization ordinance that keeps your rents low? 
• Who currently owns your park? A mom & pop owner may be more willing to sell to residents and can be offered attractive terms such as capital gains deferment.
• Have your community homeowners formed a non-profit organization? See the CA Mobilehome Residency Law (Section 798.80) for details about when a park owner must notify the resident association of his/her interest in selling the property.

Resources - These groups offer guidance, analyze the park owner’s financial statements and rent roll, determine the fair market value, and offer financing options with commercial multi-family mortgage lenders at reasonable rates.

• Cali-ROC, an organization that helps resident owners buy their MHC. View their power point.
• ​David Loop and Dean Sargent of GSMOL, financial consultants who have helped many ROCs in California, can assist.
• California Center for Cooperative Development - promotes cooperative identity, values, and principles to advance the contemporary cooperative movement by providing education, technical assistance, and by helping different types of cooperatives unite across these common themes.