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Friday, Feb 03, 2023

Resident-Owned Parks

Can residents buy their rental Park and convert it to resident ownership?

There are an estimated one hundred and fifty resident-owned mobilehome parks (rops) in California, the majority of which have been purchased by the residents and converted to some form of resident ownership. In a rop, residents have a voice in setting park policies and controlling park rents. Since residents own their spaces or shares in the park property, they have an incentive to maintain the park in good condition. Resident owners also gain equity on their interest in the park, which they can cash in on when they sell. But the conversion process can be complicated, as park owners are often reluctant to sell to residents, residents may not be able to agree to purchase the park, and initial costs of purchasing may be challenging. The state and some local governments may be able to provide some loans or other limited financial assistance. More information can be found in the booklet A Guide to Mobilehome Park Purchases by Residents, found at www.dre.ca.gov.

Resource: What Every Mobile Home Owner Should Know, published by the Senate Select Committee on Manufactured Home Communities.

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