Posted: | December 23, 2024 02:27 PM |
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From: | Senator Judith L. Schwank |
To: | All Senate members |
Subject: | Manufactured Homeowner Equity Preservation Package |
In the near future, I will introduce a comprehensive legislative package to amend the Manufactured Home Community Rights Act to protect homeowners amidst unjustified lot rent increases. Manufactured homes, built in separate halves and then assembled on site, are a unique home-owning opportunity for some of our most vulnerable populations as residents own their homes but not the land upon which they sit. Manufactured home communities provide an essential source of affordable housing, particularly for seniors on fixed incomes, veterans, and individuals with disabilities. It is neither practical nor affordable for residents to relocate their homes, and they are left with extremely limited options when rent increases or services decline. This has created an opportunity for large corporations and private equity firms to purchase these communities and impose excessive rent increases. While I recognize that the owners of manufactured home communities have property rights and are entitled to a reasonable rate of return on their investment, the Commonwealth has a role to play in balancing those rights while affirming the rights of the homeowners. This is why my legislation will expand protections for homeowners through (1) an of-right annual rent increase based upon the Consumer Price Index with an opportunity to justify higher increases (such as those to cover operating expenses and repairs); (2) advance notice and an opportunity for residents to purchase their community if the owner desires to sell or close it; (3) titling manufactured homes as real property, rather than vehicles. I urge you to join me in co-sponsoring this important measure to protect some of our most vulnerable homeowners. |
Description: | The first bill imposes an of-right annual rent increase based upon the Consumer Price Index with an opportunity to justify higher increases (such as those to cover operating expenses and repairs). | |
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Description: | The second bill provides advance 90-day notice and an opportunity for residents to purchase their community if the owner desires to sell or close it. | |
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Description: | The third bill titles manufactured homes as real property, rather than as vehicles. | |
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