Pride of Ownership?
Rent vs Resident Owned?
Gentrification!
A Win Win!
Let there be no doubt that
folks who have a vested
interest in their homes
have more of an incentive
and motivation to
Improve &
Maintain their
Investment.
We have been working in several Mobile & Manufactured Home Park RENT/LEASE Communities that have processed through the steps and are now a "RESIDENT OWNED "CONDO CONVERSION" Community
Here is an example of what has happened to a once aging and ailing Huntington Besch "MOBILE HOME PARK COMMUNITY" whence it finally received it's final approval.
The photos below are indicative of the transformation this once "RENTAL MOBILE HOME PARK" is currently transitioining into throughout this 100 space "CONDO CONVERSION".
Above: The value of this circa late 60's to early 70's "MOBILE HOME" in a rental park would be worth less than 100k, would be difficult if not impossible to finance and you would still have to pay the monthly space rent.
Above: Needless to say the value added in this development speaks for istelf. Once that sense of "PRIDE OF OWNERSHIP" took hold and the realization of knowing that these once TENANT/RENTERS were now HOMEOWNERS the rest is history.
That's not to say that eveyone in this development had the wherewithal or desire to purchase their space and NO they won't be displaced or penalized for not doing so.
They will continue to rent their spaces and NO they probably won't gentrify . But the fact that this is now a REAL Real Estate Investment as opposed to just paying space rent will add appreciable value to all the homeowners investments, will add a significant premium to the resale value of those who chose to continue renting if and when they choose to sell and will only improve their lives and the community they live in overall.
Call On Us Anytime To BE Your
Go To Guys
For Information & Knowledge about
MANUFACTURED HOMES
800 909-1110
JOHN ARENDSEN 760 815-6977
Scott Arendsen 760 415-1923
JANIS ARENDSEN 760 415-1982
janlinden@mac.com
Comments(6)