Resident ownership of manufactured housing communities brings enormous advantages, both for the residents and for the community at large. When residents own the land on which their homes sit, they – and the community at large — know that their homes are secure.
The danger of closure of the park, leaving hundreds of families without housing and creating a community crisis, is gone. With stable land tenure, the manufactured home becomes a true asset for a family rather than a potential financial disaster. Stable land tenure and the protection from unreasonable rent increases that come with resident ownership also provide the groundwork for residents to secure mainstream mortgage financing for the purchase, replacement, or improvement of their homes.
Experience elsewhere has shown that, when residents own their manufactured housing community, they invest in it. They repave the roads, fix the sewer system, repair and repaint outbuildings, and add landscaping and amenities. The enhanced manufactured housing community benefits the community at large. Being able to make decisions collectively about the park also increases civic engagement and reduces societal conflict.
A resident purchase opportunity law like Raised Bill No. 988 will make the Ownership Society a reality for residents of manufactured housing communities and bring many benefits to the community at large. Enactment of Raised Bill No. 988 will be a benefit for residents of manufactured home communities and for Connecticut.