What Is A Resident-Owned Community?
A resident-owned community (ROC) is an advantageous arrangement for owners of modular homes who want more autonomy than a traditional mobile home park can provide. In order to become a resident-owned mobile home park, residents of the community form a legal business entity to purchase the park’s land. The legal entity operates as a non-profit corporation to handle the day-to-day of the ROC. Members of the co-op mobile home park retain sole ownership of their home and jointly own the park’s land with their neighbors through the business entity.
How Do Resident-Owned Communities Work?
Once the legal entity is formed and the land is purchased with a loan, the residents vote on a board of directors who represent their interests and run the park. This democratic model of operating a community allows residents to control the costs of lot rental, set the park rules, choose their maintenance standards, and be proud of the community they are creating.
Similarly to privately owned parks, residents still pay monthly lot rent, but the key difference is that the community sets the price. This results in lower monthly rent in communities where costs are the main priority, and improved park conditions in communities who are more concerned with their quality of living. Whatever the priorities of the mobile home cooperative are, the model of resident-owned communities helps benefit the community members instead of lining the pockets of landlords.
Advantages Of Resident-Owned Communities
In a traditional privately-owned mobile home park, operation decisions are left to the park owner, who operates the community as a for-profit business. Mobile home cooperatives put the power in the homeowners’ hands and allow the community to make decisions based on what is best for its members. Since the community is owned and operated by neighbors, everyone has a say in the decision-making process.
Homeowners in resident-owned communities have the ability to control who the park enters contracts with for maintenance and other service vendors — unlike traditional privately owned parks where the owner makes these decisions. This has resulted in better community upkeep, creating a safer and more appealing place to live.
Disadvantages Of Resident-Owned Communities
Resident-owned communities do require a time investment from members to reach their full potential. Some homeowners might be less inclined to spend their energy on building a better community, so it’s important to understand that there may be a disparity in community effort, and not everyone will be eager to make their voice heard or create a different living environment.
On the other hand, some residents may invest a lot of their time and still fall within the minority voters, and their ideas or priorities may be left unaddressed due to the voting process. Putting in time an effort to have your concerns left unattended is a potential downside to living in a ROC mobile park.
Where Can I Find Resident-Owned Communities In My Area?
If you’re looking to explore resident owned communities in your area, visit MHVillage.com to filter through ROCs in every state with our advanced search functions. Search for homes in resident-owned communities or for parks that are specifically co-op mobile home parks.