Resident owned mobile home park 55+ - Retirement?? (Tampa, St. Petersburg: lease, HOA fees)

[1freespirit]

Hello all,

I have been tossing around the idea of purchasing a mobile home located in one of the resident owned mobile home parks (you own the land the mobile sits on). Seems the low HOA fees of under $200/month are not bad for use of the amenities such as pool, hot tub, billiards, community activities and includes garbage pick up and wireless internet/cable? I realize not all resident owned parks have all these amenities but from what I have browsed seems like a lot of them do.

Has anyone had any experience living in one of these are if so whats your thoughts? Seems the price of the homes are reasonable and the low monthly could make it affordable living for seniors on a budget.

Looking for feedback pro's and con's and which park may be the best in this area?

Thanks much.

[Nancy in Nokomis]

I think it is good when the residents own the park. I have been reading horror stories where a large corporation owns the park and raises rents and runs the place terribly.

[Jimrob1]

Originally Posted by Nancy in Nokomis

I think it is good when the residents own the park. I have been reading horror stories where a large corporation owns the park and raises rents and runs the place terribly.

I'd do as much research on how things work in a resident owned park before buying. Such as how stable and financially secure the park is. What qualifications and background checks are needed to live there, if things seem to be in order than I'd move forward. I'd drive thru the community several times at different hours. Just to make sure its a decent place to live.

What i would not do is what i did, Move to Fla for retirement and move into a 55+ park lot lease. The one I'm in in Lakeland is reflective of many across the USA. You buy a home pay lot rent, and then the park is sold to greedy corporations. Its a serious problem and a form of elder abuse. These parks end up finding ways, to bring in anyone of any age to keep lot rents coming in. The residents get sketchy as seniors struggle to get out if the situation. I'm trying right now as this park has been under scruitiny. Code violations, and an investigation by a Tampa tv station.

I think your idea of resident owned is a sensible one, as long as the community is stable and law abiding. By no means do as i did. A park where lot rent is paid that goes up and up and the park deterioates. For the life of me i can't understand why there are not protections in place concerning these senior parks. Such as how much rents can be raised. Or who can live in them if they are designated senior communities. Good Luck.

[1freespirit]

Yeah I would never buy in a park that is not resident owned. We plan on taking a trip down and visiting a few resident owned parks and see what they are all about. My sister bought into a resident owned outside of St. Petersburg. She loves it.. they only got it as a vacation home to stay at while visiting St. Petersburg their main home is in Coral Springs. Her particular park does not have any amenities per say.. not gated, has a walking path around a small lake, the monthly HOA of I believe $163 does cover lawn care, water, sewer and garbage. The only qualification to purchase (for them) was a background check and age had to be 55+.

I would look for resident owned that offered a gated community, and I love to swim so a pool would have to be a necessity. The ones I have viewed online are pretty impressive they are more like a resort type living versus a mobile home park. When you are older (retirement age) a community where there is shuffleboard, water aerobics, mini golf, exercise classes, community pot luck, bingo night, card games etc. would appeal to me. The HOA's in the resident owned type parks usually just covers use of the amenities and garbage. The rest such as utilities, water, sewer etc are the responsibility of the homeowner.

As long as the park homes and grounds are well maintained and doesn't look like a dump and board members are not all "power hungry". I think it may be a inexpensive option for retirement and still leave room in our budget for travel and vacations. I have owned homes all my life since I was in my early 20's (actually even a manufactured home in a rented park - we did not live there but bought for our daughter to help her out but the home was really nice) we also owned a vacation home on Hawaii.

Downsizing to a mobile home does offer a certain appeal to me and if the home has been well kept up on maintenance and has a metal roof they can last a long, long time as long as a hurricane does not come through.

I would use due diligence in researching prior to making a decision to purchase.

[Nancy in Nokomis]

I was reading about this one corporation owned park in Venice - they were making their residents pay their property tax increase - called a "pass through" tax - it was nuts - like a 40% increase from the year before. Are there no laws protecting people?

[Jimrob1]

Originally Posted by Nancy in Nokomis

I was reading about this one corporation owned park in Venice - they were making their residents pay their property tax increase - called a "pass through" tax - it was nuts - like a 40% increase from the year before. Are there no laws protecting people?

There doesn't seem to be any protections here in Fla. I'm not sure state to state. I've seen everything from rent increases, to water repeatedly shut off, rat problems, roads not maintained. Lately the newest problem is the entrance gates constantly broken. All in all worse problem is the deceitful practices. Buy into a senior park and it goes to basically all age after corporation purchases the park. I will forever have a hatred towards Florida for not putting protections in place. After all Florida is the most retiree focused population location on earth, I truly believe Florida Govts only care about the money we all bring in. They could care less about us. I started noticing that when I found many communities in Fla don't even have a senior center, Believe me never buy into a lot lease anything America. Own your own land.

[1freespirit]

Originally Posted by Nancy in Nokomis

I was reading about this one corporation owned park in Venice - they were making their residents pay their property tax increase - called a "pass through" tax - it was nuts - like a 40% increase from the year before. Are there no laws protecting people?

Wow Nancy - That IS crazy! Well this just enforces my thought on NOT even considering a Corporate owned park! No Way.. !!!

[LIPINDIANA]

Reading through this thread, I am a newbie and did not even know there were resident owned communities. Is there a list somewhere. We are wanting to buy a mobile home in a 55+ community but the lot fees are outrageous. Where can I find some of these resident owned parks and the costs to live in them. Thank you so much.

[Sunshine Rules]

Where specifically are you looking? There are a number of mobile home parks in Bradenton - Ellenton where the lot conveys with the mobile home. Sarasota has a few, Venice also has a few.

Generally the mobile homes with huge monthly fees are going to be the ones that investors or corporations own, because the lot rent is included in the monthly fee. As others have said, those are not good options for a number of reasons including the fact that the land owner can give notice and kick everyone out to convert the land to another use.

[Mdfl]

If you go on realtor.com and put in mobile homes and read the details it will tell you. I don't think there are many in my area of SWF. There are more in the center of Fl., lakeland, Dade City, Sebring. I know the lot rent ones here near the coast charge 1000 to 1700 A month. That's why the prices of the mobile homes are cheaper.