Posted on 07/25/2022 3:54:38 PM PDT by DFG
For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York.
That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from a fast food joint and grocery store about 30 miles northeast of Buffalo.
Residents, about half of whom are seniors or disabled people on fixed incomes, put up with the first two increases. They hoped the latest owner, Cook Properties, would address the bourbon-colored drinking water, sewage bubbling into their bathtubs and the pothole-filled roads.
When that didn’t happen and a new lease with a 6% increase was imposed this year, they formed an association. About half the residents launched a rent strike in May, prompting Cook Properties to send out about 30 eviction notices.
“All they care about is raising the rent because they only care about the money,” said Jeremy Ward, 49, who gets by on just over $1,000 a month in disability payments after his legs suffered nerve damage in a car accident.
(Excerpt) Read more at apnews.com ...
Well, there goes the neighborhood.
It isn’t just mobile homes. There are “investment” companies that own 25,000 homes across the country. Blackrock is part of that I hear.
And RV parking sites/parks. Some near us are $800+/mth. With hook ups.
...a new lease with a 6% increase was imposed this year
No rent increases for decades, the place is falling apart, and now a 6% increase sends them into a tizzy? Lots of places see 50% increases with new ownership. They should count themselves lucky with 6%.
Do you want a Revolution? Because this is how you get a Revolution.
I’m going to build a camouflaged treehouse in the woods...
“A HUD compliant mobile home that is regularly maintained and repaired as needed will last as long as a traditional home, anywhere between 30 and 50 years.”
https://homenation.com/blog/how-long-do-mobile-homes-last
Seeing that these are rental units even 30 years is a stretch. Some neighborhoods around our city don’t even last 10 years before they become the ‘hood.
A friend has been in real estate 35 years. Investment firms from all over the world ask him to buy up entire neighborhoods for them. The conversation goes like this:
“We want to buy this neighborhood for rental properties.”
“No you don’t.”
“Oh yes, it will be nice, we have property managers.”
“And they will spend all their time at the courthouse.”
“Oh no they won’t, we did this in Norway and Austria, we know how it works.”
“No you don’t, you’ll lose your money. It will be a ghetto.”
“That would never happen. We are professionals.”
“Okay, I will buy it for you. But don’t come back here and complain when you lost your shirts.”
Rents everywhere have been going up like crazy for quite a while. It’s called inflation and it infects everything. Thanks Joe Biden.
I will own nothing and like it?
Looks like soon tornadoes are going to be a GOOD thing.
And I hope Blackrock, etc. ‘self insure’.
We’ve held steady on the rents for our tenants, because it’s cheaper to keep ‘em.
Watch the 4-minute video and read the short description about the 1999 repeal of Glass-Steagall:
https://newtube.app/user/Hostage/aZXdOqd
The description will help understand the history that is at the root of what’s happening today.
Agreed
Sorry, no it’s not. 6% increase is even well below the rate of inflation
He messed up by firing a shotgun in frustration that his dog had run off. It attracted the attention of authorities.
Otherwise, he had a vehicle and access to numerous facilities in the urban area.
He lived in a very beautiful setting, essentially as a hermit.
This is also happening with storage facilities. Out of state corporate “interests” are buying them up and folloing a similar pattern of neglect and spiking rental costs. I have a sister-in-law who works at one previously owned by a local family. Some corp bought out all of their locations. And then the mismanagement fun began.
Space rent,
Storage,
Food and Gas.
.
It’s like someone Declared WAR on the U.S. Citizens.
.
Wait, They Did!
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