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 ...
I can just imagine what those ‘hoods look like . . .
You know what they say... drag a hundred dollar bill through a trailer park, and you can get whatever you want.
If I won the powerball, I’d buy and get rehab one of those decommissioned missile silos.
Said and done I would have a few hundred left over.
The houses are rentals the land they sit on is rented
One should look at what the NY legislature has done to mobile home parks before they form any opinions. It is no wonder Mom and Pops can’t afford to own them anymore. During the last round of legislative changes to to rental and eviction rules the NYS legislature created an entire section to punish mobile home park owners disproportionately compared to any others.
This is more liberal trash to make things even worse.
This is just some of it. Try weeding through this:
N.Y. Real Property Law 233 – Manufactured Home Parks; Duties, Responsibilities
https://www.lawserver.com/law/state/new-york/ny-laws/ny_real_property_law_233
N.Y. Real Property Law 233-A – Sale of Manufactured Home Parks
https://www.lawserver.com/law/state/new-york/ny-laws/ny_real_property_law_233-a
N.Y. Real Property Law 233-B – Manufactured Home Parks; Rent Increases
https://www.lawserver.com/law/state/new-york/ny-laws/ny_real_property_law_233-b
Would you want to be legally liable for all of that. And even the lawyers don’t understand it.
A few years ago a rich guy in my neck of the Jax suburban woods bought out the local trail park and closed it. He didn’t like the riff raff so close to his mansion I guess. He turned it into a nice public facility and boat ramp, though. He took and put on public display the Confederate monument from downtown St. Augustine when the city removed it.
“They only care about the money“...
Yes, that is basically it; they are in business to make money. If there are problems with drinking water and sewage disposal they should be handled as part of said business.
Don’t forget the “Stabilization Act” of 2019 and then the crushing eviction moratorium.
https://www.nysenate.gov/sites/default/files/press-release/attachment/new_rent_reform_presentation.pdf
Anyone renting units for below market rents in NYS is a fool. Statewide rent control is coming as well as “Good Cause” eviction legislation.
Right now there is no way I’d ever be a private landlord. Once Uncle Sugar decreed that deadbeat squatters couldn’t be evicted using the Covid-19 excuse, it turns private landlords into forced private welfare agencies. I don’t have any desire to go bankrupt. You notice the Uncle Sugar and his “state and local” bastard children don’t let the mom and pop landlords, small businesses, or anyone else that follows the rules off the hook.
So, what you get is corporate money grubbing property management outfits, a lot of them foreign (Chinese), buying up rental properties. They have the funds to keep armies of landlord/tenant shysters on deck, and to pay off the legal system.
Then everyone complains that there are not many places for rent anymore. And more and more it is the big corps because the small landlords want out. They can’t make it work anymore. They are all losing their shirts.
The largest owns 80,000 rental homes! Invitation Homes…
I know this place.
On the corner of NY 104 and Transit Road just north of Lockport.
This is not the lap of luxury. More like the lap of luxury after luxury stood up.
There is not exactly a ton of money in Niagara County. Least of all, Lockport.
By design.
How about 9.1% government caused inflation YoY in July and the worst in 40 years?
That would be cool.
The monthhly rent at my storage locker went up 80% a few months ago. When I complained they dropped it by $40 a month. It’s a work expense and not my money but still
There are quite a few who try to live in their storage lockers. Or use them to cook meth.
This one is pretty secure with an excellent manager.
I have two customers left in my little property management business. We had fifteen back in February of 2020. All my customers were small landlords who owned three or less properties. Most were retired. Half told me to start putting their homes on the market as soon as the eviction moratorium was lifted. The rest have decided to sell since. The two that remain are both living overseas and have me renting out their houses to very long term tenants. They are not income properties but where they plan to retire.
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