After being sued for neglect, owner of North Long Beach mobile home park files for bankruptcy
Mountain View MHP Owners deceptive? Fight brewing over rent control petition Signature gatherers allegedly misleading residents about landlord-backed initiative by Mark Noack / Mountain View Voice The push to collect signatures for a landlord-backed rent control initiative is leading to many reports of paid workers bending the truth to get residents to jot down their … Read more
Attorney Bruce Stanton asked Deane Sargent, PMC Financial Services, to provide expert testimony about several issues in the Rent Adjustment Hearing requested by the park owner, Idle Wheel MHP LLC.
A lot of CA resident groups living in problem MH parks have viewed Eminent Domain as sort of a ‘Holy Grail’ — their vision: the local City Fathers, aware of the resident’s plight, acquire the park and transfer it to the group.
A friend of mine described a resident park purchase as being like a supertanker heading out to sea. If you’ve never seen a supertanker, they’re huge. The largest ones are 1,200 feet long (that’s 4 football fields). Each can hold millions of barrels of oil.
Many of you may remember the old story (a science class experiment maybe?) about the frog in the pot on the stove.
If you put a frog in a pot and slowly turn up the heat, the frog won’t notice and you will end up with frog legs (if you like that sort of menu item) for dinner.
An MH industry publisher asked me to write an article on resident ownership and specifically highlight the differences in the ways group use to buy their park.
Recently, I was asked by the publisher of an MH industry magazine to write an article about resident park purchases for park owners, since there are a lot of misconceptions about the process.
Failure is frustrating. I suppose, however, it depends upon your definition of failure. I’m in the Mobile Home Park Resident Purchase Business, and, defined broadly, we have a ton of failures. It takes three basic factors for resident park purchases to be successful – to close with the resident group as the new owner.
On the one hand, since ‘getting the owner to the negotiating table’ is probably the most difficult task in a resident park purchase, the idea that an owner would contact me about selling his park to the group is really exciting.