MH Resident Success – “FAIR RENT”
Attorney Bruce Stanton represented the resident group at Idle Wheel Estates MHP, Woodland, CA, before the Woodland Manufactured Home Fair Practices Commission in March. Mr. 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.
The owner request an increase in monthly site rents of $160/mo (45+%) from the current average rent of $362.06. The owner felt that it was not receiving a ‘fair return’ on the investment in the park.
Sargent commented on two issues:
1) The unreasonableness of the 9% return requested by the owner. and,
2) The bogus argument that the owner was entitled to benefit due to ‘increased’ home prices because of low ‘rent controlled’ site rents.
The Woodland Manufactured Home Fair Practices Commission render their decision in late April and awarded the owner about $37.00.
Stanton stated “This represents a significant victory for the residents, as we were able to defeat $126.00 of the requested rent increase: i.e., a 77% portion was denied.”
For additional information, contact Deane Sargent (email@example.com; 415-271-3919; www.pmcfinancialservices.com)
Deane Sargent and PMC Financial Services have been helping mobile home park resident groups and cooperatives to organize and find financing to buy their parks for over 20 years.