READS is a member of the national affordable housing network, ROC-USA™, and is part of a national initiative for the conversion of investor owned manufactured home communities to resident owned communities. As a ROC-USA Certified Technical Assistance Provider (CTAP) in the states of New Jersey and Delaware, READS is actively engaged in the conversion of manufactured housing communities to resident owned communities in both states.
There are an estimated 50,000 manufactured home communities in the United States, including about 275 in New Jersey and 330 in Delaware. These communities are an essential source of affordable housing for lower income households. Residents of these communities typically own their homes, but rent the land beneath. The conversion of these parks to resident owned communities makes it possible for residents to own both home and land. As a ROC-USA CTAP, READS provides technical assistance to homeowners in New Jersey and Delaware manufactured home communities to help them purchase their parks as resident owned communities and provides community owners with a viable means of selling their parks at a fair price.
Successful manufactured home park conversions from privately owned to resident owned are happening across the country. Resident owned communities offer benefits to both homeowners and community owners.
For homeowners, resident ownership offers:
- Greater control of rents
- Democratic management of community
- Long term security– park cannot be sold or closed
- Maintenance, repairs and improvements that are controlled by homeowner members
- Community rules and regulations that are developed by the homeowners
- Stronger sense of community
For community owners, resident ownership offers:
- A fair competitive price for your community,
- Homeowners will be provided with access to the capital needed to acquire the park
- A timely real estate transaction - from purchase offer to closing
- Assurance that the park will continue as an affordable community for many years to come.
To learn more about resident owned communities click on the resources below:
Forming a Resident Owned Community
Frequently Asked Questions
If you are a community owner interested in selling your park or a homeowner interested in learning about the possibilities of purchasing your community call READS at (732) 635-1000. |
