Institutional investors are buying up local mobile home parks nationwide and raising the rent and fees mobile home owners pay to park their homes.
Corporate investors, like private equity firms and real estate investment trusts, purchase mobile home parks and raise the rent on tenants who are primarily disabled or on a low or fixed income, The Associated Press reported.
Out-of-state purchases in Minnesota almost doubled between 2015 to 2021, with 46% of the state’s mobile home parks purchased by an out-of-state company in 2015 to 81% in 2021, the outlet reported. Rent at these parks rose as much as 30% simultaneously, according to The AP.
dailycaller.com
Corporate investors, like private equity firms and real estate investment trusts, purchase mobile home parks and raise the rent on tenants who are primarily disabled or on a low or fixed income, The Associated Press reported.
Out-of-state purchases in Minnesota almost doubled between 2015 to 2021, with 46% of the state’s mobile home parks purchased by an out-of-state company in 2015 to 81% in 2021, the outlet reported. Rent at these parks rose as much as 30% simultaneously, according to The AP.
Millions Of Americans Shafted After Wall Street Vultures Target Trailer Parks
Institutional investors are buying up local mobile home parks nationwide and raising the rent and fees mobile home owners pay to park their homes.
