RESIDENT OWNED PARKS, INC.
A Nonprofit Housing Corporation
HOW DO WE GET STARTED?
- WHEN YOUR PARK IS ALREADY LISTED FOR SALE

If you are a mobilehome owner living in a rental park, you may have learned from experience that when your park is sold it usually results in rental increases from a new park owner. Whether you have an organized homeowners association or not, you can and should contact ROP so that it can determine whether your park is currently being marketed for sale. Unless your park is significantly overpriced by your park owner, most mobilehome parks being actively marketed by real estate agents are in contract for purchase within only days of being listed. If you or ROP determine that your park is already listed and being marketed for sale, time is of the essence, and there will be little opportunity to hold meetings with homeowners and to acquaint them with the process. In this situation, the interests of park residents are best served if ROP makes an offer to purchase the park. This may be the only way to prevent the park from being sold to another private investor whose motivation is not to preserve affordable housing, but to increase profits.

- WHEN YOUR PARK IS NOT FOR SALE AND YOU HAVE A HOMEOWNERS ASSOCIATION

If your park is not listed and being marketed for sale, but you want to organize now to be ready for a park purchase, then contact ROP by telephone, or e-mail for further information. ROP will make newsletters and a DVD available to your association to explain our nonprofit approach to park purchases and how ROP representation will serve the interests of homeowners in your park. Homeowner associations desiring our services will need to sign and return an ROP Engagement Letter before we render services on their behalf. Following receipt of the signed engagement letter, ROP will contact the park owner to advise him/her of your interest in acquiring the park. ROP representatives can personally meet with your park owner to determine his/her interest in selling the park, and if so, at what price. ROP will then determine the cost of available financing and determine the monthly cost to each homeowner if a park purchase was to occur at the park owner's asking price. The ROP approach to park acquisition includes a commitment to communicate with the homeowners in your park, and to answer their questions and address their concerns.

- CITIES AND COUNTIES

City and county representatives are encouraged to contact ROP if you would like to explore the feasibility of converting rental mobilehome parks in your jurisdiction to resident ownership. ROP is qualified to serve as housing consultant, project manager, or as the non-profit housing corporation which can acquire the park for the long-term benefit of park residents. ROP will work with your Housing Director, Community Development personnel, city attorneys, county counsels, county supervisors, and city council members to assist you in preserving affordable housing in your communities. If your city or county is embroiled in litigation with park owners over your mobilehome rent control ordinance, ROP can facilitate a resolution of such litigation by negotiating a purchase of that park for the benefit of residents and which includes a settlement and/or dismissal of pending litigation. Although ROP supports the adoption of mobilehome rent control laws in jurisdictions that have experienced unreasonable space rent increases, ROP believes that the nonprofit and resident-purchase of parks is an attractive alternative to rent control, that can provide long term benefits to cities and counties, park residents, as well as park owners.

- PARK OWNERS

If you are a park owner, you owe it to yourself to thoroughly explore the benefits of selling your park to nonprofit ROP or to the homeowners association in your park represented by ROP. We invite you to contact ROP so that we can meet with you to discuss how the sale of your park to ROP for the benefit of residents, can create tax-free income, and allow re-investment benefits which would not exist if the park was sold to another "for profit" investor.ROP is experienced in locating the sources of all available financing, including the issuance of tax-exempt bonds, so that residents of the park can reasonably afford a park purchase while generating the sales price you are seeking for your park. The sale to ROP for the benefit of your residents can be a "win-win" transaction for you and the park residents.Many park owners may be reluctant to explore the possible nonprofit or resident purchase of their park, because they simply do not want to deal with over a hundred homeowners in such a complex transaction. This problem can be avoided when ROP is the designated non-profit housing corporation for the residents of your park. While ROP has continuing meetings and communications with the homeowners to explain the transaction, all of your communications on the transaction are made directly with ROP, not the residents. The experienced team of professionals at ROP is prepared to communicate with you, your attorneys, and your financial advisors to expeditiously proceed with a purchase of the park.