Daily Business News

LasVegasSun tells us Mountain View Community MHC in Henderson, Nevada changed hands earlier this year when Hometown America Communities sold the property to Equity Lifestyle Properties, Inc. (ELS). Leases under Hometown America stipulated that rents could increase a minimum of 3.5 percent with 90 days notice. ELS has told residents rents will be frozen for the next two years, but will be open to adjustment after that. Many residents in the seniors community live on fixed incomes, and are fearful that they will not be able to afford either rent hikes or the ability to move their homes. The Nevada Association of Manufactured Homeowners (NAMH) has proposed legislation in the last 13 sessions to establish a rent justification measure that would set guidelines for rent increases, but to no avail. MHProNews.com has learned rents for home sites in many Clark County MHCs have risen dramatically since the recession.

(Photo credit: MHVillage–Mountain View Community)