Episode 2 Resident owned or Land-lease Florida manufactured home community - which is right for you?
Florida Manufactured Housing Communities are organized as land-lease or Resident Owned Communities (ROC).
Both can be 55 plus and both offer gated communities. Amenities may be quite similar between the two. Both feature Florida manufactured homes for sale. So how do you choose? Your choice of a Florida retirement community needs to fulfill your dream and meet your needs. Join me as I cover some of the deciding factors that will need to be part of your decision.
Want more info on this lifestyle? Check out my book: Retirement in Florida Manufactured Homes & The Land-Lease Option Available on Amazon: amzn.to/3TgFe0V
Want more on manufactured housing? There are many more helpful videos on our KZread channel: Florida Manufactured Home Living - KZread Channel / @russellwatsonfmhl Join us on Facebook: / russellswatson
There’s a ton of info on our website: Florida Manufactured Home Living - Website www.floridamfghome.com/ We offer opportunities to work with us: fmhla.mykajabi.com/
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Пікірлер: 18
You are very knowledgeable 😊
@RussellWatsonFMHL
2 ай бұрын
Thanks a lot 😊
Great info for sure but IMHO...subdivisions are best....YOU OWN THE LAND under your home. Co-ops are good but they can sell out also, like land lease communities!
@RussellWatsonFMHL
2 ай бұрын
Sounds like you have at least one clue to a community that will fulfill your dream and meet your needs. Each of these opportunities offer unique solutions with advantages and disadvantages. There is no single solution that's right for everyone. The key is synthesizing the options down to the right solution for you.
Thank you ,Russ......Great Info and perspective.....
@RussellWatsonFMHL
2 ай бұрын
Very welcome
Great video. Thank you for putting this together.
@RussellWatsonFMHL
2 ай бұрын
Glad you enjoyed it!
Always a great vlog..the information was great to have ..one day my retirement which started at the age if 39..will hopefully be in florida and no longer be on the Virginia Tennessee line ❤
@RussellWatsonFMHL
Ай бұрын
You can do it! Love to see you down here!
Great information! Would love to know why your first home was such a mistake, and what you learned from it.
@RussellWatsonFMHL
2 ай бұрын
I'll add more to the story in future episodes. Suffice it to say I offer guidance in my MH Buyer program to help others avoid those mistakes and many more I have seen along the way.
@alicejette5635
19 күн бұрын
Great info , I live in a leased park poorly manager and up keep except for the residence who maintain their property good thing that there are people who care rent is going up dreading the notice of increase for 2025 I do need to ask you a question how is the rent crease done I was told it calculated by the cpi is that so would love to hear from you I have lived in Brevard County for 40 years thank you for your time, Alice in Fl
@RussellWatsonFMHL
19 күн бұрын
@@alicejette5635 Every park has a prospectus and within that prospectus the manner in which rent increases may be applied is disclosed. As to the actual calculation that is up to the park owner as long as it falls within the specifications laid out in the prospectus. Should a majority of affected residents conclude the increase is unreasonable they may challenge it through mediation at DBPR.
Good synopsis, I think owning the land in a resident owned community is the best option if one can find one in a good somewhat safe location. The downside to land lease operations is that the operating costs are always passed to the residents in order to maintain profits. What are the risks to the owners? Primarily damages to the clubhouse and pool areas which they insure via the monthly fees. As we saw in Ft Myers’s beach area several of these communities were completely destroyed but it was the residents who lost their Gomes if not insured, my question is do the residents in this circumstance still have to pay lot rents for a home that was destroyed and they just spent a few thousand dollars to have it removed?
@RussellWatsonFMHL
2 ай бұрын
Once your home is removed from a lot and the debris cleaned you can terminate your lease. Or, you can negotiate with the park to have a new home installed on the lot.
If you get sinkhole insurance on your MH in a land leased community, its about 2K + a year, who gets the payout from insurance, you or the land owning company? And, does the land owner have to repair the hole? Claims for SH require "structure damage", so if neighbor gets a SH, and you have no damage yet, how would park handle it? I have been looking at communities in "Sinkhole Alley".
@RussellWatsonFMHL
9 күн бұрын
If you get the insurance it's on your structure and minus deductible you will be covered for repairs to anything determined to be caused by legitimate sinkhole. I believe the park owner's responsibility is to provide a safe and usable lot but I suspect an attorney or an insurance agent would be better able to answer who pays to fill the hole. No insurance covers you for something that happens to your neighbor nor does the park. Let me point out that citizens insurance includes sinkhole coverage at no extra cost so that might be a good option for you.