Resident-owned community
Also called: ROC, cooperative community, resident-owned park
A community owned collectively by the people who live in it, usually through a cooperative or homeowners association.
In a resident-owned community the residents collectively own the land, typically via a cooperative corporation or an HOA. Buying a home there usually also means buying a share or membership, and residents elect the board that sets the budget and the rules.
The appeal is control and predictability. Lot fees cover actual operating costs rather than a landlord's return, and residents decide on increases themselves, which historically has meant slower, more predictable rises than in investor-owned communities.
The responsibilities are real too: residents collectively carry the capital costs of roads, water lines, and sewers, and governance takes participation. Buying in usually means a share purchase alongside the home, which financing has to accommodate.
Important note on MHAuthority: we only describe a community as resident-owned when we have a reliable source saying so. Our listing feed does not currently carry that field, so we do not infer it from a community's name.
See also
- Manufactured-home community, A development of lots designed for manufactured homes, where residents typically own their home and rent the lot.
- Lot rent, The monthly amount paid to a community for the lot a manufactured home occupies.
- Land lease, An arrangement where you own the home but rent the ground it sits on, paying monthly lot rent.