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Residents rate below profits
As a resident of Kloshe Illahee mobile home park, I would like to expand on the article in the Jan. 9 issue regarding space rent increases.
Five years ago when I purchased a home in the park, it was a beautiful place with a great spirit amongst the residents as evidenced at the many community events. The residents took pride in the park and in the appearance of their homes. It had one of the highest ratings of any park on the West Coast. Before buying I checked the history of prior rent increases and found them reasonable.
In the past two years very substantial space rent increases have and are being assessed. Despite the denials of the park owners (MHC), maintenance has also decreased. These actions have damaged the spirit of the park and have decreased the value of our homes.
Many homeowners are shocked, some are fearful, and some are pursuing actions to sell. We wonder how long these high increases will continue. Few, if any of the residents are enjoying increased income. Those on fixed pensions, interest on savings, and stocks (dividends and capital gains) have suffered decreases in their income. Now we are faced with a substantial decrease in the value of our homes. What is happening is a transfer of value from the homes we own to MHC, the owner of the land. The total combined value of the home and the land is indeed subject to market forces. However, MHC is increasing their part of the total at the expense of the captive senior citizen homeowner.
MHC has an obligation to their shareholders, it is true, but also to their customers and to the community at large. Or could they be too concerned with bettering the price of the stock held by the officers of the company? Perhaps a beautiful well-maintained park full of satisfied residents could accomplish similar results.