I am considering designating one our parks as a 55 and over community. Wondering if anyone knows the legal requirements to do this. Park is in Michigan. Thank you.
Nick
Must have over 80% seniors to qualify and then every 2 years need to do a review to make sure it is still at that level. If it falls below the 80% levels - then you will lose the status as 55+ and it is open for all ages.
I have not read the specifics of the laws regarding 55+ in several years, probably your state MH association would be your best source. It seems to me that 80% of residents needed to be 55+.
You should carefully consider before taking such steps, in making this conversion, you are really restricting yourself and limiting your customer pool by making this conversion, and I
My observations for owning a 55+ park:
Most mature couples
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are finished with their wild years.
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don’t leave tricycles in the yard.
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can’t or won’t yell very loud.
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rarely have affairs with the neighbor next door.
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are over all the drama.
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Rarely require police visits.
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like to garden for something to do.
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keep an eye out for each other.
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report unusual activity in the park.
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pay cash for their homes, care for them and have a sense of responsibility.
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have the sense and money for preventive maintenance.
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have the money to repair broken things.
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follow the rules they have agreed to.
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demand others to follow the rules.
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respect the park manager
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respect the property they have been granted the right to use.
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like to bake things.
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actually take care of and love their pets.
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use medications as prescribed.
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are quickly becoming the majority.
Steve
Post Edited (09-22-11 21:52)
When you put a senior designation on a park, you eliminate a significant portion of your universe of customers, and it is hard – if not impossible – to remove the designation down the road. So make sure that your park will be desirable – and capable of staying full – with only seniors over the long term. If your park has changed over time into a undesirable niche of the city, and many of the tenants are extremely old and have lived there since 1970, you might want to hold off until you can see where the park is heading next. It may morph into a family park that is more willing to live in the bad area of town. Just be careful and don’t jump into anything until you’ve done enough diligence.
There was a recent court case where a resident could not sell his home in a 55+ MHP so he sued the park owner. Court ruled that since there was no 2-year verification of the 55+ status for the MHP it was no longer a 55+ MHP and the residents could sell their homes to anyone that qualified whether senior or family.
I have to imagine that opens up the door to massive litigation against the park owner, since the folks that bought in assuming a senior designation have now been harmed by the negligence of the park owner – even class action in size.
Thank you for the insight.