Rents spike as big-pocketed investors buy mobile home parks


              A child rides a bike down the street in the Ridgeview Homes mobile home community in Lockport, N.Y., June 23, 2022. Some of the residents in Ridgeview are participating in a rent strike as reaction to new owners of the community introducing a six percent rent increase. The plight of residents at Ridgeview is playing out nationwide as institutional investors, led by private equity firms and real estate trusts and sometimes funded by pension funds, swoop in to buy mobile home parks. (AP Photo/Lauren Petracca)
            
              Jill Roberts poses for a portrait in front of her home in the Ridgeview Homes mobile home community in Lockport, N.Y., June 23, 2022. Roberts is one of the mobile home residents participating in a rent strike in reaction to a proposed rent increase being introduced by new owners of the property. Roberts, who has lived in her home since early 2020, says she has thought about leaving and is concerned about the clarity of the water in the park and recurring sewer issues. (AP Photo/Lauren Petracca)
            
              David Harm waters plants outside of his home in the Ridgeview Homes mobile home community in Lockport, N.Y., June 23, 2022. Harm is one of the mobile home residents participating in a rent strike in reaction to a proposed rent increase being introduced by new owners of the property. "They just want more money and they don't care what happens," said Harm. The plight of residents at Ridgeview is playing out nationwide as institutional investors, led by private equity firms and real estate trusts and sometimes funded by pension funds, swoop in to buy mobile home parks. (AP Photo/Lauren Petracca)
            
              Sharon Ruth, left, and Sandy Lees pose for a portrait in the Ridgeview Homes mobile home community in Lockport, N.Y., June 23, 2022, Ruth and Lees, president and vice president of their neighborhood association, have organized a rent strike in reaction to a proposed rent increase being introduced by new owners of the mobile home park. "We want change," said Lees. "We need the place to be safe. We need the place to be healthy." (AP Photo/Lauren Petracca)
            
              Jeremy Ward unloads groceries from his car to his home in the Ridgeview Homes mobile home community in in Lockport, N.Y., June 23, 2022. Ward is one of the residents at Ridgeview participating in a rent strike after new owners of the park announced they were raising rents by six percent. "I moved here because it's basically the most affordable living," said Ward, who is disabled and living off of a fixed income. The plight of residents at Ridgeview is playing out nationwide as institutional investors, led by private equity firms and real estate trusts and sometimes funded by pension funds, swoop in to buy mobile home parks. (AP Photo/Lauren Petracca)
            A line of manufactured homes. (AP Photo/Lauren Petracca)
            
              Jahi Black, 7, uses a speed bump as a jump for his bike outside of his grandmother's home in the Ridgeview Homes mobile home community in in Lockport, N.Y., June 23, 2022, Despite 123 mobile homes being occupied in the community, there is no designated play area for kids. (AP Photo/Lauren Petracca)
            
              Sharon Ruth shows a picture on her phone of water she collected that came out of her faucet in the Ridgeview Homes mobile home community in Lockport, N.Y., June 23, 2022, Since Cook Properties bought the community in 2020, residents complain that it hasn't been maintained as well as it once was and some of the homes are dealing with water and sewage issues. (AP Photo/Lauren Petracca)
            
              Joyce Bayles, 85, mows the lawn around her home in the Ridgeview Homes mobile home community in Lockport, N.Y. , June 23, 2022. The 85-year-old resident has taken to mowing her own lawn because crews for Ridgeview show up only monthly. Bayles is not participating in a rent strike with other residents of Ridgeview and doesn't want to get involved. "They're going to raise the rent and there's nothing I can do about it," said Bayles. (AP Photo/Lauren Petracca)
            
              One of the entrances to the Ridgeview Homes mobile home community in Lockport, N.Y. is shown June 23, 2022. For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a once family-owned mobile home park in upstate New York. That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland about 30 miles northeast of Buffalo. The plight of residents at Ridgeview is playing out nationwide as institutional investors, led by private equity firms and real estate trusts and sometimes funded by pension funds, swoop in to buy mobile home parks. (AP Photo/Lauren Petracca)
            
              Jeremy Ward poses for a portrait in front of his home in the Ridgeview Homes mobile home community in Lockport, N.Y., June 23, 2022. Ward is one of the residents at Ridgeview participating in a rent strike after new owners of the park announced they were raising rents by six percent. "I moved here because it's basically the most affordable living," said Ward, who is disabled and living off of a fixed income. The plight of residents at Ridgeview is playing out nationwide as institutional investors, led by private equity firms and real estate trusts and sometimes funded by pension funds, swoop in to buy mobile home parks. (AP Photo/Lauren Petracca)
Rents spike as big-pocketed investors buy mobile home parks