Mobile home cooperatives

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Manufactured/mobile home cooperatives are very popular in Florida. Residents who live in mobile home communities who rent their lots are purchasing their communities to save their homes. The quickest and easiest method of purchasing a community is by developing a cooperative. This form of ownership is governed by Chapter 719, Florida Statutes.

According to Marty Pozgay, president of Florida Community Services Group, a company that assists residents with the purchase of their communities, mobile home communities that become resident owned see their values increase. In addition, the residents' home values increase as well.

There are approximately 550 resident owned parks in Florida, according to the Department of Business and Professional Regulations that oversees permitting of mobile home communities.

With cooperative ownership, a resident's home becomes real property. Instead of paying lot rent, residents who purchase a share in a cooperative will pay a maintenance fee that is less than what they would pay if renting the lot. If the person is a resident of Florida, he or she can take advantage of homestead exemption.