George Allen / EducateMHC Blog Mobile Home & Land Lease Community Advocate & Expert

Blog Posting # 760, Copyright 22 September 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities, and official record of annual MH production totals since 1955, and my autobiography, From SmittyAlph6 to MHMaven  – describes combat adventures in Vietnam, and a 45 year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrinee, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

STORM CLOUDS ARE GATHERING

MHAction’s National Gathering (of land lease community tenants & activists) in Washington, DC., on 5-8 November; PLUS, recent Class Action Complaint – Jury Trial Demanded by homeowners/site lessees as plaintiff, against ten defendants – all well-known firms in the MH industry and real estate asset class; PLUS pending chassis removal legislation that might well change the nature – good and bad, of HUD-Code manufactured housing going forward. Are you paying attention? If not, benchmark this blog posting as your motivation to get involved!

Frankly, I wonder if anyone is paying attention. I’ve heard and read nary a thing about these three gathering storm clouds – beyond an invitation to attend said MHAction event, a copy of the aforementioned lawsuit, and WHITE PAPER on chassis removal published and distributed by the Manufactured Housing Association for Regulatory Reform (‘MHARR’). How ‘bout you?

At the recent SECO Conference in Atlanta, GA. (10-12 September), all these issues – and more, were parsed during private and small group discussions. Read our previous blog posting for details.

Next event? First ever Manufactured Housing Forum, hosted by Information Management Network (‘IMN’), to occur in Nashville, TN., on 28 & 29 September. This appears to be an interpersonal networking conference supplemented with ‘educational content & industry insights’. IMN appears to be a ‘global organizer of institutional, finance, investment, and real estate conferences.’ But what do they know about the dynamics of our industry and realty asset class? I’d say, from the list of presenters and misuse of trade terminology, very little.

Know what? IMN’s forum is NOT really the next meeting of interest – to some, if not many, of us. That would be the annual SHED SHOW in Knoxville, TN., 27 & 28 September. Shed Show? Yep; shed builders from across the U.S. gather annually to learn more about their fabricated product and where their market might be going. I, for one, see sophisticated ‘sheds’ as the next Tiny House, along with ‘capsulehouses’- I haven’t even told you about yet.*1

Next event? Manufactured Housing Institute’s (‘MHI’) annual meeting on 2-4 October in Palm Springs, CA. MHI says this will be ‘an opportunity to exchange information with industry friends, stay current on housing marketplace trends, and attend …meetings.’ Hmm. One can only guess whether one or more of the three aforementioned ‘storm clouds’ will be on any fixed or informal agenda at this meeting of our industry’s primary national advocacy organization. I have been told the pending chassis removal legislation will be openly discussed. Good!

Next event? MHI’s NCC Fall Leadership Forum on 1-3 November (Just two days before MHAction’s national gathering in Washington, DC.), in downtown Chicago, IL. In this case, NCC claims its’ forum is the sole strategic executive level event of the year for national community owners. Great! Just the place to discuss the ‘storm clouds’ gathering against the industry and real estate asset class’! But will that happen? My guess is, ‘No’.

Next event? There is none – until January of 2024, when ‘everyone who’s anyone’ in MH and communities travels to the Louisville MHShow on 17-19 January. At this point we can only hope the ‘powers that be’ will exert authority and plan opportunities for businessmen and women to learn more about what they should be hearing from national advocacy bodies, about the gathering ‘storm clouds’ – but aren’t.

End Note.

1. Accessory Dwelling Units (‘ADU’) now include park model RVs, Tiny Houses, sheds equipped as houses, and capsulehouses. For more on this subject read my upcoming article, ‘RVs as Affordable Housing’.

‘WASHINGTON WATCHDOG’ BARKS

The Manufactured Housing Association for Regulatory Reform (‘MHARR’) has long been acknowledged and appreciated as our industry’s ‘Washington (DC) Watchdog’. Since 1985 it has closely followed, and often combated, attempts by regulators to amend and complicate the HUD-Code that’s been in place since 1974/76. Today it appears we have a new regulatory challenge facing us in manufactured housing circles, in the form of two house bills.

To that end, MHARR recently (September 2023) published and distributed a “Position Paper & Plan of Action on Two Pending Legislative Proposals Regarding Deletion of the PERMANENT CHASSIS Requirement, and Other Matters’.

Relative to what MHARR refers to as the ‘surgical removal’ of ‘the five-word clause “built on a permanent chassis” from the 1974 Act, here’re observations gleaned from this WHITE PAPER:

First off; ‘surgical removal’, as stated, refers simply to the five-word clause (‘built on a permanent chassis’); meaning, it is important, even vital, said removal does not negatively affect the remainder of the statute.

So, what is ‘the worry’? Perhaps, types of housing without a metal/steel chassis might now be classified as manufactured homes! This could include a variety of Accessory Dwelling Units (‘ADUs’) – or, using a new housing term: ‘off-site construction’, e.g., “panelized systems, manufactured homes, tiny houses, recreational vehicles, modular/pods, and shipping containers.”*1 This being the case – presumably, anywhere a HUD-Code manufactured home is welcome now, would necessarily include these, and other, examples of ‘off-site construction’. Dual consequences: Increased competition for traditional manufactured housing fabricators, but also new forms of affordable housing available to the American home-buying public.

And there’s yet another perspective. A HUD-Code manufactured home sans permanent chassis would likely be welcome in subdivisions and on scattered building sites conveyed fee simple. So, more business for our traditional manufactured housing fabricators! However, new HUD-Code homes sans permanent chassis would not likely change land lease community operations all that much – except for being able to install them closer to the ground.

A final observation, for now, on this subject of chassis removal. How might all this shake-out, given the present month-by-month (-28%) slide in new HUD-Code housing production? Yes, it’d be nice to be able to site more manufactured homes in subdivisions and on scattered building sites conveyed fee simple; but what might be the harm, if less expensive types of ‘off-site construction’ began showing up on rental homesites in land lease communities? Think about it.

The Other Matter. The WHITE PAPER also delves into two consumer finance-related issues. MHARR opines repeatedly that these concerns are foci of two major MH industry lenders, via MHI lobbying. Frankly, I have difficulty following the reasoning here, but was hooked by the phrase: “MHI has provided Fannie Mae & Freddie Mac with a ready excuse and rationalization for their failure to include chattel manufactured housing loans within their DTS implementation programs.” *2 This matter bears more study.

If you have personal and corporate observations relative to these two issues, please let me know via gfa7156@aol.com

End Note.

1. As first posited at the June 2023 ‘Off-Site Construction Summit’ in Washington, DC.

• DTS = Duty to Serve

DID YOU KNOW?

A Press Release from CIS Home Loans, via Darrell Boyd, VP of business development.

“We are excited to present our exclusive finance program at CIS Financial Services, specifically designed for the resident in your land lease community. Whether you aim to assist them in purchasing a new home, refinancing their existing property, or guiding them through the transition from renting to becoming homeowners, CIS is committed to offering the ideal financial solution.” CIS program welcomes ITIN borrowers, credit scores below 600, covers new and resale homes, single and multisection homes, and much more.” Loan terms were not included in this Press Release, so…

For more information, reach Darrell Boyd via dboyd@cishomeloans.com or (270) 748-7702

A SECO CONFERENCE BONUS

Were you at the SECO Conference in Atlanta, GA., last week? If so, you likely participated in the patriotic and emotion-stirring commemoration of ‘9/11’ – that historic and tragic terrorist attack on U.S. soil back in 2001. Everyone in the audience stood and recited the Pledge of Allegiance to the American Flag, then listened to retired USMC major, Scott A. Huesing, relate his harrowing experiences as an infantry company commander in Iraq.

In addition to suggesting every manufactured housing gathering begin in like fashion, most everyone should obtain a copy of Scott’s book, ‘Echo in Ramadi’ – the firsthand story of U.S. Marines in Iraq’s deadliest city. It’s available for purchase at amazon.com  I found it to be an engaging ‘read’. For me, the richness was found in comparing his combat experiences (relative to equipment, strategy, technology, & more) with what I experienced as a USMC company commander in Vietnam 54 years ago. For you, the ‘takeaways’ will likely be encouraged at the quality of young men and women in our military today, and gratefulness that we’re finally out of that conflict!

George Allen, CPM, MHM

Blog Posting #759, Copyright 15 September 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities, and official record of annual MH production totals since 1955 and my autobiography, From SmittyAlpha6 to MHMavaen – describe combat adventures in Vietnam, and a 45 year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrine, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

SECO DELIVERS!

More than 500 land lease community owners/operators, would be investors, service and parts suppliers, and HUD-Code housing manufacturers were present in Atlanta, GA., this week to attend the 12^th SECO Conference, and tour four new HUD-Code homes! What follows is not an event by event recitation of what occurred during Monday, Tuesday & Wednesday, but rather a potpourri collection of observations and lessons learned at this annual seminal conference.

Monday, besides being Manager Monday, commemorated the 22^nd anniversary of ‘911’ – that tragic day in U.S. history when our homeland was attacked, in New York City, Washington, DC. and rural Pennsylvania, by terrorists in hijacked commercial airliners. SECO organizers arranged for two combat veterans, of the Iraq and Afghanistan conflicts, to be keynote speakers, opening this year’s event.

Following audience recitation of the pledge of allegiance to the American flag, Scott A. Huesing, a retired USMC major, shared his combat leadership experiences. For Scott’s exciting story, read ‘Echo in Ramadi’, a firsthand story of U.S. Marines battles in Iraq’s Deadliest City. Then, Scott Mann, retired USA Lt. Col., shared his heart-stirring experiences arranging the emergency evacuation of a highly respected Afghan commando and his family from that country. Scott’s book, ‘Operation Pineapple Express’, details what he and his eclectic group of veterans did to make this happen. Both books are available for purchase, in print & Kindle versions, from amazon.com

As far as ‘industry news’ is concerned, the first stirring public announcement had to do with CAVCO Industries’ stated intent to encourage more direct new home sales with land lease community owners/operators nationwide. To this end the firm has launched a new branding campaign under the name of CAVCO Communities, spearheaded by former Fleetwood Sales executive Steve Quick.

So, what are the ‘hot topics’ these days, relative to manufactured housing and land lease communities? While not on the formal SECO agenda per se, there was nary a group conversation where the following three matters didn’t receive lively comment and discussion:

• The recent Class Action Complaint – Jury Trial Demanded, filed in U.S. District court, northern district of Illinois. Here, homeowners/site lessees, as plaintiffs, have filed this class action complaint to recover treble damages, injunctive relief, and other relief, from no fewer than ten defendants – all well-known firms in the industry and real estate asset class. Nature of the action? Alleged actions by the defendants to “…fix, raise, maintain, and/or stabilize manufactured home lot rental prices.” General voiced attitude? This would not have happened if land lease communities were far better represented, and said matters addressed, in quasi-public fashion well before getting to this point. Now that ‘the horse is out of the barn’, our businessmen and women will have to deal with the consequences. Hope this is a ‘wake-up call’ for national advocacy bodies!

• While no Class Action Complaint to date, or known anti-trust actions by governmental agencies, the factory-built housing manufacturer sector of the industry might be suspect for conspiring to fix, raise, maintain, and/or stabilize manufactured housing pricing on new units produced and shipped. Appears that no sooner does one manufacturer announce price adjustments to customers, than other manufacturers follow suit. General voiced attitude? Given the manufacturer-dominated nature of our national advocacy groups, there is very little that other segments of the MH industry can do to combat this restraint on competition. Sadly, there is ‘no light at the end of this tunnel’.

• Pending manufactured housing ‘chassis’ legislation and a recent White Paper published by the Manufactured Housing Association for Regulatory Reform (‘MHAR’). Gist of the conversation? Whether to support, or not, the concept of chassis removal, where HUD-Code homes are concerned. Appears land lease community folk see little value to them, relative to said ‘removal’; while manufacturers, independent (street) MHRetailers, and ‘company stores’ selling product onto scattered building lots conveyed fee simple, see significant advantage. And MHARR’s repeated use of the term ‘surgical removal’ needs explanation.  How do you feel about this issue? Reply via gfa7156@aol.com

On a lighter note, I learned a few new things during the SECO Conference.

Bumper sticker distributed at the event: ‘HONK If You Have a Park to Sell!’

Baseball cap with this logo: ‘Make Mobile Home Parks Great Again!’ What’s with this ‘mobile home park’ terminology? Thought we were well beyond that in year 2023! Long live land lease communities!

A new acronym to me: Do you know what NINJO means, from a financial perspective? How ‘bout ‘No Income, No Job!’ loan candidates. Aha! Repeating the $ errors of year 1998? Let’s hope not.

And while there were several exhibitors present with Christian backgrounds, I found the verso (back) side of the Newby Management (Ellenton, FL) business card to be particularly telling. Their Mission Statement? “Sharing the Love of Christ, While Providing Unique Management Services for the Manufactured Housing Industry.” As an aside, I’ve been familiar with this community fee-management firm since the early 1990s, when founder Martin Newby (now retired in NC) was one of 19 community owners who stepped forward to help launch the Industry Steering Committee (‘ISC’) cum National Communities Council (‘NCC’) division of the Manufactured Housing Institute (MHI’). Lotta interesting history around land lease communities and their owners/operators! For example, read the Allen Legacy column in current issue of MHInsider magazine; titled, ‘Vietnam War Veterans in the Manufactured Housing Industry’.

There’s so much more I could tell you about this year’s SECO Conference, but it’ll have to wait for a subsequent weekly blog posting.

George Allen, CPM, MHM

Blog Posting @ 758, Copyright 8 September 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order

Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities, and official record of annual MH production totals since 1955; and my autobiography, From SmittyAlpha6 to MHMaven – describes combat adventures in Vietnam, and a 45 year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrinee, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

SECO, HERE WE COME!

Simply put; anyone who’s anybody among land lease community owners/operators, single properties or portfolios thereof, will be at the 12^th SECO Conference in Atlanta, GA., next week!

I’ll be driving down from Indianapolis, IN., on Sunday (will miss the MLB game), to be in place to help commemorate the 9/11 terrorist attack on the U.S. THEN the education begins! Nowhere, at no other time this year, will land lease community folk be treated with greater variety and level of expertise, relative to timely and critical topics affecting this unique income-producing property type!

If not already registered, go to SECO.com and prepare to attend this topnotch manufactured housing industry event! See you there!

RETIREMENT ADVENTURES

Personal retirement has not gone as hoped or planned, but what ‘has happened’ has been, in a word, fulfilling.

GFA Management, Inc., dba PMN Publishing, no longer exists. No one stepped forward to pick up where I was leaving off. So I watched 40 years of creative effort fade into history. No more Networking Roundtables, no more annual ALLEN REPORTS, no more newsletters, no more ‘shopping’ of land lease communities, and on and on. But know what? If any of this turns out to be really needed in the future, someone will step up to the plate, figuratively speaking, and recreate those and other products and services for the real estate asset class.

Know what has happened though? No fewer than four major writing projects completed to date!

A year before 2021 retirement, I started penning my memoirs (i.e. short stories from youth, marriage to Carolyn, combat tour in Vietnam, and 50 years business career), then collected into  my autobiography: ‘From SmittyAlpha6 to MHMaven’. As most folk already know, ‘Smitty Alpha 6’ refers to my radio call sign as a company commander in RVN; the MHMaven is an Allenism/abbreviation for ‘manufactured housing maven’. The autobiography debuted at the ‘last Networking Roundtable’ during August 2021 in Nashville, TN. It’s available for purchase via www.educatemhc.com

Next major writing project? Daughter Susan & son Adam subscribed to StoryWorth in behalf of Carolyn and me. This meant, for a year, StoryWorth sent us weekly questions to answer (if so desired, or draft our own question). These had to do with our respective childhoods, schooling, family relationships, courtship, three generations of progeny, and entrepreneurial pursuits. End result? A 400+ page case bound book, titled ‘George & Carolyn’, containing said stories. Copies printed and bound for our children, grandchildren, and great grandchildren. And know what? Learned tales about Carolyn’s life experience I did not know before!

During year 2022, I transcribed more than 400 handwritten letters I’d sent home to Carolyn from Vietnam in 1968 & 69. Whew! That was a lot of typing (i.e. two hours per workday for 13 months). Renewed a lot of lost memories, reunited with past Marine buddies, and it was a catharsis for pent-up emotions suppressed more than 50 years. Resulting work? A 700 page manuscript with only three copies made, one each for Susan, Adam, and Carolyn & me. So glad I did it!

In year 2023 my writing project took a different form. Not a book or lengthy manuscript, but a heavily researched article titled ‘RVs as Affordable Housing’. This was requested by an academic magazine published at a Midwest university. While I don’t usually see myself as a recreational vehicle aficionado, I do view RVs as a sister industry to manufactured housing, so felt comfortable with the assignment. And some of this year long research and writing occurred at the RV/MH Hall of Fame library in Elkhart, IN. Will let you know when the academic article is published.

So, what’s on tap for year 2024? Probably too early to tell, but I know what I’d like to write in the near or interim future; a ‘History of the RV/MH Hall of Fame’. Actually, the first two decades of that history, from 1972 thru 1993, was penned by the late Dr. Carlton Edwards, an RV/MH Hall of Fame enshrinee. His ‘work’ is published as Appendix B in the 1996 MH classic, ‘How to Find, Buy, Manage & Sell a Manufactured Home Community’, edited by yours truly. What I see doing, is picking up where Carl left off, and complete the history through year 2023. Will that happen? Probably a little too early to say for sure. What do you think?

AND THE SLIDE CONTINUES….

For once (again) all four reporting agencies agree with the Institute for building Technology & Safety’s (‘IBTS’) public reporting of 6,134 new HUD-Code manufactured homes ‘produced’ during July 2023.*1 That’s 28 percent fewer than last year during the same period; and even worse, it’s 28 percent fewer new homes produced year to date (‘YTD’)! And this is the third or fourth month in a raw where production has dropped below where it was a year ago.

That’s what’s happening. The question is WHY is it happening? Well, we’ve explored that question – and answers here, in weeks and months past; but so far, no relief – let alone turnaround – appears to be in sight! To me anyway, it seems the ‘powers that be’ (And lest you think otherwise, that’s the Big 3-C manufacturers: Cavco, Clayton, & Champion-Skyline) are either asleep at the proverbial switch, or simply don’t know how to take better advantage of the widely-acclaimed national affordable housing crisis! Hence, we’re still in this month-by-month production total slide (downwards).

Your ideas on this serious and timely matter? With SECO Conference coming up this next week, and MHI’s annual meeting soon thereafter, I’ll bet we get some independent thinking on this matter. Let me know via gfa7156@aol.com

End Note.

1. HUD, MHI, MHARR, & EducateMHC.

George Allen, CPM, MHM

Blog Posting # 757, Copyright 1 September 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance based, affordable factory-built housing! Ad land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and my autobiography, From SmittySlpha6 to MHMaven – describes combat adventures in Vietnam, and a 45 year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (“MHI’), RV/MH Hall of Fame enshrinee, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

COMING TO A TOWN NEAR YOU…

By now we all know of some consequences characteristic of takeovers (a.k.a. ‘acquisitions’) of institutional investment grade land lease communities by (often) hedge fund firms looking for places to park their money – in hopes of salacious ‘returns’ by way of rental homesite rate increases and imposition of previously-absorbed expenses.

Well, here’s an unabridged passage from a recent email message I received from the MHAction (That’s short for Manufactured Housing Action) folk announcing their 2023 National Gathering in Washington, DC, November 5-8.

“My name is Holly Hook and I’m a resident of Swartz Creek Estates in Swartz Creek, Michigan. I’m a member of MHAction because I believe everyone has the right to a safe, affordable home and community.

I bought my manufactured home because I needed an affordable place. In 7 years, I paid off my house and had reasonable lot rent that covered land, sewer and garbage. My neighbors were mostly low-income seniors who retired to our community. No one knew that our community was for sale until a notice appeared on our doors in July 2018 saying Havenpark Capital had bought us, and our lot rent was going up 22%.

Roughly 2 million people live in communities owned by the 50 largest community owners. Many operate like Havenpark, devastating seniors and families. And now some of the biggest private equity companies in the world are buying up mobile home parks.

That’s why we’re coming together for our 2023 National Gathering, which will be held in Washington, DC, from November 5 -8!”

Sincerely,

Holly Hook, MHAction resident leader.

LAST CHANCE TO HELP…

‘RVs as Affordable Housing’ is the title of a feature article I’ll soon submit for publication in an academic publication. Here’re the interior headers from the manuscript:

‘Fulltime RVers’ are considered by many to be a new breed of homeowner

Reasons for this emerging category of residency

At least nine types of recreational vehicles (‘RVs’)…described

A working definition of affordable housing

Definition of ‘residential housing’ is broadening

But there’s a problem, a challenge…

Examples of recreational vehicles being used, even preferred, as permanent housing

Where to buy new and used RVs to be used as temporary and permanent housing?

What does the future hold relative to RVs as affordable housing?

Do you have experience and or thoughts on any of these matters? If so, I need to hear from you soon, via gfa7156@aol.com

‘SECO’ = ‘SEEK TO LEARN!’

In little more than a week, hundreds of land lease community owners/operators and other manufactured housing aficionados will be making their way to Atlanta, GA., to participate in the 12^th annual SECO Conference. Will you be among that number? I sure will be. Planning to arrive on Sunday to be ready to help kick off this stellar event with a patriotic remembrance of the significance of September 11^th! Then, the rest of that day will be devoted to ‘Manager Monday’, replete with all sorts of learning relative to our unique, income-producing property type.

The next two days? Google SECO to learn the details and how to register for this ‘one of a kind’ educational event for land lease community folk.

While I am not a keynote presenter this year, I plan to be available as a ‘roving consultant’ regarding the marketing and sale of new HUD-Code homes on-site in communities, and how to preserve one’s legacy by penning personal memoirs or histories of one’s business enterprise. If seriously interested in either or both these seminal topics, and possibly others, please let me know beforehand via gfa7156@aol.com

I also plan to have a new surprise on hand for interested parties. As you may or may not know, over past decades, I’ve copyrighted Management Wisdom Cards related to Elements of the Management Process; Problem-solving Procedure; Management Success Formula; the WRITE card; and a 21^st Century Triad! Management Wisdom Cards were inspired by original, hand-laminated wallet cards we, as Marine lieutenants, carried into battle to aid in land navigation, first aid, calling for close air support and artillery fire. I truly believe I’m alive today thanks to tips and reminders contained on those cards, and used during the heat of combat in Vietnam. We’ve packaged these plastic Management Wisdom Cards in small envelopes and they’ll be ‘free for the asking’.

George Allen, CPM, MHM

Blog Posting # 756, Copyright 25 August 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing ! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and my autobiography, From SmittyAlpha6 to MHMaven – describes combat adventures in Vietnam, and a 45 years business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrine, retired lieutenant colonel of U.S. marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

WHO GOES?

I attend the annual RV/MH Hall of Fame induction banquet every year, and always come away with at least a tale or two to tell – here and elsewhere. This time around? Thought you’d enjoy reading a list of some of the manufactured housing-related ‘players’ who attended this year – on 21 August 2023.

In no particular order. Joe Stegmayer, past chairman of MHI and CEO of Cavco Industries ,in AZ; Mike Sullivan, CPM®, head of Newport Pacific family of companies in CA; Spencer Roane, MHM® of Pentagon Properties in GA; Mark Bowersox of MHI, along with a couple other staffers; Paula Reeves, president of CIS Financial Services in AL; Sam Landy and his team from UMH Properties in NJ; Ron Breymier, IMHA/RVIC in IN; Tim DeWitt, now retired in MI; Amy Bliss from WI; Eric Oaks of GreenState Credit Union in IL; Leo Poggione, Chairman, MHI Board of Directors, from NV; Dick & Becky Ernst from TX, and the MHInsider team from MI. These are attendees I know well; plus several hundred more were in attendance!

Who was inducted in this Class of 2023, from the manufactured housing industry? Darlene Stahla-Gardner, owner of Henry Stahla Mobile Homes (independent – street – MHRetailer) and four times past president of the NMHA. Marc Lifset, a longtime attorney with McGlinchey Stafford in NY, and perennial legal resource for MHI and others. Paula Reeves, president of CIS Financial Services since 1991, and member of Alabama MH Association Hall of Fame. Donald Sharp, long time financier of manufactured homes. Ronald Breymier, executive director for Indiana Manufactured Housing Association/Recreation Vehicle Indiana Council since 2015. Longtime lobbyist for the MH Industry.

Now here’s a little known statistic about RV/MH Hall of Fame enshrinees. To date there are 449 honored individuals. Care to guess the percentage of those members who’re deceased? Answer: At least 45 percent! Took time to count those folk, only to find that not all of them are so designated in the Hall of Fame roster distributed at the banquet. And this 45 percent should not really come as a surprise. The Hall of Fame has been inducting industry pioneers and leaders since 1972, and since one must have a minimum of 20 years service in RV or MH circles to be eligible, most inductees were middle-aged when honored. 

Interested in applying for induction into the prestigious RV/MH Hall of Fame, or recommending a deserving colleague? Then go to www.RV/MH Hall of Fame and print off the application and instructions on how to navigate this process.

National MHFacTOURy Summit 2023

This event has been occurring annually since 2016 (except for year 2020), the days following aforementioned RV/MH Hall of Fame Induction Banquet. Originally facilitated to teach land lease community owners/operators how to prepare their properties for on-site sales, how to ‘spec’ new MHs, buy new MHs, sell them on-site and finance transactions. Now that these specialized skills are commonplace among portfolio folk, the summit focus has changed somewhat.

This time around, Congressman Rudy Yakym presented a keynote address to the audience of 75. Then, Leo Poggione, chairman of MHI’s Board of Directors, and Craftsman Homes in NV., reviewed the advocacy work the institute is performing in our behalf in Washington, DC., relative to combatting aggressive, unnecessary energy standards by DOE, and enhancing placement of new manufactured homes within and outside land lease communities. Nathan Smith, CIO of REIT Flagship Communities gave perhaps the most riveting talk, relative to strategic decision making as a land lease community owner/operator. This was followed by a Lenders Panel featuring Eric Oaks of GreenState Credit Union, Luke Foster of Park Lane Financial Solutions, and Barry Noffsinger of Credit Human. Additional presentations were effected by Darren Krolewski from MHVillage, and Mike Niebauer of Rent Manager. The day ended with a manufacturers’ panel comprised of Jeff Tanner from Fairmont Homes, Jay Ciokajlo from Campion Home Builders, Shawn Carnahan from Adventure Homes, and Jasen Miller of Clayton homes. Don’t you wish you’d been in attendance?

The second day of this annual summit was spent touring five local HUD-Code manufacturing facilities.

Some Elkhart (IN) Miscellany…

Here are a few personal observations from the several days I spent in Elkhart, IN., at the RV/MH Hall of Fame, prior to and during the induction banquet, and afterwards:

Appropriate trade terminology continues to be a bugaboo (‘a fanciful object of terror) throughout the manufactured housing industry. How so? We should be routinely referring to our factory-built housing product as manufactured housing, or simply ‘housing’. Not ‘mobile homes’ or worse. And, what used to be ‘mobile home parks’, then manufactured home (not ‘housing’) communities, is increasingly referred to as being land lease communities – or simply ‘communities’. There were even MHI-produced Power Point visuals that mixed some of those terms. We really do need to concentrate and do better to this end – to improve our image, etc…

History appears to be repeating itself! Again, how so? It’s becoming a renewed issue as to whether the HUD-Code manufactured housing industry would be better off, or not, having the option of removing the steel (wheeled) chassis from under our homes proper upon delivery. Consensus, at the aforementioned summit, seemed to be this would be a market-opening improvement for new manufactured homes delivered into housing subdivisions and onto scattered building sites conveyed fee simple…facilitating easier and cheaper real estate mortgage financing. And continuing to keep the chassis under said homes would continue to be ideal for those delivered directly into land lease communities. Your thoughts on this matter? Gfa7156@aol.com

And finally; where have all the property portfolio executives gone? They’re not in attendance at most manufactured housing events these days. Oh sure, a few attend from time to time for networking, etc., but not much else. For example, one could count on one hand (figuratively speaking) the number of senior execs present at the RV/MH Hall of Fame banquet. This is the gala event of the year, yet the heads of MHI and MHARR were ‘no shows’ (Mark Bowersox was present from MHI), nor were the present leaders of the Big 3-C HUD-Code manufacturers; and certainly ‘very few’ of the 500 land lease community portfolio owners/operators in the U.S. today. Which, by extension, accentuates the fact that virtually no one from Canada was present at the events in Elkhart this past week.

BOOK REVIEWS – OLD & NEW…

As I shared with you earlier, I’ve continued my new practice of reading a new book (usually a novel), then an ‘oldie but goodie’ from years past.

Well, this week I picked up and read Miles Nelson’s newest Cape May (NJ) mystery, titled ‘Death Rents a Beach House’. It was a ‘good read’, fast paced, with good character development and intriguing plots. A special attraction for me was how the author wrote my younger brother Mark Allen into and throughout this murder mystery novel. For example: “…(Sheriff) Saxby was making his way towards the outside fire pit with a glass of Cape May Cabernet when he almost bumped into this friend Mark Allen, a local radio host and well known man-about-town.” Soon thereafter, Mark provides a key clue to solving a couple recent murders in Cape May. This is Nelson’s fifth novel. Mark interviewed him on his Friday noon radio program the week Carolyn and I were in town to visit, and we met him late in the day at a party. The book is easily available via amazon.com

Then I pulled out my copy of ‘Shite’s Unoriginal Miscellany’, by A. Parody, for a reread. Don’t miss this: A. Parody? Parody = “a humorous imitation of an author’s or artist’s style, a burlesque, and to ‘imitate in a derisive manner’.” Here’re a few of the gems I mined from these pages:

Portmanteau words = ‘a word made by combining parts or other words’, e.g. brunch (breakfast & lunch). Also emoticon = emotion & icon; faction = fact & fiction; hassle = haggle & tussle; palimony = partner & alimony; workaholic = work & addict; and there’re plenty more. P.45

Palindromes = “a word whose letters read the same backward as forward, e.g. level.

Ready for these? Here goes: nun, did, hah (exclamatory), bib, mom (US), pip, gag, tit (ornithol), Lil (proper name), ere. P. 112

And there’s much more to Shiteseries books like this, as they bring together “a mass of arcane, vital, or merely fascinating information.” Also available via amazon.com

George Allen, CPM, MHM

Blog Posting # 755, Copyright 18 August 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry.  This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and m autobiography, From SmittyAlpha6 to MHMaven–describes combat adventures in Vietnam, and a 40+ years business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrine, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

TIME TO REBIRTH FOCUS GROUPS?

Do you remember? Soon after the turn of the (21^st) century, informal convenings of land lease community owners/operators occurred on a fairly regular basis. These gatherings were HUD-Code manufacturer- sponsored (e.g. Fleetwood Enterprises), NSAC Caucuses (i.e. National State of the Asset Class), and owner/manager Focus Groups. These were in addition to biannual MHI membership meetings, the MHCongress (in Las Vegas), and annual International Networking Roundtables – all of which sought answers/solutions to the industry’s increasing woes.

So, what was the woe impetus for this plethora of meetings? HUD-Code manufactured housing production was ‘tanking’! In 2007, when the Fleetwood Enterprises meeting and an NSAC Caucus convened, annual new MH production had plummeted from the 1998 high of 372,943+/-*1, down to 95,769+/-, and continued to drop until we hit the industry’s all time nadir of only 49,789+/- homes produced in 2009.

These meetings were not really all that successful, where ‘turning the industry around’ was concerned. However, they did foster an awareness and reckoning as to what was going on throughout the industry and realty asset class. It was during these meetings this reality hit: Having lost easy access to chattel capital (i.e. home-only loans) at the turn of the century, according to MHI, more than 10,000 MH ‘dealers’ went out of business. Consequence? In time, in time, a paradigm change that found owners/operators of land lease communities, in order to survive (i.e. create influx of new homes to fill vacant rental homesites), became latter day independent (street) MHRetailers for the industry!

Frankly, as an industry, we have not fully recovered from this now two decades long ‘recession’. By year end 2022 we were at 112,886 new HUD-Code homes shipped – far less than half of what was produced during the industry’s last renaissance in 1998. And at this point (June 2023) new MH production continues to falter – at 28.8 percent less than where we were a year ago!

So, in this industry observer’s opinion, it’s high time to call entrepreneur businessmen and women together, outside the usual national trade advocacy groups, to identify appropriate measures and corrective actions, to get us back on track to 100,000+ new HUD-Code homes produced per year.

Yes, such a move, IMHO, should come from the HUD-Code housing manufacturers themselves. But it’s not happened to date. (Probably due to fear of being accused of controlling trade practices). Nor have the Big Three C HUD-Code housing manufacturers called ‘company stores’ and independent (street) MHRetailers (i.e. land lease community owners/operators selling new HUD-Code homes on-site) together, to address this timely and critical matter. It appears the onus (‘challenge’) will be and is, on the land lease community real estate asset class. Enter the Focus Group model of years past.

How did the Focus Groups function two decades ago? First off, a leader stepped forward, and with the assistance of a few like-thinking peers, spread word of the need to get together for a couple days. Usually a large host land lease community with a clubhouse was identified as the meeting destination. Then a letter of inquiry was circulated, gauging interest and requesting input as to desired topics for this event. The host or leader compiled said topics and selected three to five for the upcoming Focus Group meeting. Next communique established the dates and time frame, often a Thursday and Friday combination.

On the scheduled Thursday, everyone attending flew or drove to the stated destination, most staying at the same nearby hotel. That evening they’d gather for dinner and networking. Next morning everyone carpooled to the host property, and after a quick tour, convened in the clubhouse. Program was usually underway by 9AM, with topics loosely scheduled for one hour sessions – though flexible to 1 ½ hours when need be. So, there’d be two or three topics during the morning hours, followed by a ‘working lunch’, and one more scheduled topic in the afternoon. No rush to close the meeting, though some would leave early to catch flights home on a Friday afternoon. Often, half the group would remain and continue conversations on the covered and other topics. Everyone present at the meeting agreed to maintain confidence about matters discussed. And after the meeting, the leader prepared a summary of what transpired and circulated it to everyone who attended. Focus Group meetings generally attracted between a dozen and two dozen owner/operator participants.

Yes, these were small groups, in terms of participants, that’s why it’s appropriate to have several Focus Groups meeting at different times in different parts of the country – to remain sensitive to local housing market peculiarities, and the busy schedules of entrepreneur businessmen and women.

If you’d like to talk about Focus Groups further, let me know via gfa7156@aol.com

I expect Focus Groups will be one of the several topics of discussion at the upcoming RV/MH Hall of Fame induction banquet and festivities this weekend.

End Note.

1. This question always surfaces: ‘Why the (+/-) notation after some annual MH production figures? It’s because HUD’s contracted ‘counter’ of new MHs produced, the Institute for Building Technology & Safety (‘IBTS’) publishes monthly totals, which are accepted and passed on by MHARR, EducateMHC, & HUD ‘as is’, while at least another national group routinely ‘adjusts’ the IBTS  monthly total as a matter of practice.

ARE YOU A READER?

On average I read two books most weeks; usually one from the fiction genre and one that is non-fiction or with a spiritual focus. As a result, my personal library numbers close to a thousand books. (I’ve already donated our corporate – GFA Management, Inc. – library to the RV/MH Hall of Fame, given its’ focus on land lease communities).

I realized, a couple months ago, that even if I started now, I’d be unable to reread all my volumes ‘again’ during this lifetime. So, decided to intersperse favorite ‘past reads’ with the new books I continue to purchase. Well, that’s already been an interesting adventure. How so? Well, let me describe just a few of the recent favorite rereads:

Ever hear of the book ‘Greyfriars Bobby’ by Eleanor Atkinson? She authored it in 1912. It’s about a Bobby, “…a little country dog – the very youngest and smallest and shaggiest of Skye terriers – bred on a heathery slope of the Pentland hills (in Scotland).” The story follows Bobby through his long (dog’s) life, describing his loyalty to his deceased master, and popularity with local children. So much popularity, that when Bobby died, a large bronze statue of him was placed in the Edinburgh central square. It is a tear jerker, but engaging read. This was my third time through it. Oh, and Eleanor Atlkinson’s only other novel? ‘Johnny Appleseed’.

And given my Vietnam experience of 55 years ago, I relished the opportunity to read again, Karl Marlantes’ ‘ Matterhorn’; and one by personal acquaintance, now deceased Don Myers’, ‘Your War, My War’. Karl was a Marine lieutenant when in Vietnam – like me, and during same time frame, and in same locale (Ahau Valley & Ho Chi Minh Trail). Very well written historic novel of (his?) experience in RVN. And Don Myers, an enlisted Marine of three combat tours, minces no words when describing what it’s like to be a Marine in combat. I quoted his description, in my autobiography, of a brutal assault during Operation Dewey Canyon, where his men were shouting and singing the Marine Corps Hymn as they overran North Vietnamese soldiers. Two really good reads – just not for the faint of heart or those disturbed by graphic descriptions and language. Both these books available via Amazon.com

And yes, I’ve been inserting some ‘fun reads’ into the mix along the way. In one instance, I reread ‘The Consolidated Wagster’s Unexpurgated Dictionary of Humor and Wit’, published in 1990. Some examples:

Code, (n), what stops up your nose.

Entrepreneur, (n), like a turtle, not much good until he sticks his neck out a little.

Frog, (n), the only animal with more lives than a cat: it croaks every night.

Golf, (n), a lot like taxes: you drive hard to get to the green and then wind up in the hole.

Nepotism, (n), putting on heirs

Old age, (n), 1) when you now all the answers and no one asks you the questions, 2) when everything you have seems to wear out, spread out, or fall out, 3) when all the names in your little black book end in M.D., 4) when you get winded playing chess, 5) when you are 20 around the neck, 50 around the waist, and 123 around the golf course.

Socialist, (n), one who has nothing and wants you to divide with him.

Success, (n), the ability to get along with some people – and ahead of others.

So, what are some or your favorite reads to date? GFA7156@aol.com

NO QUOTE THIS WEEK, JUST AN AMAZING PUZZLE

Supposedly this happens only once every 1,000 years. Ready? OK, write down your present age. Immediately under it write your birth year. Add the two numbers together – and what do you get? Should be 2023…this year! For example, my age is 78. Add to that my birth year of 1945, and the sum is 2023. Does this work for you? Ah Ha!

George Allen, CPM, MHM

Blog Posting # 754, Copyright 11 August 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and my autobiography, From SmittyAlpha5 to MHMaven – describes combat adventures in Vietnam, and a 40+ year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrinee, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, and prayer.

MH POTPOURRI

Carolyn and I traveled this past week, so I’ve fallen behind in some of my routine writing research relative to this weekly blog posting and other assignments. No excuse, just the reason for the potpourri (i.e. ‘a mixture of literary composition’) here following:

Did you know? The dates for the 2024 Louisville MHShow are 17-19 January 2024. This is one of those few ‘must attend’ industry events when you’re a bona fide  ‘player’ in manufactured housing and land lease community circles. Though retired, I certainly plan to attend; hope you do too. More details to follow when they become available.

Then there’s the soon annual RV/MH Hall of Fame induction banquet in Elkhart, IN., the evening of 21 August 2023! Expecting 400-500 attendees at this prestigious event. For tickets, phone (574) 293-2344. If attending alone, ask to be seated with Spencer Roane, MHM, and I. Two more reasons to be in Elkhart that day – and maybe the next two days. First off, I’m making myself available for anyone who read last week’s blog posting (‘30^th Anniversary of Community Unity?’), suggesting group discussion about industry/asset class issues and challenges (i.e. ‘Think ‘rent control’, etc..). Also, if starting to pen your memoirs, I’d be happy to meet privately with you as well – and if you don’t already have the new booklet: ‘Who Will Preserve Your Legacy? Answer: You!’, I’ll give you one at that time. So, if interested, let me know via gfa7156@aol.com and I’ll make meeting location arrangements (likely in the RV/MH Hall of Fame library or auditorium).

And, if in Elkhart for the banquet, consider staying over to participate in the 7^th National MH facTOURy program at the same location. This two day program of new home sales seminars and plant tours began in 2016 as a means of teaching land lease community owners/operators how to prepare their properties for home sales, how to select homes to sell, how to market and sell homes, and how to arrange financing. For more information, phone (317)  247-6258.

See you  on 21, 22 & 23 August at the RV/MH Hall of Fame in Elkhart, IN. And while there, don’t forget to visit the new manufactured housing exhibit hall. Well worth time to tour.  GFA

MISERY LOVES COMPANY –  OR DO WE?

Here’s what the Manufactured Housing Association for Regulatory Reform (‘MHARR’) recently told us about the continuing downward trend relative to new HUD-Code manufactured housing production:

“MHARR reports, according to official statistics compiled on behalf of the U.S. Department of HUD, manufactured housing industry year-over-year production declined again in June 2023. HUD Code manufacturers produced 8,169 new homes in June 2023, a 28.1% decline from the 11,373 new HUD-Code homes produced in June 2022. Cumulative production for 2023 is now 43,888 homes, a 28.8% decrease from the 61,659 homes produced over the same period during 2022.” The rest of the statistics story? These numbers collected and published by the Institute for Business Technology & Safety (‘IBTS’), and are NOT adjusted by deducting Destination Pending units, only to add them back to the IBTS total the following month….

And here’s a near parallel account describing what’s going on in our sister industry, that of recreational vehicles (‘RVs’). Under the headline, ‘RV industry steers through post-pandemic U.S. slump’, we read of this dire state of affairs: “As demand evaporated, (RV) manufacturers hit the brakes. North American shipments of new motorhomes and trailers, almost all of which are produced in the U.S., are expected to plummet to 300,000 this year, about half the number shipped in 2021, according to the RV Industry Association.” And just how ‘bad’ is that? “Retail sales of RVs are on track to be the lowest since 2015, said Ferrando, CEO and president of Fort Lauderdale Florida-based Blue Compass RV, which operates in 33 U.S. states.”

For perspective (i.e. Where ‘misery loves company’ is concerned); the last time HUD-Code manufactured housing production eclipsed the 300,000 level – to which the RV industry is diving now, was in 1998, when we shipped 372,943+/- new homes. Today we ‘play around’ at just the 100,000 level, with 112,886 new homes shipped during 2022. It now appears we’ll be fortunate to eclipse 100,000 new homes shipped during year 2023.

REBIRTH OF THE FOCUS GROUP!

Did you know? There was a time a few years ago, when informal groups of land lease community owners/operators would come together to meet for a day, usually in the host owner’s community clubhouse, to work through a previously agreed upon agenda. And they’d convene ‘the night before’ at a nearby hotel for enthusiastic interpersonal networking, before settling down to work through common challenges and issues facing their businesses. Yes, all that happened over several years.  No details here, but I’ll likely build next week’s blog posting around that concept, as it appears to me the time has come for just that sort of intimate peer problem-solving.

QUOTING SENATOR KENNEDY FROM LOUISIANA

“Free advice friends. If the government tells you not to buy a gun, buy two!”

George Allen, CPM, MHM

Blog Posting # 753, Copyright 4 August 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC alone is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and my autobiography, From SmittyAlpha6 to MHMaven – describes combat adventures in Vietnam and a 40+ year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institutes (‘MHI’), RV/MH Hall of Fame enshrinee, retired lieutenant colonel of U.S. Marines, &d author/editor of 20 books re MH, communities, business & management wisdom, & prayer.

30^th ANNIVERSARY OF COMMUNITY UNITY?

What were you doing on 31 August 1993? Here’s what forward-looking owners/operators of land lease communities were doing. Quoting from SWAN SONG, a history of land lease communities, the unique income-producing investment property type: “…on 31 August 1993, 19 owners/operators of (then) mobile home parks, convened in Indianapolis, IN., for a strategic planning meeting where the goal was to decide how to work collectively, to represent and advocate for the real estate asset class – knowing a year or so later, several participants would take their companies public as real estate investment trusts (‘REITs’).” The initial organization, dubbed the Industry Steering Committee (‘ISC’), penned a mission statement, collected dues, and sought a national trade body (e.g. NAA, IREM & MHI) to adopt them.

The story of that momentous meeting and 18 months following, changed the course of manufactured housing-related real estate investments, and is well told in the book The First 20 Years, authored by the late Bruce Savage, one time executive with the Manufactured Housing Institute (‘MHI’). Copies are available for purchase via www.educatemhc.com

In retrospect, how did this historic meeting change the course of land lease community history? A couple obvious, and several subtle ways.

• 1 ½ years before the 31 August 1993 meeting, more than 100 community owners/operators, from across the U.S., convened for the very first time – in Clearwater, FL. Every year since then, they continue to gather at various national and regional networking and trade events. This was the impetus for the 8/31/1993 meeting, and continues to be key in creating and sustaining camaraderie among these entrepreneurial businessmen and women.

• 2 ½ years after the initial ISC meeting, on 1 January 1996, MHI launched the National Communities Council (‘NCC’), later named a full-fledged division of the institute. The first MHI executive to lead the NCC was Jim Ayotte, CAE; today, state executive of the Florida Manufactured Housing Association (‘FMHA’). This is when ISC became a part of MHI.

• While the ‘property type’ label changed from ‘mobile home park’ to manufactured home community, upon publication of J. Wiley & Sons’ Development, Marketing, & Operation of Manufactured Home Communities, in 1992, the continued evolution of that trade term took another decade or more, to become land lease community(ies).

• In 1987, the Roulac Real Estate Consulting Group identified only 25 portfolio owners/operators of ‘mobile home parks’ nationwide. By the time the ISC cum NCC was ‘up and running’, that number had swelled to 500+/- firms owning an average of 150 communities apiece. Why the huge jump? The formation of three new REITs (i.e. UMH Properties launched a decade earlier) popularized the property type, making for an eventual seller’s market. And it became common knowledge the operating expense ratios (‘OERs’) for these ‘communities’ were significantly lower than their conventional apartment counterparts.

• Some highly desirable ‘improvements’ to community operations have been proposed, even accepted and tried over the last three decades, but not all achieved sustained momentum. Examples. Professional property management. Of all the commercial real estate investment property types, land lease communities continue to be the least represented by Certified Property Manager (‘CPM’) members of the prestigious Institute of Real Estate Management (‘IREM’)…usually around 100 CPMs among 50,000+/- properties! And neither of the two homegrown PM certification programs, MHI’s Manufactured Housing Educational Institutes’ (‘MHEI’) Accredited Community Manager (‘ACM”), and GFA/PMN’s Manufactured Housing Manager (‘MHM’) certifications have added much (i.e. professional property managers) to the realty asset class.  And at one time it seemed highly desirable to replace the defunct (since 1976) Woodall Star System of quality raking communities. Hence the ABClassification System for Grading Communities. While still used by some, it was a victim of NCC politics, as REIT executives were concerned some of their holdings might be degraded by the new system. And there was also a detailed but high-priced program for recognizing and touting superior communities. But due to cost, it lasted only a short time.

So, where are we today? Depends on who you ask. Fervent supporters of the NCC (i.e. those who faithfully attend MHI’s biannual meetings at expensive venues) will tell you ‘all is well’ – and perhaps from their perspective that is true. However, knowing NCC meetings are rarely attended by more than a dozen or two dues-paying members, and there’s rarely public reporting of plans and actions, one might question the efficacy of the NCC division. Add to this the prohibition of proxy voting for officers at annual meetings – limiting access and amalgamation of new leadership. So yes, there is room for improvement going forward.

And since only five of the original 19 founders of the ISC are still active in land lease community ownership, it’d be interesting to know how they feel about present day community advocacy of the NCC. Speaking of the original founders of the ISC cum NCC division of MHI, they make for an interesting cross-section of owners/operators, large and small, of this unique type income-producing property typr. Following names are quoted, again, from The First 20 Years text authored by Bruce Savage.

Randy Rowe, formerly with MHC, Inc. cum ELS, Inc., a REIT; founder of Hometown America, then Green Courte Partners/American Landlease, and most recently Windward Communities. Randy continues to be active in the realty asset class, from his offices in CO and IL.

Gary McDaniel, founder of ROC Properties cum ROC Communities, Inc., a REIT; co-founder of YES! Communities (now under new ownership); also past chairman of MHI, and an RV/MH Hall of Fame enshrine. Now retired.  

Jim Grange. Similar corporate profile to business partner Gary McDaniel. To the best of my knowledge, also now retired.

Jeff Kellogg. Executive with  REIT Chateau Communities, Inc., until it was merged with ROC Communities, Inc. in 1997, later Hometown America in 2003.  To the best of my knowledge, Jeff is now retired.

Tom Horner, Jr., CPA, of T. Horner & Associates. Former professional football player, creator of the 21^st Century National Manufactured Home Landlease Community Rating System. Deceased.

Martin Newby of Martin Newby Management, now retired. Company still active as fee managers of land lease communities throughout the southeast. Martin brought a distinctly Christian perspective to his company, one that lives on to this day.

Dick Leiter. Formerly with Martin Newby Management. To the best of my knowledge, he’s no longer active in the realty asset class.

Kamal Shouhayib, Choice Properties (president of The Choice Group). While maybe semi-retired, his firm is now operated by his son Rob. Kamal is also a real estate developer in the U.S. and Lebanon.

Bill Williams of CWS Corporation in CA. While a major player during the 1990s, the firm was acquired by Chateau in 2001. To the best of my knowledge Bill is no longer active in the realty asset class.

Lynwood Wellhausen of Rudgate Communities. Lynwood is retired, and Rudgate was acquired years ago.

Bill Geary, CPM; president of Carlsberg Management. After his firm was acquired, he appeared to be no longer active in the real estate asset class.

Martin Lavin, esquire. A chattel capital financier, and head of AJAX Property Management. Now retired. Long an articulate commentator on manufactured housing matters in The Journal.

Eugene Landy, founder of United Mobile Homes cum UMH Properties, a REIT. Still active in the realty asset class, and recent inductee into the prestigious RV/MH Hall of Fame in Elkhart, IN.

Jerry Ellenberg of Ellenberg Capital. While active in the realty asset class at the time (8/31/1993), the firm was acquired and Jerry appears to have pursued other interests.

Scott West. Also with Ellenberg Capital at the time. No information on his current activities.

Brian Fannon, CPM. With Lautrec, Ltd., as well as founder of Strategic Operational Solutions, LLC. Most recently developing & filling a new Zeman MHC land lease community, The Oaks of Rockford, in Rockford, MI. Also an RV/MH Hall of Fame enshrinee.

Ed Zeman of Zeman Realty & Zeman MHC. Still very active in the realty asset class.

Ron Richardson of Ballerina Homes (Named after his first wife’s talent). Deceased.

George Allen, CPM®Emeritus, MHM®Master. Founder of GFA Management, Inc., & PMN Publishing. Also RV/MH Hall of Fame enshrinee, and Emeritus member of MHI. Now retired.

Well, there you have a brief history, not so exciting present status, and list of ISC founders from 30 years ago. The big question today, at least for some of us land lease community aficionados, is what will the future hold for this real estate asset class? Today we’re beset by threats of landlord/tenant legislation like we’ve never experienced before. Why? Mostly due to investors from outside the manufactured housing industry, buying up all sizes of communities – and property portfolios, then raise rental homesite rates, often in an exorbitant fashion. And here our nation is in the midst of an affordable housing crisis, but we’re generally unable to secure favorable home-only financing, as well as affordable housing land planning and zoning in most local housing markets! And the troublesome list goes on. Point? If we needed a national advocacy group for land lease community ownership and operations in 1993; we need one even more so today! What will the NCC division of MHI do to reinvigorate itself and take the lead in matters such as those just described?

Tell you what. Spencer Roane, MHM, of Pentagon Properties in GA., and I will be at the RV/MH Hall of Fame all day on 21 August, preparing to attend the Hall of Fame banquet that evening. If you’re ‘in the area’ and would like to sit down and discuss the present and near future of manufactured housing and land lease communities, let me know via gfa7156@aol.com. I’ll make arrangements for meeting location and timing. Hope you decide to participate. If interested in attending the banquet, get your tickets via (574) 293-2344. Even stay overnight and attend the 7^th National MH FacTOURy conference (How to Market & Sell New MHs in Land Lease Communities) on Tuesday and Wednesday. For more information phone the event hosts via (317) 247-6258.

George Allen, CPM, MHM

Blog Posting # 752, Copyright 28 July 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-based, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC alone is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.comn, to order

Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and my autobiography, From SmittyAlpha6 to MHMaven – describes combat adventures in Vietnam and a 40+ year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrine, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books re MH, communities, business & management wisdom, & prayer.

FALL MEETINGS OVERLOAD

Have you noticed yet? If you’re a manufactured housing aficionado and or land lease community owner/operator, and want to patronize industry and realty asset class meetings this fall, you’ll likely be over-networked and financially-strained during the two weeks between 10-13 September and 2-4 October. And that does not even include the Illinois Manufactured Housing Association’s annual meeting in East Peoria, IL. on 6 & 7 September – where you’ll find me.

Yes, the most significant meeting occurring during what’s known among meeting planners, as the ‘shoulder season’, is the 12^th annual SECO conference, A.K.A. National Conference of Community Owners. This occurs 10-13 September at the Renaissance Atlanta Waverly Hotel and Conference Center, in Atlanta, GA. And yes, I’ll be there too. Who doesn’t want to attend the major industry gathering where there’re be well-informed presenters on hand and a plethora of new HUD-Code homes to visit and purchase? For more information visit secoconference.com

Then there’s the ‘new kid on the block’; what’s advertised as ‘the inaugural edition of IMN’s Manufactured Housing Forum’, scheduled for 28 & 29 September at the Four Seasons Hotel in Nashville, TN. IMN spokesperson predicts 400 attendees this time around. Interestingly, IMN advertises no fewer than 49 speakers. On that list there’re executives from REITs UMH Properties and Sun Communities, as well as Yale Realty & Capital Advisors, and Cavco Industries. But know what? Among the 49 speakers, I recognized only six individuals who enjoy national reputations in our industry and among land lease community owners/operators. Want more information; contact Elizabeth Ramdeo of the Information Management Network (‘IMN’) in New York City via imn.org

Know why I won’t be in Nashville for the IMN soiree? Because I’ll likely be in Knoxville, TN., on 27 & 28 September at the Knoxville Convention Center, attending the annual Shed Builder Expo 2023. Huh? Yep these are the folk who design and build the sheds everyone uses from time to time. What’s my interest? Well, from their trade publication (magazine) and shows I’ve attended, I predict some form of sophisticated shed emerging as a new type of affordable housing! Seriously. As you know, I’m already researching and writing about ‘recreational vehicles as affordable housing’ (And, by the way, Thanks to those of you who sent me examples of this emerging RV trend!). Now you can’t say I didn’t alert you to yet another eventuality. Visit shedbulderexpo.com

Tired of meetings yet? Well there’s one more. The Manufactured Housing Institute’s (‘MHI’) annual business meeting will be 2-4 October, in Palm Springs, CA. I’ll miss this one too, as it’s a high-priced meeting location that, as a retiree, I can no longer afford. Also know this is when the National Communities Council (‘NCC’) division of MHI also meets. Only problem there (in that division) is they don’t accept proxy votes when voting for officers, severely limiting, in my opinion, leadership options in what should be a ‘mover & shaker’ advocate where land lease communities are concerned. Want to attend? Visit manufacturedhousing.org

More Achilles’ Heels!

Here’s what one blog flogger (i.e. ‘reader’) penned on this timely subject. “On the Achilles’ Heel discussion, I agree with all you said. I believe there are other ‘heels’ you didn’t mention that deserve discussion. Our D&R deliveries – that’s short for Drop & Go (Industry slang that’s been around for more than five decades!). D&R leaves critically important features up to the homeowner – who generally does not complete the tasks. Can’t tell you how many homes in communities or on private property have NO STEPS, or only temporary front ones. What site-built home doesn’t have safe steps at all exits? Or steps down into a basement, forcing the new homeowner to use a ladder to get there.” (Partly paraphrased. GFA)

National Rental Homesite Rent Rate

Last week we suggested national rental homesite rent rate among land lease communities pencils in around $572.00 (Based on YARI Matrix data for conventional apartments nationwide). Well, JLT studies peg this figure higher, @ $656, given a range of $624 for all-age properties and $717 for those catering to the 55+ demographic. Any guesses as to the reason ‘why’ for this difference? I’ll hazard the guess that the $624, $656, & $717 averages are for institutional grade land lease communities, while the $572 average is for properties across the board, size wise. What do you think?

WELL SAID (PENNED)

In a recent communique from the Manufactured Housing Association for Regulatory Reform, titled “MHARR Targets Fannie & Freddie Chattel Failure in DTS ‘Listening Session’ Comments”, dated 19 July 2023, the manufactured housing industry’s Washington ‘watchdog’ put forth  two paragraphs, here quoted verbatim (‘in exactly the same words’). In this industry observer’s opinion, they should be read by every industry aficionado and land lease community owner/operator!

“While chattel loans represent (and have consistently represented) nearly 80% of all new manufactured homes financed in the United States – and are specifically authorized by law for inclusion within manufactured housing sector DTS compliance programs – not a single manufactured home personal property loan has been supported by Fannie or Freddie under DTS since its enactment 15 years ago.” Chattel loans, personal property loans, chattel capital loans and home only loans are synonymous manufactured housing lending trade terms.

“As MHARR made clear in its comments, this impasse, which leaves the vast bulk of the manufactured home financing market completely unserved in violation of the DTS mandate, is unacceptable and cannot continue. That is especially the case with the manufactured housing market having entered a severe downturn, beginning with the third quarter of 2022, which has seen the production of new HUD-Code homes plummet year-over-year by a factor of more than 30%.”

In my opinion, the GSEs (government-sponsored enterprises Fannie Mae & Freddie Mac) have been ‘burned badly’ during previous manufactured housing industry downturns. The last one occurred at the turn of this century, when our poor chattel lending practices forced annual MH production to plunge from 392,943 new HUD-Code homes in 1998, to 250,500 two years later, and on down to 48,789 by year 2009. At year end 2022 we were finally back over 100,000 units with 112,886 shipped. However, today GSE’s career executives simply will not risk their livelihoods endorsing what they evidently view as a flier (‘risky or speculative venture’) in behalf of our industry! There’s really no other way to view this sad state of bureaucratic malaise and inaction.

So, what’s to be done? Ideas, suggestions and more are welcome via gfa7156@aol.com

George Allen, CPM®Emeritus, MHM®Master, MHI Emeritus member, & RV/MH Hall of Fame enshrinee.

Blog Posting # 751, Copyright 21 July 2023. EducateMHC

Parallel Perspectives. HUD-Code manufactured housing is federally-regulated, performance-gassed, affordable factory-built housing! And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the investment real estate component of manufactured housing! EducateMHC alone is the online advocate, historian, trend tracker, and text resource for these two business models! To input this blog or connect with EducateMHC, telephone (317) 881-3815, email: gfa7156@aol.com, or visit www.educatemhc.com, to order Community Management in the Manufactured Housing Industry. This is the sole professional community management text in print today! And SWAN SONG is a history of land lease communities and official record of annual MH production totals since 1955; and my autobiography, from SmittyAlpha6 to MHMaven – describes combat adventures in Vietnam and 40+ year business career in MH and community ownership/management.

George Allen, CPM®Emeritus, MHM®Master, Emeritus member of the Manufactured Housing Institute (‘MHI’), RV/MH Hall of Fame enshrinee, retired lieutenant colonel of U.S. Marines, and author/editor of 20 books about MH, communities, business & management wisdom, and prayer.

RVs as Affordable Housing

I’m asking for some help here. For the past year or so I’ve been researching and preparing an academic article on the subject of ‘RVs as Affordable Housing’. It’s been a fascinating, but at times frustrating, journey. While it’s well-known there’s more than a million ‘fulltime RVers’ in the U.S. today, there’s absolutely no handle, so to speak, on the number of RVs being used as fulltime housing. And that’s where you might come in – as a source of information for me. If you have any experience whatsoever with folk living fulltime in one or another type of RV – as their residence, please write or call and let me know what you can tell me. See introductory paragraph, above, for contact information. And Thanks for helping.

A few more scattered thoughts on this subject. Early in the article I’ll be defining ‘affordability’ in terms of the commonly-accepted 30 percent Housing Expense Factor (‘HEF’); i.e. ‘Housing is affordable when an individual or household’s Annual Gross Income (‘AGE’), or local housing market’s Area Median Income (AMI’) – identified by postal zip code & available online via zipwho.com, can lease a conventional apartment and or buy a home (or RV) in this local housing market, using no more than 30 percent of said AGI or AMI for shelter & its’ related household (utility) expenses.’ E.g. $50,000 AGI/AMI X .3 HEF = $15,000 or $1,250/month available for rent or mortgage and PITI (principal, interest, taxes, insurance) and household expenses. That’s ‘affordability’ defined.

I also realize RVs are not built to any of the housing codes (including HUD-Code), since they are intended to be temporary shelter as one travels, vacations, and otherwise. It’s the ‘otherwise’ I’m attempting to build this affordable housing case upon. How so? Well, for decades I’ve experienced itinerant construction workers living in RVs on rental homesites within land lease communities; same with homeowners/site lessees who own and live in a manufactured home in northern climates during spring, summer and fall, but relocate to their parked RV ‘down south’ along the Rio Grande in Texas, throughout Florida, and other Sunbelt regions. Can you provide additional examples of real or quasi-residency in recreational vehicles? Sure would appreciate your input!

Manufactured Housing’s Achilles’ Heels!

Do you know the story of Achilles’ Heel? In Greek mythology, Achilles’ mother Thetis, to make her newborn son immortal, submerged him while holding him by one heel. Later in life, Achilles was killed by Paris’ arrow striking that unprotected part of Achilles’ body. Since then, the weak point of a person or object is referred to as its’ Achilles’ Heel. For example; with nuclear power, the Achilles’ Heel is the difficulty in getting rid of radioactive waste.

With that said; as I perused Harvard Joint Center for Housing Studies’ (‘HJCHS’) recent study:

‘Comparing the Costs of manufactured and Site-Built Housing’, I came across a street view (labeled as Figure 1) of a CrossMod Home, with this comment: “…currently only comprising a small percentage of total manufactured homes sold annually….” And, once again, asked myself ‘Why is this so?’

Went back and looked at the photo closely. Know what? There are no gutters and downspouts shown on this particular CrossMod Home. This is important because the study goes on to state: “CrossMod’s enhanced appeal is a function of a set of specific design standards intended to make the homes less distinguishable from site-built homes.” Well there it is! CrossMod’s Achilles’ Heel! No gutters and downspouts! When was the last time you saw a brand new, ready-to-move-into site-built home without gutters and downspouts? Never. YES, this is indeed a small, a minor point – and not ‘the first time around’.

What do I mean by that? Ever since there’s been conventional stick-built housing on scattered building sites conveyed fee simple and in subdivisions, there’ve been private contractors advertising ‘roofing, siding, and gutter’ services. Early on, ‘mobile homes’ needed none of those services, as they featured metal roofing, metal siding, and no gutters – or in a word, three Achilles’ Heels! Well, we first replaced metal with aesthetic appealing siding material and addressed the first Achilles’ Heel. Then we replaced metal roofing with shingles, addressing the second Achilles’ Heel. And now we should consider how much better HUD-Code manufactured housing would/will look with gutters and downspouts. That is to say, do away with the third and final Achilles’ Heel of manufactured housing. What do you think?

Think I exaggerate? Here’s yet another example of an Achilles’Heel holding our industry/realty asset class back from widespread social and consumer acceptance. Consider the perennial image-challenges our industry faces where land lease communities are concerned. There are some (maybe many?) fine communities throughout the U.S., but the ones who routinely tarnish our rep are those with visible indicators of marginal to poor property management! Seriously. Capable, experienced, professional property managers make all the difference as to whether a land lease community, in the local housing market, is a patent eyesore or promotes a desirable lifestyle. Professional property management has been and continues to be, in my opinion, the veritable Achilles’ Heel of this unique type investment real estate. Consider this: no other form of commercial real estate has fewer trained and certified property managers at work on-site than among land lease communities nationwide! A first step in the right direction? Purchase a copy of ‘Community Management in the Manufactured Housing Industry’ (via www.educatemhc.com) and commit to implement professional property management at your property or properties! 

So, it’s ‘gutters & downspouts’ for manufactured homes and ‘professional property management’ for land lease communities! It’s time to rid ourselves of all Achilles’ Heels!

ESG Distorts Markets & Drives Up Costs of Insurance & Housing

In a recent MHI newsletter they described Bill Boor’s ((MHI Vice Chairman & Pres/CEO of Cavco Industries) recent testimony before a Housing & Insurance Subcommittee, titled ‘How Mandates Like ESG Distort Markets & Drive Up Costs for Insurance & Housing’.

What’s ESG? A politically popular effort to stimulate investment in corporations embracing Environmental, Social, and corporate Governance policies and measures, ostensibly addressing the good of society at large. While ESG has been around since 2004, it only recently has become accused of ‘greenwashing’, i.e. green marketing deceptively used to promote products as being environmentally friendly.

In any event, Bill Boor criticized the Department of energy’s (‘DOE’) Energy Conservation Standards for Manufactured Housing “…as an example of a federal agency implement an environmental policy without fully understanding the broader consequences.” Specifically, DOE fumbled its’ effort to address ‘E’ (environmental) at the cost of ‘S’ or social consequences; i.e. higher cost of new HUD-Code manufactured homes.

RV/MH Hall of Fame Draws Nigh…

Where will you be the evening of Monday, 21 August 2023? Hopefully with many of your manufactured housing industry peers at the annual RV/MH Hall of Fame Induction Banquet in Elkhart, IN. I certainly plan to attend, along with a dozen other close friends – so far. Give the matter some thought, then join us for the festivities. For tickets, phone (574) 293-2344.

If you have time to spare – and need firsthand training on marketing and selling new HUD-Code homes on-site in land lease communities, plan to stay over on the 22^nd & 23^rd, to attend IMHA/RVIC’s annual MH FacTOURy tours and seminars at the RV/MH Hall of Fame. For more info, phone (317) 247-6258.

Some of us make it a point to arrive a day early, on Sunday the 20^th, to do some topnotch networking at the Hilton Garden Inn, along the interstate north of Elkhart. Phone (574) 970-4444 for reservations. Then, the next morning, travel the short distance to the Hall of Fame facility to tour the still new Manufactured Housing Exhibit Hall. Well worth the visit. And then, some of us will adjourn to the library upstairs to meet and discuss a variety of topics. This year, I’m bringing a supply of the recently updated booklet, Who Will Preserve Your Legacy? Answer: You! We just completed a mass mailing to dozens of executives around the U.S. who have compelling stories to tell – personally and corporately. Feel free to join us – but let me know ahead of time of your interest, so I’ll have enough copies of the booklet to hand out.

So, do you get the idea, this is where to be on the 20^th– 23^rd of August 2023? It surely is. Hope to see you there!

Estimated National Rental Homesite Rate?

According to the July/August 2023 issue of ‘Multifamily Executive’ magazine, quoting Yardi Matrix, $1,716 is the average U.S. conventional apartment asking rent rate. Applying the widely-referenced 3:1 Rule, 1/3^rd of $1,716 is approximately $572.00. So ‘maybe’ the estimated national rental homesite rate within investment grade land lease communities is close to $572.

George Allen, CPM, MHM