Private Equity JACKS Up Trailer Park Rents Hurting Millions |Breaking Points with Krystal and Saagar

Krystal and Saagar cover the massive increase in trailer park rents being caused by private equity entering the mobile home market leading to major issues for longtime homeowners

 

 

As a 30 year old still renting, these housing segments are always so demoralizing. I appreciate the honest reporting, don’t get me wrong. It’s just seeing the veil pulled back on all the lies I was told growing up. I always thought I’d have a house by now. I thought I’d have kids and a family of my own. These ghouls have made it unaffordable. They stole that from this and future generations and the government just stood by and let it happen. Helping, even, in some cases.

 

The first mobile home I sold as a realtor was the beginning of the year, since then, the cost of the land lease at that park has increased by about 200-300 per month. It’s not sustainable. These are our seniors, it makes me sick. This country is being ran by very indifferent, and sick individuals.
This happened to a friend of mine. She is very low income and the mobile homes in her park are literally glorified shacks. A big company bought the park and doubled the rent. Residents are moving in with each other just to make ends meet. It is criminal that big companies are gouging poverty stricken people.
I am not surprised at all. I personally know people who are experiencing this. Private equity is deadset on ensuring that no one other than them is able to own their own homes or land. If they are not already, they will be targeting RV parks next. Absolutely nowhere is safe from what can only be described as the cancerous growth that is private equity.
Rents are getting crazy. Moreover they’re now actually charging renters for things that previously were always just things the landlord just did. My friend showed me his lease, if lightbulbs in hallways go they charge $40 to replace them, if you need your toilet snaked it’s $30, and so on. I swore that those things we’re the landlord’s responsibility anyway, and in some cases they are. What they do is charge for them and if someone wants to fight it to the point that they’re willing to go to court, they might win but when the lease is up at the end of the year the “properly management” entities (ie these investment companies) will either jack up the rent or just decide not to renew it and the renter has to leave. It’s disgusting and i believe may be the proverbial Straw that breaks the camel’s back. This is unsustainable. I have two different friends that are currently living in tents. Both have jobs, they’re don’t have mental health or substance abuse issues or any other of the usual reasons that are behind being homeless; they just flat out can’t afford to rent anything that’s available. The reason that this has been on mind is because unless SOMETHING changes in my own situation, there’s a high likelihood that come this October I’ll be setting up camp right next to them.
I felt this recently. Two years ago I was priced out of a home. Then last year I started looking at a mobile or manufactured home, because it’s time I own something. Well I got priced out again and people are outbidding each other on piece of crap mobile homes going over +200k.
You can’t have the American dream. But you can rent it… For a little while.
so many of my clients are in this position. Lot rents 700-1200 just for space with extremely high criteria to meet in order to qualify. It’s so unfair for a specific portion of the population that struggles to get by