S
enator Maggie Hassan, the top Democrat on the Joint Economic Committee, has opened a new investigation into investment firms that own large stakes in mobile‑home parks. On Monday she sent formal letters to six major operators—Alden Global Capital (Homes of America), BoaVida Group, Legacy Communities, Patriot Holdings, Philips International, and Sun Communities—requesting internal documents that show how their business practices affect residents and the profits they earn. The letters ask for lease agreements, rent schedules, fee structures, eviction records, maintenance histories, resident complaints, lawsuit settlements, ownership stakes, and financing details. Firms must respond by January 5; none has yet replied.
About 22 million Americans live in mobile‑home communities, many of whom are seniors, low‑income families, or people with disabilities. Unlike traditional renters, most owners own their homes but lease the land. A sharp rent increase can force them to relocate entire homes—a costly and risky move. Hassan stresses that as investment firms acquire more parks, they must uphold fair rent, safe living conditions, and protection from mistreatment.
The letters cite a 2021 surge in manufactured‑housing purchases by investment firms, totaling nearly $10 billion. Over the past two years, private‑equity owners accounted for roughly a quarter of all park acquisitions. While mobile‑home communities offer cheaper housing than apartments or single‑family homes, the rise in rents and fees under corporate ownership threatens to worsen the affordability crisis for U.S. homeowners.
Jim Baker, executive director of the Private Equity Stakeholder Project, welcomed the investigation. “Residents nationwide report rent increases of up to 100 %, excessive junk fees, poorly maintained water systems, and aggressive evictions,” he said. “We see wealthy investors squeezing every last cent from some of the most vulnerable communities in the name of profit.”
Hassan told NBC News that “the thousands of Granite Staters and millions of Americans who live in mobile‑home parks deserve fair rent, safe living conditions, and the ability to protect themselves from mistreatment.” She added that the investigation will examine how investment firms’ practices impact residents and the profits they accrue.
The inquiry, launched by the Joint Economic Committee, aims to expose the growing influence of private‑equity owners in the mobile‑home sector and to ensure that residents are not left behind as profits rise. The outcome could prompt tighter oversight of lease terms, rent increases, and maintenance obligations for the millions who depend on these communities for affordable housing.
