NBC News investigates conditions in PE-owned manufactured housing

A recent NBC News investigation examines the experiences of residents living in manufactured housing communities owned by private equity and other corporate landlords. 

Over the past 20 years, manufactured home communities increasingly have gone from “mom and pop” enterprises to ownership by private equity firms, hedge funds, and large, multi-state corporations that seek to capitalize on manufactured-home owners’ unique situation. PESP has been tracking the corporate incursion into manufactured housing for years.

Across the country, residents living in corporate-owned communities have reported extreme rent hikes, deferred maintenance, junk fees, and serious water issues. One resident who lives at a park owned by Alden Global Capital’s Homes of America told NBC News she and her partner had dealt with black mold, pest issues, sewage issues, and threats of eviction. Other residents featured in the story spoke of tense, sometimes “toxic” relationships with park management following a corporate takeover. 

According to NBC, a lawsuit filed by a former employee of Homes of America alleges the company instructed him to conceal mold in housing, and targeted homebuyers with low incomes to offload shabby units instead of rehabilitating them. 

For more on private equity’s impacts on manufactured housing, check out PESP’s Manufactured Housing Tracker.