Resident Owned Communities USA (ROC USA) tells MHProNews that their latest study shows that rents in their communities remain equal to or below market rate after five years.
Every five years, ROC USA hires an independent third-party appraiser to analyze monthly rents in ROCs and compare them to similar commercially owned communities nearby. Affordable monthly rent is one of the primary motivations of ROC members to pursue a purchase.
“The size of the study nearly doubled and the results are the same: Rents in ROCs continue to be at or below market by as much as 17% after five years of ownership,” said ROC USA President Paul Bradley.
The study also discovered that ROCs have an average annual rent increase of slightly less than one percent. This compares favorably to the 2.5 percent annual increase experienced by one of the subject communities before they bought it and became a ROC.
The full ROC USA report is linked here.
For more on ROC USA, including their work with NYS Homes and Community Renewal on a $3.4 million loan, click here. ##
(Image credits are as shown above.)
Submitted by RC Williams to the Daily Business News for MHProNews.
