Common Questions about Manufactured Home Communities

Country Lakes Villages, Palmetto, Florida - a 55+ resident owned, manufactured home community

In Florida, Newby Realty is affiliated with over 30 manufactured home communities. The communities are categorized in the following way: “55+” land lease, land owned or resident owned or “all age” (family) land lease.

The most common question asked is, “What is the difference between land lease and a land owned manufactured home community?” Land lease is when you buy the home but rent the land it is on. Each month there is a lot rent (also known as a lot lease) fee. Water, sewer, basic cable, lawn care, trash pick up, AND maintenance of the community are options this fee may include, depending on the community. Each community has their own list of inclusions.

The next common question is, “What is the difference between a resident owned community and a land owned community?” This gets a little more into the nitty-gritty of the explanations. In a land owned community, you own the land and usually have a deed for the land. You only pay a monthly maintenance fee because you are not leasing land in this community. (Inclusions of what this fee includes vary between each community.)

In a resident owned community, one may own a share of the community. This means you own part of the community; part of the business. This type of community gives one an option to own a share or not. Typically, when one owns a share, they do not pay a lot lease but they do pay a monthly maintenance fee.

Here is where it gets a bit sticky: If you do not own a share, then most commonly, you are leasing the land your home is on in a resident owned manufactured home community. The monthly fee is higher than if you owned a share. This is because you are paying maintenance fees AND a lot lease fee. When one buys a home in a resident owned manufactured home community, the option is there to buy a share at the time of purchase of a home OR anytime afterwards. The value of a share varies but in our communities, it’s most commonly in the range of $55,000. This is like buying land in that there is a property tax on it.

In our Newby Realty listings, our home prices will indicate if the price of a home in a resident owned community INCLUDES a share or not. If a home is priced WITH the share, one must understand this is how it must be purchased: the home WITH the share. IF a home is priced not including a share, one MAY purchase the share separately, at any time after the purchase of the home.

Another popular question: "What is the age differences between an all age (family) manufactured home community and a 55+ community?"  In a 55+ community, one person living in the home must be age 55 or older. Typically, the other persons living in the home cannot be younger than 45.  In a family community, all ages are allowed to live in the home.

Note:  Many use the terms "mobile home" and manufactured home" interchangeably.

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Newby Realty provides sales of new and used manufactured (mobile) homes throughout Florida in Bradenton, Clearwater, Debary, Edgewater, Ellenton, Englewood, Fort Pierce, Hudson, Lakeland, N. Fort Myers, New Smyrna Beach, Ocala, Orange City, Palmetto, Port Charlotte, Port Richey, Sarasota, Winter Springs, Zephyrhills.