AFTER BATTLING RENT HIKES FOR YEARS, CARSON MOBILE HOME RESIDENTS FEAR THEY’LL BE FORCED TO BUY OR MOVE OUT
.By Gene Maddaus Staff Writer
Although long, this is a terrific article about the condo-conversion taking place at Colony Cove in Carson. Unfortunately we don’t have space to present the full article here (anyone wanting a copy please contact CoMO-CAL). Some key points are as follows:
- Park owners have found a technique to break rent control, namely condo conversions.
- Lawsuits between cities and park owners over rent control have been costly to both
- Lawsuits have been hard on park residents, causing stress, fear, etc.
- Condo conversion is a scheme by park owners to “harvest land value.”
- A condo conversion allows park owners to get their money out of the park – the land is far more valuable if vacant than if it was a mobile home park
- The state provides rent protections in condo conversions only for the lowest income group. Others who decide not to purchase will see rent increases to “market rent.”
- About 30 condo conversions are now under way (I assume in the state of California).
- The first condo conversion by park owner Goldstein freed up enough capital to allow him to purchase Colony Cove Estates (which is now in the condo conversion process) – it’s snowballing!
- The City of Carson will lobby Sacramento for a change in the conversion law to require greater resident support or better protection.
- Park owner groups will fight anything that gives their clients less control over their investments
COUNTY BACKS CHANGE IN RENT-CONTROL LAW