Resident Owned Mobile Homes
Resident Owned Mobile & Manufactured Homes In Florida Explained
Resident owned mobile homes and manufactured homes or mobile home co-op share is ownership interest in the entire manufactured home community. You do not own the land that your manufactured home is sitting on (known as fee simple, in traditional real estate). Instead your ownership is comparable to being a stockholder owning interest in the entire community. The monthly fees are generally half of the lot rent fees paid on a land lease basis for those homes without a share.
Cooperative properties are listed on the Multiple Listing Service or MLS along side conventional real estate. When purchasing or selling a mobile home that is part of a co-op you are able to gain massive exposure in both selling your manufactured home or searching to buy your next mobile home.
You pay real estate taxes just as you do on real property. Because the purchase price is relatively low, your taxes are not that high. If you are, or will be a Florida resident, you can homestead the property resulting in significantly lower real estate taxes. Other qualifying reductions in real estate taxes include disability and more.
Our agent and Realtor® Bob Grimes is an expert in co-op properties and can assist you in either selling or buying.