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CLINTON, Tenn. (WATE) — Yet another mom-and-pop mobile home park has been purchased by corporate owners who immediately raised the rent. For many of the residents, their monthly rent will more than double, taking a big chunk out of their fixed incomes.
What’s happening across Tennessee, and in other states, is that corporations and private equity firms are buying “mom-and-pop” mobile home parks. Renters affected by the recent ownership change in Anderson County are worried.
Nearly 30 families live in the newly named Smoky Palms North mobile home park in Clinton. The former long-time owner of the park sold the property less than a month...
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“I’ve been here 22-23 years. It started out at $175. All those years it went to $275, and these people buy [the park], and now it is outrageous,” said Larry Wolfe.
OK, I know the U.S. population is math challenged, but a rent doubling over 23 years amounts to about the rate of inflation over that period. I’m sorry that the mom-and-pop owners failed to keep their rents up with inflation, but that’s just a fact. There’s no reason for the new owner to keep the rent at the 2003 level going forward, and the increase appears in-line with market rents.
I also love how all of these woke articles focus strictly on gaslighting that mobile home park lot rents “double” and “percentage increase” because they know if they actually say the amount – a few hundred dollars – the reader would say “that’s less than my insurance or gas just went up, so who cares?’.
Finally, whoever wrote this article – clearly gunning for rent control in Tennessee – must not be bright enough to realize that rent control only happens when a state is trifecta blue and Tennessee is, in fact, trifecta red. Ouch.