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Beneath the surface of Oregon's affordable housing crisis lurks a predatory practice that's stripping equity from manufactured and floating home owners across the state. While most homeowners understand the concept of rent increases, few grasp the devastating impact of "rent reset" until they try to sell their homes.
When Bill Bateman sits down with Angela Garvin, past President Emeritus and head of OSTA's Floating Homes Division, they uncover the mathematical reality behind a practice that allows landlords to raise rents by unlimited amounts whenever a home sells. Through clear examples using real-world numbers, they demonstrate how a 20% rent reset can force homeowners to slash their asking prices by $40,500 – effectively transferring 27% of a home's value directly to the landlord.
The conversation moves beyond theory into disturbing territory when they explore what happens to residents who can't sell their homes due to these inflated rents. Unable to pay, facing eviction, many homeowners lose their largest assets entirely through a legal framework that ultimately benefits park owners at residents' expense.
As House Bill 3054 moves through the Oregon legislature with provisions addressing rent reset appearing and disappearing, Bateman and Garvin make a compelling case for immediate action. They highlight how residents are finding strength through tenant associations, transforming individual complaints into collective power that can effectively negotiate with even the largest corporate owners.
Whether you're a park resident, policymaker, or concerned citizen, this eye-opening examination of housing injustice will transform how you understand affordable housing. Don't miss this crucial conversation that exposes one of the most significant wealth transfers happening in Oregon communities today. Reach out to your legislators and join the movement for housing justice before more residents lose their homes and their equity.
Three PDF's for more details:
One: https://docs.google.com/document/d/10quDxpNjZZxKiD3Sa6xirhQgj0PebV5z29Y24gjNLDs/edit?usp=sharing
Two:
https://docs.google.com/document/d/1Z5UYdJonmAIbVeUH-ddWiZYVOyWu2QvVFZmVrAFQ1Yw/edit?usp=sharing
Three:
https://docs.google.com/document/d/1vsJyxDcyVk1ofBDjebf4RXZt-F8jUv8yL_kJMskD5hk/edit?usp=sharing
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