Excludes resident-owned manufactured home communities from certain rent increase provisions.

This bill amends the real property law to exclude certain resident-owned manufactured home communities from provisions limiting rent increases. It defines a "resident-owned manufactured home community" as a home park where the real property is owned by a cooperative or other entity in which homeowners have governance rights. The bill specifies that these communities are exempt if they are owned and governed by resident-members and are subject to affordability restrictions. This act takes effect immediately.

Excludes resident-owned manufactured home communities from certain rent increase provisions.

This bill amends the real property law to exclude certain resident-owned manufactured home communities from provisions limiting rent increases. It defines a "resident-owned manufactured home community" as a home park where the real property is owned by a cooperative or other entity in which homeowners have governance rights. The bill specifies that these communities are exempt if they are owned and governed by resident-members and are subject to affordability restrictions. This act takes effect immediately.