Bill > S3913

This bill aims to provide enhanced protections and opportunities for residents of manufactured home parks (also called private residential leasehold communities) when their community is being sold. The bill expands and clarifies the rights of resident homeowners by modifying several key provisions. Specifically, it increases the notification requirements for landowners when selling a manufactured home park, extending the timeframe for residents to organize and potentially purchase their community from 30 to 120 days. The bill requires landowners to notify multiple entities, including the Department of Community Affairs, municipal officials, and each resident homeowner, when considering a sale. It also establishes that resident homeowners can form a resident homeowner group to negotiate the purchase, with only 51% of residents (instead of two-thirds) needing to consent to a purchase. The bill introduces new confidentiality provisions to protect sensitive information during negotiations, allows resident homeowner groups to assign their purchase rights to municipalities, housing authorities, or nonprofits, and creates legal mechanisms to enforce these protections, including potential court actions and penalties for landowners who do not comply with the law. The overall goal is to give manufactured home park residents more control and opportunity to maintain their housing communities when ownership changes are being considered.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2024/S3913