Click on the questions below to to learn the answers to some of our more frequently asked questions:
A resident-owned community is one that is owned equally among all member households. Each member household has one share of membership and one vote in the business matters of Meadow Lane Park, Inc., a New York State registered Not-For-Profit Corporation. As a member, we own the land and manage the business of the Community.
While the property itself is owned collectively by the membership, the individual member households continue to own their own homes.
There are many benefits to living in a Resident-Owned Community, including control of yearly lot rent, repairs and improvements, lifetime security against unfair eviction, and a strong sense of community. Everyone has a say in the way the park is run, and all major decisions are made by democratic vote.
In a resident-owned community, the member households are able to influence the cost and rules of the community by electing a Board of Directors to oversee day-to-day business operations. In addition to this democratic system, residents are able to volunteer on committees and projects that directly affect the operation of the community. Members are able to get involved with things such as planning and executing social activities, creating and revising community rules, record-keeping and reporting, park maintenance, and many other facets.
In a commercially-owned community, even though residents own their homes, the park owner controls the lot rent and the park rules. He or she also has control over the condition of the community – including roads, water, electric, waste-water systems and landscaping. Each time the community is sold to a new owner, the rent is at the discretion of the new owner.
In a commercially-owned community, the theory is that if you don’t like how the park is being managed, you can move your home. But “mobile” homes these days are not very mobile. Many homes could not withstand the move. Affordable lots are hard to find. If you live in a park without protection from skyrocketing rent or even park closure, you could be at risk to lose your home.
In A Resident-Owned Community, if you don’t like how the park is being managed, you can run for a position on the Board of Directors and make improvements from inside the organization.
After purchasing your home, each member household pays an Annual Assessment Fee, billed quarterly. The assessment varies throughout the park, largely dependent on location and size.
If you are a member and decide to rent a dock slip in the marina, there is an annual flat fee of $300.00 no matter the size of your boat.
It’s important to note that the member households vote on all budget-related decisions, including the annual assessments.
The process to buying a home in our park is similar to buying a home anywhere else, with a few caveats. The process largely looks like this:
- Get in contact with a resident who is selling their home, and negotiate a price and terms just as you ordinarily would.
- When you’ve reached an agreement, complete and submit a Membership Application to the Board of Directors. Wait for approval before proceeding further, as the Board of Directors must approve all new members.
- If approved by the Board, you will be notified whether you must buy into the Park as a member, or your one-time membership fee has been paid by the previous owner. If you must buy in (because the former owner hasn’t), you’ll need to pay the one-time membership fee of $6,100.00 to Meadowlane Park, Inc.
- Complete the financial transaction with the owner.
- Execute an Occupancy Agreement.
- Provide a copy of the bill of sale to Meadow Lane Park
- Provide a copy of insurance coverage, as specified in the new member packet to Meadow Lane Park
- Move in and enjoy your new home in our resident-owned community!
We know that might be a lot to process, so we make available a Sale Coordinator who is able to provide you with all of the documents you need, and answer any process-related questions you may have along the way.
The member households elect a Board of Directors who in turn elect the Officers of the Corporation that oversee and manage the day-to-day operations. The BOD also employs a working Maintenance Manager who aides in the operation of the park, performing much of the maintenance and upkeep of the common areas, equipment and buildings, and other duties as assigned.
If you decide to sell your home, your one-time Membership Fee is sold to the new owner – it is your responsibility to include that cost in your list price. The buyer of your home must become a Member of Meadow Lane Park, Inc. You are able to list your home for sale on our website, or with any realtor of your choosing. The Sale Coordinator will assist you in the process in any way that they can.
The member households elect a Board of Directors at the annual business meeting in July of each year. Directors are elected to serve a two-year term. If additional seats need to be filled, the Board can appoint them. The Board of Directors is always looking for volunteers – there’s always a place for those who want to pitch in!
Residents have a variety of carriers to choose from in the area. We have a reference list available.