A private equity firm that owns mobile home parks in Ontario is facing allegations from homeowners and Realtors for employing questionable and potentially illegal strategies to hike lot rents to unaffordable levels. This has made it challenging for many individuals to sell their previously affordable homes.
Monique Mitts, a resident of Trenton, criticized SunPark Communities for its handling of the sale of her late mother’s mobile home in Quinte West. Mitts claimed that SunPark Communities, a division of Toronto-based Firm Capital Properties, attempted to obstruct the sale process by not allowing the transfer of tenancy to a potential buyer, ultimately leading to difficulties in finalizing the sale.
Several individuals in SunPark communities in Ontario have reported similar experiences, with claims of the company obstructing lease transfers to raise land leases. Realtors and residents have voiced concerns over SunPark’s practices, describing instances where the company has impeded sales transactions in an effort to increase land rents.
The situation has also impacted homeowners like Sarah Battersby in McGregor, who faced challenges selling her modular home due to rising lot rents. The reluctance of SunPark to facilitate lease transfers has left residents feeling trapped, with some resorting to financial hardship or surrendering their homes due to the inability to sell.
Realtors and legal experts have highlighted the need for legal action against such practices, emphasizing the importance of protecting tenants’ rights and ensuring fair treatment in home sales. The involvement of private equity firms in mobile home ownership has raised concerns about the exploitation of residents for financial gain, indicating a broader issue in the housing market that requires regulatory attention.