§ 31-44.1-2 Rent increases for mobile andmanufactured home lots. – (a) Any person who owns, operates, or maintains a mobile and manufactured homepark pursuant to the provisions of chapter 44 of this title shall give themobile home owners of the park sixty (60) days written notice prior to any lotrent increase going into effect. The written notice shall set forth the currentrent, the proposed rent, and the date upon which the increase shall take effect.
(b) If a majority of the mobile home owners of the parkbelieve that the rent increase is " excessive" as defined in this section, theymay request in writing from the American Arbitration Association that bindingarbitration take place between the park owner or operator and the mobile homeowners. The association will authenticate on a confidential basis the requestand the signatures of a majority of the park mobile home owners, who shall bemade aware of the costs involved in seeking binding arbitration under thissection. For purposes of determining a majority under this section, there shallbe one vote per mobile home unit. The names of the mobile homer ownersrequesting the binding arbitration shall not be disclosed by the AmericanArbitration Association to the park owner or operator. Upon authentication thata majority of the owners are requesting mediation, the commission shall appointan impartial and qualified arbitrator, to arbitrate the dispute. The park owneror operator and the mobile home owners will cooperate with the arbitrator in aneffort to resolve their differences. The costs and expenses of the arbitratorshall be borne equally by the park owner or operator and the mobile home owners.
(c) An "excessive" rent increase for purposes of this sectionis an increase which is unreasonable based on the park owner's or operator'stotal expenses, including debt service and a reasonable return on the parkowner's investment or equity in the park, provided, that the debt service isdirectly related to acquisition of the mobile home park. Debt service used toor otherwise employed for purposes other than that which is directly related tothe acquisition or capital management of the mobile home park shall beexcluded. Further, the arbitrator shall perform an analysis as to the mobilehome park owner's need for rent increase and services provided to the park.This analysis shall be performed for a period of not less than three (3) yearsprior to the application for rental increase. Specifically excluded in any suchanalysis shall be any debt service incurred using the mobile home park ascollateral or other security for investment, enterprises, businesses or similarventures separate and apart from the mobile home park.
(d) The arbitrator will promptly hear the dispute and rendera decision based on the " excessive" rent increase standard as defined in thissection. For purposes of determining a reasonable return on the park owner'sinvestment or equity, the arbitrator shall perform a risk analysis and consideralternative and comparative investments. The costs of the arbitration shall beborne by the losing party in the arbitration.
(e) No lot rent increase shall go into effect until theearlier of:
(i) Completion of the binding arbitration process, or
(ii) One hundred twenty (120) days after the written noticegiven under subsection (a) of this section.
§ 31-44.1-2 Rent increases for mobile andmanufactured home lots. – (a) Any person who owns, operates, or maintains a mobile and manufactured homepark pursuant to the provisions of chapter 44 of this title shall give themobile home owners of the park sixty (60) days written notice prior to any lotrent increase going into effect. The written notice shall set forth the currentrent, the proposed rent, and the date upon which the increase shall take effect.
(b) If a majority of the mobile home owners of the parkbelieve that the rent increase is " excessive" as defined in this section, theymay request in writing from the American Arbitration Association that bindingarbitration take place between the park owner or operator and the mobile homeowners. The association will authenticate on a confidential basis the requestand the signatures of a majority of the park mobile home owners, who shall bemade aware of the costs involved in seeking binding arbitration under thissection. For purposes of determining a majority under this section, there shallbe one vote per mobile home unit. The names of the mobile homer ownersrequesting the binding arbitration shall not be disclosed by the AmericanArbitration Association to the park owner or operator. Upon authentication thata majority of the owners are requesting mediation, the commission shall appointan impartial and qualified arbitrator, to arbitrate the dispute. The park owneror operator and the mobile home owners will cooperate with the arbitrator in aneffort to resolve their differences. The costs and expenses of the arbitratorshall be borne equally by the park owner or operator and the mobile home owners.
(c) An "excessive" rent increase for purposes of this sectionis an increase which is unreasonable based on the park owner's or operator'stotal expenses, including debt service and a reasonable return on the parkowner's investment or equity in the park, provided, that the debt service isdirectly related to acquisition of the mobile home park. Debt service used toor otherwise employed for purposes other than that which is directly related tothe acquisition or capital management of the mobile home park shall beexcluded. Further, the arbitrator shall perform an analysis as to the mobilehome park owner's need for rent increase and services provided to the park.This analysis shall be performed for a period of not less than three (3) yearsprior to the application for rental increase. Specifically excluded in any suchanalysis shall be any debt service incurred using the mobile home park ascollateral or other security for investment, enterprises, businesses or similarventures separate and apart from the mobile home park.
(d) The arbitrator will promptly hear the dispute and rendera decision based on the " excessive" rent increase standard as defined in thissection. For purposes of determining a reasonable return on the park owner'sinvestment or equity, the arbitrator shall perform a risk analysis and consideralternative and comparative investments. The costs of the arbitration shall beborne by the losing party in the arbitration.
(e) No lot rent increase shall go into effect until theearlier of:
(i) Completion of the binding arbitration process, or
(ii) One hundred twenty (120) days after the written noticegiven under subsection (a) of this section.
§ 31-44.1-2 Rent increases for mobile andmanufactured home lots. – (a) Any person who owns, operates, or maintains a mobile and manufactured homepark pursuant to the provisions of chapter 44 of this title shall give themobile home owners of the park sixty (60) days written notice prior to any lotrent increase going into effect. The written notice shall set forth the currentrent, the proposed rent, and the date upon which the increase shall take effect.
(b) If a majority of the mobile home owners of the parkbelieve that the rent increase is " excessive" as defined in this section, theymay request in writing from the American Arbitration Association that bindingarbitration take place between the park owner or operator and the mobile homeowners. The association will authenticate on a confidential basis the requestand the signatures of a majority of the park mobile home owners, who shall bemade aware of the costs involved in seeking binding arbitration under thissection. For purposes of determining a majority under this section, there shallbe one vote per mobile home unit. The names of the mobile homer ownersrequesting the binding arbitration shall not be disclosed by the AmericanArbitration Association to the park owner or operator. Upon authentication thata majority of the owners are requesting mediation, the commission shall appointan impartial and qualified arbitrator, to arbitrate the dispute. The park owneror operator and the mobile home owners will cooperate with the arbitrator in aneffort to resolve their differences. The costs and expenses of the arbitratorshall be borne equally by the park owner or operator and the mobile home owners.
(c) An "excessive" rent increase for purposes of this sectionis an increase which is unreasonable based on the park owner's or operator'stotal expenses, including debt service and a reasonable return on the parkowner's investment or equity in the park, provided, that the debt service isdirectly related to acquisition of the mobile home park. Debt service used toor otherwise employed for purposes other than that which is directly related tothe acquisition or capital management of the mobile home park shall beexcluded. Further, the arbitrator shall perform an analysis as to the mobilehome park owner's need for rent increase and services provided to the park.This analysis shall be performed for a period of not less than three (3) yearsprior to the application for rental increase. Specifically excluded in any suchanalysis shall be any debt service incurred using the mobile home park ascollateral or other security for investment, enterprises, businesses or similarventures separate and apart from the mobile home park.
(d) The arbitrator will promptly hear the dispute and rendera decision based on the " excessive" rent increase standard as defined in thissection. For purposes of determining a reasonable return on the park owner'sinvestment or equity, the arbitrator shall perform a risk analysis and consideralternative and comparative investments. The costs of the arbitration shall beborne by the losing party in the arbitration.
(e) No lot rent increase shall go into effect until theearlier of:
(i) Completion of the binding arbitration process, or
(ii) One hundred twenty (120) days after the written noticegiven under subsection (a) of this section.
