WELCOME TO LOON ESTATES COOPERATIVE, INC.
Welcome to Loon Estates Cooperative
Our History
What is a resident-owned community and what does it mean for homeowners?
What is a resident-owned community and what does it mean for homeowners?
Loon Estates Cooperative originally opened in 1965 and is now a 27-home, resident-owned manufactured home community.
But that transition didn’t happen overnight. We formed the Loon Estates Cooperative, Inc. and started on the path to resident-ownership in 2008. That’s when, with the help of NH Community Loan Fund, ROC-NH and ROC USA, LLC
Loon Estates Cooperative originally opened in 1965 and is now a 27-home, resident-owned manufactured home community.
But that transition didn’t happen overnight. We formed the Loon Estates Cooperative, Inc. and started on the path to resident-ownership in 2008. That’s when, with the help of NH Community Loan Fund, ROC-NH and ROC USA, LLC, we purchased and took control of our community. Now, the resident-owned community (ROC) is not only a successful business, but also a thriving neighborhood. The process of the resident-owned community buying the land beneath our neighborhood brought this community closer together. Not only do we know far more of our neighbors than ever before, but we look out for one another, too. And with no outside landlord to report to, we’re the envy of other nearby manufactured home communities.
What is a resident-owned community and what does it mean for homeowners?
What is a resident-owned community and what does it mean for homeowners?
What is a resident-owned community and what does it mean for homeowners?
- In a resident-owned community, tenants form a non-profit business called a corporation.
- Each household is a Member of the Corporation and an equal owner of the land. As a group, the Corporation owns the land and manages the Community.
- The Members continue to own their own homes individually.
- There are many benefits to living in a resident-
- In a resident-owned community, tenants form a non-profit business called a corporation.
- Each household is a Member of the Corporation and an equal owner of the land. As a group, the Corporation owns the land and manages the Community.
- The Members continue to own their own homes individually.
- There are many benefits to living in a resident-owned community, including control of monthly lot rent, repairs and improvements, lifetime security against unfair eviction, liability protection (Members are not personally liable for Corporation loans), and a strong sense of community.
- Everyone has a say in the way the Corporation is run, and major decisions are made by democratic vote.
Who Manages the Community?
What is a resident-owned community and what does it mean for homeowners?
Who Manages the Community?
Our Member households elect our Board of Directors, which also appoints various volunteer committees to help with special projects, celebrations, community improvements and more. The Board submits a budget every year, and the entire Membership votes on it and any changes to the rent before the budget becomes official. We’re running the
Our Member households elect our Board of Directors, which also appoints various volunteer committees to help with special projects, celebrations, community improvements and more. The Board submits a budget every year, and the entire Membership votes on it and any changes to the rent before the budget becomes official. We’re running the business that is our community on our terms, by our rules, for the betterment of ourselves and our neighbors. We are a close knit community.