What is a cooperative?
Under the ROC-NH™ and ROC USA® model, a manufactured-home cooperative is a corporation made up of homeowners who own and operate their park on a not-for-profit basis. Each home is individually owned, but the land under the homes is owned by the cooperative.
These cooperatives, which we call resident-owned communities (ROCs) are democratically managed: Each household gets one vote, and members elect a board of directors to conduct the day-to-day business.
Characteristics of these cooperatives include:
1. Group ownership
- The co-op owns the land in the community.
- Residents who join the co-op own equal percentages of the corporation.
- Homes remain individually owned.
2. Democratic decision-making
- Each member household has one vote.
- All decisions are made by majority vote.
- Members elect the board of directors, who make the day-to-day decisions.
- No one person can control the co-op.
3. Open membership
- Residents can join the co-op at any time by paying the membership fee.
- Each homeowner has a lifetime lease on their lot, as long as they pay their rent and follow the community rules.
- Residents who do not join the co-op pay a non-member rent, which is typically higher than a member’s rate, and set in the community rules. They do not have a vote.
4. Limited equity
- Members pay a fixed, one-time, fee that is refunded when they leave the park.
- Membership fees earn no interest.
- Volunteerism on boards, committees, etc. is key to a successful community.
- Each co-op develops its own rules and policies.
ROC-NH™ is a program of the New Hampshire Community Loan Fund, Inc. and a ROC USA® Certified Technical Assistance Provider. ROC-NH is a registered service mark of ROC USA, LLC.