About Horizon Land Co.
Horizon Land Co., LLC is an experienced owner-operator of Manufactured Housing Communities. Formed in February of 2006, Horizon acquired its first community in January 2007, and it currently operates 56 communities across 9 states, comprising, in the aggregate, over 9,000 rentable sites. Horizon’s sole business is owning and managing manufactured housing communities, and we do it well. At Horizon, we realize our Residents pay good money to live in our communities, and we strongly believe that those Residents deserve competent management and solid maintenance in exchange for their rent. Through its hands-on ownership and operation of its communities, Horizon has developed and perfected property management systems geared toward establishing and maintaining affordable, clean, safe, and peaceful neighborhoods for our residents. Horizon employs a two-tiered management structure: Resident managers and maintenance personnel attend to the day-to-day operations of each community, and the back-office and higher level management functions are performed from our corporate offices in Maryland.
About Manufactured Home Communities
Manufactured Housing Communities (“MHCs”) are a unique form of affordable, multifamily housing where homeowners reside in manufactured homes that are quasi-permanently affixed to land that is leased from a landlord. In other words, an MHC is effectively raw land, improved by roads, utility infrastructure, and community facilities and amenities, which is divided into “lots or pads” where home-owning residents pay a monthly ground rent in exchange for living in the community, placing their home on a specific “lot or pad,” and hooking into water, sewer, electric, and other utility services. Generally, as is the case with most of Horizon Land Co., LLC’s communities, the landlord is responsible for maintaining the roads, utility infrastructure, vacant lots, open-space common areas, community amenities, and the safety and integrity of the community, while the residents, who usually own their own homes, are responsible for the maintenance of their leased pad and their individual homes.
An MHC is no different than a typical residential neighborhood, except the homeowners do not own the land upon which their home sits. By leasing, rather than owning their real property, residents are able to realize and enjoy all the benefits of traditional home ownership, but typically for less cost, as leasing the land eliminates most of the expenses and obligations associated with buying and owning land; indeed, most often the lot rent that residents pay the landlord is less than they would have otherwise paid in real estate taxes and mortgage expense.
Just like a traditional “stick-built” home on non-land-leased property, homes located in an MHC are valuable assets whose value will increase or decrease with the real estate market. For this reason, the location and general standards of the MHC in which a home is located are critical factors to maintaining the value of the home. Land Co. strives to provide our residents with a clean, safe, and peaceful alternative affordable housing opportunity in which the values of our residents’ homes are maintained through Land Co.’s high maintenance standards for its communities in general.
We invite you to contact us with any questions you may have about our communities or MHCs in general.