Residents of San Lazaro mobile home park are racing against a July 18 deadline to secure $42.5 million in financing to purchase the entire 200-acre property and escape spiraling rent increases.

The resident-led buyout effort represents a growing trend of mobile home communities taking collective action to avoid displacement. Unlike traditional homeowners, mobile home residents rent the land beneath their properties, making them vulnerable to sudden rent hikes that can force them out despite owning their own structures.

San Lazaro residents face mounting pressure. Monthly lot rents have climbed significantly, and without ownership of the park, residents have limited protection against future increases. A successful purchase would convert the mobile home community into a resident-owned cooperative, giving occupants control over their own housing costs and long-term stability.

The financing challenge remains steep. The group must line up institutional lenders willing to back a cooperative purchase. Banks typically view these deals as riskier than conventional commercial real estate transactions due to the community structure and resident management model. The tight timeline gives lenders little room for lengthy due diligence.

For San Lazaro residents, the stakes are existential. Buying the park guarantees they can remain in their homes without fear of unaffordable rent increases or redevelopment. For sellers, a resident buyout removes the threat of tenant resistance and regulatory complications that often plague mobile home park sales. Local governments increasingly scrutinize these deals, sometimes imposing affordability requirements or right-of-first-refusal clauses.

If the July 18 deadline passes without financing, the park could sell to an outside investor. Private equity firms and real estate funds have aggressively acquired mobile home parks in recent years, viewing them as inflation-resistant assets. These buyers typically raise rents immediately, often pricing out long-term residents.

Resident-owned park models exist successfully across the country, but they