SongBrook LLC will never arbitrarily increase your rent. It is written in your 25 year lease agreement.
Adjustments to rent at SongBrook are tied to three items, and three items only:
1. The Consumer Price Index, "CPI"
2. Property Taxes & Other Governmental Charges
3. Lease Agreement Renewals
Since 1994 when homes were first built at SongBrook, the CPI for all urban consumers has increased at a national rate averaging approximately 2.46%. Additionally, since 1991, the property tax rate has lowered over $8 per thousand dollar value. The 2004-2005 property tax rate is $18.84 per assessed thousand dollar value.
With its long term, 25 year lease agreement, SongBrook management cannot arbitrarily raise rents due to increased capital expenditures, ever! Your rent figure may increase from year to year due to inflation and property taxes; however, the "value" will always remain the same. In other words, your rent figure in 2005, for example, will have the same dollar "value" as your rent figure did in 1994!
SongBrook "55 and Over" Fair Housing Exemption
Despite general prohibition against familial discrimination, both state and federal law provide a number of exemptions, one being the "55 and Over" exemption; codified at 42 U.S.C §3607(b)(2)(C) and at ORS 659.033(b)(6). The Department of Housing and Urban Development have developed regulations outlining the "55 and Over" exemption at 24 C.F.R. §100.304. In order for a housing provider to fit within the "age 55 and over" exemption, the housing provider is required to:
* assure that at least 80% of the units are occupied by at least one person who is 55 years of age; and publish, and adhere to, policies and procedures which demonstrate an intent to maintain the housing as "age 55 and over" housing.
SongBrook LLC adheres to these standards, providing unique and specialized services for the 55 and over community.
SongBrook Longterm Lease Benefits
What we create in a community such as SongBrook, is “quality leisure living”; a chosen "lifestyle". We understand our prospective Homeowner is capable of purchasing a home anywhere, but in most cases they are interested in a "lifestyle" which offers a sense of security, a community center, R.V. parking and storage, recreation, and fellowship.
One important factor to this “lifestyle” is the long term site lease at SongBrook. Through experience, we have found that people retiring must make the equity in their present home work for them in their retirement years. An ideal opportunity is to use the cash you could have invested in bare land elsewhere, continue to create equity in your new manufactured home, and be able to have all the amenities which SongBrook has to offer. When you really think about it, leasing is the desirable choice. Not only do you receive a good size homesite, you save on taxes, maintenance, some utility expenses, and homeowner fees; you choose a new “lifestyle.”
If you someday decide to sell your home, the sale to a new Homeowner is completed in much the same way as any other real estate transaction. You may either list the home with a licensed broker, dealer, or sell the yourself, and you are entitled to all profits received. The lease at SongBrook is designed to adjust with property taxes and the cost of living, which is keyed to the Consumer Price Index. SongBrook cannot arbitrarily adjust your lease payment.
The benefits you receive with your SongBrook long term site lease are:
* Lifestyle of a “55 & Over” community
* Protection of your investment through community rules and architectural standards
* Financing options for home, garage, and land improvements
* Free use of the community center and recreation areas
* Water and sewer paid
* Discounted Cable Television and Garbage
* Taxes paid on the land
* Electronic entry gates
* Pet exercise area
* Community garden area
* Enjoyment of Muriel Pond and Harvey Falls
* Maintenance of the greenbelts, walking paths, and storage areas
* Maintenance of streets, storm drains, and sewage system
* On-site Assistant Manager
SongBrook LLC operates an on-site manufactured home dealership, otherwise known as "Lifestyle Sales Corporation", offering pre-owned homes with attached garages.
Call today and begin living your dream lifestyle.
