UMH Properties backs new manufactured housing legislation

UMH Properties, Inc. (NYSE: UMH), a real estate investment trust that owns and operates manufactured home communities, issued a statement supporting the 21st Century ROAD to Housing Act, bipartisan legislation aimed at expanding manufactured housing supply and updating related regulations.

The legislation includes several provisions relevant to the manufactured housing sector. It removes the permanent chassis requirement from the federal definition of a "manufactured home," allowing units to be built with or without a chassis. According to the company, this change is expected to reduce construction costs, enable multi-story designs, and allow more flexible installation options.

The bill also updates FHA Title I financing through the Property Improvement and Manufactured Housing Loan Modernization Act, raising loan limits for FHA-insured manufactured housing loans and expanding eligible uses to include accessory dwelling units.

Additional provisions promote zoning reform through incentives for local governments and guidelines intended to ease placement restrictions on manufactured homes in various residential areas.

Samuel A. Landy, President and CEO of UMH, said the legislation "removes outdated barriers that have limited their potential," adding that reforms would "lower production costs, improve financing access, and ease placement restrictions."

Lesli Gooch, CEO of the Manufactured Housing Institute, said the bill "will expand the range of homes that can be built under the federal residential construction code" and "improve financing options for small dollar loans for manufactured homes."

UMH currently owns and operates 145 manufactured home communities containing approximately 27,100 developed homesites across New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia. Of those homesites, 11,200 contain rental homes. The company also operates over 1,000 self-storage units.

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