DOVER, Del. (AP) -- Delaware's Senate has approved a bill restricting the ability of manufactured home park owners to raise lot rents.
The legislation approved Thursday and sent to the House requires park owners to seek approval from a state board if they want to raise lot rents more than the average annual increase in the Consumer Price Index for all urban consumers for the preceding three years.
The Delaware Manufactured Home Relocation Authority would consider the costs of operating and maintaining and improving the affected community.
If an owner does not demonstrate that those costs in the prior 12 months have exceeded the relevant Consumer Price Index, the authority would deny the rent hike request. If the authority believes the costs have exceeded the CPI, it would determine an appropriate rent increase.
- Company Legal & Law Matters