Land Lease Community

A land lease community is where residents own homes but lease the land, offering affordability with ongoing lease payments.

Land Lease Community

September 30, 2025


What is a Land Lease Community?

A land lease community is a residential development where residents own their homes but lease the underlying land from a landlord or developer. Common in manufactured home parks, retirement communities, and resort areas.

Why Land Lease Communities Matter in Real Estate

Land lease communities matter in real estate because they lower upfront costs for homeowners but add ongoing lease obligations. They provide affordable housing options but may impact long-term equity growth.

Example of Land Lease Community in Action

A retiree purchases a modular home in a land lease community, paying monthly rent for the lot while retaining ownership of the home itself.

Key Takeaways

  • Residents own homes but lease underlying land.
  • Common in retirement and manufactured home communities.
  • Lowers upfront purchase costs.
  • Creates ongoing lease obligations and restrictions.
  • May affect long-term equity appreciation.

Related Terms

Additional Terms

Public Realm Improvements

Public realm improvements are enhancements to public spaces such as sidewalks, parks, plazas, and streetscapes, often funded or contributed by. more

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

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