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IPFS News Link • Housing

Trailer park king sued by residents in Texas for raising rents

• http://www.theguardian.com

A multimillionaire trailer park landlord who boasts that he makes big profits by buying up cheap trailer parks and immediately increasing rents is being sued for allegedly doing just that.

Frank Rolfe, the US's 10th-biggest trailer park owner and co-founder of a bootcamp designed to teach other people how they too can become millionaires from mobile homes, is being sued for allegedly breaching rental contracts by nearly doubling bills for tenants at a trailer park in Austin, Texas.

The move comes as trailer parks have become increasingly controversial investments. Billionaire Warren Buffett was forced to defend the high-interest loans one of his companies gives to low-income trailer park buyers at his annual shareholder meeting earlier this month.

Rolfe's residents, who are facing eviction from their homes, said Rolfenearly doubled their combined rent and utility bills almost immediately after buying the North Lamar mobile home park in an immigrant neighbourhood in northern Austin.


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