LaCasa Resident Owned Community:

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Florida Resident Owned Communities


A Resident Owned Community is a community in which the residents own the land under a common ownership arrangement. As such, a resident-owned community may act corporately in regards to the land and the management of the community. Cooperatives or land trusts are resident-owned community structures. There are two major reasons for residents to seriously consider purchasing a share in a Resident Owned Community such as LaCasa:

QUALITY OF LIFE 

  • Ownership provides a vote and control over the quality of services and maintenance of your community
  • Ownership allows a vote regarding the enforcement of rules and regulations;
  • Ownership allows the assignment of all rights and interest to their property;
ECONOMIC SECURITY
  • Ownership protects against future rent increases;
  • Ownership may immediately reduce housing costs;
  • Ownership will create and maintain a stabilized monthly Cooperative Fee:
  • Ownership means potential appreciation of home value;
  • Ownership produces an excellent return on your investment;

Why should I buy a share in the community? 

You control management, you control quality of services, you have all the benefits of real property ownership; you can will or devise the property to heir; you may qualify for a homestead exemption; there will be no outside profit motivated investor owners to deal with; you will receive tax benefits by owning and you have Pride in Ownership.

What do I actually own?  

Due to the structure of cooperative ownership, you own a pro rata share of the entire community including common elements.  In our 974 lot community, the participants own 1/974 share of the entire real estate in our community.

What is a "share" worth?

The value of a share depends upon the location of the lot in the park. There are several categories of lots. For instance, does it have a view of the lake? Is it on a salt water canal? Does it overlook the clubhouse? All of these factors determine its worth. For an exact pricing of each type of Lot Share Value for 2007, CLICK HERE

Do I have to buy a share? 

There are some homes that are not attached to a share. so there are two options. The buyer may purchase the Home with Membership, paying for the membership in full. Your Share would pass to the next buyer along with the Home, and that buyer would than pay only the established Cooperative Fee rather than rent, just as you did.

If you choose a Home not tied with a share, monthly lot rent is charged at market price, and subject to increases tied to the Consumer Price Index each year.