UMH Properties Inc is a real estate investment trust that owns and operates manufactured home communities. Their business involves leasing manufactured homesites to individuals who own their own manufactured homes.
As a REIT, UMH is required to distribute at least 90% of its income to shareholders each year in the form of dividends. These distributions are typically tax-free for most taxpayers.
UMH has grown considerably since its inception in 1968 and currently owns 127 manufactured home communities with over 24,000 developed sites across 10 states. UMH employs a variety of strategies to optimize the performance of these communities, including investing in modern amenities and features, providing financing options to prospective residents, and offering competitive rental rates.
The company also prioritizes quality assurance through its own standards as well as HUD code regulations that all manufactured homes must meet. This ensures that each community offers a safe and secure living environment for its residents.
In addition to providing affordable housing, UMH is committed to giving back to the community through philanthropic opportunities and programs that focus on improving quality of life. This dedication has earned UMH numerous awards throughout its 50-year history, including recognition from HUD as a leader in the manufactured housing industry.
By continuously investing in its communities and striving to provide the best possible living experience, UMH Properties Inc remains a leader in quality affordable housing and a valued member of many local communities.