UMH Properties CEO Sees “Fantastic” Fundamentals Across Core Markets

Sam Landy, president and CEO of UMH Properties, Inc. (NYSE: UMH), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.

Landy described fundamentals across UMH’s core markets as “fantastic” this year. He pointed to increased sales and occupancy in Pennsylvania, Ohio, New York, Indiana, Tennessee, and New Jersey.

UMH, meanwhile, has a policy to acquire any vacant land adjacent to its communities. Landy noted that efforts by the Trump administration to make it easier to get local approval for manufactured home communities “could add significant value to our vacant land.”

UMH is currently in the process of building 350 lots in 2019, with about 850 lots “well along” in the approval process for 2020, Landy said.

Landy also commented on the importance for its residents of separately metering water and sewer costs.