5 Key Signs It’s Time to Sell Your Mobile Home Park: Maximizing Profits for Park Owners
Why should you consider selling your mobile home park? Owning a mobile home park can be expensive. It may be time to consider selling your property to put some much-needed cash in your pocket.
There are many financial incentives to sell. After all, running a park isn’t easy. You have to deal with a lot of moving parts to ensure continuous profit. From low occupancy rates to expensive repairs, finding the cash to deal with these financial issues may be challenging.
However, knowing when to sell your mobile home park can also be difficult. We’ll go over five signs that show it’s time to sell your mobile home park. But most importantly, we’ll also discuss the best solution to save you time and money–fast cash offers.
Low Occupancy Rates
One of the biggest factors in determining whether a mobile home park is profitable or not is the occupancy rate. For parks with low occupancy rates, owners will have trouble making a profit. In order to keep a steady cash flow, you’ll want to have low turnover rates.
One of the best ways to do this is to keep long-term tenants happy with public amenities and to have tenant-owned homes. However, if you’re having trouble keeping long-term tenants and occupancy rates high, it may be time to consider selling. If you’re not making enough money, the best option is to sell the mobile home park.
Low Rents
Depending on location, the state of the park, demand, and other factors, charging low rents may be a necessity. However, if you charge low rents, you’re unlikely to make much money. Two of the biggest factors when determining the rental price of a mobile home are the location and the state of the property.
If your mobile home park is far away from cities and towns, you’ll have a hard time finding tenants. The mobile home parks that make the most money are close to stores and common work locations. If your park is in the middle of nowhere, people will not want to commute to work every day. A bad location can be hard to overcome and may leave you feeling the financial stress of keeping ownership of the park.
Expensive Repairs
Owning a park means that you will be responsible for repairs. Depending on whether the trailers are tenant-owned or property-owned, you may be on the hook for a lot of repairs over the years. Having tenant-owned homes is the best option for park owners financially. This way, you won’t be responsible for any repairs needed for the trailers.
However, you will still be responsible for arranging and paying for repairs in common areas. You’ll need to think about the costs of these kinds of repairs during ownership, as well as when you decide to sell your mobile home park. When you choose to opt for our fast cash offer, you won’t need to worry about the current state of the park. We’ll make an immediate offer without any repairs necessary. For those who are short on cash and have parks that need repair, going with our company ensures that you won’t have to pay any expensive upfront costs in order to sell.
Sewage Systems
Some parks are part of a public sewer system, while others have a private septic system. If your mobile home park has a private septic system, you’ll most likely have to deal with the costs and maintenance of it yourself. This means that you’ll need to pay for maintenance and repairs in case of leakage or another big problem. Additionally, because there are a lot of health risks and responsibilities with a private septic tank, you may have trouble finding buyers.
When you work with us, we’ll get you a fast cash offer so you won’t need to deal with costly repairs. For parks with a private septic system, this will likely be the best solution, as it will be hard to sell to potential buyers.
Ongoing Maintenance
When you own a mobile home park, you’ll need to keep up with a certain level of maintenance. This may look like taking care of the grounds, septic and plumbing, and any other common areas of the property. Taking care of the property may take up a lot of your time if you decide to do the work yourself. Hiring outside help for these tasks will also require you to pay recurring contractors’ fees.
If you’re tired of spending a lot of cash taking care of your property, it may be time to consider selling. We get you a fast cash offer that can be completed in as little time as a week. Compared to other ways of selling your property (which may take a month or longer), you’ll save a lot of time and money.
How Can Fast Cash Offers Help You Out of These Financial Pitfalls?
Fast cash offers get you money quickly. When you’re tired of spending cash on ongoing maintenance and expensive repairs, selling is the best solution. However, selling mobile home parks can be challenging. If your park is located in a less-than-ideal location or you have a private septic system, you’ll likely have a hard time finding buyers. Fast cash offers eliminate the long waiting period for finding buyers. Plus, you won’t need to perform any repairs in order to sell it. We’ll buy your property as is.
It may be time to sell your mobile park home when you’re not making a profit, facing expensive repairs, or you’re just tired of the ongoing maintenance costs. We offer to take the property off your hands in its current state, so you can get cash for your park fast. If you’re interested in learning more about getting a cash offer for your mobile home park, get in touch with our team.