How To Get Out of Owning Your Mobile Home Park

Many trailer park owners are starting to look for other investment opportunities. There are other enticing opportunities for property investors who want a more passive income. Trailer parks are often lucrative income sources, but over time managing your trailer park can become a hassle. Let’s take a look at some of the reasons why you might want to get out of your mobile home park and how to make that a possibility.

Dealing With Tenants

When you own a trailer park, you have the opportunity to work with tenants from all different walks of life. However, there are a wide variety of different issues that you might run into, such as:

  • Having to deal with late payment of rent.
  • Repairing normal wear and tear to units.
  • Dealing with vacancy when tenants move out of your units or are evicted.

On average, the typical landlord will spend between two to four hours per month dealing with tenants. If you are looking for a fast cash offer on your mobile home, you might be able to find a buyer like Mobile Home Park Instant Offer that can help you sell your park, even if tenants are living there.

Dealing With Regulations

Different areas of the country and different cities have varying regulations that pertain to mobile home parks. Many cities are making new mobile home park construction difficult. Regulations for existing mobile home parks can have certain requirements for anything ranging from utilities to hoops that you have to go through when you are selling your mobile home. These regulations can be a headache. For example, some cities have a regulation that says a tree growing in your tenants yard larger than 8 inches is the landlord’s responsibility. If you want to stop jumping through hoops, then a fast cash offer on your mobile home park is the way to go.

Dealing With Modernizing Your Park

Even if your tenants bring their own mobile home to your park, there are issues that you as a landlord are responsible for. For example, you may find that you want to better control utility usage for each lot or want the tenants to start picking up the cost. You’ll likely need to modernize your park by adding sub-meters to each lot. The typical cost to add sub-meters is around $200 to $400 per lot. Other modernizations and maintenance include paving common roads through the park, landscaping, perimeter fencing, and more. If you want to avoid the cost of modernizations, a fast cash offer might be a great way out of your trailer park ownership.

Other Investment Opportunities for Mobile Home Park Owners

There are many different investment opportunities for trailer park owners. A fast cash offer could potentially let you pay down debt, invest in the stock market, or find another property that will generate a steady return on investment. Work with Mobile Home Park Instant Offer to get your fast cash offer.