When Should You Sell Your Mobile Home Park?

There are many factors that go into selling your mobile home park. Typically, many park owners tend to sell this type of property when the market prices are high. However, knowing when the time is right is often a mix of the owner’s gut instincts and science. Let’s take a look at some of the factors that might help you determine when you should sell your mobile home park for a cash offer.

When Commercial Development Is Happening Around Your Mobile Home Park

Strong commercial development can improve the resale value of your mobile home park. Such types of development includes shopping centers, educational institutions, and tourist attractions. If your mobile home park is in need of repair, you might not want to go through the legwork of doing upgrades. In this situation, Mobile Home Park Instant Offer can help you get a cash offer on your property relatively quickly. 

Sometimes, mobile home parks are located in areas where the surrounding commercial property actually has a detrimental effect on the property’s value. If you want to get rid of your mobile home park, a cash offer can help you if you don’t have a pool of available buyers.

When Your Mobile Home Park Becomes a Tax Liability

In some states, such as Indiana, the state has a larger burden in paying for schools. In most places in the United States, property taxes pay for at least part of public education. Other factors that may change your property taxes on your mobile home park over time include:

  • Local supplemental taxes, such as bond issues.
  • An increase in property values around your mobile home park.
  • State and local budgeting initiatives.

If you are behind on your property taxes, it may be a good time to put your property in the hands of a cash buyer. Mobile Home Park Instant Offer can get you a cash offer in as little as 24 hours.

When Your Trailer Park Is No Longer a Viable Source of Income

Sometimes, your trailer park is not a viable source of income. Let’s say that you need about $50,000 worth of income from your mobile home park. If your trailer park has 80 lots, that means you are charging about $625 worth of rent per month. If a number of those lots fall into disrepair, this can cut into your rental income. Lots that are not occupied, but in good working order, also will cut into your income. 

Other types of cost can also accrue. You might need a property manager or lawn care service to help maintain the property. After a while, you might find that the property is not worth keeping, especially if you are still making payments on financing. 

Mobile Home Park Instant Offer can help you get a cash offer in as little as 24 hours to help get the property off your hands.