Auditing your Mobile Home Park

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The Hands-On Expertise to Audit Your Mobile Park

There’s a lot that goes into owning and managing a mobile home park. You have to make sure that tenants are happy and taken care of. You have to wrestle with a thicket of regulations. You have to keep your operating budget under 40-45% of your income so you don’t start to hemorrhage money. And, you’ll have to do all that while dealing with the day-to-day issues that come from owning a piece of land lived on by a lot of people.

All of this means you might not realize why your mobile park isn’t as successful as you want—or the complicated reasons why you are losing money. You may need an audit by someone with the experience and expertise to properly evaluate everything about your property.

I’ve got over a quarter-century of experience in the field, owning more than 40 properties with over 2500 residents. Let me use my experience to help you understand your mobile park business. It can help you turn around your property—and turn a bigger profit.

Factors My Mobile Home Park Audit Evaluates

People who are new to the business, have inherited a park, or come to ownership through an investment opportunity, might not understand every aspect of the field. It isn’t just “rent minus expenses.” When I audit a mobile park, I look at a number of factors, including:

Structural

Are the roads in disrepair? Do you have a long-term plan for upkeep of trees, yards, fences, streets, lights, and everything else that makes up your neighborhood? If not, and everything is <i>ad hoc</i>, you may just be throwing money away. I can help you understand if your strategy is working for the long-run, or if it is just a series of short-term moves.

Environmental

Septic systems and water rights are two of the most important issues for any mobile home park. It’s crucial that these systems are maintained, and that they are the most effective option. I’ll look at your methods for dealing with waste, and with water, and find out if they are the most efficient options out there.

Regulatory

Are you meeting every requirement from local, state, and federal regulators? Are you at risk of paying massive fines, or are you paying them already? I’ll make sure that you are safe from going afoul of government oversight.

Tenant Relations

This is among the most important aspects of a park’s profitability, and it can encompass everything from bad sidewalks to shoddy security. Your success depends on quality relationships, especially in an age where bad word-of-mouth can spread faster than wind—and put medium and long-term dents in your profits. I’ll help you evaluate all aspects of tenant relations to make sure you have the right plan moving forward.

Knowledge is Power

I believe very firmly that when you understand why your park is losing money, or if you know why it is going to in the future if you don’t change course, you’ll be able to make the right decisions about your long-term plans. I’ve been valuing and buying mobile home parks for 25 years now, and know what mistakes people make, and what they tend to overlook—especially if they are new to the business. There’s a lot to keep track of. You may need help from a fair, expert, and unbiased source.

If you’re in need of some first-hand advice, connect with me today. My audit process is comprehensive and accurate. You may not be thinking of selling, but you do want to know what you are worth—and how to make it worth even more. Mobile home parks are my passion, and I can use my experience to help you understand everything you need to know about your investment.

If you’re interested in selling, and ready to start the process, connect with me today. I’m looking forward to working with you.

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