You can easily find mobile home parks across the USA. These are mobile homes that are small in size, have all the utilities, and everyone can afford them at many reasonable prices. Many people live in such dwellings while saving up to rent or buy a land-built home for themselves.
Mobile home parks have existed since the late 1950s, and the average lifespan for these is between 30-55 years. So, if you find these factory-built houses now, know that they are old. As the homes get older, the problems also increase. This article mentions some common issues owners of older factory-built houses face and how they deal with them.
What are the common problems with older caravans?
The most common problems in any house are related to plumbing, HVAC, insulation, washer drains, etc. it is the same in these caravan parks. Some of the common issues are:
- Foundation: One of the most common problems is the lack of a proper foundation. It is necessary to have a strong base for the homes to withstand different weathers. However, the factory-built homes have loose foundations because they are temporarily fixed.
- Leaking roof: As the homes begin to age, the roof material deteriorates because of environmental factors. It is common for caravan roofs to have leaking roof problems. The asphalts and shingles roll up from the edges. Thus, the top no longer stops the water from entering the home. As a result, it also causes ceiling damage and other related issues.
- Plumbing: When people do not run the maintenance projects timely, the plumbing issues magnify and cause serious problems. Some homeowners even have to face toilet flushing problems because of clogged drains.
These are the most common issues that caravan park owners face. Some park owners choose to take up the repair project, while others look for a nice mobile home park offer to sell their property and eliminate the problems. In cases where repairs and renovation project costs are higher and do not guarantee a good return on investment, selling off the park to a good investor makes complete sense. You do not have to spend money on repairing; many investors buy the property as-is from owners.
Why is it a better idea to sell off your caravan park?
So, if you own a moving home park, you understand that maintaining the place is challenging. Read on to find the reasons to sell off the trailer park:
- Save yourself from the hassle of constant repairs and replacement. There is always something that needs an upgrade or repair.
- If you have a compromised septic tank, you would not want to deal with it because it takes up a lot of money, time, and energy. It is more like a nightmare.
- The repair and maintenance soak up a huge portion of your income, thus, leaving you with little or no savings.
- Reminding the tenants of their rent and dealing with stubborn people onsite is a constant hassle.
- It is a huge liability. Any tenant can sue you for their injuries anytime.
Thus, it is a good idea to sell the trailer park and invest the money in places that offer a better return on investment. The issues are never-ending because of the poor maintenance by the tenants and damage due to external factors.
