As we all know, business trends fluctuate. Few industry standards remain the standard for long, as there’s always something new affecting processes. There’s a chance that the current economy may not be the right time to sell your MHP. But that doesn’t mean you can’t start planning for it.
First, take this time to make sure your park is as clean as it can be. This is what buyers, when you’re ready for them, will like to see. Even in a down market, they’ll pay more for a super clean, turnkey type of deal. Sometimes they’ll pay for value add, but your chances of a higher payout are greater when it’s easy and turnkey.
Keeping Good Records
If you have 100 plus space park, institutions will want to look at. Being well located with around 95% occupancy is also a major plus. Also, you’ll want to ensure all your book and records are in order.
This includes your rent rolls being produced properly, your PNLs and T12’s nice and clean, clear monthlies, good bank deposits, tax records and more. These should match and coincide with on another, and your records should go back at least 2 years minimum.
Working With The MHP Expert
Getting things cleaned up to sell your MHP is difficult. Mom and Pop Parks often have to do so much on their own, leading to possible mistakes in areas they aren’t as proficient in. That said, there are supports available!
The MHP Expert is qualified broker here to help you along your MHP journey. We have tons of experience across decades of efforts in the business, and we’re happy to help our peers. Have more questions for us? Feel free to check out our services page for a full breakdown of what we do. You can contact us from there!