What are the differences between buying an RV park versus a mobile home park?
Although they might be marketed by the same broker, mobile home parks and RV parks are two different sorts of properties with different features and considerations, so it’s vital to understand this when shopping for one.
The two can differ greatly in terms of elements like the tenant base, rental income, amenities, upkeep, and rules. Due diligence must be done thoroughly and each property must be assessed on its own merits rather than presuming they are all equal investment chances.
The following are some significant distinctions between an RV park and a mobile home park:
- Tenant base:
The tenant base might vary greatly in the context of mobile home parks and RV parks. The majority of tenants in mobile home parks are long-term residents who own their homes but rent the land. In contrast, RV parks often have a tenant base made up of more transient individuals who remain for shorter durations, such as a few days or weeks.
- Amenities:
At mobile home parks, there could be facilities like community centers, swimming pools, playgrounds, laundries, or even on-site retail or dining. Conversely, RV parks could offer different conveniences, such as Wi-Fi, water, sewage, and electricity hookups, as well as outdoor entertainment facilities like hiking trails and fishing ponds.
- Ease of movement:
RV parks typically provide residents with greater mobility options when compared to mobile home parks. This is due to the fact that RV tenants are frequently more temporary and mobile, and they frequently only stay in a park for a little length of time.
Mobile home parks, on the other hand, are built for long-term inhabitants who own their homes but lease the land. The mobile home park may therefore contain more permanent features and services that cannot be moved.
