Checklist for Potential RV Park Buyers (The Due Diligence Bible) - The RV Park Advisors

Checklist for Potential RV Park Buyers (The Due Diligence Bible)

The 4-Phase RV Park Due Diligence Checklist

Phase

Core Questions to Answer

Essential Documents to Collect

Phase 1: Financial Review

Is the property profitable, and are the financials verifiable? What is the real NOI?

3 Years of Tax Returns & P&L Statements (Crucial for financing).
Detailed Rent Roll/Occupancy Report (Including deposits/advance payments).
All Utility Bills for the last 12-24 months.
Copy of the Current Insurance Policy and claims history.

Phase 2: Legal & Zoning

Can I legally operate, expand, or change the park’s use?

Zoning Verification Letter from the municipality.
Copies of all Operating Permits & Licenses (Pool, Septic, Business).
Title Report(Identify easements, liens, or encumbrances).
Survey (Verify boundaries and site count).

Phase 3: Physical & Environmental

What is the immediate cost of deferred maintenance and are there any environmental red flags?

Phase I Environmental Site Assessment (ESA) (Identify contamination risks).
Property Condition Report (PCR) or Professional Inspection.
Well/Septic Inspection Reports (If on private utilities).
Full Infrastructure Map (Water lines, sewer lines, electrical grid).

Phase 4: Operations & Contracts

Can I take over this business smoothly, and are there any bad contracts?

List of all Employee Roles, Wages, and Terms.
Copies of all Vendor & Service Contracts (Trash, Cable, Laundry).
List of all Park Rules and Regulations.
Current Rate Sheet and a history of rent increases.

The 4-Phase RV Park Due Diligence Checklist

Phase

Core Questions to Answer

Essential Documents to Collect

Phase

Phase 1: Financial Review

Core Questions to Answer

Is the property profitable, and are the financials verifiable? What is the real NOI?

Essential Documents to Collect

3 Years of Tax Returns & P&L Statements (Crucial for financing).
Detailed Rent Roll/Occupancy Report (Including deposits/advance payments).
All Utility Bills for the last 12-24 months.
Copy of the Current Insurance Policy and claims history.

Phase

Phase 2: Legal & Zoning

Core Questions to Answer

Can I legally operate, expand, or change the park’s use?

Essential Documents to Collect

Zoning Verification Letter from the municipality.
Copies of all Operating Permits & Licenses (Pool, Septic, Business).
Title Report(Identify easements, liens, or encumbrances).
Survey (Verify boundaries and site count).

Phase

Phase 3: Physical & Environmental

Core Questions to Answer

What is the immediate cost of deferred maintenance and are there any environmental red flags?

Essential Documents to Collect

Phase I Environmental Site Assessment (ESA) (Identify contamination risks).
Property Condition Report (PCR) or Professional Inspection.
Well/Septic Inspection Reports (If on private utilities).
Full Infrastructure Map (Water lines, sewer lines, electrical grid).

Phase

Phase 4: Operations & Contracts

Core Questions to Answer

Can I take over this business smoothly, and are there any bad contracts?

Essential Documents to Collect

List of all Employee Roles, Wages, and Terms.
Copies of all Vendor & Service Contracts (Trash, Cable, Laundry).
List of all Park Rules and Regulations. □ Current Rate Sheet and a history of rent increases.