Phase 1: Financials
The question: is the park profitable, and can you prove the NOI?
- 3 years of tax returns and P&Ls (your lender will require them)
- Rent roll and occupancy report, including deposits and prepaid reservations
- 12-24 months of utility bills
- Current insurance policy and claims history
Phase 2: Legal and zoning
The question: can you legally operate, expand, or change how the park is used?
- Zoning verification letter from the county or city
- Operating permits and licenses: septic, pool, business, food or propane sales
- Title report: easements, liens, encumbrances
- Survey confirming boundaries and permitted site count
Phase 3: Physical and environmental
The question: what will deferred maintenance cost, and are there environmental red flags?
- Phase I Environmental Site Assessment
- Property condition report or professional inspection
- Well and septic inspections if utilities are private
- Infrastructure map: water, sewer and electrical runs
- Flood zone determination
Phase 4: Operations and contracts
The question: can you take over smoothly, and are you inheriting bad contracts?
- Employee list with roles, pay and terms
- Vendor contracts: trash, cable, laundry, booking software
- Park rules and guest agreements
- Current rate sheet and history of rate increases
Buying a park that needs work? Read how to finance RV park improvements, or ask us to look at the deal with you.