Looking to purchase a 16 pad trailer park
Im in the process of purchasing a trailer park with 16 lots along with 2 commercial buildings. I am moving my construction business into the buildings. My question is with no experience with trailer parks is there any recommended advice on dealing with tenants in the park and setting expectations from the start of when we take over?
Right now they are on month to month lease and they pay all their own utilities. I am trying to decide if I should increase lot prices right away (they are about $100 below market value) along with if I should collect security deposits.
Any advice would be appreciated.