Help! Purchasing a trailer Park

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Help! Purchasing a trailer Park

Patricia KelleyPro Member
New to Real Estate · Tucson, AZ · Member since 2023 · 3 posts · 0 votes

Hey everyone! My husband and I are in the process of purchasing a small trailer park in Arizona. I was just wondering if there is anyone on here who owns a trailer park and may be willing to help with questions I have. I'm wondering about the type of insurance I need and how lot leases should be structured. Any guidance would be appreciated, thank you!

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Janice Carter
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 607 votes
5mo

@Patricia Kelley For insurance and lot lease structure, I would recommend connecting with a local attorney and insurance broker who specialize in mobile home parks. You may also want to join your local REIA to network with other park owners and get real, market specific insights.

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  • Janice Carter
    Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 607 votes
    5mo

    @Patricia Kelley For insurance and lot lease structure, I would recommend connecting with a local attorney and insurance broker who specialize in mobile home parks. You may also want to join your local REIA to network with other park owners and get real, market specific insights.

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  • Denise SuppleeBusiness Member
    Realtor · Willow Grove, PA · Member since 2017 · 993 posts · 647 votes
    5mo

    Hi @Patricia Kelley, nice to meet you here on BP! I’d start with an insurance broker who specifically understands mobile home/RV park coverage, not just a general commercial policy. My club invested in a mobile home park it's a good asset. You’ll want liability, property coverage for any park owned structures, loss of income, and possibly environmental/utility related coverage. For leases, I’d have an Arizona attorney draft them around lot rent, utility responsibility, park rules, abandonment, maintenance obligations, rent increases, and eviction or default procedures. 

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  • Logan M.
    Investor · Provo, UT · Member since 2016 · 759 posts · 626 votes
    5mo

    Message and we can jump on a call. I am in Utah, which isn't too far away.

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