What is the biggest thing that you worry about as a park owner? Have you ever had it happen? How did you deal with it? Was it really that bad?
For me my biggest worry is infrastructure, most specifically water lines. Especially broken or frozen water lines in the winter time as I am in the North. I have had some above ground issues with pipes freezing and breaking, that didn’t seem so bad to deal with. I have had some underground leaks that I have had to call in an excavating contractor to come repair, but only in the summertime. Never a bad issue in the dead of winter with several feet of frozen ground. Have you had a below ground water line issue to deal with in the dead of winter? How did you get it fixed?
Whats the worst issue that you ever had to deal with? How did you deal with it?
I haven’t had a bad water leak in the dead of winter, but in many cases I’d imagine you could just let it run and eat the cost until the season turns. Breaking through several feet of frozen ground can definitely be done, but it may be cheaper to just eat the cost of the lost water.
I once had a partial sewer collapse at the end of the sewer run, 17 feet underground, underneath a home. The break was also beneath the water table. We had to move the home off, destroy the foundation, dewater the area, excavate 17 feet, and then put it all back together again. The cost was around $40,000.
My biggest worry is probably that a natural disaster strikes and destroys a bunch of resident owned homes. Loss of income insurance is fairly paltry, and if a lot of resident homes get destroyed and those residents don’t come back, a park with a lot of debt is going to be in big trouble.