Sewer has been brought to the next lot, but wasn’t extended to the park. That was something I was going to investigate further if I got it under contract.
The current owner has it in the lease that the tenants are responsible for the septic maintenance. That doesn’t sound like a good idea because when it goes bad, the owner is going to have to foot the bill. I was going to take this over, look to bill back water and raise rents down the road.
Currently, the owner takes the trash to the dump himself. So I don’t have any issues getting bids for this.
The homes are all from the 80-90s. Average tenancy in the park is 11 years, with some as long as 36 years, some as recent as this year. The most recent ones are paying a higher rent than the older ones. I’ll be bringing everyone up to market rents.
Thanks for the feedback