Park operations during a pandemic

Give me a shout if you need help. We have credit unions, banks and the agencies still lending in this environment. CMBS is quoting as well, but their bids are as good as toilet paper.


These are the best forms I have found to date for residents - explaining the rent payment options and helpful resources. They are template-d with source docs so that you can add your contact info or edit as needed. ~ NMHC | Tools for Communicating with Residents


@jmazur i think toilet paper these days is equivalent to gold bullion… maybe rephrase “their bids are as good as empty toilet paper rolls “. :slight_smile:


So now that we’re four days into April and the new rental cycle, here’s what we’re doing: On a case by case basis we’ve been largely accommodating of anyone who is having trouble paying rent. What has been working so far: We’re accepting partial/split April rent payment and waiving all late fees for our tenants. In return, we’re asking that when the stimulus money hits their bank account, they pay the outstanding amount for april AND prepay all of May.


We got business interruption insurance, which we purchased because we were afraid of the effects of floods or weather on the park. Gee, seems that was a wise move, since it covers “loss of income” based solely upon the residents’ inability to pay. No fancy exclusions. While I think we’ll be OK since the vast majority of residents are retired on fixed incomes, in retrospect it seems a brilliant, albeit expensive move.


I also have business interruption insurance, but it specifically excludes rent losses due to a viral pandemic (rat bastard insurance companies). Also excludes rent loss from interruption of utility service due to broken underground gas lines (my lines were condemned by the gas company 3 weeks ago). I should have the gas lines replaced within another couple weeks at huge expense/stress but in the meanwhile am discounting the lot rent by 50% and cannot recover it.

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You properly classified most insurance companies, for sure. We had to look long and hard, and paid a pretty penny for the insurance, but, in retrospect, it was worth it. For a 360 space park, $ 25,000 a year in insurance is pretty rich… until Corona Virus puts more than half your residents out of work. Then you are really, really happy you have a good policy. Important to read the policies front to back before you pay for them. I always ask for a sample policy with quotes I get. Learned the hard way, when I had a policy which had more exclusions than coverage ( written by Nautilus, a rip-off company in my opinion)


We are now past the 5th of April, I believe most parks use a due by the 1st and late if received after the 5th policy. I am curious what other park owners are seeing with regard to April rent collections.

For my two parks (100+ pads) I saw no difference in the percent of late payments for April than I have seen historically. And no one specifically cited COVID-19 as the reason they were going to be late.

What are others seeing for April rent collections? Any drop off in collections? Any others willing to share would be greatly appreciated.

Thank you.

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We are going steady at our parks as well. Tenants who pay on time are still paying on time, tenants who pay late / never are still paying late/never.

I’m seeing the exact same MickG. I just sent follow up texts to the always late tenants asking for an update on payment and to know if they are struggling due to covid.

I saw an average of 10% of additional residents failing to pay on time at my parks between March and April collections. Some parks were more than 10%, some were less than 10%.


Most insurance company reports are saying that virus related income losses or reductions will not be covered by those “rat bastard insurance companies.” Most policies written by Nautilus Insurance Company, typically an insurer of last resort, include more than the usual amount of coverage exclusions. Loss of business income coverage standard forms require a shut down of the business due to physical damage at the property caused by a covered peril.

That said, we are advising clients with notable income drops to report the claim to their insurance company as it is not certain there isn’t coverage. A policy holder doesn’t have to prove there is coverage. The insurance company has to prove there isn’t.


Doing good for April collections. 98% collected by 4/07.

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I think we should remain optimistic. Many more positive aspects of what is happening. People rethink a lot. Look at the selection of house warming wishes and quotes here -

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I think my park operations are business as usual. 100% tenant payments with my normal two problem tenants paying late… not really big surprise. I think my philosophy at this point is “Stay the course”. I can always adjust my thinking and processes if and when that’s necessary.


One other aspect of operations we have really embraced is using Docusign for any paperwork applicable. This goes for leases, rules, purchase agreements, payment agreement requests & plans, etc.

Of course make sure they are allowed in your jurisdiction but it is both faster and much more time and labor efficient.

Even after Covid-19 ends we plan to continue this procedure.


Curious to know how successful other park owners have been with lose of income claims. I was told carriers are not paying loss of income claims related to COVID.