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Campground News Episode #1: Family Lives in Campground Because of Housing Shortage and RV Park Stats

 
Let’s take a look at some camping news around the country. First story I’ve got for you today is about a family in Memphis who moved from Florida because their owner of the home, they were renting decided that he could sell it and make a lot of money because the housing prices have appreciated and inflation has hit. So they moved to Memphis where he got a job.

However, they got there and couldn’t get any place to live. So they were forced to live in a campground. So one of the trends that you want to watch for is I don’t think this is going to be an isolated case. I think they’re going to be a lot of people who are seeing opportunities to sell the home that they live in and cash out in a big way, and maybe get a chance to move around the country through an RV or a travel trailer and get to explore places they normally wouldn’t.

This is especially important in the remote workforce. And as we know, we’ve got a lot of people who’ve just flat out quit their jobs they’ve left. So this also could be a little bit of an opening for campgrounds to find work campers who want to enjoy their campground and do a little bit of work for some money.

So take a look around and see how this might fit into your plans and be prepared. If you do have people coming, you’ll want to enforce your rules to make sure that they are not making this a permanent settlement, unless of course your campground houses those types of folks, and that is fine as well, but be prepared to let your campground see how this affects you.

Another cool story I saw this week was from RV university, and this was about investing in RV parks and it had an interesting statistic here. So the stat is that the average annual rate of 7% is what the market is predicted to do in the global RV industry. That it will increase 7% per year until 2025. Those are huge numbers and more than 11% of American households now own an RV.

The world is your, is your market at this point. So make sure that you’re watching those stats. They’re really interesting to see how our marketplace is changing very quickly from what used to be a retirement tourism project onto a way of life for many people. So check out these stories. I’ll include the links below. If you’d like more details, look forward to seeing what happens in our news for next week I’ll report later, thank you.

Donna Bordeaux, CPA with Campground Accounting

What happens when you send two CPAs out into the relaxing outdoors to camp? You get CampgroundAccounting.com.  Donna and Chad have over 50 years of combined experience as entrepreneurial CPAs.  They’ve owned businesses and helped business owners exceed their wildest dreams. They camp and travel across the country every chance they get, so it’s just a natural fit that they focus their CPA skills on helping campground owners throughout the USA grow their businesses and minimize the impact of taxes.  They understand the key performance indicators and specialized issues that face RV park owners every day.