Financial records
The purpose is not suspicion. A buyer needs to rebuild net operating income from verifiable sources, because a lender or an investment partner will ask them to. Where records are informal — a cash-heavy store, handwritten site logs — say so up front. It is workable; a surprise later is not.
- Profit and loss statements, ideally three years, monthly if available
- Tax returns for the business entity covering the same period
- Bank statements that corroborate deposits against reported revenue
- Rent roll or site roll: site number, type, rate, occupancy status, tenure
- Reservation system reports: occupancy by month, average daily rate, length of stay
- Deposits held, including prepaid seasonal and annual payments
- Accounts receivable and any chronic non-payers
- Utility bills for the last twelve to twenty-four months
- Property tax bills and any local transient occupancy tax filings
- Insurance policies, premiums, and loss history
- Payroll records and staffing schedule, including any owner compensation
- Capital expenditure history: what was replaced, when, and for how much
Water and wastewater
This is the single most consequential technical area in campground diligence, and the most common source of price adjustments in Virginia.
- Water source: public connection, private well, or a permitted community waterworks
- For wells: yield, age, treatment equipment, and recent water quality testing
- For community systems: the operating permit, licensed operator arrangement, and sampling history
- Wastewater: public sewer, conventional or alternative on-site septic, or a small treatment plant
- Permitted design flow and how it compares to actual peak-season usage
- Drainfield age, condition, and whether a reserve area exists
- Pump-out records, service contracts, and any history of failures or violations
- Dump station condition and permitting
- Correspondence with the health department or DEQ, including any notices
Electrical and site infrastructure
- Total service capacity and whether it supports current and future demand
- Pedestal age and mix of 30-amp, 50-amp, and 20-amp service
- Whether sites are individually metered and how electricity is billed to long-term guests
- Panel condition, grounding, and any prior electrical inspection findings
- Pad type and condition, site dimensions, and pull-through availability
- Interior roads: surface, width, turning radius for large rigs, drainage
- Lighting, signage, and perimeter condition
Buildings and amenities
- Bathhouses: fixture count, condition, ventilation, ADA considerations
- Laundry, camp store, office, and pavilion condition and code status
- Pool, if present: permits, fencing, equipment age, and health inspection history
- Any residence or park-owned rental units, cabins, or park models
- Playgrounds, docks, boat ramps, trails, and their maintenance history
- Roof, HVAC, and structural condition on each building
- Equipment conveying with the sale: mowers, tractors, golf carts, tools
Zoning, permits, and legal use
Grandfathered and legally nonconforming parks are common in Virginia and are not a problem in themselves. What matters is evidence that the use is established and understood by the locality, because a nonconforming use can be jeopardized by discontinuance or expansion.
- Zoning classification and whether campground use is by right, conditional, or nonconforming
- Conditional use permit conditions, if any, and whether the park complies with them
- Campground operating permit from the health department and its current status
- Approved site count versus actual site count in use
- Long-term or residential occupancy and how the locality treats it
- Any open code enforcement matters, notices of violation, or unresolved complaints
- Building permits for structures added over the years
Title, survey, and access
- Title commitment, exceptions, easements, and any encroachments
- Deed, legal description, and current survey if one exists
- Access rights: public road frontage or a recorded easement
- Boundary lines against adjoining owners and any historical disputes
- Liens, judgments, mortgages, and payoff amounts
- Mineral, timber, or water rights held separately
- Land use taxation enrollment and any rollback tax exposure on a change of use
Environmental and site conditions
- Phase I environmental site assessment, typically required by any lender
- Underground or aboveground storage tanks, current or historic
- Floodplain and wetland mapping across the site
- Prior uses of the land, particularly fueling, agriculture, or industrial activity
- Stormwater management structures and any permit obligations
Tenants, contracts, and operations
- Written agreements with annual and seasonal tenants, or the absence of them
- Any agreements that resemble residential tenancy rather than camping
- Employee arrangements, including workamper agreements and housing provided
- Vendor and service contracts: trash, propane, laundry equipment, internet, cable
- Franchise, affiliation, or booking platform agreements and their transferability
- Software and reservation system, and whether data transfers with the sale
- Online reputation across review platforms and any recurring themes
- Ongoing litigation, insurance claims, or guest disputes
How to make diligence go smoothly
Assemble what you have before you need it, disclose known problems early, and be candid about which numbers are documented and which are estimates. Buyers price known risk; they walk away from discovered risk.
You do not need to complete this list to talk to us. Start with what you have — a rough sense of income, site count, and utilities is enough for a first conversation.