Self-Storage Property Management
When most people think of investing in real estate, they think of large apartment buildings (or small ones if you are just starting out). They may also think about commercial properties filled with stores and service centers. However, more and more people are starting to invest in self-storage facilities.
Here are some reasons to invest in self-storage facilities:
- Useful. More and more people are using a storage facility. Though many people plan to use one for a few months while they move, many people find reasons to rent one (or more units). They simply can’t part with their precious things.
- Cheaper to buy. Self-storage facilities may be cheaper to buy (and easier to find) than other real estate investments. Not many people have realized the income potential on a nice place so there is not much competition when it comes to purchasing property.
- Low-maintenance. Storage facilities are pretty low-maintenance. It is not hard to clean out a unit before it is ready for the next one. You don’t have to worry about repairing damage like you may have to with apartments and doing expensive renovations to find the next tenant.
- Low turnover rate. Despite the fact that most people only plan on using a facility for a short time while they move or go through their things and decide what to keep and what to get rid of, most people put things in a storage facility and continue to rent for several months (if not years).
Because self-storage facilities are gaining in popularity, today might be the right time to think about investing in your future. By getting started now and marketing it well, you can get a jump in over your competition.
Contact us to find out how we can help you grow your self-storage business and take it to the next level!