Boosting Revenue with Moving Truck Rentals – Part 2
In our previous article, we touched on the benefits of having moving truck rentals available at your facility. Let’s continue the discussion and cover a few more points that should be considered in making such a big decision. The financial health of your business really needs to be your top priority when you are trying […]
Opportunity Zones: An Investment Opportunity With Tax Benefits
Understanding the Benefits There are several benefits to investing in an OZ. The first is tax deferment. Investors can defer the tax on any prior gains invested in a QOF until the date on which the investment is sold or exchanged, or Dec. 31, 2026, whichever comes first. The new law gives you 180 days […]
Opportunity Zones: A Self-Storage Investment With Great Tax Benefits
By now, most active investors in real estate have at least heard the term “opportunity zone” (OZ) even if they aren’t completely clear on what it is or the advantages this incredible program provides. An OZ is an economically distressed community in which new investments may be eligible for preferential tax benefits. These areas have […]
Self Storage Is A Perfect Investment – Recap
We have taken the past 10 blogs to discuss various reasons why investing in self storage is such an incredible investment sector. Let’s take this final article in the series to recap what we learned. Penny #1 – “No trash, no toilets” – This, I think, is one of my favorite points! With self storage , […]
Self Storage – As Reliable as the Sun – Penny #10
Real estate investing is not something earth shatteringly new, right? It is something that has been done in one form or another since the beginning of humankind. In our final penny, #10, of “Why Self Storage is a Dime”, we are going to chat about how self storage is a stable market to be investing […]
Why Self Storage is a Dime Among Pennies
Picture this. You are walking down the street and you see a dirty penny on the ground. Trampled on by hundreds of other pedestrians. Is it going to stop you in your tracks? Will you go out of your way to go pick up that single penny? Probably not. What if it were a 1874 […]
4 More Easy Ways to Improve Your Storage Facility’s Impact on the Environment
In a previous article we talked about how going paperless, working with a LEER-contractor, and adding landscaping can go a long way in making your facility more eco-friendly, which in turn will bring in more customers. Let’s touch on a few more ways you can do this! 1.Make Use of Energy Star Products These cover […]
Color Theory and the Self Storage Facility Owner
Have you ever tried to envision what life would be like if it was in black and white? Watching tv with my grandparents always got me thinking about what that would be like. No admiring the way the colors of a rainbow run together. No determining how juicy a strawberry will be just by looking […]
Ask Scott: Negotiating Zoning Problems
“We just got shut done on a Self Storage Project in a rural community. The land use plan basically talks about exclusively agriculture only and no commercial use. How does a person begin to navigate getting approval for a self storage building? We have made it blend in with the surrounding farmland by modeling it […]
3 Easy Ways to Improve Your Storage Facility’s Impact on the Environment
Marketing a self storage facility today can be a bit of a challenge! How can you make this easier on yourself and ultimately make your business more successful? By making your facility more environmentally friendly. Consumers love supporting companies who are going green and who are making an effort to be environmentally-conscious. It doesn’t matter […]
Tips for Combining Households
There is no refuting that combining two households is an exciting time and step in life. This time, though, can also bring its fair share of stress. Don’t let disagreements dampen your enthusiasm! Take heed of the advice below when starting down the path of combining your lives together. Ditch the Clutter Making yourselves a […]
Ask Scott: “On Demand Storage”
“Curious if you have researched this new business model of “On Demand Storage”? I noticed UHaul appears to be going “all in” on the U-Box. In Texas we have seen Call Box Storage open up in DFW, Austin, and Houston. There are several others that appear to be off and running – Makespace, Stash Storage, […]
When the Worst Case Scenario Happens
There are horror stories about self storage facilities all over. You read them in the paper, see them portrayed on tv shows, and maybe have even experienced some yourself. Have you ever thought to take a step back, though, and make a plan on what to do if you find yourself and your facility in […]
Ask Scott: Equilibrium Sq Ft per Person in Rural Areas
“I have read that for determining equilibrium a good rule of thumb is to use an avg of somewhere between 7-8 sq ft of self storage per person within the radius you are analyzing. However we all know each market is very different. In analyzing small towns in more rural areas what number do people suggest […]
Manage You Self Storage Investment with Care
If you are the owner of a self storage facility, you are one of the many who helped to break some industry records! With so much competition popping up, passive management is no longer an option! If you want to survive the boom in the industry, you are going to have to dig your heels […]
Ask Scott: Getting Started in Self Storage
“Hey Scott! I’m looking for some ideas on how to get started. I listened to a few BP podcasts yesterday on self-storage, launromats, RV parks, etc. but was hoping to get a bit more granular on specific steps one should take in order to: explore the market (resources for this – where to look, etc.) find prospective […]
Where To Find Self Storage Facilities For Sale
Okay, so you’re convinced that you want to look at buying an existing self-storage facility, but how do you go about finding suitable business opportunities? Well as we’ve already discussed, with all of the advantages that self-storage facilities offer, this makes it difficult to find a number of facilities for sale compared to other property […]
Things To Know When Starting Your Own Self Storage Business!
It’s a start! A first-time self-entrepreneur in the industry of self-storage business has understandably a lot of questions in mind. Is there a guarantee that I will profit from this? What are the chances that this is not a dead-end industry? What are the business’ limitations? Obviously, a first-timer has their own jitters as they […]
What Does A Self-Storage Business Manager Really Do?
Self-storage is a business where a tenant rents out a unit or space from a storage facility for personal or professional use. He can access it anytime while he’s renting it. The self-storage business manager is the person who runs and operates a self-storage business facility. On-site self-storage business managers (living within the facility) and […]
Insurance Programs for Self-Storage Tenants
People store their belongings to self storage facilities for various reasons. However, some people who rent the units assume that the self storage owner will automatically provide insurance for every belonging that they store. It is true that self-storage facility providers are responsible for ensuring that the clients’ possessions are protected. On the other hand, […]