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Fact vs Myth: Self-Storage
Self-storage facilities are dilapidated because maintenance is expensive.
Facility maintenance costs are lower than other industries. There are few installments which require regular maintenance. Within a storage unit, there is no carpeting or plumbing to maintain.
Exterior Maintenance is little more than…
Self-storage has a high risk of liability.
Taking Reasonable Measures (Fences, Cameras, Security etc.) Home Owners (covers 10% of personal property anywhere in the world) & Renters Insurance Hiring Honest Employees…
Stability in self-storage, as an investment, is essentially guaranteed
Self-storage is recession proof, as people move out of their houses and into apartments; they have needed belongings they simply do not have room for but cannot part with.
Demand for self-storage is growing, one reason is that Baby Boomers are downsizing. They and their families need a place to safely store belongings for their future.
Studies have shown the average person needs 7sqft. of additional storage space. In these numerous cases the answer to this problem is self-storage.
Dealing with tenancy is a relatively hassle-free
There is no lengthy eviction process and little risk of costly damage from an irresponsible tenant(s).
Operating a self-storage facility is difficult
Daily operation of a facility include tasks like: Answering the phone, physically manning the property daily to be accessible to current and prospective tenants, taking payments etc.
Buying and Selling
Now is a great time to buy, sell and/or develop a self-storage facility
Current interest rates are perfect for investing, combine that borrowing power with high cash-on-cash returns; you will find there are few types of investment with such high profitability.
Demand is high and is projected to continue growing!
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109 Circle Ln, Knoxville, TN 37919
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TN Real Estate Firm License #262042