Invest smartly, Invest in Self Storage

When it comes to investments, many of us think our choice is between shares and real estate, but there are other possibilities.

For example, real estate is not just about residential houses and units, but commercial property too, and one area you may not have thought of is what is often called the ‘stuff market’: Self Storage.

It’s an area of real estate where you are never likely to run out of rental demand – if you plan wisely – because there will always be people who need space for their ‘stuff’, whether they be home owners or renters, or commercial operations.

While not without pitfalls, Self Storage facilities, if done well, are a very tangible investment and one which can generate some income for you right from the start as well as appreciating in value over time, which will be a very appealing outcome when it comes time to sell.

They’re also easier to manage – in most cases – than residential properties, or many other forms of commercial property but, as always, though, the first part of the investment is the best one, and that means engaging the services of Self Storage experts to guide you through the process.

For starters, you may not have the funds in your bank account to start the ball rolling, but a good Self Storage expert will be able to advise you how to invest in an existing facility, or get a loan to develop your own project.

Those same experts will also be able to bring you up to speed on what government requirements you will need to meet. These can change often and could affect the facility you are looking to buy into, or develop.

Consider issues such as fire or flood security and protection and rules on widths of driveways or depths of foundations. If local building codes have changed recently, you need to know before you get in too deep.

You also need to be aware that Self Storage is just as much subject to changing trends as any other form of building design. In this case, though, ignoring those changes can have a serious effect on your bottom line.

Rarely, these days, do you see the old barn-like buildings that typified storage facilities of old. Many sites feature multi-storey buildings with lifts – thanks to the increased cost of land – with different sized units, more insulation and climate control all aimed at attracting a wider range of higher paying customers.

If you’re investing in a facility, either directly or indirectly, you want to be sure it will attract customers. As with any real estate investment, that means finding the best position, as well as using good signage, making the site look attractive to encourage potential renters to come inside to check it out, and ensuring it is always clean, tidy and well maintained, with good lighting and top-notch security.

You could start with a vacant block or an already vacant building. There is no rule that Self Storage has to be built from scratch. Your Self Storage consultants can help you decide if a vacant building could be converted if there is good demand for such a service in the area. Don’t rule out the possibility of re-developing such a property if it ticks all the boxes – after all, it may already have many features in place that will make it work extremely well as a storage facility.

So, if you are considering an investment property, why not have a look at Self Storage? It may be the start of a very successful future.