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Gregory Schwartz
Agent
  • Rental Property Investor
  • College Station, TX
789
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720
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Rent increase: Apartments vs Self-storage

Gregory Schwartz
Agent
  • Rental Property Investor
  • College Station, TX
Posted Jul 3 2020, 09:13

I have a storage unit. I pay $69 / month in rent. And it is stuffed with my junk. 

(I downsized when I moved from my 1,600sf home to my 900sf house-hack apartment)

Yesterday I received a notice of a $10 per month rent increase. No big deal, $120 per year is like 2 days of driving for Uber. But then I grabbed my handy calculator... that's a 14.5% increase! If I tried to do that in one of my apartments my tenants would drop me like a bad habit. "Mr. Tenant this is your notice that I will be raising rents from $800 to $915". HAHA ain't no way.

On a percentage basis, you can more easily increase rent on self-storage as compared to an apartment. 

So who's looking to jump ship and buy a self-storage lot with me? What are your thoughts on this? I'm sure I'm oversimplifying the process but damn it looks tempting. 

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