Updated over 5 years ago on . Most recent reply
- Rental Property Investor
- College Station, TX
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Rent increase: Apartments vs Self-storage
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.
- Gregory Schwartz
- [email protected]
- 443-812-0357
Most Popular Reply
Just one of the THOUSAND reasons I love storage. Multiply that increase by the 150-300 plus units and that facility and it really starts to get exciting!