Updated 3 months ago on . Most recent reply
Ideas on adding storage unit to my property?
I have a fourplex where all the units have limited storage, and I'm looking to possibly add separate storage units on site. I was wondering if anyone has any advice on how to start that process and/or any tips that can help me? Thanks
Most Popular Reply
Adding a storage room? Hmmm
What I would like to look at first is, does adding a storage claoset or spare exterior storage add value to the property.
The only thing I can think of is Hoarders and people leaving an entire storage behind at move out. I have cycled at least 100 Move Outs and would say that building a store room out of 2x4 over a cement slab with a roof is going to cost and the long term value is seriously diminished if there is any to begin with because... Tenants abuse everything.
My long/short answer would be, Don't add storage
No immediate value or equity, and great Liability.