Updated over 8 years ago on . Most recent reply
Self storage facilities
What do you all think about buying self storage buildings? There would be no tenants complainig about leaky anything and i imagine eviction is simply cutting off the lock and disposing of their stuff. The only down side is you have to put someone on payroll to be there during the day to fill out rental contracts and answer questions. However i would think that a creative owner could automate some of that. Just want some opinions of self storage ownwership especially from those of you who have experiance in this business. Thank you as always.
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YOu are right that storage is AWESOME. While its easier to deal with non-paying customers than it is to deal with delinquent tenants, its a little more complicated than you described (though not much). I own two facilities and LOVE IT! Storage has truly changed my life. I have one part time manager to run one of my facilities and I self manage the other one doing all move ins by appointment. I spend about 10-15 hours per week to operate the roughly 50,000 square feet of storage that I won. Check out my little blog here on BP called, "All Things Self Storage". I think you will find it to be a good intro to the business!