Are you looking for a new investment that has grown exponentially in the last 25 years?
In that case, you should think about self-storage investing! Not only are you likely to make money, but there are also other benefits of self-storage investing as well – this article will list a few.
Low Operational Expenses and High Returns
One of the biggest reasons you should consider self-storage investing is the low operational costs of the industry. Once a storage facility had been built, the owner doesn’t have to do much maintenance compared to conventional buildings.
Low operational costs mean that you can get a much higher return on your investment than you would with other businesses. You can expect a self-storage facility to offer a similar return to multi-family apartment buildings.
One of the greatest benefits of self-storage investing is that they’re very simple to construct and look after. This is largely because they have minimal infrastructural requirements in comparison to other types of building.
For example, storage facilities don’t require plumbing of any kind, and they don’t necessarily require air conditioning or heating either. All a good self-storage facility really needs is lighting and a security system.
Of course, the less infrastructure that’s required, the more money you can potentially make on an investment.
Self Storage Investing Makes Sense in Any Economy
A good investment needs to be resilient to changes in the market, and it doesn’t get much better than self-storage investing. In times of economic downturn, lots of people need self-storage units as they get evicted from homes or businesses.
On the other hand, when the economy is booming, people will move into bigger homes and commercial locations. This means they’ll need storage space while they’re in between properties.
As you can see, there isn’t really a situation where there won’t be any demand for self-storage facilities. This makes it a great investment.
Tenant Rights Are Less Complex
One issue with investing in any kind of rental property is dealing with problematic tenants. Tenancy laws mean it can be very difficult to evict someone who causes you problems.
The good news is that dealing with these kinds of issues are much more straightforward when you’re running a self-storage facility. This means you will run into fewer problems with self-storage investment than you would with similar endeavors.
If a tenant doesn’t pay for their storage space, you can simply auction off their items to make up the bill. This is much easier than doing an eviction of tenants in an apartment building.
A Solid Investment
As you can see, self-storage investing is a solid choice for an investment. Of course, every investment you make is somewhat of a gamble, but self-storage is relatively low risk.
If you’re ready to take the first step in investing in this kind of business, get in contact with a storage holdings company.