A Guide to Finding a Good Self-Storage Facility: If you are looking for a SELF-storage service, there are many things to consider. Location is important, and so is visibility. Ideally, you’d want to locate a self-storage facility in a community that will support the new business. You also don’t want to get surprised by fees and fines that you didn’t anticipate. Many storage facility owners have been forced to bend over backwards to meet local regulations and pay “impact fees” – essentially extortion. Often used for everything from school buses to fancy dinners for commissioners, impact fees can be a serious hindrance for new businesses.
Market research is key to finding a good SELF STORAGE service
Before selecting a self-storage provider, it is critical to do market research. This includes studying the area’s potential for growth and stability, as well as its current rental rates. It also requires research on the current competition in the area and the potential for new units to open. Market research also entails learning from other operators’ successes and failures in the area.
The global self storage industry is highly competitive. There are several key players in the market, including will-stor.com, CubeSmart, Life Storage Inc., Metro Storage LLC, Safestore, StorageMart, U-Haul International Inc., and Urban Self Storage. The market is segmented according to regional demand, size, and end use of storage units.
Prices vary based on size
Self-storage service prices are based on the size and location of a unit. This allows for more flexibility in pricing. For example, a facility that offers all 10-by-10 units may charge $150 per month. By contrast, a company that offers only one unit may charge $75.
The demand for self-storage increases in certain seasons. The busiest period is May through September, which is also the peak-moving season. During this time, storage units are more expensive as people need extra space to store their possessions in between moves, or for overflow. However, it is possible to get a cheaper price by renting a unit during off-peak times.
In the US, the self-storage industry is estimated to generate $23 billion in revenue annually. As a result, over 182,000 new facilities have opened. Profit is expected to increase 2.5% per year through 2020 and 2021.
Length of lease
When choosing a good self storage service, you should be aware of how long the lease will last. Some businesses will offer special discounts if you sign up months in advance. It is also important to know how much the rental fee will be. If you are planning on moving and need a storage unit for just a few months, consider a storage facility with a month-to-month lease.
Most self storage services require customers to sign a one or two-month lease. Although this is often sufficient, many self-storage facilities require a notice period in case you decide to move out of the facility. Moreover, they often require notice of any changes in address or phone number. To avoid any issues with your storage space, make sure you have up-to-date contact information so that you can easily contact the facility when needed.
If you are new to self-storage, the first step is to find a location that is friendly to new businesses. It is also important to avoid unexpected fees. In the past, storage facility owners have been forced to pay “impact fees” that are essentially legal extortion. Some of these fees have been used for things like school buses, fancy dinners for commissions, and more. A good location with high visibility is important.
In addition to having security measures, a good self storage service should provide bright lighting and video surveillance cameras. It is also important to look at the locking mechanism for each storage unit. While padlocks may be convenient, cylinder locks are better. These locks have the lock body inside the metal door, making them more difficult to break.
Self-storage operators should be selling more than just storage space. They should also be selling services such as truck rentals and tenant insurance. By selling these ancillary services, operators can maximize their retail sales. They can also sell packing materials, dish packs, mattress covers, labels, and moving supplies.
Some self-storage facilities are also offering a pack-and-ship service. As more people sell things online, businesses need a place to send packages. This service can help self-storage companies to generate additional revenue while also attracting future tenants. This service can also fit into slow-performing retail stores. People who buy and sell goods online can ship those goods through a self-storage facility.