Self-storage is considered to be an appealing class of assets by many just because of its great income potential accompanied by low overhead, it has less construction costs as compared to other Commercial Real Estate (CRE), it also needs lesser management. Small sized businesses are generally self-sufficient and need minimal management.
In this type of property tenants generally do not reside on it. Thus there are lesser emotional components attached to it and lesser building components which may go wrong. The owner receives leases each month and can secure a rental rate which increases faster.
There are a wide range of self-storage facilities which you can own. As per surveys, the per capita revenue generated for self-storage industry is in billions of dollars. There is an increasing demand for storage spaces, which will increase more with the passage of time and change of generations.
Reasons to Own Self-Storage
The main reasons for owning a self-storage are :
- Large income potential with cash flow.
- Low construction and maintenance cost
- Less overhead expenses
- These facilities are generally self-sufficient which requires minimal management
- Month-to-month tenancy helps in increasing rental rates faster.
- There is a huge increasing demand for this industry
Self-storage investing is not new; it has been around for decades, but in recent years it has become much more popular among investors. You can contact left field investors to have a better idea of this kind of investing. Investors are seeking different types of assets in this competitive world and high priced market, thus they are choosing storage as an option.
If you want to invest in self-storage. Do Not invest into it just because it has become popular and people are earning big sums of money from them but invest into them only after knowing all of its pros and cons. Do a bit of research before investing as to which investments are good for you or bad for you and do not try the hit and trial method. ATM investing is another significant way of investing money according to, left field investors