What do self-storage tenants want? That’s the million-dollar question, and if you can answer it, you’re well on your way to keeping your self-storage occupancy high and your income strong as an owner-operator. There are a few, specific things that are common requirements among those seeking self-storage. Let’s discuss what tenants want right now.
- The right size unit
- 24/7 access
- Security
- Online, seamless transactions
- Boat & RV storage
The right size unit
Potential tenants are looking for the right size storage unit to meet their needs. They do not want a unit bigger than they need because they don’t want to spend more than they need on space they won’t use. The most popular size storage units today are 10×10 offering 100 square feet of storage space. This space can accommodate approximately the belongings that fit in a 2-bedroom apartment. This is popular among all renters, but especially in college towns where students need storage for the months when they are home for the summer. The average cost for this amount of storage is around $110.
24/7 access
People want access to their items. 24/7 access is preferred among renters, so many are willing to pay slightly more in rent to have access to their storage unit at all hours. While some tenants may be able to do without 24/7 access, this may be a factor in retaining them if they find a better deal at a facility where they can access their unit whenever.
Security
Renters want to feel confident that their belongings are secure. Those shopping for self-storage will search for up-to-date technology and equipment that is monitored via live-stream. One investment that self-storage owners should consider is updating security equipment and monitoring.
Online, seamless transactions
Customers are looking for the path of least resistance when finding storage solutions to meet their needs. Today’s tenant wants to find the best price, the best location, and what’s available online. Once they have located it, they’re ready to sign the contract and complete the lease agreement – all from the comfort of their own home. Self-storage owners should convert their contracting process to an online system while offering an in-person experience for those who still prefer that.
Boat & RV storage
In areas such as Florida, where one or more bodies of water mean plenty of recreational activities, vehicle storage is a popular feature on self-storage properties. With over 922,000 registered boats in Florida, self-storage owners must consider adding this lucrative offering. If a self-storage business has land to expand, consider adding boat and RV storage to accommodate the growing demand for this type of storage. Make a few phone calls to competitors with this type of storage and you will find every space booked with a waiting list.
The three types of boat and RV storage are outdoor, covered, and indoor. Outdoor storage space is the most affordable. Covered storage is often preferable since there is additional protection against the elements. The most expensive is indoor storage, to protect from both weather conditions and theft. Renters will be interested in all three types, especially if the location of your self-storage property provides convenient access to meet their needs.
Coastal Storage provides solutions.
Coastal Storage is a self-storage brokerage service with decades of experience in the self-storage industry. Coastal Storage is the Argus Self-Storage Network Affiliate for Florida (excluding the panhandle) and Georgia. This partnership offers access to properties available only through Argus. Our dedicated self-storage experts work to provide solutions for your growing self-storage business. Call us today at (904) 591-0140 to grow your business or expand your investments.