Self Storage Facility 50+

• 50+ relates to the total number of ‘units' available for rent
• Higher occupancy properties typically focus on smaller unit sizes (i.e. 5x5 or 5x 10) with some properties having the capacity to ‘adapt' unit sizes based on modular construction utilized
• Over 70% of self-storage properties are ‘owner-operators' and as such qualify for both conventional and SBA financing programs
• All properties should have limited access privileges for tenants to minimize risk of loss
• Typically a very simple business structure of either concrete block, concrete tilt-up or metal (wood frame are less desirable due to wear and tear)
• Month to month leases is the norm in the industry
• Facilities may offer additional ‘space' for rent in the form of RV Parking
• Vast majority of properties are single story, however, urban locations can be multiple story for concentration purposes
• Older properties are normally ‘not' climate controlled
• Properties are normally located within a small radius of high density housing
• Newer properties are almost always climate controlled with higher end security features for tenants
• Low operating costs for ownership
• Some properties have on-site live-in management
• Majority of properties are ‘independent' with limited number of franchisees
• Modular storage businesses (i.e. Pods) do not qualify as a self-storage facility, but as a warehouse only