Category Archives: RV Sales Reach Record Levels

Where Can You Store Your Boat & RV?

Issue 92 – RV & Boat Storage…Where?

Introduction…In the United States, 11,870,000 recreational boating vessels need storage.  Add to that number 8.900,000 recreation vehicles need storage. That totals 20,770,000 recreational items that need to be stored for the off-season.

RV And Boat Sales Growing Self-Storage Demand…RV The research, conducted by Dr. Richard Curtin, RV industry analyst, and director of consumer surveys at the University of Michigan, reveals the number of RV-owning households has grown to a new peak of 8.9 million households, up from 7.9 million in 2005. According to the report, 8.5% of U.S. households now own RVs, up from 8.0% in 2005.  Annual U.S. recreational boat sales have averaged 550,000 per year since 1990.

So, where do the 20,770,000  households store their recreational vehicles and boats?  Most of the larger motorhomes, larger travel trailers, and boats can’t be stored in city residential areas.

The self-storage industry has recognized and met this demand.  Many properties have built larger storage units to accommodate the largest motor-coach.

What’s next… We have purchased a 64,000 square foot boat storage facility.  You can find it at www.wylieboatrvstorage.com.  We will have three units available at the end of January after we auction the abandoned property in those units.  Other than that, we are 100% leased,  This experience has been better than expected, so we are looking for another similar facility.

Drop me a note if you want to get on our potential future owner’s list.  bill@billmoist.net

What Baby Boomers Retiring In Droves Means For Investors

Introduction…More and more baby boomers begin the new year with nothing on their schedule but plans to golf, travel, and spend more time with the grandkids.

The number of Americans aged 65 or older without a disability that aren’t in the labor force rose by 800,000 in the fourth quarter of 2016, marking the resumption of a long-standing trend: the exodus of their generation from the work force and into retirement.

Whether a larger share of senior citizens had previously been incented to remain in their jobs by higher wages or by a need to keep working in order to rebuild their nest eggs after the financial crisis is still an open question. But the recent non-farm payroll reports affirm that the secular trend of rising retirements can only be delayed for so long.

“The RV (recreational vehicle) has replaced the rocking chair, and the whole notion of retirement has changed in the last 10 years,” says Ken Budd, executive editor of AARP magazine .

There are two drivers, according to journalist Samantha Dunn, who’s written about RV retirees for the website Next Avenue. First, wireless technology means you can easily stay in touch with friends and family even while living on the road.

Then there’s the financial angle. Today’s retirees have long life expectancies. Living on the road for a year or five can be a way to spend less than hanging on to the big house or moving into a service-heavy retirement community.

“Even if you buy the $100,000 RV rig, it’s cheaper than dealing with an oversized house and taxes and all the things home ownership entails,” Dunn says.

Maybe the rising number of Americans retiring and the increased in RVs and boats has contributed to our newest property acquisition being 95% leased for the last 3 years and the closest competitor to be 100% leased.

We love RV and boat storage for several great reasons:

  1. These renters tend to be long term renters, at least until the sell their RB or boat
  2. These renters pay their rent on time as no one would let a RV or boat be auctioned off to pay a few months storage rental
  3. These renters are easy to manage as they appreciate a secure storage for their prized RV or boat
  4. These affluent renters rarely visit their storage units

Click here to watch the video What Baby Boomers Retiring In Droves Means To Investors.

Conclusion…Providing needed services and products to the Baby Boomers as they age, has always been very profitable for the providers.  We see the next wave in providing storage for their new RVs and boats acquired as they retire.

RV Sales Driving New Self Storage Class

motorcoachstorage

RV Sales Growing Self-Storage Demand…RV The research, conducted by Dr. Richard Curtin, RV industry analyst and director of consumer surveys at the University of Michigan, reveals the number of RV-owning households has grown to a new peak of 8.9 million households, up from 7.9 million in 2005. According to the report, 8.5% of U.S. households now own RVs, up from 8.0% in 2005.

“Today’s record RV ownership levels reflect the enduring appeal of the RV lifestyle despite recent economic challenges,” said RVIA President Richard Coon. “I expect RV ownership to continue growing as more and more people learn how RVing is a cost-effective and fun way to spend time outdoors with family and friends.”

So, where do the 8.9 million  households store their RVs?  Most of the larger motorhomes and larger travel trailers can’t be stored in city residential areas.

The self-storage industry has recognized and met this demand.  Many properties have built larger storage units to accommodate the largest motor-coach.

What is next..the new self-storage class…

The new class of self-storage for RVs includes drive through buildings long enough for the Class A Motor-coach pulling a boat and an auto.  In addition basic maintenance, fueling, and cleaning is available.  The owner can drop off all his rig and it will be ready when he or she returns.

This facility also may include a motor-coach high-tech community next door as well as traditional self-storage.  The result will be all the RV owner needs for the care-free lifestyle they desire.