Renting rooms with no lights, toilets, showers, or kitchens appears not to be the most exciting. But, when you look at the dynamics of the Self-Storage industry’s growth today, it may be the most exciting of all the real estate market segments.
I attended a networking group in Colleyville, Texas hosted by a real estate broker. She recommended that if you were planning on selling your house in the near future and needed to put extra stuff in storage, then you better lease the storage unit right away because it might not be available when the you need it.
Here are just a few headlines from today’s Inside Self-Storage news:
- New Self-Storage Facility Slated for Development in Edwards, CO
- Affiliate Self-Storage REITs of SmartShop Asset Management Expand Canada Holdings
- Former Home & Garden Building to Become Self-Storage in Greenville, SC
- Self-Storage Construction Spending Breaks $1 Billion in 2015
- U-Haul Converts Former Flooring Store to Self-Storage in Irondequoit, NY
- UHaul Transforms Abandoned Dairy to Self-Storage in Sioux Falls, SD
- Uncle Bob’s Self-Storage Plans Facility Expansion in Raleigh, NC
Why all the excitement in Self-Storage today. Most facilities are nearly 100% leased with increasing rental rates and when new properties are opened, lease-up is at all time record speed.
The demand for new Self-Storage is so strong, that it is driving developers to look for existing commercial or industrial buildings to convert.
Click here to watch the above video.
In conclusion…One of my personal reasons why Self-Storage is so exciting is that it may be the easiest of all types of real estate to manage and lease. This is a quality of life choice to participate in Self-Storage ownership today.
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This has been Dr. Bill Moist, MS, CPA speaking “It Only Just Appears Not To Be The Most Exciting.”