what are market conditions for self storage facilities?

Asked by Zamorad, Boise, ID Tue Jun 2, 2009

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21
89jackmoore, Home Buyer, New York, NY
Wed Oct 21, 2015
That is probably going to have a different answer depending on where you live. If I were you, I'd ask around a little bit, go see some professionals. Once you have some info from them, start watching financial journals. Take a look at current stocks and keep an eye on them for a while. Then when you have enough data you can look at it and make a decision. http://www.hollywoodselfstorageaugusta.com/storage-rates/
0 votes
bengibson4113, Both Buyer And Seller, Salt Lake City, UT
Mon May 11, 2015
Zamorad, great question about what are market conditions for storage units. Have you had the chance to speak to local storage unit professionals? I'd imagine they'd be able to help answer that question. It seems like it would change state to state. http://www.americanstoragesalem.com/units_facilities/
0 votes
Jim Olive, Agent, Key West, FL
Wed May 6, 2015
As long as we have hoarders, storage units will thrive, and we'll have hoarders as long as the economy stays strong. It's going to take a 1930's type depression to kill that industry...
0 votes
EdwardThirlw…, Home Owner, Karnack, TX
Wed May 6, 2015
In my personal opinion, self storage will always be in demand as more people are beginning to trust storage units with their belongings now. Furthermore the monthly fees are so affordable and the facility is very accessible thus making the industry very attractive indeed.
0 votes
djennifer009, , Salt Lake City, UT
Mon Apr 27, 2015
Right now they're good. It depends on your area, but I would say the market is promising overall. For your location, I'd recommend locating around a transient population-- college students, apartments, etc. That way people will be in the market for extra storage. http://www.simonsonministorage.com/mini_storage_units.cfm
0 votes
Jackson Will…, Home Buyer, Provo, UT
Mon Apr 13, 2015
I think the market for self storage will always be fairly high. People inherently will always want more and more things. If they satisfy that desire, it will result in them having too much stuff to keep in their houses. Storage units are a way for people to keep those things without having to take up space in their house with it. If people stay like this, it won't change. I personally don't see people changing much.
http://cambridgeselfstorage.com/belmont
0 votes
Wally West, Home Buyer, Provo, UT
Tue Jan 20, 2015
I would say that the market will vary depending on where you are, but I would have to say that the market is doing very well. I needed to use a storage unit when I moved into my new house. We wanted to keep things out of the new house temporarily while we got things organized. I actually think that we will be keeping the storage unit for a while because we like not having that junk taking up space in the house.

http://www.getepicstorage.com
0 votes
I'm pretty sure that it depends on your area. I would call around to local self storage facilities and see what they say. They should be able to help you with everything you need. Good luck and I hope everything works out for you! http://www.storitestorageak.com/self-storage
Flag Thu Jan 22, 2015
Joey Constan…, , Anchorage, AK
Thu Jan 15, 2015
I'm not sure what the market looks like for self storage. I've got a couple friends that actively use their self storage units. From that information, I can assume that the market is quite good for it. It wouldn't be a bad time to rent a storage unit, provided you have the items to fill it. http://www.countryhillsstorage.com/new_page_5.htm
0 votes
Do you know if it is a good time to buy one? I don't know how storage facilities work, but I need one for the long-haul. It might be better to buy than rent, but I'm unsure.
http://www.foothillsstorage.net/
Flag Wed May 6, 2015
Joey Constan…, , Anchorage, AK
Thu Jan 15, 2015
I'm not sure what the market looks like for self storage. I've got a couple friends that actively use their self storage units. From that information, I can assume that the market is quite good for it. It wouldn't be a bad time to rent a storage unit, provided you have the items to fill it. http://www.countryhillsstorage.com/new_page_5.htm
0 votes
I think it depends on the area your in. I would suggest calling around to local storage facilities and seeing what their prices are. This should give you a good idea of what the market looks like and what you're going to be paying. I would definitely suggest doing this to help figure out what you're looking for. http://www.mybulldogstorage.com/sizes
Flag Thu Feb 19, 2015
Mark Leach, Home Buyer, Pine Bluff, AR
Thu Dec 11, 2014
I know that there are a ton of storage units available in Meridian. If you are asking from a consumer stand-point, prices vary month to month, but they are generally around $100. If you are asking from a business standpoint, there is almost always a need for storage units.
Mark Leach | http://www.cloverdaletenmilestorage.com/about.html
0 votes
I think it depends on where you live. Different areas could have different conditions. If I were you, I would call around to different facilities and see what they're like. This will give you the best idea of what you're looking at. http://www.rentashed.net.au/rent-a-shed-storage-southport/
Flag Fri Jan 2, 2015
Calvin James, Home Buyer, Orem, UT
Sat Nov 15, 2014
Are you planning on opening your own facility or are you looking to rend a shed? I couldn't tell by your question. I don't know anything about starting a business but I do enjoy and trust self storage facilities. I have been keeping some of my extra junk in one for years! http://www.ninemilestorage.com/our-units
0 votes
I have too, Calvin. I really love having access to my extra things whenever I need it. I bought a boat a few years ago and I realized that I had no room for it in my backyard. Keeping it in a storage unit with a few others things was a really great idea. I wouldn't do it any other way. http://www.yellowheadstorage.ca/self_storage_bays.html
Flag Mon Nov 24, 2014
Vilma Teodoro, , Provo, UT
Fri Nov 14, 2014
There are always good storage units to be found and many different options available. Depending on where you live, there could be seasonal promotions, but I think that storage unit facilities are usually pretty standard and constant. Make sure to visit the actual facility to see if you like it, because I have definitely liked some units more than others in my experience.

http://www.middletownstorage.net
0 votes
Derrick Sly, Home Buyer, Albuquerque, NM
Mon Nov 10, 2014
I've found that the market is always good. Prices vary from place to place but usually you can find a good one. I think that anyone with a need for one can find one. They'll fit to your budget.
http://www.stor-king.com/Storage_Units_Upland_CA.html
0 votes
I would say that it depends on your area and the storage facility that you're looking at. I would suggest calling around to the local facilities and seeing what their prices are. They should be able to help you figure out what the market looks like in your area and help you know where to go. I would suggest doing this soon before the market changes too much! http://www.storagestation.ca
Flag Wed Mar 18, 2015
John Connor, Home Buyer, Kansas City, MO
Thu Oct 30, 2014
I have found that it depends on where you go and what your provider will allow. I think that if you ask around you will find somewhere that will help you out. There are always places that will. http://www.santamonicaministorage.com
0 votes
I think it depends on your area. I would suggest calling around to local self storage facilities and seeing what their markets are like. This should give you a good idea of what you're looking at and what to expect. It can also help answer any other questions you may have. I wish you the best and hope you find what you're looking for. http://thestorageshed.com/index.html
Flag Tue Feb 10, 2015
I think it depends on your area and where you are looking to rent a storage facility. I would call around to the self storage facilities in your area and see what they're average prices are. This will probably give you the best idea of what the market conditions are like. Good luck and I hope everything works out for you! http://www.budgetrent-a-space.com
Flag Mon Nov 10, 2014
It definitely seems like this is something that is dependent on where you go. Everywhere you go is going to do things a little bit differently. I would also suggest asking for references. Your family and friends should be able to help you find the best self storage company for you.

Mary Jane | http://www.asentryministorage.com
Flag Fri Nov 7, 2014
Mark Leach, Home Buyer, Pine Bluff, AR
Mon Oct 20, 2014
I am thinking about getting a self storage unit myself. I am just wondering how big they are and how much they cost on average? can you access them 24/7? Any thoughts?
0 votes
Wally West, Home Buyer, Provo, UT
Mon Oct 13, 2014
I would imagine that all you needed to do is to check some local places and see how much they are charging. It is going to vary on location size and the quality of the storage unit itself. But I would have to say somewhere around the 100-200 range.

http://www.nationalselfstorage-denver.com
0 votes
I think it could be a good idea to invest in storage facilities. A lot of people need temporary storage units, but they end up keeping them long term. It's a good idea, but it will definitely be a lot of work. http://www.jpgselfstoragemb.com
Flag Sat Jan 3, 2015
brad.hooper76, Home Buyer, Chicago, IL
Mon Sep 15, 2014
If you are interested contact a commercial real estate agent. They will be able to do some research for you and find out what the market is. Are you interested in buying one or selling a self storage facility? People will always need a place to store all of there extra stuff so look into it for sure. http://totalstoragemanitoba.ca
0 votes
Can real estate agents really help you find out what the market is like for storage facilities? I don't really consider a storage unit as being real estate material, but I may have to try that out. I just want a small unit just to keep a few boxes that I don't really get into so I have space for things I use all the time.

Zach | http://www.costlessstorage.com/
Flag Mon Oct 13, 2014
thedeanreese, Home Buyer, Dundee, IL
Tue Aug 5, 2014
I agree. I would look around at different facilities to try to get a general idea. I would even possibly call and ask what their prices were like awhile ago to see if the market is better, worse, or the same. That way, you can get a general idea as to what you're looking at.

Dean Reese | http://ministoragestable.com
0 votes
I'm going to have to agree with Dean and Jenn on this one. It really depends on where you're living and the facilities around there. I would call around and get different prices as well as asking neighbors if they use one. Good luck!

Lynn Chase | http://southbend-storage.com/storage-units/
Flag Thu Aug 21, 2014
Wendy Pearson, , Philadelphia, PA
Fri Jun 5, 2009
Also lots of facilities are going to have a hard time refinancing with tougher guidelines from banks and lower values. Could be interesting how tough banks get if owners cannot come up with more equity.
0 votes
Wendy Pearson, , Philadelphia, PA
Fri Jun 5, 2009
Are you looking to buy a facility? John Gilliland is a great resource and very helpful. You can reach him through his website. In general, cap rates are down 100 to 150 basis points and NOI is off 10 to 15% at the average facility bring the prices in around 30%. Not much trading as sellers don't like the new reality but take a look at the public REITs for an idea on where prices are (UHAL, SSS, YSI or PSA).

Good luck!
0 votes
I was going to ask the same question. Buying self storage is different from owning a facility or starting your own company. Obviously, the market conditions for all of those scenarios are different. If you're just trying to buy a space, then just look in the yellow pages for your area. There should be plenty of options. http://www.aaastoragebuildingsenterprise.com
Flag Tue Mar 10, 2015
Chris Kavana…, Agent, Bethany Beach, DE
Tue Jun 2, 2009
Buy? Sell? Lease?

Chris Kavanagh
Coldwell Banker
Bethany Beach, DE 19930
302-829-9068
chris@5starbeachhomes.com
0 votes
I would have to say that it depends on the area in which you live. I would call around to self storage facilities in your area to get an idea of the average price. This will allow you to see what the market conditions are like in your area. Good luck and I hope you're able to find everything you need. http://www.getepicstorage.com
Flag Tue Nov 11, 2014
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