If you’re looking to invest in commercial properties to generate passive income, several options are available. You can invest in office and retail spaces, industrial properties, or other special-purpose buildings. While there are many advantages to investing in these types of commercial real estate, storage units are often overlooked as a viable investment option. Here are some compelling reasons to consider supporting a storage unit facility.
Storage Units Are In High-Demand
Storage units are becoming increasingly popular due to their convenience and ability to provide additional storage space. They are particularly useful for individuals who need to reduce clutter during a move or for those living in small apartments with limited space. By renting a storage unit, people can store their belongings in a secure and accessible location, giving them peace of mind and freeing up valuable space in their homes. Whether it’s for short-term or long-term storage, storage units offer a flexible and practical solution for anyone looking to remove clutter.
Little Maintenance To No Maintenance Required
Regarding commercial properties, storage units are known for requiring little maintenance compared to other properties like warehouses, industrial buildings, and offices. This is because storage units are designed to be low-maintenance and require minimal upkeep, making them an ideal choice for property owners who want to minimize their maintenance costs and maximize their profits.
Low Turnover With A Storage Unit
Transporting many goods or bulky items from one location to another can be a tedious and inconvenient task that most people prefer to avoid. Additionally, the need to store and organize numerous possessions is often a long-term requirement. As a result, many individuals opt to rent storage units for only a few months. However, over half of renters tend to keep their units for more than a year despite rent increases.
Cash flow refers to the amount of money you have left after paying for various expenses such as mortgage, maintenance, and other related costs associated with your commercial property. Positive cash flow is desirable when investing in any property type, including storage units. Storage units are known for having a positive cash flow because they offer 24/7 access to individuals who need to use them.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, and Pinterest.