Self-storage properties are becoming a popular investment. If you already own a self-storage facility, this means increased competition and added complexities. Renters want to feel like they’re getting a great value for their money and you want to keep up with the competition, but you also want to make smart financial decisions. Knowing when and how to upgrade your property can keep you competitive in the self-storage industry for many years to come.
Consistent First Impressions
When a potential renter first arrives on your property, they’re already assessing it. In the past, customers accepted warehouse style, bland buildings with little curb appeal. Now, they’re expecting spacious, attractive space with friendly staff. These first impressions matter a great deal and you’ve only got one chance to get it right. They show your standards and can either make a renter feel comfortable or not – and how they feel may very well determine if they rent with you. For little investment, you may be able to add a more appealing façade, redo parking areas, or add landscaping to create a more welcoming first impression.
Small Updates with Big Return
Let’s face it, the age of your property doesn’t matter so long as your renter are happy with your service and feel comfortable recommending it others. You don’t need to knock it down and rebuild. Small things like lighting and paint can make a huge difference in the impression people have of your property. Check out these ideas:
- Lighting – LED lights are modern, provide the appearance of safety, and they’ll save you money on your utility bill.
- Signage – Modern, fresh, and appealing signage shows potential customers you take pride in your facility
- Landscaping – landscaping not only provides curb appeal. When it’s well-maintained, your customers know that you’re active in the day-to-day operations and haven’t abandoned the property (or their possessions.)
- Painting – fresh coat of paint brings to new life to anything. You don’t have to paint your whole facility. You can get a stunning transformation simply by painting the doors.
- Paving – Crumbling asphalt doesn’t just look bad, it can be dangerous, too. Repaving makes the whole lot look more appealing and prevents trips and falls.
Structural Updates and Expansions
If you can see the wear and tear in your facility, so can your customers. When they reach the point of being dangerous to either people or their belongings, it’s time to invest in updating your facility to correct those problems. If a business is booming, think about expanding so you have more rentable units.
Updating and upgrading your self-storage property can help you increase your profits and create long-term loyal renters who recommend you to others. Working with a reliable contract, like EMAX, on these projects ensures you get the most value for your investment dollars.