If you have a RV storage facility, it can be an excellent investment for your portfolio. Not only do these facilities make money and provide another revenue stream, but they also offer valuable amenities that traditional self-storage facilities don’t usually provide. If you’re looking for an investment property or want to start your own business with limited startup costs and even less management responsibility, then an RV storage facility is the perfect opportunity.
Touchless technology is changing the industry
Managing your property can be a lot of work, but it’s not impossible. If you have the time, energy and desire to do so, an RV storage facility can make a good investment. In addition to managing the building itself, you’ll also need to keep an eye on how much money is coming in and going out of each rental. This means: calculating rent payments due and making sure they get paid on time, keeping track of utilities, maintaining safe conditions (such as making sure all electrical outlets are working properly) and keeping up with maintenance issues such as plumbing problems or leaks from broken windows.
Advancements in tech integration have taken the hassle out of managing a facility. Between rental processing and administration able to be completed over the phone and the many new companies in keyless locks on the rise, jumping into the industry is at its lowest risk ever.
An RV storage facility can be managed remotely. You can run a facility from anywhere in the world. If you don’t live close to your facility, you may want to hire a manager or use an app that allows you to monitor it remotely. You could also use a webcam to watch the facility from anywhere in the world.
Facilities require less attention than other properties like homes or apartments where people live, and with the industry taking advantage of the latest breakthroughs in touchless technology, a hands-on approach will be less of an issue. It’s not to say that having personal contact from time to time at a storage facility is nice to build and strengthen professional relationships with tenants, but technology reduced the need for a manager to be onsite full time.
You can take advantage of the rise in popularity of RVs and camping
As more people become interested in traveling, they are also drawn to the idea of renting an RV or camper and enjoying the great outdoors with comfortable beds to retire to after adventuring all day. With this surge in interest comes an increase in demand for storage facilities that cater to these vehicles. If you’re looking for a way to make money from real estate without going into debt or waiting years before seeing returns on investment, RV storage may be perfect for you.
It can be a great income-generating property
RV storage facilities are a great investment because they provide a steady stream of income. The key to making a facility profitable is offering the right amenities and keeping your rates competitive. You can manage your facility remotely, which means you don’t have to be there every day.
A facility is also safer than leaving RVs in your yard or driveway. If you’re renting out spaces on a long-term basis, you may want to consider insuring the contents inside each unit for protection against theft or damage from bad weather or other outside forces.
A vehicle storage facility can be profitable if you offer the right amenities. There are a lot of amenities that your facility could offer. Some amenities that tenants will appreciate, especially after when returning from a great outdoor adventure, include the following:
- Washing bays/vacuums
- Garbage dumps
- Water and ice stations
- Power outlets
The industry is blossoming and it’s only expected to continue growing. This means that the market will become more competitive over time but right now you can get started with a better chance of success than if you were opening up a traditional facility for storing valuables.
The reason this type of business is so profitable is that it has low overhead costs compared to other types of facilities—you don’t need security guards or security cameras like in some other types of businesses and your insurance costs won’t be as high either since there aren’t any valuable items stored onsite.
If you are looking to invest in real estate, an RV storage facility may be just what you need. It is a great way to diversify your portfolio and earn income. You will find that there are many benefits to owning a facility as well as many ways it can be profitable for you.
The next step will be in advertising your business, and that’s where Toy Storage Nation steps in. We are the voice of the recreational vehicle storage industry and are prepared to make your voice heard. We are experts not only in recreational vehicle storage but in digital marketing and advertising to grow your business. Contact us today to get started.