By Frank DeSalvo and Frank Perlleshi
When preparing your self-storage or RV/boat storage facility for sale, strategic improvements can help attract serious buyers and maximize your final sale price. The good news? You don’t need a massive renovation budget to make an impact.
- Enhance Curb Appeal
Trim back overgrown landscaping, lay down fresh mulch and remove any clutter around the site. Repainting signage, doors and pressure-washing driveways or exterior walls can immediately freshen up the property.
- Offer Move-In Discounts
Higher occupancy adds real value and makes the deal more attractive. The fastest way to improve occupancy ahead of a sale is to offer targeted move-in specials to boost your in-place tenant count.
- Require Tenant Insurance
A mandatory tenant insurance policy adds a revenue stream and enhances property protection. It’s seen as a mark of a well-run operation and can help drive value.
- Enroll All Tenants on Auto-Pay
Auto-pay improves cash flow and reduces administrative overhead. For tenants who don’t enroll, consider charging a small “counter fee” (a monthly admin charge of a few dollars) to offset the time and costs involved with manual billing. This increases efficiency and assures buyers clean operations.
- Conduct Preventative Maintenance
Small repairs such as gate functionality, roof leaks, paint chipping and pavement cracks before they escalate shows buyers your proactive approach to property upkeep. Preventative maintenance helps avoid costly surprises during due diligence and inspections, which can delay or derail sales. It also extends the life of your assets and can improve operating efficiencies.
Bonus: Modernize Security Features
Adding or upgrading security cameras, better lighting, keypad gate access and perimeter fencing improves both safety and buyer perception. Security features also drive tenant retention and can make or break a deal.
Why It Matters
These low-cost improvements, most of which can be executed in 30–60 days, can significantly increase the value of your property. They create operational consistency, improve tenant experience and remove red flags during buyer due diligence. At the end of the day, they help you sell faster and for more.
With combined volume history in self-storage investment sales of $75,190,000, Frank DeSalvo and David Perlleshi of Franklin Street’s National Self-Storage Advisory Group lead a well-established team of dedicated professionals committed to the success of clients.
