The self-storage industry continues to be strong, but that doesn’t mean your best move is to simply hang onto your property as is or sell for a profit. If your self-storage property is rundown, for instance, an upgrade will put you in good position to charge higher rental rates. Below, learn more about benefits of renovation plus two more self-storage tips from the pros.

1-Renovate

It’s a natural human tendency to be willing to pay more for something that looks good and to expect to pay less for things with a shabby appearance. As the self-storage industry ages, more and more properties may still be useful, but they’ve lost their aesthetic appeal. The following are a few examples of upgrades that could make your customers perfectly willing to pay higher self-storage rental rates.

Modern Access for Units

Units with a roll-up door that’s secured with a simple padlock are vulnerable to theft. In fact, they’re practically invitations for a thief to help himself. If you implement modern security retrofits, customers will feel much more secure about storing their belongings at your facility. Modern access-control systems protect the assets of your tenants, and they’ll, no doubt, be glad to pay more for the upgrade.

Compliance with the ADA

A very practical investment for any business owner is to bring your property up to compliance standards with the Americans With Disabilities Act (ADA). You are vulnerable to being sued if you don’t have required ramps, if a door doesn’t fully open, or if you fail to meet other ADA requirements for self-storage facilities.

2- Add Relocatable Storage Units

Relocatable storage units provide a smart way to increase the return on investment of your self-storage property. Instead of keeping rows of parking spaces out in the open for rent, which often leads to being stuck with clunkers, relocatable storage units provide you with additional rental space without all of the expense and hassle of adding on by building. There are incredible tax code benefits, as well. For example, after just one year, relocatable storage solutions are typically eligible for 100% deduction.

3-Improve your Online Presence

More than 90% of consumers today consult the Internet before buying a product or service. If you want to improve your occupancy rate and ROI, it may be important for you to improve your online presence on the Internet. Your website needs to be up-to-date, and your advertising dollars are likely best spent advertising on social media platforms.

Consult the Experts at Weaver Realty Group

If you’re interested in earning more with your self-storage property located on the Florida peninsula, contact the agents at Weaver Realty Group. They have decades of combined experience with the local market. Another benefit is that Weaver Realty Group is an Argus Self Storage Network Affiliate, specializing in helping self-storage owners succeed with innovative strategies. In addition to the pro tips above, Weaver can help you find the best path to increased ROI at your self-storage property or help you sell or buy a self-storage facility. Contact Weaver Realty Group by calling Josh Koerner at (904) 591-0140 today.