You can’t walk more than a few blocks without seeing a self storage facility or advertising for one. By some estimates, the City’s self storage facilities cover over 50 million square feet.
Individuals use storage as a temporary solution for many reasons, including remodeling, moving between leases or caregiving for a loved one. For investors, the industry offers lower barriers to entry compared to other commercial real estate assets. Your next home awaits with affordable rental properties and additional storage options from Self Storage Owasso.
The safety of your belongings is paramount when it comes to self storage, so it’s important to choose a facility with robust security measures. Some of the most effective strategies include perimeter fencing, CCTV, and access control systems. You’ll also want to look for facilities that have a staff presence on-site to monitor security measures and respond to any incidents promptly.
Whether you’re a tenant looking for storage or a facility owner seeking to strengthen your security measures, there are many options available that can meet your needs. The key is to find solutions that are affordable, easy to install, and integrate with your existing hardware and software.
Security systems can range from simple keypads that open a gate to more advanced solutions that use biometric readers to identify users and track who is on the premises. For maximum security, consider integrating your access control system with alarms and remote monitoring services. These features can alert you to any attempted intrusions and provide real-time data on who is onsite at your facility.
Another aspect to consider is the type of locks offered. The more secure the locks are, the safer your customers’ belongings will be. The best locks are ones that require a unique key to unlock, such as disc locks or padlocks. Look for locks that meet British Standard 3621 to ensure the highest level of security.
Lastly, consider adding motion sensors at the entrance of your facility and inside each unit. This type of technology is increasingly popular amongst storage facility owners, as it provides an added layer of protection to both the property and its tenants.
In addition to implementing these security measures, facility managers should implement common-sense security procedures and communicate them clearly to all tenants. These procedures should be detailed in the lease agreement to help avoid misunderstandings and disputes. For example, it’s important to clearly state that the items stored are at the tenant’s risk and that the facility is not responsible for any lost or stolen items. In addition, all employees should receive regular training to be aware of the latest threats and how to respond quickly and effectively.
Climate Control
When items are left in a storage unit, they can experience a lot of damage from the weather. High temperatures can cause wooden items to warp and crack, while humidity can lead to mold and mildew growth, destroying valuables like books, clothes, and electronics.
In order to protect these possessions, owners can rent a climate controlled self storage space. This solution maintains stable temperature and humidity levels in the units, protecting them from the effects of extreme weather. This can help to keep items safe from damage and keep them in the same condition as they were when stored.
Building climate control into your storage business can generate extra revenue for you. However, you need to consider your site and what kind of customers you want to serve before making this investment. For instance, a location near a college or university may attract students who need to store their belongings for long periods of time. Meanwhile, a facility in a busy commercial area can serve businesses who need to store inventory, records, or furniture.
You can choose from a variety of different types of climate control when you build your storage business. For example, you can offer basic climate control, air-cooled storage, or heated storage. You can also use energy-efficient HVAC systems and install motion-sensing lighting to reduce energy costs.
When choosing a climate control option for your facility, it is important to understand the different temperatures and humidity levels that are required by various types of goods. For instance, a woodworking shop needs to have low humidity and a stable temperature, while a musical instrument should have a slightly warmer temperature and a higher humidity level. It is also important to ensure that the building is properly insulated and that there are sufficient ventilation and dehumidification systems in place. This will prevent the air-conditioning system from short cycling, which can cause moisture to build up and damage belongings. It will also increase the lifespan of the air-conditioning unit.
Accessibility
Self storage is an industry that offers the public the chance to store their belongings in secure facilities for a small fee. The concept is popular with people who downsize from a larger home, and it is also used by businesses that need to keep excess inventory in the interim. In the US, there are over 54,000 self storage locations. The majority of these are located in densely populated areas where there is a need for extra space.
Like any business, it is important for self storage owners to make sure that they are ADA (Americans with Disabilities Act) compliant. The ADA was originally passed in 1990, but updates to the guidelines in 2010 have made it more applicable to the industry. The revised standards include new provisions addressing accessibility for rental offices, bathrooms and parking areas. However, the new ADA regulations also address specific facets of the storage units themselves. These stipulations are called “scoping requirements,” and they require that a certain number of units be designated as wheelchair accessible.
For these units to be ADA compliant, the doors must be modified. The door pull must be between 15 and 48 inches above ground level, and it must have a loop that is big enough for a person in a wheelchair to grasp with their hand. The door must also be tensioned, so that it can easily open and close by a user with limited mobility. A few door manufacturers offer models that meet these requirements, including Janus.
Another way that you can ensure that your facility is ADA compliant is to use access control systems that utilize card readers and biometric scanning technology to identify tenants. These systems can be purchased from companies such as HID Global and IDenticard, and they typically cost between $400 and $800 each. They provide an additional layer of security, since they prevent unauthorized individuals from accessing your facility.
Keeping your self storage business up to date with the latest ADA regulations will not only help to protect you from expensive lawsuits, but it will also show your customers that you care about their needs. The ADA may seem daunting for many small business owners, but with some planning, it is possible to comply without spending a fortune.
Payment Options
When renting storage space, customers need to choose a payment method that works for their lifestyle and needs. Some may prefer to pay with a card while others might be more comfortable paying in cash. However, in order to offer customers more convenience and ensure their business is successful, owners should consider offering multiple payment options, including online payments.
Payment processors, also known as merchant account services, are a necessary component for any self storage operation. These services handle the credit and debit card transactions that are made to rent a unit or purchase a storage facility membership. They are required to charge a variety of fees, including transaction costs and interchange rates. It is important that owners understand these charges and find a provider that has an understanding of the self storage industry to avoid hidden fees.
Bridge loans are temporary solutions for self storage operators who need to secure funding for a project quickly and are ideal for facilities that are upgrading or expanding. These loans have short repayment terms that last from six months to four years and typically carry higher interest rates than other types of financing. Upon expiration, the borrower will need to line up long-term permanent financing.
Construction loans are designed for new self storage facilities and can include a down payment up to 25% of the cost of the project, according to Fundera. Borrowers will then make monthly payments on the loan amount and have to line up long-term permanent financing once the construction is completed.
SBA 504 loans are another way for storage facility owners to obtain financing. These loans provide a low-interest, fixed-rate loan of up to $5 million for buying, building or renovating a storage facility. Applicants must meet certain requirements, such as being a U.S. citizen or business owner, having a tangible net worth of at least $1 million and not being in bankruptcy, foreclosure or tax lien status.
For many consumers, it is more convenient to pay online than it is to visit a storage facility during office hours to make a payment in person. This is why it’s important for storage facility operators to have a reliable website that allows customers to make their monthly payments without the hassle of traveling to the location during regular business hours. Additionally, offering autopay is a great way to prevent delinquencies and boost customer satisfaction.