Self Storage Expense Projections - Climate Controlled

[Veeno Suchdeve]

Hello all, 

I am working on my first warehouse site to convert to self storage and have been on youtube and learning about this asset class.  I'm having a bit of difficulty putting together a list of monthly expenses that I should account for for a climate controlled site. 

For now I'm using 35% expense ratio to move forward and now the deal is getting more evolved and I feel I need line items for expenses and not just a %. 

For now, I have taxes, insurance, utilities, & management for my expenses.  I understand climate controlled sites don't use the same amount of energy as MF sites do.  Are there expenses that I am missing here? I will have the site fully automated so I don't think I will have someone onsite but will have someone answering incoming calls.

I appreciate any feedback or support in advance.  

Regards,

Veeno Suchdeve

[Taylor L.]

You'll need a maintenance line item as well. Things still break in storage! You'll also need someone to go by from time to time to take out the trash, cut the grass, and generally clean up the grounds. You'll also need someone to cut locks and so forth for non-paying units.