market occupancy rate

[Theresa Zavala]

Can anyone make a suggestion on the current market occupancy rate on a mini/self storage facility in Conifer, CO? I have been going around and around with a broker/agent on this all day long and just can't seem to get a straight answer. I am unable to submit this deal to my commercial buyer without this market occupancy %
Any help is greatly appreciated
...Theresa...

[Bill Gulley]

Hi, I think any considerations on the business operations side is something you know about, it's a service business unlike housing and that current market conditions in many areas may require owners to offer more competitive prices.

All too true in most everything, but not everywhere. I assume you know your business, but maybe not the local market.I probably wouldn't buy anything like this without having spent a few days in the area, checking out vacancy and market conditions.

Speaking of knowing your business, If I were to go into this business, I would go with the high tech approach. High security.

You can stop by, and basically lease a unit like operating an ATM, select the size you want, agree to the lease, pay on a credit card, get an entry code for the gate and the unit. When rent is due you get a statement, if you don't pay, your code is terminated. Load the place with cameras, good fencing and security lighting. SPend time reviewing your security vedios, anyone moving in a barrel with big yellow symbols on them? Might wnat to check on that...but then again, chemicals acids, might not be a problem in some areas. It's an interesting business and can be a money maker, much better per sq ft than housing! Bill