Storage Units on Site

[Ryan Smith]

So I did some searching and could not find any threads about this. Maybe I was searching the wrong words. Has anyone added storage units to their apartment buildings? Such as in extra space near the parking lot, or against the back wall of the complex? Is permitting usually necessary for this type of value add? I feel it has a huge return on investment if done correctly. I am trying to figure out what the extra costs associated would be that I am not thinking of. 

Thanks so much in advance. 

[Scott Meyers]

Hey Ryan, 

This is what we do - Storage!  However, I don't believe I've written a blog post about this strategy, or answered in a forum.   By the way, DON'T bolt them to the pavement, then you have to pay property taxes on them! 

This is the most popular way to add Revenue to the bottom line of an apartment complex (with the exception of additional units) 

Building usually doesn't make sense, but many of our students will convert basements to Self-Storage Units, or add movable units like shipping containers, or Z-boxes (universal storage Containers) or units by BOS (Best of Steel), Trachte, Janus...etc.   

Yes, check for zoning, but I have yet to see movable storage that was NOT permitted in an Apartment Complex under existing zoning.    

If you want to know more, we have resources and live events that go into detail on how to develop with movable storage units.  Check out our Blog posts and other areas on BP for more info.  

Cheers,