On Site Storage Units (Small Multi Family)

[Scott Scoville]

Hey y'all,

Anyone have success renting on site storage units at a multi family property? I'm considering adding storage units to my 4 plex and charging extra for the storage opportunities. Any thoughts on price? Type/Size of storage units?

Thanks,

Scott

[David Brent]

I’d be interested in what others have to say as well.  In my building, avg apt is 900 sq ft.  I have 24 units and there are 24 small storage units. But they are small at just 5x4’. Maybe enough for a bike and some suitcases. 

I just acquired the property, and old owner rented for $25 a mos, and only was able to rent 5 of them.  At that low amount, I’ve been thinking of just throwing them in as a free perk for all the tenants. (Eg. Each apartment gets 2 parking spots and a small storage space).