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Updated over 5 years ago,
Adding Self Storage to 3 Unit Building
Hi all,
New to Bigger Pockets!! I'm seeking advice on adding self storage space to an existing 3 unit building. The property has an empty garage and basement that could help add cash flow to the bottom line...
What are the major things I need to turn this into proper self storage units? Do I need security cameras? Insurance against theft? What kind of leases? And should I rent them at below market rate in a crowded market? Any basics and systems would be a great help!
Please bear with me I'm 19 and still working to stabilize my first property. It's been a much bigger task than expected but oh so worth it!
Thanks,
Tucker O.