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Updated over 4 years ago on . Most recent reply
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Rental property with land - RV storage?
Recently purchased a property with a duplex and a few shops on it. 0.64 acre lot.
The land is rectangular in shape with the duplex at the front and a road that goes by the side of the duplex to the back of the property. There is a decent sized chunk of land that I could place a few RVs for storage; 5-8 possibly.
This idea stems from a neighbor whom has a large plot of land right next to me and whom is storing RVs.
This appears to be an easy way to increase cash flow of the property.
Curious if anyone has some guidance regarding this specific situation?
Information I am finding regarding RV storage seems isolated to storage facilities vs. private land storage.
My concern mainly stems from liability. Obviously, I would need to disclose this with my insurance and proceed with any necessary additional coverages.
Thanks for any insight!