Things You Need to Know about RV and Boat Storage!

Every business has a few tips and tricks that you need to learn. This is especially true if you are going to have an RV and Boat Storage area. You want your facility to run as smoothly as possible. Here are a few tips and tricks to help you as you get started.

The first thing that you want to consider is that many of your renters are driving their RV for the first time. They may have never driven anything larger than a sedan. You want to design your facility so that it is easy to get in and out of. You don’t want them to crash into other renters’ vehicles.

Not only will having a facility that is easy to get in and out of be safer for everyone, but it will also attract more customers. If customers have to thread a needle to get in and out of your facility, they may not stay very long. If your facility is designed badly, your renters may hit another vehicle. You don’t want that headache. However, you don’t want to lose revenue because you have spaced everything so far apart that you are missing out on rental spaces. Find a way to reach a balance between space and safety.

Another critical factor to make sure that you and your tenants have is the right insurance. You want to make sure that you are both protected in case of inclement weather or a bad driver. Each owner needs to carry insurance and you need to have a copy of that insurance. You want to see updated policies to make sure that there are no gaps in policies and that they are not underinsured if the worst happens.

Next, you want to make sure that you have proper drainage on your parking lot. The last thing that you need is water build up or icy areas. You need to make sure that your parking lot is graded properly so that you don’t have issues related to weather.

Another important thing to look into is your lease. You must require that your renters have the title to the vehicle so that if they abandon the recreational vehicle, you can claim it. Find out what the lien laws are in your state in case your renters don’t make their payments. What do you have to do to reclaim the vehicle? You don’t want to end up with a bunch of abandoned vehicles that no one is making payments on, and you can’t do anything with. There are no exceptions to this rule. You have to have control over your own facility.

Before you even consider having an RV and Boat Storage Facility find out what your rights are if someone doesn’t make the payments. Will you get the title if you can prove they aren’t making their payments? Can you have the vehicle removed from your property? Or are you stuck with it? If so, for how long? This deprives you of income and may reduce the value of your facility.

Before you turn your RV and Boat Storage into a junk yard, make sure that your lease states that the vehicles being stored must be in good working order. If your parking lot looks awful, no one is going to park their brand new vehicle next to a broken down boat. At the bare minimum, the tires need to be inflated, and the vehicles must work, and boats should be tarped.

RV and Boat Storage can be very profitable. Make sure that you are in the right place and that you set yourself up to succeed. Do your research before you decide that this is the direction you want to go. As always, happy investing.