Self-Storage Conversions and Planning and Zoning!

Planning and zoning can be synonymous with pain and suffering and long and waiting. However, if you know what you are doing and if you are working with the right team, it can also be synonymous with easy and painless. When you are looking for the perfect conversion project, make sure that the city will allow you to make the necessary changes before you close on the transaction. While you may not be able to get an approval, you can get a feeling on what their appetite is for self-storage in that location. If they are completely against the idea, you may want to move on. On the other hand, if they love the idea, it should be easier to get your project approved.

The first step in evaluating a property for a conversion is checking the zoning against what the zoning requirements are for self-storage. If the zoning is already the same, then you will just need to get your building plans approved. If it is not, then you will need to get a zoning change and your building plans approved. This will take a lot more time.

If you have to get a zoning change, then you need to find out what that process looks like in that city and how long it usually takes. This is not something that you should try to do on your own. This is a good time to expand your power team if you don’t already have an architect on your power team. Make sure that your architect has experience with self-storage facilities. Make sure that they have worked with the city that you are planning on building in. Each city has its own nuances, and you want someone who is familiar with what they are.

Go to the city records and find out who got the last few projects approved. You want that guy. He obviously knows what to do to get things approved. Find someone who knows the city and who knows how to get projects approved.

Does the property have the right setbacks? Will there be enough frontage? Can you leave enough driving area for people who are driving a rental vehicle for the first time? Can you create your dream self-storage facility out of the bones that are there. Your architect can help you determine if this property will work. Once you find a property, then it is time to start your due diligence. As always, happy investing.