What Are The Key Operational Costs For A Self-Storage Facility?
As with most businesses, self-storage facility operational costs can be broken down into two primary categories: fixed and variable costs. The fixed costs remain relatively static and are easy line items to include in the monthly budget to ensure your facility is making money. These costs will also help motivate you to keep your property fully rented because that has no impact on your fixed expenses; once a certain number of units rented covers those amounts, the rest of the rent money for newly leased units is profit.
The variable operating costs for a self-storage facility will fluctuate based on the number of units that are occupied and the use of the variable resources like your labor and maintenance needed to keep the facility safe and functional for customers. These line items in the budget demand more attention and focus to ensure they do not consume too much of the monthly revenue.
At Legacy Built, our facilities feature state-of-the-art technology and construction features that keep all operating expenses as reasonable and fixed as possible. That is just one of the reasons our team has proudly been able to tell new clients that we have never had a project perform under our expectations in the more than 45 years we have been in the industry.
How Are Legacy Built Projects More Cost-Effective?
Quality construction and the latest climate control systems are essential in providing our investors with the highest quality self-storage facilities. Legacy Built projects focus on efficient and low operating costs, from the design and specifications to exceptional insulation, durable and weatherproof materials, and the latest computer-monitored climate control systems. In addition to making our facilities easy and affordable to run, these features increase the level of satisfaction of the renters and ensure that our facilities are always in demand.
Limiting The Cost Of Labor
Including technology that grants access to the property, monitors the space for safety and insurance purposes, and controls other features like HVAC and lighting with motion sensors. These all help cut the headcount needed to operate the self-storage facility, which keeps overhead as low as possible. In addition, the quality design and construction of the new Legacy Built properties means they need fewer repairs and less upkeep to ensure renters remain happy with the facilities. One person can conduct site inspections and handle small tasks like replacing lightbulbs or doing small painting jobs, as well as routine maintenance to protect the value and quality of the property and the return on investment that keeps investors happy.
Legacy Built In An Investment In The Future
Self-storage facilities used to be mom-and-pop businesses that catered to homeowners who needed to store items they did not want to sell but had no space for in their homes. The need for a storage unit might arise after an inheritance of furniture and family heirlooms. But today’s self-storage facilities are meeting the needs of businesses larger and small, older generations who are living full-time on the road, and savvy investors who are looking for a safe place to store collectibles, memorabilia, and other items that were purchased strictly as an investment. Because of this huge client base and the increasing demand for self-storage, Legacy Built has perfected the process of turning your investment dollars into facilities that will continue to meet the needs of many consumers and provide a dependable return on your investment.
