If you are the owner of a multifamily property and haven’t installed storage bins yet, it is the perfect time to do so. Storage solutions are in high demand today, so there is a huge opportunity to cash in on this demand and make a generous profit. Don’t let the pandemic stop you from dreaming; renters are going to need storage, whether it is here or not.
Table of Contents
Renters Prefer Storage Solutions
In a recent survey that asked renters how important storage was to them, most of the tenants stated that having a secure place to store their stuff was very important. In fact, most of the people said that they were already paying for an off-site storage solution or would be soon. All of the tenants that said storage was important to them said that they would be more than willing to pay extra each month in order to have it. What this means is that installing a storage solution in the building could end up being a very lucrative endeavor.
The Problem with No Storage
Every apartment building should provide some sort of adequate storage space for the tenants. In some of the larger apartment buildings, residents will put extra belongings in the space that they have at the top of their parking space, or in the hallways, and even on their overstuffed balconies. If this isn’t nipped in the bud before long, the rest of the tenants will follow suit and before you know it, everybody is storing their extra stuff in the parking areas. This can get ugly. Not only does it look bad, but it can cause security problems as well. When thieves walk through a place and see an easy source for things to steal, they are more likely to return and look for more stuff to steal.
The fact is that people have extra stuff that they don’t want to throw away, but they don’t have the room for it either. If they have nowhere to store it, they will get creative.
Wire Mesh Cage Storage is Bad
Too many landlords make the mistake of installing wire mesh cages for storage. Many of them assume that it costs less to install wire mesh than it does to install enclosed storage bins. This isn’t so. For about the same cost to install mesh, a property owner can install fully-enclosed, safe, private, and secure storage bins.
Wire mesh storage allows everybody to see what is inside of them. This gives thieves a chance to take inventory and come back later when nobody is around. All they have to do is use the right tools, and they can break into the storage boxes without much of a problem. The wire is pliable, bendable, and easy to snip right through. Not only is it easy to steal out of, but it also attracts thieves as well.
An Investment With Legs
Isn’t it great when you invest in something that stands on its own two feet? Instead of putting money into a possible return on investment, you put money into something that will absolutely give you a large return. Investing in secure storage bins will not only bring in extra revenue from the renters, but it will also add value to the total worth of the property.
How to Get Started
Starting the process of this great investment is pretty easy. If you contact the experts at Bradyl Storage Solutions, they will walk you through the process and even give your property a thorough assessment to see which steps will prove to be most beneficial for you. The great thing about this is that you won’t have to do it alone. A whole team will work together to assess your property needs, create a strategy, and install the bins or boxes. It is as easy as clicking the mouse and making a call. Why wait? The longer you sit around, the more money you are losing.