Commercial property owners are constantly under pressure to reduce costs and stretch their shoestring budgets as far as they can go. This is increasingly difficult if you are unable to accurately predict future operating and maintenance costs.
What are the Costs of Maintaining Your Retail Property?
What are the Costs of Maintaining Your Self Storage Facility?
No matter the size or location of your self storage facility, maintenance and upkeep is an absolute essential cost you will need to cover. This includes standard fixtures like paint, asphalt, landscaping, etc. As a facility owner, you will need to be prepared for the following costs:
What Will Property Expenses Cost You?
When investing in commercial real estate, it is essential that you understand your property expenses. These expenses typically make up around 50 percent of the gross income for a property. This means that if you are collecting $9,000 in rent, you can expect to put between $4,000 and $5,000 of that towards operating expenses. Generally speaking, the smaller the property, the more expensive it will be to operate.