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What are the Costs of Maintaining Your Self Storage Facility?

[fa icon="calendar"] 09.20.2016 / by Rory Williams

 

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:

1. Waterproof Paint

Since bricks and concrete are porous materials, they have the ability to let water to soak through. This means you need to coat the outside of each unit with several layers of waterproof paint. Keep in mind that this an ongoing process that needs to be done every so often as the paint breaks down and chips.

2. Caulk and Sealant

Even in newer storage facilities, the bricks will start to form cracks as the buildings settle. When this happens, you need to make sure that the cracks are being sealed with a high quality caulk that will stay flexible over time. Once the caulk has dried, be sure to apply another coat of waterproof paint to the area.

3. Fixing Dents in the Roofs or Gutters

As you walk along the property, look for dents in the roofs or gutters on each storage unit. These areas can often be damaged by storms or moving trucks and may cause separation between the roof and the gutter. When this happens, water can seep into the unit so it is important to repair any damages you come across.

4. Security Cameras

Video surveillance is essential to maintaining a secure self storage facility. Be sure to install security cameras in the following areas:

  • Driveways and thruways
  • Entrances and exits
  • Payment kiosks

Not only will your customers feel comfortable knowing their belongings are being watched over, you may even be protecting yourself from a lawsuit if theft does occur.

5. Climate Control

Almost all self storage facilities are climate controlled these days, so you will need to provide the same service if you want to compete. The cost of climate control will vary depending on your location as well as the size and number of units in your facility.

6. General Maintenance

Keeping the grounds of your facility in shape can go a long way in attracting quality customers. This means keeping the units in good condition, maintaining any shrubs or landscaping, and filling in any potholes that develop along the roadways.

Recurring Expenses

Of course, this is not an all inclusive list of self storage maintenance costs, but facility owners will get a general idea of what needs to be done around the premises. Keep in mind that most of these are not one time expenses as maintenance will be need to be performed on a recurring basis.

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Topics: Property Expenses, Self Storage

Rory Williams

Written by Rory Williams

Rory is the managing partner of Demetree Real Estate Services, a diversified real estate organization focused on investment, development and real estate services. He has experience running the operations of a private real estate portfolio with 5MM square feet and operations in 8 states.