While some players in the self-storage game might argue that having high occupancy rates means business is booming, it actually means you could be running out of inventory and restricting your revenue stream. Having the space to accept new customers and leverage rental rate increases is important to your bottom line. If you don’t have the space today, it might be time to consider adding rentable square feet to your self-storage facility with relocatable storage units.
Why 80-85% Unit Occupancy Rates are Better Than 100%
Every business owner wants success and the payload that comes with it. While your basic business instinct could be beckoning you to max out every unit you own, most industry experts consider the storage unit rental standard to rest between 80-85% occupancy. Managing an 80-85% occupancy rate means you have room for new customers and can leverage rental rate increases based on demand. A great way for self-storage owners and operators to stay ahead and plan for capacity is by adding rentable square feet to their self-storage facility with relocatable storage units.
Why Add Rentable Square Feet?
To stay ahead of the curve and keep sales rolling in, it’s important to maximize your rentable square feet. While establishing trends and reaching financial goals can be satisfying, instead of just succeeding, you could be exceeding!
• Your yearly revenue may be high, but it can likely be higher
• You may already have permanent buildings, but you can likely find new ways to incorporate relocatable options
• You might be fully occupied, but don’t want to run out of inventory and turn away new business
Having the failsafe to cushion your business and provide space solutions could be the difference between you and your competition’s occupancy and rate numbers. Luckily, there’s a hassle-free solution to your problem with relocatable storage units.
Why Use Relocatable Units?
Relocatable storage units could be the leverage you need to survive in the growing market. By adding them to your current unit offering, you can optimize areas that were once unfit for permanent construction. This is because relocatable storage units are classified as equipment and can go almost anywhere, from sloping parking lots to land under expressways. Once wasted space can now generate an entirely new revenue stream.
What are the benefits of adding rentable square feet with relocatable storage units? Here are our favorites:
- They’re considered equipment that may help you bypass lengthy permitting processes. (Check your local municipality)
- The speed of installation is unmatched, and no complex foundations are required.
- They can be made from the same durable components as traditional self-storage units but come with less hassle.
- They’re generally eligible for a 100% deduction after just one year.
- They can turn once wasted space into an entirely new revenue stream.
Not only are relocatable storage units an attractive solution because they’re a faster and easier solution that doesn’t sacrifice quality, but there’s a huge demand for drive-up units. Customers crave the convenience that comes with driving up to their units as opposed to parking and navigating the interior of a building, especially when they’re moving large and heavy items such as appliances and furniture.
With relocatable storage units, your new mantra can be: Rent more, make more, stress less. Visit us here to learn more about relocatable storage.
