Self storage facilities like GoodStorageBristol are one of the fasting growing real estate investments today. Most facilities are on the process of development and expansion because the demand for self storage units is now greater than supply. In fact many investors are attracted to the self storage industry because of the potential for high earnings and profitability as well as the stability of investment even during an economic downturn.
High occupancy rates are a good indication of an improving economy. People have more stuff that requires them to look for a storage option. America has become a nation of hoarders so that when they are moving, downsizing or de-cluttering, they have to store items that will no longer fit in their homes. In Rock Country this need has spurred the construction of multiple self storage facilities.
Once homeowners find out that by storing a few things in a storage unit, they find that their homes are less cluttered which they obviously enjoy. The housing market is also at its strongest and it has helped fuel the demand for storage units locally.
Storage units are increasingly becoming an important part of the real estate equation particularly for those planning to move since they have to de-clutter the home to help sales.
The self storage industry has seen so much construction going on that every American child; man or woman in the country can fit into the canopy of self-storage roofing. In the US, that is 7.3 square feet per person according to the Self Storage Association.
Chris Tuescher and her husband Carl own Crosby Avenue Self Storage and they have built their first building 18 years ago. Now the couple owns a total of 328 units. Rental prices in the area range from $45 to $55 for a 10 by 10 unit which is big enough to accommodate a full living room and two bedrooms. Units that are priced at $100 to $125 measure 10 by 30 feet and could store the contents of a whole house.
The Self Storage Association estimates that 8.96% of all American households rent storage units, treat it like a garage and retrieve items often. People often pay for the storage of their things for a long time before they finally decide that they no longer want it.