Investing in a self-storage facility can be extremely lucrative due to the high demand across the country. Self-storage facilities are also relatively easy to manage compared to other types of investment properties, as they are often fully automated and tenants usually only stay for a few months at a time. Additionally, self-storage is a recession-resistant investment, meaning that it will not be dramatically impacted by economic downturns or market fluctuations. This makes self storage a reliable asset class and an attractive option for investors who are looking to safeguard their investments over the long term.

The operational costs of self-storage facilities are also relatively low, as you don't always need on-site staff and the most demanding self-storage assets are less costly to operate than even the lowest-end multifamily, office, industrial, or retail properties. This leads to higher profits and fewer headaches for investors.

For more information, please visit our net operating income calculator.

Owning a Monster Self Storage facility has many advantages. One of the biggest advantages is that it is relatively easy to operate. You don't always need on-site staff, and the costs of operating self-storage facilities are generally low. This leads to higher net operating incomes, which can be calculated using this calculator. Additionally, self-storage is a recession-resistant investment, meaning that it will not be dramatically impacted by economic downturns or market fluctuations. This makes it a reliable asset class and an attractive option for investors who are looking to safeguard their investments over the long term.

When selecting a location for a self-storage facility, it's important to consider the surrounding market conditions, such as population and job growth, the ratio of homeowners to renters, and the proximity to university campuses, residential areas, and businesses. It's also important to analyze the competition within the market radius, including the saturation level of the market, which is measured by the gross square feet of storage space available per person. According to Multi-Housing News, the average self-storage inventory per capita across the country is around 7 to 8 net square feet.

When setting up a self-storage facility, the most important factors to consider are the surrounding market conditions, the level of competition within the market radius, and the saturation level of the market.

It's important to look at the population and job growth, the number of homeowners or renters in the area, and the location's proximity to university campuses, residential areas, or businesses. It's best to look at these metrics within a 3- to 5-mile radius of the facility.

It's also important to consider the level of competition within the chosen market radius. If there are already a lot of self-storage facilities nearby, it may be harder to attract new tenants. It’s also important to consider whether there are any facilities under construction or in the planning stages, as those can affect your property in the future.

The saturation level of an area is measured by the gross square feet of storage space available per person. Currently, the average self-storage inventory per capita across the country is around 7 to 8 net square feet. A market with a per-capita inventory above the U.S. average is usually considered oversupplied, whereas anything below is undersupplied.

When managing a self-storage facility, it's important to consider the following best practices:

• Develop a comprehensive marketing plan to attract new tenants.
• Provide a secure and safe environment for tenants.
• Maintain a high level of customer service.
• Keep up with the latest technology and trends in the industry.
• Stay up-to-date on local zoning laws and regulations.
• Develop a pricing strategy that is competitive in the local market.
• Offer discounts and promotions to attract new tenants.
• Provide a variety of payment options for tenants.
• Keep the facility clean and well-maintained.

For more information, check out this article from Self Storage Talk.

When investing in a self-storage facility, there are a few potential risks to consider. First, it's important to look at the surrounding market conditions. Is the population and job growth steady? Are there more homeowners or renters in the area? Is the location close to university campuses, residential areas, or businesses? It’s also important to consider the level of competition within your chosen market radius. If there are already a lot of self-storage facilities nearby, it may be harder to attract new tenants than if there were very few options available. Additionally, it's important to look at the saturation level of the market. The saturation level of an area is measured by the gross square feet of storage space available per person. Currently, the average self-storage inventory per capita across the country is around 7 to 8 net square feet. A market with a per-capita inventory above the U.S. average is usually considered oversupplied, whereas anything below is undersupplied.