Why Adding RV and Boat Storage Options to Your Storage Facility Makes Sense
As recreational vehicles and boats are becoming more popular, here’s how the self-storage industry can benefit from it.
Although the popularity of recreational vehicles and boats had been increasing well before the pandemic, the desire to spend more time outside and in a more remote location pushed the demand for them to new highs. RV wholesale shipments reached 600,240 in 2021, representing an all-time high, according to the RV Industry Association.
Image by Isaac Moore from Unsplash.
Demand for Vehicle Storage Options is on the Rise
The current year is expected to be the second-best year on record, with RV shipments projected to reach 549,000 units by the end of the year. While shipments are expected to fall below 2021 levels, the RV market remains strong by historical standards.
The uptick in demand for RVs and boats bodes well for the self-storage sector. As RVs and boats are usually used seasonally, and on a short-term basis, they require storage space. While it was common to park RVs or boats in the driveway or backyard, strict rules imposed by the Homeowners Association (HOA) and the increased value of the assets make it hard or impossible to continue to do that, a Mini-Storage Messenger article noted.
Parking RVs or boats near homes can result in parking fees or violations and reduced home values. Besides these obstacles, storing RVs and boats at self-storage facilities can also protect these vehicles from deterioration and continued need for maintenance. Considering all these aspects, it makes sense for RV and boat owners to store their belongings at self-storage facilities.
While self-storage units are usually rented on a monthly basis, RVs and boats are more likely to be stored for a longer period, considering that these assets are typically used seasonally. Additionally, renters of RV storage units usually have higher incomes, as the cost associated with owning an RV is also higher, consequently, it is more likely that these renters will pay rent on time. This is also true for boat owners, and renters of these types of units are typically less likely to abandon their units due to the high value of their assets, another Mini-Storage Messenger article highlighted.
Common RV and Boat Storage Options Worth Adding
Open Storage Space. These are essentially outdoor parking spaces, with a clearly defined spot for each vehicle. The parking spaces must be graded and paved to stop vehicles from getting stuck. Uncovered spots are easily accessible for any vehicle without worrying about overhead clearance.
Outdoor, Covered Parking. Some storage providers, such as U-Haul, offer boat and vehicle storage with an overhead clearance of 14 or 25 feet. These spots also usually come with electrical outlets. An overhead canopy can also protect from sun exposure. Some self-storage facilities provide three-sided vehicle storage, offering extra protection against more extreme weather conditions.
Fully Enclosed, Indoor Units. Indoor options can include larger traditional storage units or spaces specifically designed for RVs and boats. These units feature climate control and electrical outlets and provide the most security against damage or theft.
Final Thoughts
Adding RV and boat storage units to a self-storage facility can be beneficial to ensure a diverse tenant base, keeping units occupied throughout the year. Before investing in RV and boat storage options, it’s important to consider zoning regulations to make sure outdoor storage is permitted and that there aren’t any extra requirements, such as fences. Investing in other security features, such as cameras and gated entries with biometric locks can also boost the appeal of outdoor storage options.
Related Questions
What are the benefits of adding RV and boat storage options to a storage facility?
Adding RV and boat storage options to a storage facility can be beneficial for a few reasons. First, RV and boat storage can be more profitable than traditional self-storage units. This is because RV and boat storage units are typically larger and can charge higher rates. Additionally, RV and boat storage can be more secure than traditional self-storage units, as they are typically located in a more secure area of the facility. Finally, RV and boat storage can help attract more customers to the facility, as customers may be more likely to rent a storage unit if they know they can store their RV or boat there.
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What are the potential risks associated with offering RV and boat storage?
RV and boat storage can be a great way to increase revenue for self-storage facilities, but there are some potential risks to consider. The most significant risk is the potential for damage to the vehicles due to weather, vandalism, or theft. Additionally, there may be additional costs associated with providing the necessary infrastructure to store these larger vehicles, such as additional security measures, larger storage units, and more. Finally, there is the risk of liability if a vehicle is damaged while in storage.
For more information on the risks associated with RV and boat storage, please see this article.
What are the best practices for marketing RV and boat storage services?
When marketing RV and boat storage services, it's important to focus on the unique needs of your customers. For example, you should highlight the convenience of your location, the security of your facility, and the amenities you offer. Additionally, you should consider offering discounts for long-term storage, as well as special promotions for seasonal customers. You should also consider partnering with local businesses, such as marinas and RV dealerships, to help spread the word about your services. Finally, you should consider investing in online marketing, such as SEO and PPC campaigns, to reach a wider audience.
For more information, check out this article from Self Storage Solutions.
What are the most important considerations when designing a storage facility for RV and boat storage?
When designing a storage facility for RV and boat storage, the most important considerations are the size of the storage units, the security of the facility, and the convenience of the facility.
The size of the storage units is important because it will determine the types of vehicles that can be stored. For example, if the storage units are too small, larger RVs and boats may not be able to fit. It is also important to consider the height of the storage units, as some RVs and boats may require higher ceilings.
Security is also an important consideration when designing a storage facility for RV and boat storage. The facility should have a secure gate, as well as security cameras and lighting. Additionally, the facility should have a secure access system, such as a keypad or card reader, to ensure that only authorized personnel can access the facility.
Finally, the convenience of the facility is important. The facility should be easy to access, and should have amenities such as a dump station, water hookups, and electrical hookups. Additionally, the facility should have a customer service area where customers can ask questions and receive assistance.
What are the most common mistakes made when setting up RV and boat storage services?
When setting up RV and boat storage services, the most common mistakes are not considering the local market conditions, not having enough trailer parking, and not having enough security. It is important to research the local market conditions within a 3- to 5-mile radius of the facility to get a better understanding of whether or not buying a particular property would make sense. Additionally, it is important to ensure there are enough trailer parking stalls for either short- or long-term stays, and to prioritize investments in assets with secured truck courts or trailer parking. Lastly, it is important to have enough security to protect the valuable products stored in the trailers.
What are the most important safety protocols for RV and boat storage facilities?
Safety is of the utmost importance for RV and boat storage facilities. It is important to ensure that the facility is well-lit, has a secure gate, and is monitored by a security system. Additionally, it is important to have a clear policy in place for visitors and tenants, such as requiring visitors to check in with the office and providing a code of conduct for tenants. It is also important to have a plan in place for emergency situations, such as a fire or flood. Finally, it is important to have a loan product in place that covers the cost of any damage to the facility or its contents. For more information, please see this article.