Self Storage Owasso businesses provide a service that many people use. For example, they’re popular amongst homeowners and business owners who are remodeling a space. They’re also great for people who are relocating, in between homes or for travelers.
Before investing in a Self Storage facility, there are some things to consider. These include:
Buying a storage facility is a significant financial commitment. As such, it is essential to do your research and find the right location. If possible, it is best to work with a real estate professional who specializes in the self-storage industry. This will help you navigate the process and ensure that you get a fair price for the property. In addition, a specialist will have a better understanding of the market and how to negotiate with sellers.
When choosing a storage facility, you will want to consider the size of the units and how long you intend to store items in the unit. A smaller unit may be suitable for short-term storage while a larger one is more appropriate for long-term storage. You will also want to make sure that the unit is climate controlled. Moreover, the unit should have adequate parking space so that you can easily access your belongings.
To determine the correct unit size, you should take an inventory of all your belongings. This will help you identify the items that need to go into storage and how much space is required for them. You can also use online calculators to calculate how much space you will need. Lastly, it is essential to check whether your homeowner’s insurance or renter’s insurance covers items stored in a self-storage unit. If not, you should consider purchasing insurance from the facility or getting it separately.
You will also want to consider the facility’s location and its amenities. You will want to select a facility that is located near your home or workplace. This will save you the hassle of transporting your belongings to and from the storage facility. Additionally, a location in a safe neighborhood will provide additional security benefits.
You will also want to make sure that the storage facility has a good reputation and is well-maintained. You can do this by reading reviews from past customers. While many of these reviews may be biased, you should look for any patterns that indicate whether the facility is a good fit for your needs.
Storage Unit Sizes
Storage units are available in a wide range of sizes to meet the needs of both individuals and businesses. To choose the right unit size, first take inventory of all the items you need to store. Having the exact measurements of each item, especially any furniture pieces, will give you a precise sense of the space needed. Next, multiply each item’s length and width to calculate its volume. Finally, add up all the item’s volumes to find the total square footage of your items.
Choosing the right storage unit size can be tricky, but it’s important to get it right. A unit that is too small may not accommodate your belongings, while a larger unit can quickly fill up and be expensive to rent. If you are not sure which storage unit size to choose, consult a self storage specialist for advice and suggestions.
Small storage units range in size from 5 by 5 feet to 10 by 30 feet. They are ideal for storing household goods and smaller furniture items like a dresser or couch. They are also perfect for a decluttering project, or to store the contents of a single room while moving to a new home.
Medium storage units are the most popular and typically offer up to 100 square feet of space. This is sufficient to fit the contents of a one-bedroom apartment, including a mattress set, dresser, and stacks of boxes. They are a great option for people who want to downsize to a smaller living space or for business owners needing to expand their current operations.
Larger storage units are often similar in size to a garage, and can be used for the contents of a whole house. They can also be used for vehicles and large inventories. Some facilities even offer vehicle storage in a protected indoor environment.
The smallest storage unit is a five by five foot unit, and can hold a few boxes or some small furniture items. These are usually rented out to people who are cleaning out their garages, doing a major decluttering project, or moving to a new home. They are also good for storing seasonal items or outdoor gear.
Payment Options
Self storage businesses can take a number of different approaches to accepting customer payments. Some facilities offer credit card payment options through a point-of-sale (POS) system that can be used in-person or remotely, while others are entirely online and accept credit cards, e-checks and even automated payments from customers’ bank accounts. Whatever the option, it’s essential for a business to be able to accept electronic payments to minimize paper waste and streamline processes, especially for busy sites.
A conventional loan from a financial institution is one of the most common financing methods for self storage operations. Typically, these loans require a down payment and will come with an interest rate. However, they can be difficult to obtain if your business is new or lacks a strong track record. Many lenders will also require a high level of collateral in order to feel comfortable underwriting a loan.
Alternatively, you could choose to get a bridge loan, which is ideal for operators that are undertaking renovations or expansion projects. These loans are typically short-term arrangements, lasting six months to four years, and can carry higher interest rates than other lending products. However, they can help you secure funding quickly and allow you to line up permanent financing before the term of the loan expires.
Another option is to use a specialized payment processor that caters to the needs of self storage businesses. These solutions can help you streamline your transaction processes, improve customer satisfaction and reduce the risk of chargebacks. They can also help you implement tiered pricing models to reduce your processing costs. For example, some models will levy a fee based on a percentage of each payment, while others may have flat fees per transaction.
Using a payments solution that is PCI DSS Level 1 compliant is another great way to reduce the amount of paperwork you have to deal with. It will also provide you with valuable data about customer trends and payment types, which can help you make informed decisions about your business’s future. It can be easy to overlook the importance of a solid finance and payment platform for your business, but it’s essential for running a successful self storage facility.
Security
The security measures taken by a self storage facility play a large role in how safe and secure customers feel about storing their belongings there. Thieves and vandals are less likely to target a well-secured location, as they know they have a much higher chance of getting caught in the act. While many facilities use various physical and digital security solutions, nothing deters criminals quite like an on-site security guard. Regular patrols ensure that no unauthorized individuals enter sensitive areas of the property and can quickly detect any signs of trouble.
Some self storage facilities even offer individual alarms for each unit, so tenants can monitor their belongings and receive instant alerts if there’s a problem at their own unit. This feature provides an extra layer of protection and can help ease the minds of tenants, who often have to store valuable items like electronics and furniture.
Other security features that make a facility more appealing to potential customers include high-quality perimeter fencing, an access control system for entering the site, and cameras for monitoring the property. The latter two are a great visual deterrent and can prevent theft and other types of crime from occurring, as they show thieves that there’s a good chance their activities will be caught on camera.
If a customer is worried about whether their belongings are safe at the facility, they can ask the management staff for more information about the security measures that are in place. This may include everything from an electric security fence to access-controlled gates to a video surveillance system that records activity throughout the premises.
When asking about security measures, customers should also enquire about whether the facility has an on-site manager or security guard. Some locations take things a step further and have security guards that live on site, so there’s always someone around to keep an eye on the property and respond immediately to any suspicious activity.
While a self storage facility should have numerous security measures in place, it’s up to tenants to take their own precautions and ensure that their belongings are safe within their units. They can do this by ensuring that their padlocks or cylinder locks are secure, by regularly checking that their belongings are intact and undamaged, and by reporting any signs of tampering to the facility’s manager right away. In addition, they can reduce the risk of tampering by sharing their access codes with people they trust only to visit their storage units.