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02.08.2014 admin
Self Storage Blog: The Storage Facilitator - When is the right time to sell your storage facility?
While the answer ultimately comes down to individual circumstances, a handful of market factors—including supply and demand, financing rates and consumer mobility—are highly likely to sway your decision.
High demand combined with a shallow inventory of storage properties for sale has created a classic “seller’s market,” meaning you can expect to receive top dollar for your facility–presuming business is good and you’ve kept the place in good condition. For the undecided, the same market conditions that tempt sellers also make a strong case for holding onto that cash cow for another year. Fred Steingold, a real estate attorney at law firm Hamilton Judge Schroer & Steingold in Ann Arbor, MI, said life events, rather than market timing, most often prompt decisions to sell a storage facility. Health problems: “Something unexpected may come up where you may face surgery or lack the energy or ability to continue,” Steingold said.
The thrill is gone: “When it gets to the point where it feels like drudgery, it may be a good time to think about selling,” he said. In all of these scenarios, Steingold recommended against holding out and trying to time the market.
Chiswell said the best time to think about selling is before you even enter the storage industry.

Chiswell said the immediate decision to sell or hold comes down to two words: estate planning. I sold a very lucrative business (not storage) in 2010, at the height of the economic crisis at the time. Welcome.The Storage Facilitator is the modern self-storage professional's destination for useful education, intriguing news, diverse expert perspectives, technology updates, and beyond.
Get our free white paperThe Four Pillars of Profitable Self-Storage Management is an in-depth resource that empowers facility owners and managers to get more out of your business and stay ahead. The information contained herein has been obtained from third parties and we cannot guarantee the accuracy or completeness of the information. This is a unique type of self storage facility, both within the Gillette area and the country at large. List Self Storage generates more visibility for my Midwest-based listings by providing a conduit specifically geared toward marketing to nationwide self-storage owners, operators, and investors. List Self Storage has produced more inquiries and higher quality leads for my listings than all other sites combined. List Self Storage turned out to be a valuable integration into our collaborative marketing campaigns.

Equally encouraging, interest rates remain at rock bottom, and Americans once again are on the move, chasing jobs in the recovering economy. It’s a little known fact that when the economy is in the toilet, people start looking for businesses to buy.
This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management.
It provides 44 units ranging in size from 1,050 to 1,320 square feet as opposed to the typical self storage facility that provides units from 25 to 300 square feet. These tenants have storage needs well in excess of what the typical self storage facility can provide.
Having an extensive database of my own, I use their outreach and audience as a supplement to my marketing initiatives and as a highly effective resource in driving valuable traffic to my listings. While supplying much larger units than the typical self storage facility, these units are normally considerably smaller than typically larger industrial units which could start at around 2,000 to 3,000 square feet and come with a 6 month or one year lease, instead of the month to month situation that this facility provides.

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