What to do with vacant space?

BoxwellLLC

Do you have open space on your lot? If yes, how do you maximize it? Boat/RV parking? Portable storage containers? Etc.

karen700

Boats and RVs here...I tried selling the idea of containers to boss after our past discussion...looked at my info I printed off and just nodded his head....LOL....Oh, well..

websterb

RV & Boat storage. Its easy money due to no building upkeep.

BoxwellLLC

@karen700, Sorry to hear that your boss disregarded the info. RV/boat parking requires no up-front cost so many focus on that benefit. Although storage containers require an initial investment, over time (usually at around 12-18 months) the added rental spaces can provide a greater ROI as rental rates are higher than RV/boat rates. They all add a very clean, organized look to your space as well. Everyone likes a beautiful storage site!  

karen700

@BoxwellLLC... I will continue to bring up the idea at regular intervals...he can't get off that easily! lol...More revenue for the property is a great idea and I want to help out all I can in that area.

Orkocean

Any owner looking to make the best bang for their buck in the long term gets rid of parking and puts portables or does full on construction for a new build. Every company I've been with when they purchase a new property they look for ones with open parking so they can boot those spots out and construct climate control buildings in their place. If we don't have enough room for a full building they put the portables in every spot they can.

karen700

I'm close to a lake and covered outside parking with electricity hookups is what is needed. A new property just opened up about 3 miles from me and they had pre-leased over half of their outside parking before opening. If the owners won't let go of their money to make gain for a property, and in the end their pocket book, there isn't much I can do but give them the tour of local storage properties that have "their money" now.

BoxwellLLC

@Orkocean, Agreed! Either way, creating rental units over parking brings in extra income over the long run. The benefit to portables is that they can be placed in areas where building is not possible, such as under power lines, along fence lines and easements. They can be placed on any level surface to max out storage spaces on the lot. And if you don't like where they are placed, you can move them around at any time, even when full!  

Orkocean

Plus you don't have to deal with permits/city inspections etc.. as it's not a permanent fixture/modification you're making.