As a self-storage investor, you need to do everything you can to cut costs and make your premise as profitable as possible. While some of the costs are fixed or need to be maintained at any cost, such as fencing, automatic gate, video surveillance, insurance and employee-related costs, there are some areas that should be looked at - such as utilities.
When it comes to utilities, the most common ones are trash, water and electricity - and in the case of a climate-controlled premise - air conditioning or heat. While there isn't much room for negotiation in regards to your trash, there are some things to think in regards to water and electricity.
Air Conditioner And Heater Units
Water - You may not think a self-storage premise uses much water, but depending on the facility, there may precisely be a lot more cleanup than you would think. Retention the storehouse units, asphalt and concrete clean can use a lot of water. Plus, in some cases, the self-storage premise has grass, gardens, trees, shrubs and other plants. This all adds up.
GE AccessPoint 001795 TouchPoint 30-Key Cabinet, Clay Best
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GE AccessPoint 001795 TouchPoint 30-Key Cabinet, Clay Feature
- Locking wall-mount cabinet for storing keys
- Holds 30 keys; pushbutton lock with over 1,000 re-settable combinations
- More depth for larger key rings; 16-gauge heavy-duty steel construction
- Includes screw and wall anchors for easy mounting and setup
- Measures 12.04 by 8.11 by 3.19 inches; limited 5-year warranty
GE AccessPoint 001795 TouchPoint 30-Key Cabinet, Clay Overview
Stronger than any key cabinet in its class, this wall-mount unit is constructed from 16-gauge heavy duty steel for optimal security and durability. The cabinet holds up to 30 keys for safe storage and easy access. A pushbutton lock provides easy access and added security and convenience. A unique clutch mechanism protects from forced entry. And, the entry code can be changed as often as you like, with over 1,000 possible combinations available, so you'll never have to re-key your lock again. A continuous piano hinge keeps the door in line with the cabinet for years of reliable use. Keys can be hung separately on hooks or with multiple keys on supplied key tags. Four-point mounting hardware and pre-drilled holes ensure easy, stable installation. --Brian D. Olson
Customer Reviews
*** Product Information and Prices Stored: Feb 13, 2012 23:47:44
Some ways a self-storage operator can use less water and cut down their water bill would be to adjust the sprinklers so only the lawn is watered, and not the facility, sidewalks or streets; select shrubs and groundcover that uses less water; monitor you water bill and look for leaks; use a broom to sweep up dirty areas rather than water; secure run-off water for plants; don't use automatic sprinklers; install water productive sinks and toilets; make sure your hose has a nozzle that stops the water when you're not using it.
Electricity - Compared to trash and water, this one is huge, as electricity can precisely suck up your profits. If you have a small premise with only 20 units or so, or your premise is not climate controlled, you can save by doing the same things you should do at home. A few ways to save on electricity contain turning off your computers and lights when not in use; Retention your thermostat down or controlling your air conditioner from running all the time; add a heater blanket to your hot water heater to additional insulate it; use Cfl or Led lighting instead of incandescent globes; install dimmer switches in areas that do not need full light; make sure you have energy-efficient appliances; and make sure the office is well insulated.
For larger and/or climate-controlled facilities, you can take it a step farther, depending on your investment goals. This wouldn't make sense if you only plan to operate the premise for a few years, but if you're in it for the long term, you may want to think solar power and wind energy.
Solar power can have great benefits as it generates renewable power from the sun. In the long run, it can precisely save you money once the system has paid for itself and you're now generating your own electricity. Keep in mind solar power is low maintenance, increases your asset value, and, of course, is the green thing to do. Plus, the government offers some pretty captivating renewable power rebates which can make the system very affordable and your payback time much faster.
Wind power could be thought about if your premise has a lot of land and is located in a remote, windy area. As you can see, there's fullness you can do to cut costs on utilities and make your self-storage premise greener - and more profitable.
To learn more about real estate investing.
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