Boats and RVs are vacation staples that enable vacationers to explore picturesque attractions and escape the hustle and bustle of the city. This is why for someone looking for residual income, RV and boat storage services are the way to go. This is because there are communities that may restrict the parking of RVs and boats in driveways and streets. In Tacoma, this is an excellent opportunity that self-storage owners should take advantage of.
However, it is essential to arm yourself with knowledge so you can reap the rewards of boat and RV storage. One thing you need to consider is the type of storage you are going to offer and the services you are going to provide.
Factors to consider when starting RV and boats storage rental services
Tacoma’s economics are vital factors to take into account when deciding on the type of services and storage to offer. Large vehicle structures come in three basic configurations with the canopy as the simplest as it only has a roof. The manger style is the second configuration, which is enclosed on three sides. The third configuration is an enclosed individual unit.
More often than not, starters have a notion that building a canopy or manager unit is less expensive, but looking at the bigger picture will make you realize that the three configurations need additional strength and deeper footings.
The width, depth, and height will also be the determining factors for the type of boat and RV storage units you should consider. In addition to the vehicle, space should also be capable of accommodating additional fixtures, such as tow bars, air-conditioning units, motorcycle racks, and much more. On average, 12 feet is the minimum unit width and 45 to 50 feet is the maximum depth. The construction cost must not be set aside as it is also an important factor.
The configuration will have a significant impact on the tax assessment. Fire sprinklers can also increase construction costs and operational expenses. Even if you only consider canopies, it may cost more as a certain size may also require sprinklers. Without a doubt, the construction is the greatest expense when putting up RV and boat storage. If you intend to increase the size, you will need to anticipate the increased construction cost.
Once you have decided on the configuration for your boat and RV storage, you will also have to think of the products and services you will offer that will be in conjunction with your business. The products and services you will offer will depend on your customers. There are vacationers who prefer to spend their vacation the best way possible and a more convenient facility will not only earn tenants but also keep them.
Electricity and water are deemed to be the most desired and preferred services. Water comes with the service and customers do not usually pay extra fees for it. On the other hand, electricity can either be offered for a flat rate or metered. Aside from these utilities, propane stations, wash, dump, and valued commodities such as glass wipes, ice, coffee, etc., are also popular add-ons.
Before you decide what products to offer, you need to consider the potential income and initial cost vs. expense and risk. If you plan to offer vehicle-prep services, which will involve accessing a tenant’s RV or boat, then keep in mind that this also involves additional legal responsibilities and insurance.
Security is paramount for storage rentals. Just like products and services, the security features will also depend on your customers. The perimeter fencing is the basic feature you should add to your storage. It can either be solid block walls or chain link and razor.
If your storage service offers 24-hour access, you need key-coded entry gates and camera surveillance. As much as possible, install a camera in a location where it can easily capture license plates during the entrance and exit. Proximity card readers can also be added if tenants have stored vehicles. Storage rental service owners may even take security to the next level by opting for more sophisticated alarm and security systems.
The requirements and challenges that come with operating a storage facility for RV and boat no longer come as a surprise. However, to ensure that you will have a smooth and problem-free operation, you need to take note of the legal requirements of vehicle storage. The legalities of vehicle storage differ from traditional self-storage.
Since boats and vehicles are titled property, the storage owner’s lien rights will be affected. If the properties are not zoned for storage use, it can also be a big problem especially if it is outdoors. You should also consider local ordinances even if outside parking has been allowed in the area. If you want to start outside storage, check the local zoning ordinances and restrictions to prevent governmental intervention.
It is common for most rental agreements to have expectations from tenants to store personal property. However, there are rental agreements that do not recognize the car, boat, and RV storage, and liabilities for this type of storage may be left unrecognized. For self-storage owners who have decided to accommodate vehicles, amending leases should be essential as this addresses liabilities and even reduces the occurrence of legal issues.
Tenants must also provide specific information to the storage facility including describing the property being stored. The description should include the vehicle’s make, model, color, year, serial number, and license number. If a tenant fails to pay for the storage fee, the storage operator will be forced to sell the property being stored. It is also required for the facility operators to obtain information about lien claims and security interests.
Knowing the cost, special requirements, and legal responsibilities of operating RV and boat storage facility will give you greater peace of mind. Regardless of the services, products, and level of security you offer, you need to keep your tenants or customers in mind. Boat and RV storage facility is meant to accommodate vehicles while also giving tenants more time to enjoy their vacation.