What is a storage condominium?
An individual storage condo that is part of a multi-unit building. A condo buyer takes ownership of a unit(s) and owns it as real property. The owners of all the individual units jointly own the building exterior and common areas, including the land/real estate.
Why should I own a storage condominium?
After the initial down payment, the costs of ownership are about the same as renting. Later, the unit can be sold at an appreciated value, recapturing the investment and profit. And, since you own it you can customize your condo almost any way you like.
Is a storage condominium a smart investment?
Absolutely. Since you’re buying real property, each dollar spent in improving your unit increases your value, especially your resale. In fact, most units of this kind have more than doubled in value over the last ten years.
Can I rent out my storage condominium?
Yes. Storage condos are ideal as rentals for several reasons:
- Unlike a home or apartment building – where the owner usually pays the water & sewer (part of HOA dues), taxes, insurance, and maintenance – a storage condo allows the renter to pay all these things on top of the monthly rent.
- Storage condos are extremely low maintenance. A storage condo has no carpets to clean, yards to maintain, appliances to repair, etc.
- Some of our storage condos have a 13’x14’ roll-up door at each end, so the condo can be divided into two separate storage areas in any dimension you need. Rent out one side or both, it’s up to you.
What is the energy source for each storage condominium unit?
Electric and natural gas. All units have 100, 220V-100 amp service.
What type of fire protection will the storage condominium unit have?
Fire hydrants and sheet rocked interiors.