Self Storage Profits on the increase with rentals rates up 10%

By Marc Goodin

With rental rates up nation wide, its not only going to be a banner 2021 but the rental trends are looking good for 2022 and beyond!


While the average rental rates are up around 10% in some cities like Miami and Houston they are up over 15% year over year.


People are moving more; they are cleaning out the house to make room for a home office or 2. People are realizing the time to enjoy life is now and yes they really do want their garage backs. More conversions from owning a home to renting and visa versa. Moving more often as many jobs no longer tie you to the office. And of course, remodeling is on going.


And this is for the average rent increase. If your a premium facility your rent increase should be higher! If you have not raised your street rates in 6 months do it now! If your 10 x 10 was $150 time to make it $169.99



During the design process ask yourself every day, what is going to make my facility special for our renters. And then everyday for the first year you are open.


Get more information on the Storage Authority Franchise Opportunity: www.storageauthorityfranchise.com/opportunity3


Marc Goodin is President of Storage Authority Franchising. He owns 3 self storages he designed, built and manages. He has been helping others in the self storage industry for over 25 years. He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales and operations questions. His best selling self storage books are available at amazon.