We love talking about how good of an investment self-storage is, with good cause of course. We just read a great article, “The Economics of Self-Storage, The Golden Hoard” from The Economist. The article talks about how surprising it is that the self storage industry does so well.
Here is a short excerpt. “THE best businesses take unpromising inputs and conjure from them a stable stream of profits. Self-storage firms fall into this category. They offer space-strapped customers a secure nest in which to store things they don’t need right now but can’t bring themselves to throw away. They invest in land most developers would shun and use tenancy contracts that would make other landlords shudder.”
Did you know one in ten families in the U.S. use self-storage? It’s true. So considering how badly commercial properties have taken a hit, how is the self-storage industry doing so well? See the full article. It may surprise you, but we can’t say it surprised us.