Posted by Auctioneer on November 25, 2010 at 07:55:09:
Brenda, you may be on to something. I’ve actually thought about buying storage sheds and bonusing my better single family renters and also renting them as an upsale to the others. My reason though was two fold. One obviously is to make more money. But the second which really is the same thing… I read a very impressive study that the more storage and stuff a renter had the longer they stayed put. In the single family rental business turnover is our greatest expense. Hence, one of the big reasons the MHP is one of my favorite rental properties. If you think about it… the MHP renters stay put for the same reason. It would cost them too much to move.
Back to the storage shed idea, it’s doable. I could try it with maybe 2 sheds at first. Also sheds are fairly easy to move ($100 roll back charge).
btw - I do charge $25 more for the spaces that have carports in the MHP. Also I own a small interest in a self storage place. It’s like anything else, not all roses. My company doesn’t manage it (thankfully) but I do the Auctions on the delinquent units. Sometimes it’s not a pretty scene. If I did not have a stake in it I wouldn’t do those sales.
Thanks Brenda, happy Thanksgiving to you and all who read this post!!!