Home Improvement

How Car Space Storage Increases Value

Millions of apartment complexes across the  United States have learned the value of installing car space storage boxes for their tenants. Since adequate storage is high in demand from tenants, being able to provide a storage solution for renters could ultimately increase revenue from extra rent, and keep the existing renters from moving away. Not to mention, whenever you add storage solutions to an apartment complex it automatically increases the entire value of the property. In addition to giving the tenants what they are looking for in a place to live, you can generate a significant amount of extra revenue each month.

What Car Space Storage Is

In many of the larger multi-family apartment complexes that fail to provide adequate storage solutions for the renters, the tenants take it upon themselves to store their extra belongings in the area just above the hood area of their vehicle in their parking spot. Instead of storing it away in a hidden storage box, they simply leave enough room in the front of their space to put extra things for storage purposes there. Not only does this look really bad, but it can also attract thieves and other problematic pests.

The car space storage solution is an actual storage box that sits on stands that straddle the parking spot so that the vehicle can park right under the storage box.

The great thing about this kind of storage solution is that it allows the property owner to use that empty air that would otherwise just sit there to give the renters an extra storage space that can be as big as 80 cubic feet. Although it is not big enough to be the size of an extra room, it is big enough to allow for an adequate amount of extra storage for the people that live there.

How Car Storage Boxes Work

As we mentioned above, the way that the storage boxes work is that they attach to a pair of leg-like stands that hold the box in mid-air so that the car can conveniently park underneath it. What gets even better is that the boxes can stand side by side and cover the same amount of area that the parking spaces do. So, where the other cars are parked, the storage boxes can go there as well without anybody having to make any modifications to the building or the parking spaces. Unlike storage bins, they do not need to have an extra place to be cleared away to get installed.

Increasing Value

As we mentioned above the minute that you install a storage solution onto an apartment complex property, the value goes up. When you increase the value of your property, the entire value of the apartment complex goes up. Your whole property is worth more money than it was in the first place. In some instances, the property value goes up millions of dollars.

The reason why is that not only does the upgrade to the property increase the property value, but the entire potential for income raises by a decent percentage. If you take a minute to do the math, say you install 100 storage boxes for your tenants and charge each of them an extra $50 per month to have the storage. We are just using $50 as a number to fill in the blanks, but just know that some tenants are willing to pay over an extra $100 per month just to have a secure storage solution in place. This is an ongoing revenue that won’t stop and will keep pouring in long after the storage boxes have already paid for themselves. Just by installing the boxes, you can end up with an extra $5,000 per month…every month…for years to come. How’s that for increased value?