A feature that developers and owners of self-storage properties are adding to increase the appeal to more users is climate-controlled space for storage of microfilm, computer records, antiques and other sensitive materials.
Higher Rental Income
In one area, local companies were asked if they would be interested in a climate-controlled storage facility and the answer was yes. Encouraged by the favorable market indications, builders constructed climate-controlled storage facilities, essentially for two reasons:
• First, the new facility would dominate the market for storing sensitive goods. That domination would offer assurance of high occupancy levels and protect the investment against future competition. The better market penetration and long-term occupancy of a climate-controlled facility were persuasive elements for investors and lenders.
• Second, the new facility would have a measurable higher resale value. Higher rental charges for storage in the climate-controlled areas meant not only a higher amount of current income but also a higher total rate of return on the investment and a higher capitalized value for the property.
For Households, a substantial market may well exist in many up-scale communities for climate-controlled personal storage space.