Multifamily apartment complexes have a huge presence in the United States. Some of these complexes provide homes for thousands of families. When there are so many people living in one place onsite storage solutions are an amenity that every apartment owner should consider providing for the renters. It may seem like it would cost a huge chunk of change to implement a set of storage bins, but in all actuality, it might cost more to not have them in place.
Apartments Need Secure Storage
Regardless of if the apartment property provides storage or not, the tenants need a place to store their extra belongings. Some of the renters will rent off-site storage units and pay for space elsewhere. Many of the renters will try to store their extra belongings on the ground at the top of their parking space, in the hallways, or on their balconies. When multiple renters do this, the belongings that they store there build up and cause the whole complex to look like a cluttered mess of bikes, toys, and holiday decorations. Not only does the clutter look terrible, but it also attracts thieves and other pests.
Cheap Wire Mesh Does Not Work
Some apartment owners in an attempt to save money will install wire mesh cage storage facilities on the site. It is important to understand that installing wire mesh storage boxes will only create more problems. It will cost about as much money to install secure, enclosed storage units as it will to install wire cages. Wire mesh storage units:
- Attract thieves
- Look horrible
- Lack privacy
- Lack security
It may seem cost-effective to implement a wire mesh storage solution, but in the end, it can end up costing much more money than saving.
Wire mesh lockers do nothing to provide privacy or security. Yes, they can be manufactured to put a strong lock on them, but what about the wire itself? Any thief can walk right up and cut the wire away with bolt cutters or a strong pair of wire cutters. Besides being easy to break in to, they allow anybody and everybody to see what is inside of them. When thieves know of an easy place to steal from, they most likely will be back again and again.
Renters Prefer On-Site Storage
A recent study revealed that 97% of the renters asked whether or not they prefer on-site storage undoubtedly chose to have a storage solution that was in the apartment complex that they lived in. This should be obvious to anybody. What person would rather spend more money and have to travel across town in order to tend to their stored property?
What is great about this discovery is that many of the renters that said that they prefer on-site storage would be willing to pay more than $100 extra per month to have it. An extra $100 per month per tenant could add up to be a great deal of money.
As we mentioned earlier, installing secure storage bins on a property might be much more affordable than one would imagine. To take that a step further and look at the overall value that a storage solution would add to the property itself, you can see that the property could actually lose money from not having on-site storage available. From lost tenants to the deteriorating value of the property, the only smart choice would be to install storage units for the renters. All in all, it would be more cost-effective and beneficial to implement a solid storage solution than to not have one at all. Doubt it? Just take a look around the internet and see how your competitors are getting your tenants. It may come to a point where you will have more vacancies than tenants because everybody else is providing storage.