With millions of new Americans discovering the joys of outdoor adventure in their RVs and boats, storage facilities that cater to this niche are on everyone’s radar as the next big investment opportunity. Savvy investors are starting to see the RV and boat storage industry as a largely untapped market with major potential.
Before you dive in, you should be prepared for some of the common operating expenses you’re likely to incur in your RV and boat storage business.
Modern Tenants Expect More
Whether you are thinking about upgrading a current storage facility to accommodate RVs, boats, and toys or building a new storage business, you’ll have to remember that the best customers are looking for more than just a place to park their beloved (and expensive) recreational toys. These high-end tenants often bring high-end expectations and different needs.
Modern Amenities for RV & Boat Storage Facilities:
- Dump Stations
- Water-Filling StationsElectric Hookups in Units
- Temperature ControlVehicle Wash Bays
- Enhanced Security
- Winterizing Service
- Online Conveniences
- Cleaning and Valet Services
Amenities like these come with higher upfront costs in addition to ongoing costs to operate. However, tenants looking for these amenities will also be ready and able to pay a premium for excellent service and care.
Managing Ongoing Operating & Maintenance Expenses
No matter the size or location of your RV and boat storage facility, site maintenance is critical.
Machinery like rolling doors, access gates and HVAC systems will all eventually need service or replacement. Building materials like flooring, pavement, and paint will need regular upkeep or will look neglected over time. Roofing will need to be regularly inspected and leaks repaired swiftly. Landscaping also requires regular attention.
Some of the top expenses involved in operating a RV, boat and toy storage business include:
- Doors and Gates
- Restrooms and Wash Bays
- Landscaping and Snow Removal
- HVAC Systems
- Plumbing and Electric
- Paint, Flooring, and Pavement
- Staffing and Training
- Marketing and Outreach
- Taxes, Permits, and Insurance
Owners and staff are usually able to handle simple day-to-day needs and even some moderate repairs when needed, leaving the larger projects for a trusted contractor. But keep in mind, office managers should be available to help tenants first, not troubleshooting the HVAC.
Help Getting Started
Yes, there are a lot of expenses involved in running a successful RV and boat storage facility, but the investment is well worth it – we’ve seen it. We’d be happy to help guide you through the process as a partner you can trust. Connect with us.