Managing a self-storage facility is never going to be glamorous. All those television shows about the treasures to be found and the fortunes to be made from buying up abandoned storage must be in towns more prosperous than Monarch Beach or Jade Beach. In the time I have been in this business I have seen three units sell for enough to make a profit.
Think about it.
If you had something valuable in storage, and you knew you were going to be short on the rent, wouldn’t you, logically, take out the valuables?
If nothing else, sell them for the rent to save the unit. Right?
Most of the units that come up for sale cost more to clean out than the contents can cover. Paying someone to haul the debris to the dump so the unit can be cleaned and rented again is expensive. That’s the guy that makes money.
Most of the units that do sell go to dealers, those with a place to sell the assorted pre owned merchandise, usually old clothes. Those with a permanent yard sale or second hand store may eventually turn over their investment.
Me? Not worth my time.
The attraction to managing a facility with on site management is the free rent, which is not free. Rent is charged monthly, then credited on your paycheck. You never see the money so your rent is never late. Utilities are free.