Increase Value by Adding Storage


Everybody has stuff. But not all apartments have places for people to put their stuff.


If your multi-family units have private and secure storage, your units will have an advantage over other apartments, and you’ll have more, qualified prospective tenants to choose from.


Storage can mean a lot of different things. It could mean space in the basement. It could mean well-laid out closet and organization systems in the kitchen and bathrooms. It could mean garage space, or even small shed-like structures.


Having storage is convenient for storing boxes, seasonal clothes, photo albums, bikes, and more.


You might be able to charge a monthly rent simply for the storage. The rent is $950, but for $975 you can use the shed for storage. That would be an extra $300 each year. Per shed. And again, at a 6% cap rate, that increases the value of your building by $5000.

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