Storage and warehouse space has become one of the most lucrative industries in the United States in recent years. The low overhead costs and great opportunity for earning potential has made things like car storage and boat storage great businesses with occupancy rates for self storage facilities at about 90% (percentage of units rented per facility) in Q2 2015 up from 86.8% at year-end 2013.
Year-round car storage services aren’t necessarily feasible for everybody, but if you’re in the financial position to afford such a luxury it can be a great investment today and for years to come, as most people generally plan on having such services for. About 22% of all self storage renters say they will rent for 1-2 years and 30% for more than 2 years, while 13% say less than 3 months; 18% for 3-6 months; 18% for 7-12 months.
Here are the top three reasons to consider year-round car storage for your new or longtime favorite vehicle.
- Rust/Weather: Protection from the elements is probably the number one reason for vehicle storage across the board. Weather, especially in certain parts of the country, can do significant damage to a car in terms of rust and wear-and-tear. Just make sure you top off the gas tank and get the oil changed before you leave your car unattended for more than 30 days, as moisture can develop in the fuel tank and contaminants in used oil can damage your car from the inside.
- Safety/Security: Another obvious reason to think about year-round car storage is for the security benefit. Depending on the neighborhood you live in and the kind of car you own this could be a pretty big factor. It doesn’t necessarily just protect from burglars and delinquents though. Things like a fallen tree or branches from a storm can do major damage to a car when you leave it outside in your driveway all the time.
- More Space at Home: A lot of people who might consider year-round car storage probably has a garage or barn of some kind. In fact, 65% of all self storage renters have a garage, but that kind of space can be valuable for other storage needs you need on hand quickly in an emergency, like a generator, or just for convenience, such as seasonal equipment. Instead of clogging up space with a car you only are going to drive a couple times a year for example, it would be well worth it to store somewhere else.
If you have the kind of car that’s worth taking particular care of it would be in your best interest to invest in year-round car storage for these reasons.