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Are storage units good passive income?

Operating expenses of a self-storage facility are about 50% less than other commercial property types such as multifamily and office. The extra net operating income that self-storage properties produce compared to other investments can generate some pretty impressive returns for the passive income investor.

Is owning a storage unit business profitable?

Your profit will depend on several factors, including the size and location of the facility, whether you used a loan to acquire the property and how youre using the facility to generate income. A self-storage facility can earn an average of $350,000-800,000 a year.

Can you register a business to a storage unit?

Unfortunately, you cannot legally register a self storage unit as your business location nor can you invite employees to work from it with you as an official office space.

What happens if you sleep in a storage unit?

Anyone who gets caught sleeping in a storage unit will likely face immediate eviction as well as potential criminal charges, especially if children are sleeping in the storage unit as well.

Can I use a storage unit as a workshop?

You can use your storage unit as a workshop, as long as youre not storing anything flammable or combustible. Self storage units provide the ideal place to keep business documents, without having to fork out for expensive office space.

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