Wednesday, February 3, 2010
Self Storage Phoenix
If you or someone you may know is in need of Self Storage Phoenix, I would definitely recommend talking to the people at Deer Valley Mini Storage. They offer great deals on Self Storage Phoenix and vehicle parking spaces. Conveniently located in North Phoenix Arizona, Deer Valley Mini Storage should be your Self Storage Phoenix choice!
Monday, September 28, 2009
Boat Storage Questions
Boat Storage Questions/Answers:
Is it needed for a boat to be winterized, for winter storage, if it is on the inside and heated?
Yes. You'll probably want to drain the fuel or run it with some Sta-bil in itner's manual may have some tips for extended storage/warm climates , but you don't need to anti-freeze the system if there's no chance of freezing temps. Your owner's manual may have some tips for extended storage/warm climates like Phoenix Boat Storage such as flush cooling system with clean water, the lubrication of parts, etc.
How do I keep moisture away from my boat while in storage?
Damp Rid-It works. Like the salt, only better. Most hardware stores/home centers sell it. It will need to be check/refilled a couple times over the winter, but it should do great for keeping the moisture down, as long as the boat is covered tight to keep as much moisture out as possible.
How do I prevent musty smells on a boat during Winter Storage?
Keep plenty of open boxes of baking soda all over the boat. Or they sell desiccate bags at most marines shops. It stops mildew and smells and also keep bugs and mice out. But you need to ventilate the boat before going into it becuase it may cause your eyes to burn. These can be hung from the steering wheel or other places...Read the Directions
Is it okay to leave my boat fuel tanks full of ethanol during five months of winter storage?
No ethanol absorbs water out of the atmosphere and will cause rust in your tanks.
How do I winterize my boat?
1. First, get a winterizing kit that includes a 5 gallon container with hose attachment, flush-out attachment for the lower unit, and
a case of non-toxic anti freeze. And then, get a can of engine fogging spray.
2. Warm up the engine by hooking up the flush out attachment to the lower unit and a garden hose, let it run with the water on for 5
minutes. Do not start it until the garden hose is turned on.
3. Hook up the 5 gallon container to the flush out attachment with the clear hose provided.
4. Fill the container with the anti-freeze and place it on the transom.
5. Put the flush out on the lower unit over the water intakes.
6. Open the valve on the 5 gallon container so the anti-freeze flows, it will drip a lot until you start the engine. Get the flame arrestor of the engine and start it up. It will take in that 5 gallons quickly, so act fast.
7. Start shooting the fogging spray into the air intake after 1 gallon of anti-freeze is sucked in. Shoot the spray until the engine
dies out if you can, or at least until it smokes a lot.
8. Very important that you do not let the engine run out of the non-tox anti-freeze. It will have enough in it, so when you see the anti-freeze running out of the exhaust and it does not look diluted, shut the engine down, when that point as been reached. And then spray the engine down with silicone spray to keep it from corroding.
Then you also have to winterize any system that has water in it: fresh water, head, salt water wash down, etc. You should also change the engine oil before you winterize the engine, and the lower unit oil. Don't forget the engine and hull zincs. Put anti-freeze in the head, water system, and pump through all the faucets until you see the anti-freeze. Also, pump out the holding tank. Enjoy your Arizona boat storage.
Thursday, September 24, 2009
Buying Self Storage Properties in 2009
What a buyer in 2009 should be looking for today in a self storage investment.
The self storage industry like other commercial real estate markets’ is experiencing the beginning of a downward cycle in value and occupancy. The runaway ever decreasing capitalization rates of a few years ago has ground completely to a halt. These ridiculous values and low returns were fueled by cheap and easy credit, which is certainly gone. We are now back to the days where lenders actually want a property to be stabilized, before lending on the property. So CAP (capitalization rate = NOI/Price) rates have escalated dramatically in the last year and will continue to escalate. Today’s CAP rates are with some of the lowest interest rates ever seen. What happens as interest rates go up, CAP rates will undoubtedly also rise. I know very few people who think interest rates will not be going up relatively soon.
Foreclosures: I have no idea exactly how many self storage properties will be foreclosed on and sold by the banks, but it will be a big number. They are already starting to appear on the market although not as quickly as I would have thought. But, if you think about it like this: If an owner paid 3.0 million for a self storage property on a 7% capitalization rate, the Net Operating Income (NOI) would be $210,000. If they needed to sell or refinance debt that is coming due and the market is now 9% capitalization rate, the owner would have to raise the NOI by 28.6% just to break even. This extremely large increase would need to occur during a period of increasing vacancy rates and decreasing rental revenues. If they financed any significant portion chances are they can’t sell it for what they owe. A bank won’t finance it without having to put more cash in the deal because it won’t appraise for what is owed because of the increase in CAP rates.
Prices: My opinion on prices is that we are only at the beginning of a downward trend in prices. The large number of foreclosures coming and the more stringent credit markets will drive prices downward. Although, generally considered some what recession proof the self storage industry is not likely to see the “good ole days” of high occupancy rates and increasing rental rates we saw a few years ago. I believe if purchasing a self storage property in the next year or so an investor needs to be thinking in terms of prices being lower and CAP rates higher in the next few years. As I illustrated above, market CAP rates increases can be difficult to overcome when investing in income properties.
Demand: This factor can be both regional and local in nature, but for this discussion we will talk about the overall demand of self storage. Demand would appear to be hanging in there during this recession. Significant discounting is generally required and occupancy rates are down but not as much as other commercial real estate markets. My concern with regards to demand is to some of the high end self storage units and the glut of these on the market. We, as an industry encountered a huge proliferation of expensive climate controlled facilities. I question the real market long term for these units which require huge rental rates to make economic sense to build and operate. In some high income areas, these facilities will probably do OK going forward. But I see a real reluctance on the part of the self storage consumer to pay these “boutique prices” for a self storage unit, no matter how nice the facility appears. If you are buying a facility with high rental rates be conservative when projecting future rental rates.
As a general rule I would recommend being patient and conservative when looking for a self storage investment in 2009. Deals can be made now, an investor just needs to think about 3 years from now not 3 years ago and if you are looking to sell I would tell you to be realistic and get what you can now because the longer you wait chances are the less you will get.
The self storage industry like other commercial real estate markets’ is experiencing the beginning of a downward cycle in value and occupancy. The runaway ever decreasing capitalization rates of a few years ago has ground completely to a halt. These ridiculous values and low returns were fueled by cheap and easy credit, which is certainly gone. We are now back to the days where lenders actually want a property to be stabilized, before lending on the property. So CAP (capitalization rate = NOI/Price) rates have escalated dramatically in the last year and will continue to escalate. Today’s CAP rates are with some of the lowest interest rates ever seen. What happens as interest rates go up, CAP rates will undoubtedly also rise. I know very few people who think interest rates will not be going up relatively soon.
Foreclosures: I have no idea exactly how many self storage properties will be foreclosed on and sold by the banks, but it will be a big number. They are already starting to appear on the market although not as quickly as I would have thought. But, if you think about it like this: If an owner paid 3.0 million for a self storage property on a 7% capitalization rate, the Net Operating Income (NOI) would be $210,000. If they needed to sell or refinance debt that is coming due and the market is now 9% capitalization rate, the owner would have to raise the NOI by 28.6% just to break even. This extremely large increase would need to occur during a period of increasing vacancy rates and decreasing rental revenues. If they financed any significant portion chances are they can’t sell it for what they owe. A bank won’t finance it without having to put more cash in the deal because it won’t appraise for what is owed because of the increase in CAP rates.
Prices: My opinion on prices is that we are only at the beginning of a downward trend in prices. The large number of foreclosures coming and the more stringent credit markets will drive prices downward. Although, generally considered some what recession proof the self storage industry is not likely to see the “good ole days” of high occupancy rates and increasing rental rates we saw a few years ago. I believe if purchasing a self storage property in the next year or so an investor needs to be thinking in terms of prices being lower and CAP rates higher in the next few years. As I illustrated above, market CAP rates increases can be difficult to overcome when investing in income properties.
Demand: This factor can be both regional and local in nature, but for this discussion we will talk about the overall demand of self storage. Demand would appear to be hanging in there during this recession. Significant discounting is generally required and occupancy rates are down but not as much as other commercial real estate markets. My concern with regards to demand is to some of the high end self storage units and the glut of these on the market. We, as an industry encountered a huge proliferation of expensive climate controlled facilities. I question the real market long term for these units which require huge rental rates to make economic sense to build and operate. In some high income areas, these facilities will probably do OK going forward. But I see a real reluctance on the part of the self storage consumer to pay these “boutique prices” for a self storage unit, no matter how nice the facility appears. If you are buying a facility with high rental rates be conservative when projecting future rental rates.
As a general rule I would recommend being patient and conservative when looking for a self storage investment in 2009. Deals can be made now, an investor just needs to think about 3 years from now not 3 years ago and if you are looking to sell I would tell you to be realistic and get what you can now because the longer you wait chances are the less you will get.
Thursday, September 17, 2009
Phoenix Self Storage Tips
When packing a storage unit in Phoenix if you follow these tips your items will hold up much better in storage and you will be more efficient in your use of space.
Item by item Storage Phoenix Tips
Appliances: A refrigerator or freezer should be thoroughly dry and stored with its door slightly ajar. Some items can be stored inside large appliances. Cartons can be stacked on top of stoves, refrigerators and freezers. Make sure that stove and cooking equipment are cleaned before they are stored.
Bicycles and other metal items: To retard rust, wipe all metal surfaces with a rag containing a few drops of machine oil.
Dishes and Glassware: Place a layer of packing inside the bottom and top of the cartons containing glassware. Label all cartons. All glass items should be individually wrapped. Nest cups and bowls and stand plates, saucers and platters on edge. Wrapped glasses should be placed toward the top of the carton.
Furniture: Place a pallet, cardboard mat or plastic sheet on the floor and stand sofas and mattresses on end. Disassemble beds and tables and wrap the legs in paper. If a table will not disassemble, place padding on the floor and place the table on its top with the legs pointing up. Use dresser tops for stacking cartons and dresser drawers for linens or small, delicate items. Keep upholstery off the floor. Most lightweight chairs should be stacked "seat to seat" or placed upside down on tables, which cannot be disassembled. Place a light dust cover over your furniture.
Mirrors, Windows and Screens: These items should be stored on edge not flat.
Tools: Metal tools should be cleaned and wiped with a rag containing a few drops of machine oil to retard rust. Long-handled tools such as rakes, shovels and hoes should be clean, lightly oiled and tied in bundles.
Tips for packing your self storage Phoenix unit:
1) Plan your use of space, don't just start packing the unit without an idea of what should be where.
2) Do not lean items against walls. Leaving air space around the unit's perimeter will aid ventilation. Leave a walkway to the rear of the unit. Use all the space available, including its height. Disassemble items such as bed frames.
3) Place frequently needed items near the door.
4) Fill containers to capacity. Partially full or bulging cartons may tip or collapse. Heavy items such as books or tools should be packed in small boxes.
5) Label cartons and take home a list of the labeled cartons for easy reference when you need to locate your property.
Item by item Storage Phoenix Tips
Appliances: A refrigerator or freezer should be thoroughly dry and stored with its door slightly ajar. Some items can be stored inside large appliances. Cartons can be stacked on top of stoves, refrigerators and freezers. Make sure that stove and cooking equipment are cleaned before they are stored.
Bicycles and other metal items: To retard rust, wipe all metal surfaces with a rag containing a few drops of machine oil.
Dishes and Glassware: Place a layer of packing inside the bottom and top of the cartons containing glassware. Label all cartons. All glass items should be individually wrapped. Nest cups and bowls and stand plates, saucers and platters on edge. Wrapped glasses should be placed toward the top of the carton.
Furniture: Place a pallet, cardboard mat or plastic sheet on the floor and stand sofas and mattresses on end. Disassemble beds and tables and wrap the legs in paper. If a table will not disassemble, place padding on the floor and place the table on its top with the legs pointing up. Use dresser tops for stacking cartons and dresser drawers for linens or small, delicate items. Keep upholstery off the floor. Most lightweight chairs should be stacked "seat to seat" or placed upside down on tables, which cannot be disassembled. Place a light dust cover over your furniture.
Mirrors, Windows and Screens: These items should be stored on edge not flat.
Tools: Metal tools should be cleaned and wiped with a rag containing a few drops of machine oil to retard rust. Long-handled tools such as rakes, shovels and hoes should be clean, lightly oiled and tied in bundles.
Tips for packing your self storage Phoenix unit:
1) Plan your use of space, don't just start packing the unit without an idea of what should be where.
2) Do not lean items against walls. Leaving air space around the unit's perimeter will aid ventilation. Leave a walkway to the rear of the unit. Use all the space available, including its height. Disassemble items such as bed frames.
3) Place frequently needed items near the door.
4) Fill containers to capacity. Partially full or bulging cartons may tip or collapse. Heavy items such as books or tools should be packed in small boxes.
5) Label cartons and take home a list of the labeled cartons for easy reference when you need to locate your property.
Wednesday, September 16, 2009
How To Get The Most Out Of Your Self Storage Unit.
Renting a self storage unit gives you far more opportunity than simply having more room where one can store extra items that just won't fit in the closets in your home, your garage or your attic. In order to get the most out of your self storage unit, keep these tips in mind to learn how to get more out of your self storage rental.
Tip #1: Stay Organized!
Try not to treat the storage unit you rent like you might treat your closets, garage or attic. In other words, maximize the space of your self storage unit you rent by keeping it clutter free at all times, so that you can easily access and use the items that you need at any time. Store similar items with or near one another and maintain neat rows and stacks for all of the items that are stored within your mini storage unit. When you have more containers to add to your self storage unit, make sure that they are added in an orderly fashion, instead of simply being shoved inside. Mark all boxes and containers and keep a detailed list of where everything i9s for easy reference later on. This will help when it comes time to find something in your storage unit.
Tip #2: Not Just For Clutter!
Your self storage unit does not have to be another messy closet in your house. Instead of using it to keep safe random pieces of unrelated clutter, use your storage unit for a purpose. Mini storage units are an excellent place to store an array of items in one safe and secure location. For example, if you are involved in a club or organization that uses certain items that may be hard to keep safe and secure, you can dedicate an entire self storage unit to keeping all items stored together and have easy access at any time you need. This is not the only use for a self storage unit. You can also use your mini storage unit to organize your own personal stuff. If you are into antiques but lack the space in your own home to display your collection, keep them all together in a climate controlled self storage unit. If you have a million baseball cards or perhaps collect other items like memorabilia and keep it all together in the secure environment of your very own personal self storage unit.
Tip #3: Plan for the Future
When you are remodeling your house, buying new appliances for your kitchen or new furniture for your home, it may be difficult to resist throwing all of your old items away. Do you have children or other relatives who will be starting out on their own in the next few years? If your used items are in relatively good condition, you can hold on to them to give your kids or relatives and give them a head start on all of the things that they will need while living on their own. Furniture and other household items can be very expensive to buy new, and chances are that the money you spend on a storage unit will be far less than the cost of buying all of those items in the future. You can get more out of your storage rental by keeping those items to use when those you love need them, rather than by helping them to buy new items in the future.
Tip #4: Your 21st Century Office
Well, not literally. But welcome to your warehouse! Many people run home businesses, selling a variety of items to people around the world through the power of online businesses. It can be very difficult to keep the kind of inventory necessary to run your business within your home. Why clutter up your own home with your inventory, organize it efficiently in your personal North Phoenix self storage unit. As soon as you sell an item, if you have a detailed list of where everything is at, you will know exactly where to find it in your mini storage warehouse. No longer will you have to wonder where it is stored – instead, you’ll always have perfect order to your items. In addition, you will get a lot out of your storage rental because the cost of the rental can be written off as a business expense!
Tip #5: Share a Larger Unit
Self storage units are cheaper per square foot the larger the size unit you rent. For some people, even the smallest storage unit is a little too large. If you only have specific items that you want to store in your Phoenix storage unit, considering finding a friend or family member to split the cost of the unit with you. This will allow both of you to rent space for a lot less than you could rent individually. Make sure that it is someone who can be trusted to keep their half organized and neat. In addition, make sure you agree under whose name the unit will go and how payments will be managed. But once the logistics are worked out, you and your storage unit partner will begin to reap the great rewards of a self storage unit at a significantly lower cost.
Tip #1: Stay Organized!
Try not to treat the storage unit you rent like you might treat your closets, garage or attic. In other words, maximize the space of your self storage unit you rent by keeping it clutter free at all times, so that you can easily access and use the items that you need at any time. Store similar items with or near one another and maintain neat rows and stacks for all of the items that are stored within your mini storage unit. When you have more containers to add to your self storage unit, make sure that they are added in an orderly fashion, instead of simply being shoved inside. Mark all boxes and containers and keep a detailed list of where everything i9s for easy reference later on. This will help when it comes time to find something in your storage unit.
Tip #2: Not Just For Clutter!
Your self storage unit does not have to be another messy closet in your house. Instead of using it to keep safe random pieces of unrelated clutter, use your storage unit for a purpose. Mini storage units are an excellent place to store an array of items in one safe and secure location. For example, if you are involved in a club or organization that uses certain items that may be hard to keep safe and secure, you can dedicate an entire self storage unit to keeping all items stored together and have easy access at any time you need. This is not the only use for a self storage unit. You can also use your mini storage unit to organize your own personal stuff. If you are into antiques but lack the space in your own home to display your collection, keep them all together in a climate controlled self storage unit. If you have a million baseball cards or perhaps collect other items like memorabilia and keep it all together in the secure environment of your very own personal self storage unit.
Tip #3: Plan for the Future
When you are remodeling your house, buying new appliances for your kitchen or new furniture for your home, it may be difficult to resist throwing all of your old items away. Do you have children or other relatives who will be starting out on their own in the next few years? If your used items are in relatively good condition, you can hold on to them to give your kids or relatives and give them a head start on all of the things that they will need while living on their own. Furniture and other household items can be very expensive to buy new, and chances are that the money you spend on a storage unit will be far less than the cost of buying all of those items in the future. You can get more out of your storage rental by keeping those items to use when those you love need them, rather than by helping them to buy new items in the future.
Tip #4: Your 21st Century Office
Well, not literally. But welcome to your warehouse! Many people run home businesses, selling a variety of items to people around the world through the power of online businesses. It can be very difficult to keep the kind of inventory necessary to run your business within your home. Why clutter up your own home with your inventory, organize it efficiently in your personal North Phoenix self storage unit. As soon as you sell an item, if you have a detailed list of where everything is at, you will know exactly where to find it in your mini storage warehouse. No longer will you have to wonder where it is stored – instead, you’ll always have perfect order to your items. In addition, you will get a lot out of your storage rental because the cost of the rental can be written off as a business expense!
Tip #5: Share a Larger Unit
Self storage units are cheaper per square foot the larger the size unit you rent. For some people, even the smallest storage unit is a little too large. If you only have specific items that you want to store in your Phoenix storage unit, considering finding a friend or family member to split the cost of the unit with you. This will allow both of you to rent space for a lot less than you could rent individually. Make sure that it is someone who can be trusted to keep their half organized and neat. In addition, make sure you agree under whose name the unit will go and how payments will be managed. But once the logistics are worked out, you and your storage unit partner will begin to reap the great rewards of a self storage unit at a significantly lower cost.
Sunday, August 23, 2009
Expectations upon renting a storage unit.
For the purpose of this post we will assume a customer (tenant) has decided to rent a storage unit.
Lease: In almost all situations when renting a mini storage unit the tenant is required to sign a lease. This lease is almost always month to month. The tenant is usually required to give some sort of notice before vacating could be 5 to 30 days. The lease will also probably provide for the landlord to sell at auction the contents of your unit(s) should you become more than the required days past due. This probably ranges from 45 to 120 days.
Identification: Will vary by location most will require photo id, some may require fingerprints, or they might take your picture. Basically, you should be prepared to prove who you are before renting a self storage unit.
Administrative Fee: This is a one time fee that most self storage businesses will charge. It is a fee to set up your account and complete all the required paperwork to initiate the rental. This fee will vary from around $5 to $25/30.
Lock: With maybe a few exceptions most storage rentals require the tenant to furnish their own lock. The tenant keeps the key(s) and is the only one with access to the unit. The storage facility should not remove your lock unless you are seriously delinquent, instructed to by the tenant or a search warrant.
Due Date: Most self storage properties use an anniversary date system. Which means a tenant’s rent is due each month on the date that unit was originally rented. Some may pro-rate the first or second month and the payment will be due each month on the 1st. Payments must be made within the specified (in the lease agreement) time period or the self storage has the right to charge the late fee provided for in the lease agreement.
Payment: The tenant is required to pay for the first month’s charges upon signing the lease. Forms of payment generally accepted are: cash, checks, money order and credit cards. Most self storage properties do not charge a security deposit on move-in. After the initial month subsequent monthly rental payments are due in advance. Most self storage operators do not send out invoice’s each month, unless you request (and probably pay) for one.
Access: The storage facility will give the tenant either a key card or a “code”, usually numbers, to access the tenant’s unit. This card or code will allow the mini storage to track when you arrive and when you leave. If you are behind on your payment you may find that your access will be denied, until your account is brought current. Some storage companies may offer 24 hour access, but most will limit it from early morning to late evening.
Rate Increases: The landlord (self storage) has the right to raise the rental rate of any unit with the proper notice to the tenant. This will be almost always at least 30 days and different states and leases may require the landlord to provide more notice.
Vacating: After giving the proper notice when the tenant is finished with the storage space it is always a good idea to leave the space in the same condition as it was at the time of rental. Most North Phoenix self storage facilities, will not require the tenant to sweep the unit. The tenant should take everything stored on the premises with them upon moving out. If it is RV Storage Phoenix just drive away!
Lease: In almost all situations when renting a mini storage unit the tenant is required to sign a lease. This lease is almost always month to month. The tenant is usually required to give some sort of notice before vacating could be 5 to 30 days. The lease will also probably provide for the landlord to sell at auction the contents of your unit(s) should you become more than the required days past due. This probably ranges from 45 to 120 days.
Identification: Will vary by location most will require photo id, some may require fingerprints, or they might take your picture. Basically, you should be prepared to prove who you are before renting a self storage unit.
Administrative Fee: This is a one time fee that most self storage businesses will charge. It is a fee to set up your account and complete all the required paperwork to initiate the rental. This fee will vary from around $5 to $25/30.
Lock: With maybe a few exceptions most storage rentals require the tenant to furnish their own lock. The tenant keeps the key(s) and is the only one with access to the unit. The storage facility should not remove your lock unless you are seriously delinquent, instructed to by the tenant or a search warrant.
Due Date: Most self storage properties use an anniversary date system. Which means a tenant’s rent is due each month on the date that unit was originally rented. Some may pro-rate the first or second month and the payment will be due each month on the 1st. Payments must be made within the specified (in the lease agreement) time period or the self storage has the right to charge the late fee provided for in the lease agreement.
Payment: The tenant is required to pay for the first month’s charges upon signing the lease. Forms of payment generally accepted are: cash, checks, money order and credit cards. Most self storage properties do not charge a security deposit on move-in. After the initial month subsequent monthly rental payments are due in advance. Most self storage operators do not send out invoice’s each month, unless you request (and probably pay) for one.
Access: The storage facility will give the tenant either a key card or a “code”, usually numbers, to access the tenant’s unit. This card or code will allow the mini storage to track when you arrive and when you leave. If you are behind on your payment you may find that your access will be denied, until your account is brought current. Some storage companies may offer 24 hour access, but most will limit it from early morning to late evening.
Rate Increases: The landlord (self storage) has the right to raise the rental rate of any unit with the proper notice to the tenant. This will be almost always at least 30 days and different states and leases may require the landlord to provide more notice.
Vacating: After giving the proper notice when the tenant is finished with the storage space it is always a good idea to leave the space in the same condition as it was at the time of rental. Most North Phoenix self storage facilities, will not require the tenant to sweep the unit. The tenant should take everything stored on the premises with them upon moving out. If it is RV Storage Phoenix just drive away!
Subscribe to:
Posts (Atom)