One common question among investors considering investing in RV storage facilities is how do you value an RV Storage facility? Evaluating these types of investments isn’t much different than other similar investments. In this article, we will explore eleven effective evaluation methods specifically tailored to assess RV storage facilities.

Investing in RV storage facilities can be a lucrative opportunity, given the rising popularity of recreational vehicles. However, properly evaluating the potential of such investments requires a comprehensive analysis.

By understanding these methods, investors can make informed decisions and identify the most promising opportunities in the market. From comparative market analysis to cash-on-cash return and feasibility studies, we will delve into each approach, highlighting its relevance and practical application. Let’s dive into the essential evaluation methods that will guide you towards successful investments in the world of RV storage facilities.

Three Most Common Methods for Evaluating Real Estate Businesses (i.e. RV Storage)

Here are the three most common methods for evaluating real estate based businesses such as RV storage facilities.

1. Comparative Market Analysis for RV Storage Facilities: A comparative market analysis specifically tailored to RV storage facilities involves assessing similar properties in the local market area that have recently sold or are currently listed. This approach helps determine the value of the RV storage facility based on recent sales prices, rental rates, occupancy rates, and market trends specific to RV storage. One challenge with this method is that RV storage sales don’t have much for volume. Therefore, it is difficult to obtain sufficient sales data for a given market.
2. Income approach (Cap Rate):  The cap rate is a valuable metric for evaluating the income potential of RV storage facilities. By dividing the property’s net operating income (NOI) by its purchase price, investors can determine the cap rate specific to the RV storage industry. This helps gauge the potential return on investment and compare different RV storage opportunities. Again, the challenge is that without sufficient data points, comparing data points for cap rates is challenging.
3. Replacement Cost Analysis:  This approach involves estimating the cost of replacing the facility, taking into account factors such as land value, construction costs specific to RV storage, and any necessary improvements or upgrades. By considering the potential expenses involved in constructing a similar facility from scratch, investors can better understand the value of the existing RV storage property and its potential for long-term returns. The challenge with this approach when evaluating RV storage facilities is that replacing the exact location of a given facility is practically impossible. Additionally, some RV storage facilities have been grandfathered in and can’t be replaced, even in the same location.

In real estate, some appraisers also look at metrics such as price per square feet. However, when evaluating RV storage facilities, this metric gets a bit confusing since a facility can be looked at in terms of rentable square feet or gross square feet. Furthermore, this metric looks at cost only. A proper evaluation should also consider income.

Other Metrics and Tools for Evaluating RV Storage Facilities

• Cash-on-Cash Return for RV Storage Facilities: The cash-on-cash return is a relevant measure for assessing the profitability of an RV storage facility. By calculating the annual cash flow generated by the facility relative to the initial cash investment, investors can understand the income potential and return on investment specifically for RV storage. This is by far my favorite method for assessing RV storage facilities and other real estate based businesses. We’ll dig in deeper on why on a separate article.
• Gross Rent Multiplier (GRM) for RV Storage Facilities: The gross rent multiplier can be adapted to evaluate the value of RV storage facilities. It involves dividing the purchase price of the facility by its gross rental income. This approach provides a quick and straightforward way to compare RV storage properties and estimate their value based on rental income. Unfortunately, this only looks at the income side of the equation. Therefore, it doesn’t tell us what the value of a given facility is.
• Return on Investment (ROI) for RV Storage Facilities: Return on investment is a comprehensive measure that considers the total return generated by an RV storage facility, encompassing both income and potential appreciation. By analyzing cash flow, equity buildup, and potential value appreciation, investors can assess the overall profitability of the investment.
• Net Present Value (NPV) for RV Storage Facilities: Net present value can be utilized to evaluate the financial viability of an RV storage facility. By discounting future cash flows, including rental income and potential resale proceeds, to their present value, investors can determine if the investment is financially sound.
• Internal Rate of Return (IRR) for RV Storage Facilities: The internal rate of return is a metric that calculates the annualized rate of return an RV storage facility is expected to generate over its holding period. This analysis considers the timing and magnitude of cash flows, providing insights into the investment’s profitability.
• Market Rental Analysis for RV Storage Facilities: Conducting a market rental analysis is crucial when evaluating the income potential of an RV storage facility. This process involves researching and analyzing rental rates for similar RV storage facilities in the local market, considering factors such as location, amenities, and demand from RV owners.
• Feasibility Study for RV Storage Facilities: A feasibility study tailored to RV storage facilities assesses the viability of the investment project. It considers factors such as market demand for RV storage, competition, construction costs, operational expenses, potential revenue, and associated risks. This study helps determine if investing in an RV storage facility aligns with the investor’s goals and if it is financially feasible.

Conclusion – Evaluating RV Storage

Investing in RV storage facilities demands a systematic approach to ensure informed decision-making and maximize potential returns. By utilizing the ten evaluation methods discussed in this article, investors can comprehensively analyze the income potential, market value, and profitability of RV storage facility investments. Each method provides unique insights, such as market trends, cash flow analysis, and financial feasibility, enabling investors to gauge the viability of their investments. By combining these evaluation methods and conducting thorough due diligence, investors can confidently navigate the RV storage facility market, identifying valuable opportunities that align with their investment objectives. Remember, a well-informed evaluation paves the way for successful investments in the promising realm of RV storage facilities.

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How Much Money Do you Need to Retire?

People often as questions such as how much money do you need to retire? When they ask these questions they are thinking of a lump sum of money. A better way to think about this question is in terms of how much money you need per month. Imagine owning an asset that produces enough passive income that you don’t need to work or worry about money.

What is a Passive Investment?

Passive income refers to earnings generated with minimal effort or ongoing involvement from the investor. It is income that is earned on a regular basis, often without the need for direct labor or active participation. In the realm of investments, very passive options such as investing in dividend stocks or triple net lease real estate can generate income with little ongoing management or intervention.

On the other hand, owning and managing a business is a far cry from passive income. It involves significant time, effort, and active participation in various aspects of the business, such as operations, marketing, customer service, and strategic decision-making. While managing a business can potentially provide greater control and higher returns, it requires substantial commitment and is far from a passive endeavor.

Investing in an RV storage facility can be viewed as a hybrid approach that combines elements of both a real estate play and investing in a business. Operating an RV storage facility does require attracting and retaining customers, providing security, a level of facility, etc. The success of the investment relies on effective business management practices, customer satisfaction, and generating a steady stream of rental income.

Un-Manned RV Storage Facilities Vs Full Service RV Storage Facilities

Certain RV storage facilities, particularly automated or unmanned facilities with minimal or no amenities, can be considered more passive compared to their more sophisticated full service counterparts. Unmanned facilities typically operate on a self-service model, where customers have easy access to their storage spaces without requiring on-site staff assistance. These facilities often have basic features such as secure gated access and surveillance systems to ensure the safety and security of the stored RVs. With fewer amenities to manage and minimal customer interactions, the level of involvement and day-to-day operational responsibilities for the investor can be significantly reduced.

In contrast, facilities that offer a range of amenities like retail products, sewer dump stations, valet parking, and additional services require more active management and customer engagement. The inclusion of these amenities introduces additional responsibilities, such as inventory management, maintenance of amenities, and providing a higher level of customer service. Consequently, the level of passivity decreases as the facility becomes more sophisticated and offers a broader range of services to RV owners.

The video below shows a full service RV Storage facility with valet service and anything else you can imagine. As you view the video consider the number of employees required to manage and operate this type of facility.

Steady and Consistent Cash Flow

Whether the RV storage facility is manned or unmanned, most of these facilities can generate serious cash. The booming outdoor recreational industry, particularly after COVID, has led to an exponential growth in the demand for boat and RV storage solutions. Boat and RV owners often struggle to find suitable locations to store their toys when not in use or during the offseason. This surge in demand presents an enticing opportunity for investors to capitalize on the boat and RV storage sector as a reliable source of passive income, assuming it is considered passive.

Investing in RV storage offers the advantage of a steady and consistent cash flow. Unlike other types of real estate investments that may experience seasonal fluctuations or periods of vacancy, RV storage facilities tend to maintain a relatively stable occupancy rate throughout the year. RV owners typically require storage for extended periods, ensuring a consistent rental income stream for the facility owner. Consider that most RV owners use their RVs for short periods of time and tend to continue to pay for storage to save their spot, even when their RVs are not stored.

Minimal Maintenance and Lower Overhead Costs:

Compared to other real estate investments, RV storage facilities require minimal maintenance and have lower overhead costs. The structures themselves are usually simple, consisting of covered or uncovered parking spaces, which simplifies maintenance and management. Additionally, since RV owners are responsible for maintaining their own vehicles, the facility owner’s maintenance responsibilities and expenses are significantly reduced.

The amount of maintenance work for an RV storage facility depends largely on the type of facility. A facility with building structures, bathrooms, climate control, etc. will obviously require more maintenance than a facility that is essentially a parking lot with little or no amenities.

Conclusion – RV Storage as a Passive Income Investment

Investing in RV storage facilities offers individuals an opportunity to generate passive income while meeting the growing demand for secure RV storage solutions. With its steady cash flow, lower maintenance costs, and the potential for a competitive advantage through location and amenities, RV storage stands out as an attractive investment option. However, navigating zoning restrictions and local regulations is crucial, necessitating thorough research and compliance to ensure a smooth and legal operation. Additionally, conducting a feasibility study is essential to evaluate the market demand, upfront costs, and potential revenue. With careful planning and execution, investing in RV storage as a passive income stream can prove to be a rewarding endeavor for savvy investors, providing long-term financial stability and growth in the ever-expanding RV industry.

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Land Acquisition:

The cost of acquiring land for an RV storage facility can vary widely. On average, expect prices to range from about $2 to $5 per square foot for development to pencil out. Obviously the cost of land depending on location, accessibility, and local real estate market conditions. Furthermore, higher RV storage rates will justify higher land acquisition costs.

It is also worth noting that when we speak of this costs we are speaking of $/SF in terms of gross SF. The actual RV storage facility can’t occupy the entire site due to things like right of way dedication, landscaping buffers, the need to provide storm drain ponds, etc.

Design Costs:

Design costs are an essential aspect of building an RV storage facility. Hiring an architect or design professional to create a functional and aesthetically pleasing facility can cost about $100,000 for a basic design. These costs include conceptual design, blueprints, engineering plans, permitting applications, and any necessary revisions to ensure compliance with local regulations and optimize the facility’s layout for maximum efficiency.

When considering design costs I recommend allocating at least $15,000 for geotechnical engineering. This will include minimal site investigations, determining soil stripping depths and surfacing recommendations.

Diligence Costs:

A basic feasibility study will costs around $10,000. A basic Phase I Environmental Site Assessments costs around $3,000. A property survey can cost around $5,000, depending on the size of the lot and the amount of vegetation. In some cases it may be necessary to do some clearing to facilitate a land survey.

Permitting Costs:

I’ve spent over $50,000 in permitting fees for a facility that is simply a parking lot with no utilities. Permitting costs will depend greatly on the type of facility and on what permitting agency is involved. When developing in any city in California you’ll spend significantly more time and money than when developing in rural Montana.

To estimate permitting costs it is advisable to contact the permitting agencies to inquire about the process, schedule fees, and permitting durations.

Construction and Infrastructure:

The cost of building an RV storage facility will depend on the type of RV storage facility. A basic outdoor storage facility with asphalt paving, security fencing, a stormwater pond, etc can cost about $400,000 per acre to develop.

Adding steel structures for covered RV storage can cost around $35 per square foot. When developing enclosed RV storage costs can be upwards of $50 per square foot. The biggest factor to keep in mind when building steel structures is the volatility associated with steel prices. For properly estimating steel costs it is best to speak directly with steel suppliers in the industry, such as the guys at Makosteel.com

Conclusion – Cost to Build an RV Storage Facility

So, how much does it cost to build an RV storage facility? The all in costs to build a paved open storage facility with a stormwater pond, security fencing, etc , can range from about $400,000 to $500,000 per acre. That figure does not include land costs.

In conclusion, building an RV storage facility entails a range of costs that must be carefully assessed and considered. From land acquisition to construction, storage units, site preparation, landscaping, and ongoing maintenance, every aspect demands financial planning and budgeting. Understanding the cost implications allows for realistic expectations and better decision-making throughout the process. By comprehensively analyzing and accounting for the various cost factors, you can embark on the construction of an RV storage facility with confidence, ensuring its long-term success and profitability.

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Before getting into the design considerations it is worth noting that the location of the RV facility is fundamental to its success. The ideal site is easily accessible, preferably near major highways or popular RV destinations. I’ve heard someone say that easily accessible facilities are within 3 turns from a major highway or artery.

And as you probably know by now, you must check for local zoning requirements and regulations to ensure you can develop the type of facility you envision. In many cases this means the property should be zoned for light industrial or for commercial use.

As we explore the key elements of RV storage design, let’s keep in mind that a well-designed layout should maximize the available space, allowing for efficient storage and easy maneuverability of large RVs.

RV Storage Facility Design

Select The Right Facility Type (Outdoor, Covered, Enclosed)

Selecting right type of RV storage that is to be offered is obviously a major consideration. This will be dictated by your business model, feasibility study, market demand and competition, etc. In many cases, it makes sense to have a mix of RV storage types and parking sizes.

I prefer outdoor storage facilities with a reasonably high number of spaces per acre. That could mean somewhere in the vicinity of 160 spaces per acre, but that’s not always feasible. The reason why I prefer outdoor storage is that I am more of a land play type of investor. See also Industrial Outdoor Storage (IOS): A Growing Investment Opportunity

RV Storage Site Layout

As discussed in previous articles, the shape of the lot will greatly impact site layout. A rectangular lot will result in a more efficient use of space than say a triangular lot or even a square lot. With this in mind, it is also important to maximize the number of rows of parking spaces without compromising drive isle widths to the detriment of the facility. Often this can be accomplished by adjusting the length and the angle of the parking spots.

For example, if you have a lot that is 240′ wide you may be able to design the facility to have four rows of straight parking spaces for 40′ long RVs, while providing two 40′ drive isles. That is you’ll have a row of parking spaces, then a driving aisle, then two rows of back to back parking spaces, then a driving aisle, and one more rows of parking spaces.

If your lot is only 180′ wide you may consider designing your facility to provide four rows of mixed space sizes and angled spaces. See example below from an RV Storage facility in Williamsburg, VA.

That may be a better design than that of a facility with only three rows of 40′ long straight parking spaces and tight driving aisles. In short, the first image below is more efficient than the second image.

Having said that, the design below is extremely efficient as it doesn’t have corner issues. It does require two gates though.

Angled Parking Spaces vs Straight Parking Spaces

Angled parking spaces vary generally from 45 degrees to 60 degrees. These are preferred by users as they are easier for ingress and egress. For this reason, angled parking spaces don’t require driving aisles that are as wide as when designing facilities for straight parking spaces.

However, keep in mind that you’ll be able to fit more parking spaces in a given row if you use straight parking design than if you use angled parking design. That’s because straight parking spaces generally fit better at the corners of the lot than angled spaces. For this reason, angled spaces make more sense when designing the facility with long rows of parking spaces rather than with short rows. In either case, it is important to design the parking rows so that these lay in a longitudinal direction.

Additionally, when designing a facility for angled spaces it is important to consider how drivers prefer to back into a spot. In general, drivers prefer to use the driver side mirror rather than the passenger side mirror to back into a spot. Consequently, it is best for angled spaces to be angled accordingly. In most cases this will mean that the driving isles should accommodate traffic in both directions.

The use of angle spaces can create some challenges when the design calls for steel canopies or steel buildings. The good news is that experienced self-storage steel suppliers know how to handle these challenges.

Ultimately the number of parking rows, the layout and size of the spaces combined with the quality of the facility will contribute in some way the revenue calculation. All of these elements must be considered when developing the feasibility study.

Grading Design

Ideally RV Storage facilities should be flat, but with sufficient slope for rainwater to drain. If the selected site is not flat, then earthwork will be required. When this happens, it is important to try to balance the earthwork design so that everything that is excavated can be used to provide fill in the low spots. Otherwise, you’ll end up having to import or export dirt, which is of significant cost.

Balancing earthwork may require adjusting the overall grade of the facility. This could result in the site being too low or too high compared to the city street. Such elevation discrepancies could be solved by sloping the driveway up or down from the street to the facility.

Parking Surfacing

Another key consideration to RV storage facility design is the type of surfacing design. This may be dictated by the permitting entities as these sometimes require asphalt or by the market and competition. The most cost effective surfacing will at a minimum require removal of topsoil and a layer of aggregate or crushed base. Even something this simple can be expensive when developing a large site. For this reason, it is recommended consulting with a geotechnical engineer. A geotech engineer should be able to suggest the most cost effective design.

Higher end and more durable surfacing options include the use of asphalt or concrete paving. Both of these options will at a minimum require removal of topsoil, placement of an aggregate subbase, and a layer of asphalt or concrete.

In certain soil types it may make sense to consider a form of soil cementing to strengthen native soils and reduce the thickness of the pavement cross section. This can easily translate to significant cost savings.

Usable Land Vs Gross Land

Inevitably the plot of land to be developed will result in a reduced usable area. The total usable space for the RV storage facility will be affected by how much land you’ll need to use to address drainage pond requirements, buffer requirements, right of way dedications, etc.

Below is an actual situation that required addressing all of those items in addition to addressing certain wetland requirements. Out of 5.24 gross acres, only 2.82 acres are actually used for driving and parking. Let’s also remember that only about 50% of those 2.82 acres will be used for actual parking (revenue producing space).

Drainage Design Considerations

Most permitting agencies will require the site to handle storm water in some fashion. This may require installing a drainage pond or similar and the means to carry the water to said pond. These ponds can be quite large. As such, these will result in a reduction of usable space.

Landscaping and Landscaping Buffers

Certain permitting agencies may require landscaping buffers or some other form of landscaping, especially when the property borders residential areas. Landscaping buffers will inevitably reduce the useable space of the facility and can impact operations from a maintenance perspective. On the positive side, landscaping can make RV storage facilities a little more pleasant to the eye.

When it comes to landscaping it is important to consider the use of ground cover plantings, mulch, and irrigation.

Right of Way Dedications and Frontage Improvements

Cities and counties may require right of way (ROW) dedications and frontage improvements. These could include widening the street, constructing new sidewalks and gutter, re-locating light poles, etc.

Security Measures

RV owners prioritize the safety and security of their valuable recreational vehicles. Implementing robust security measures is crucial to attract customers and build trust. Some key security features to consider include high-quality fencing, controlled access gates, surveillance cameras, and adequate lighting. Additionally, investing in an advanced security system can provide an extra layer of protection for your customers’ peace of mind.

It is also important to consider implementing good gate access control. This will not only enhance security, but can also help in streamlining operations. This is especially true when access controlled is integrated with a good facility management software.

In addition to fencing and access control, it is important to consider the installation sufficient lighting as well as surveillance equipment.

Wheel Stops and Curbs

Wheel Stops and/or Curbs may also be something required by the permitting agencies. Curbs in particular are often a requirement for purposes of managing storm water.

One important consideration worth noting is that a number of RVs have a long tail overhang behind the rear wheels. When using wheel stops and curbs these need to be placed sufficiently far away from fencing. This will keep drivers from running into the fence before they touch the wheel stop or the curb.

Climate Control Options

Offering climate-controlled storage options can be a significant advantage for your RV storage facility. Many RV owners are willing to pay a premium for indoor storage that provides higher protection from the environment. Including climate-controlled units in your facility can help attract a wider range of customers and increase profitability.

Amenities and Services

Providing additional amenities and services can differentiate your RV storage facility from competitors and enhance customer satisfaction. Consider including amenities such as an RV wash station, dump station, and propane refill services. Offering services like battery charging, tire pressure checks, and maintenance assistance can also attract more customers and create additional revenue streams.

Conclusion – 12 RV Storage Facility Design Tips

Designing an RV storage facility with profitability in mind requires careful consideration of various factors, from location and layout to security measures and amenities. By creating a well-designed facility that meets the needs of RV owners, you can attract more customers, build a strong reputation, and maximize your profitability. Remember to continuously assess and adapt your facility design to stay competitive in the ever-growing RV storage industry.

Incorporating these design considerations throughout your RV storage facility can position your business for success and ensure a steady stream of satisfied customers.

See also Designing and Maximizing Space for a 1-Acre RV Storage Lot

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Finding suitable parking spaces for recreational vehicles (RVs), boats, and commercial vehicles has become increasingly challenging in many cities, counties, and municipalities. As the demand for parking exceeds available spaces, restrictions have been implemented, resulting in rising costs and limited options for owners. In this article, we will explore the impact of these restrictions and discuss the available alternatives for vehicle owners facing this issue.

The Growing Challenge

According to recent studies, a significant number of cities, counties, and municipalities across the country have implemented parking restrictions for RVs, boats, and commercial vehicles. These restrictions range from outright bans on parking these vehicles in residential areas to limitations on parking duration and the requirement of specific permits.

The reasons behind these restrictions are varied. Concerns about traffic congestion, limited parking availability, noise disturbances, and safety considerations have prompted local authorities to take action. However, these measures have inadvertently made it increasingly difficult for owners to find suitable parking spaces for their vehicles.

Cities Crack Down on Parking for RVs, Boats, and Commercial Vehicles

here are some statistics on the number of cities, counties, and municipalities that have implemented parking restrictions for RVs, boats, and commercial vehicles:

• A 2021 survey by the National RV Trade Association found that 67% of cities and towns in the United States have some type of parking restriction for RVs.
• A 2022 survey by the Boat Owners Association of The United States found that 54% of cities and towns in the United States have some type of parking restriction for boats.
• A 2023 survey by the American Trucking Association found that 43% of cities and towns in the United States have some type of parking restriction for commercial vehicles.

These statistics show that a significant number of cities, counties, and municipalities have implemented parking restrictions for RVs, boats, and commercial vehicles. The reasons for these restrictions vary, but they often include concerns about traffic congestion, noise, and safety.

The following are some examples of specific parking restrictions that have been implemented by cities, counties, and municipalities:

• Time limits: Many cities and towns have implemented time limits on how long RVs, boats, and commercial vehicles can be parked on public streets. For example, some cities may only allow RVs to be parked on the street for 24 hours, while others may only allow boats to be parked on the street for 72 hours.
• No parking zones: Some cities and towns have designated certain areas as no-parking zones for RVs, boats, and commercial vehicles. These areas may be located in residential neighborhoods, near schools or hospitals, or in other areas where they are considered to be a nuisance or a safety hazard.
• Permits required: Some cities and towns require RVs, boats, and commercial vehicles to have a permit in order to be parked on public streets. These permits may be required for all vehicles, or they may only be required for vehicles that are over a certain size or weight.

The rising cost of vehicle storage is another challenge that RV, boat, and commercial vehicle owners face. Self-storage facilities, RV parks and campgrounds, and commercial parking lots can all be expensive, and the cost of storage has been increasing in recent years.

Where Can I Park My RV, Boat, or Commercial Vehicle?

Despite the challenges, there are still a few options available for RV, boat, and commercial vehicle owners in need of parking solutions. Let’s explore some of these options:

1. Parking Your RV at Home: The short answer is that this is possible, but whether you can legally park your vehicles at home depends on your local city, county and HOA regulations.  To learn more about this see Can I park my camper in my driveway?! Here’s what you need to know, helpful tips, and RV parking alternatives…
2. Storing with Neighbors: Storing with neighbors that have space can also be an option.  A couple of places to consider are Neighboor.com and Craigslist.org.  However, this option could lead to taking unnecessary risks. 
3. Peer-to-Peer RV Storage (PeerStorage.co): This is like an Airbnb for self-storage.  There are peer-to-peer self-storage marketplaces that connect people with unused space, to people who need low-cost storage.  Often storage is available for RVs, boats, and possibly commercial vehicles. 
4. Self-Storage Facilities: Many self-storage facilities offer designated spaces for RVs, boats, and commercial vehicles. These facilities often provide security features and convenient access, but they may come with a higher price tag.
5. RV Storage Facilities: There are facilities exclusively designed for RV and boat storage.  Many of these facilities also offer commercial vehicle storage.  These facilities can offer open or outdoor storage, covered storage, enclosed storage and even climate controlled enclosed storage.  Pricing can vary from under $100 per month for outdoor storage to well over $500 per month for enclosed storage, depending on unit size, and the location of the facility.  To find these facilities search for RV storage near me.
6. Truck Parking Facilities and commercial Parking Lots: Some commercial parking lots allow RV, boat, and commercial vehicle parking for a fee. These lots are often found near airports, truck stops, or industrial areas. However, they may have restrictions on parking duration and limited availability.

The Rising Cost of Vehicle Storage

One significant issue facing vehicle owners is the rising cost of storage. As parking options become scarcer, prices are being driven up, making it increasingly difficult for owners to find affordable spaces. This financial burden can strain the budgets of individuals and families who rely on their vehicles for recreational purposes or their livelihoods.

Conclusion – Where Can I Park My RV

Finding suitable parking spaces for RVs, boats, and commercial vehicles has become a pressing concern for owners facing parking restrictions in many cities, counties, and municipalities. While the implementation of these restrictions aims to address valid concerns, it has created challenges for owners seeking affordable and convenient parking solutions.

In light of these challenges, vehicle owners can explore various options, such as parking at home, peer to peer RV storage, self-storage facilities, RV storage facilities, private driveways or parking lots, and truck parking facilities and commercial parking lots. Each option has its advantages and disadvantages, and owners should carefully consider factors such as cost, security, and convenience.

Additionally, it is crucial for vehicle owners to stay informed and proactively engage with their local governments. By voicing their concerns and proposing reasonable alternatives, owners can contribute to the development of more inclusive parking policies that consider the needs of RV, boat, and commercial vehicle owners while addressing community concerns.

Ultimately, with careful research, resourcefulness, and active participation, vehicle owners can navigate the rising cost of storage and find suitable parking solutions that meet their needs

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Understanding the Importance of a Feasibility Study

Before embarking on any business venture, it’s essential to understand the significance of a feasibility study. A feasibility study for an RV storage facility allows you to assess the viability and potential profitability of the business. It helps you identify potential risks, challenges, and opportunities, enabling you to make informed decisions based on concrete data and analysis. By conducting a feasibility study, you can determine if starting an RV storage facility is a practical and worthwhile endeavor.

Market Analysis and Demand Assessment

To ensure the success of your RV storage facility, it’s crucial to conduct a thorough market analysis and demand assessment. This involves evaluating the demand for RV storage in the target market and understanding customer preferences and demographics. You’ll need to research the size of the target market, the growth trends, and any specific factors that may influence demand.

By studying the market, you can identify potential customers, their needs, and the competition in the area. This information will help you position your RV storage facility effectively and develop unique selling points that cater to the market demand.

In analyzing the market, it is important to be mindful of the type of RV storage offered in the local market. In my particular market there appears to be better opportunities in the outdoor storage market than the covered and enclosed RV storage market.

A key element of market demand is understanding existing supply and market pricing. This requires studying competing facilities in the local market and understanding what storage products these competitors offer.

Subject Market Inspection

The subject market inspection is an integral part of the feasibility study for an RV storage facility. It involves conducting a detailed site visit, studying aerial imagery and area maps, and evaluating various attributes related to the subject site and its micro market.

During the site visit, the feasibility expert will physically assess potential locations under consideration. They will examine the subject site’s size, topography, access points, and any other specific attributes that may impact its suitability for an RV storage facility.

In addition to the site visit, the feasibility expert will study aerial imagery and area maps to gain a comprehensive understanding of the subject site’s surroundings. This analysis includes identifying nearby businesses, assessing customer traffic patterns, and evaluating the overall market dynamics within the subject micro market.

By conducting a subject market inspection, you can gather valuable information that helps you make informed decisions about the optimal location for your RV storage facility. It provides insights into the local market dynamics, competition, and potential customer base, enabling you to choose a location that maximizes visibility, accessibility, and profitability.

Operational Considerations

Apart from market analysis and location assessment, operational considerations play a vital role in the feasibility study. You need to evaluate various operational factors that can impact the success of your RV storage facility. These factors include facility design and layout, security measures, amenities, staffing requirements, and management protocols.

When designing the facility layout, you should consider factors such as size and capacity requirements, proper traffic flow, and efficient use of space. Security measures, such as surveillance systems and access controls, are crucial to ensuring the safety of the stored RVs. Additionally, offering amenities like on-site maintenance services, wash bays, and dump stations can enhance the customer experience and attract more clients.

Staffing and management considerations involve determining the appropriate staffing levels, roles, and responsibilities. Adequate training and customer service protocols should be established to ensure smooth operations and high customer satisfaction.

Lease-Up Period

After conducting a comprehensive subject market inspection and gathering all the relevant data, the feasibility expert analyzes the information to estimate the lease-up period for the RV storage facility. The lease-up period refers to the duration it takes for the facility to reach a stable occupancy level.

During this analysis, the feasibility expert considers various factors that can influence the lease-up period. These factors may include the size of the target market, the level of demand for RV storage in the area, the marketing and advertising strategies employed, and the overall competitiveness of the market.

By evaluating the collected data and applying industry benchmarks, the feasibility expert can make an informed estimate of the lease-up period in months. This estimate provides valuable insights into the time required to achieve a stable and sustainable occupancy rate for the RV storage facility.

Understanding the lease-up period is crucial for financial planning and forecasting. It helps project the cash flow and revenue generation during the initial stages of the facility’s operation. Additionally, this information assists in determining the feasibility of the project, ensuring that the financial resources are properly allocated for the anticipated lease-up period.

By incorporating the estimated lease-up period into the feasibility study, you can make informed decisions about financial projections, marketing strategies, and operational planning. It provides a realistic timeline for achieving profitability and allows for effective resource management during the critical early stages of the RV storage facility.

In conclusion, analyzing the data collected during the subject market inspection allows the feasibility expert to estimate the lease-up period for the RV storage facility. This information is essential for financial planning, marketing strategies, and operational decision-making.

Financial Analysis

A key component of the feasibility study for an RV storage facility is the financial analysis. The feasibility study consultant produces this analysis, which includes basic assumptions regarding projected income, occupancy, expenses, cash invested, and mortgage expenses. These assumptions are based on the market analysis, subject market inspection, and lease-up period estimation.

By assessing the revenue potential and expense structure, the financial analysis helps determine the facility’s profitability and potential return on investment.

Lenders, potential investors and partners are particularly interested in the financial analysis section of the feasibility study. They use this information to assess the viability of financing the RV storage facility project and make financial projections.

Conclusion – RV Storage Feasibility Study

A comprehensive feasibility study is essential when considering the development of an RV storage facility. Assessing the various elements discussed above is vital steps in understanding the viability and potential success of the project. By investing time and resources into a well-executed feasibility study, you can make informed decisions

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RV storage facilities cater to a diverse range of users. The typical users of these facilities include RV owners who seek a secure and convenient place to store their recreational vehicles when not in use. Boat owners also utilize RV storage facilities to safeguard their watercraft during off-seasons. Additionally, small businesses often utilize these facilities for storing commercial vehicles, such as delivery vans or work trucks. The flexibility and security provided by RV storage facilities make them an ideal solution for various individuals and businesses in need of reliable storage options.

With this in mind, it is also important to be strategic about the type of RV storage facility. See Outdoor vs. Covered vs. Enclosed vs. Climate-Controlled RV Storage: A Comparison for more on this. In either case, it is evident that services for storage facilities are in high demand and will likely continue to be in high demand. See also 10 Great Reasons Why I Like Boat & RV Storage Investing

Accessibility: Ensuring Convenient Access for Customers

One of the primary considerations is accessibility. Your RV storage facility should be easily accessible for both customers and transport vehicles. Proximity to major routes, highways, and popular RV destinations is important to attract a steady flow of customers.

Visibility and Brand Recognition: Maximizing Customer Inquiries

A highly visible location is essential to maximize customer inquiries. Potential customers often remember seeing a storage facility while traveling in an area they frequent. Choosing a visible development that clearly represents a vehicle storage facility enhances brand recognition and increases the likelihood of new customer inquiries.

Traffic Counts and Local Traffic: Assessing Potential Customer Engagement

Understanding the traffic counts of nearby roadways is crucial. Higher traffic counts indicate greater visibility and potential customer engagement. It is also important to consider the proportion of local traffic, as these individuals living, working, or shopping in the area are more likely to require storage services. Larger facilities may require traffic counts exceeding 15,000 cars per day, while smaller facilities can suffice with less than 5,000.

Security and Safety: Protecting Vehicles and Ensuring Peace of Mind

Security and safety should be paramount for both the vehicles stored and the facility itself. Look for locations that have sufficient lighting, perimeter fencing, controlled access systems, and surveillance measures. Proximity to residential areas or commercial centers can enhance security, while low crime rates in the vicinity are desirable.

Cost of Real Estate and Ideal Size: Balancing Affordability and Space Requirements

Consider the cost of real estate when evaluating potential locations. Rural areas generally offer more affordable options compared to urban areas. Additionally, ensure the location provides ample space for the facility. The minimum recommended size for an RV storage facility is typically around 3 acres, allowing for adequate maneuverability and potential future expansion.

Demographics and Target Market: Analyzing the Demand for RV Storage

Thoroughly analyze the demographics of the surrounding area to gauge the potential demand for RV storage services. Factors such as population density, RV ownership rates, and recreational activities popular in the region should be taken into account. Understanding your target market will help you tailor your services and marketing efforts to meet their specific needs.

Competition and Market Saturation: Evaluating Existing Facilities

Research existing RV storage facilities in the vicinity to assess the level of competition and market saturation. Evaluate their offerings, pricing, customer reviews, and unique selling points. Identifying locations where the demand for RV storage exceeds the supply can provide a competitive advantage for your facility.

Local Regulations and Zoning: Compliance and Legal Considerations

Ensure compliance with local regulations and zoning restrictions specific to operating an RV storage facility. Familiarize yourself with the requirements, permits, and restrictions imposed by local authorities. Understanding the regulatory landscape from the outset will help prevent potential legal complications and ensure a smooth operation of your facility.

Frequently Asked Questions

1. What are some tips for choosing a location that is highly visible and easy to access?

To choose a location that is highly visible and easily accessible, consider the following tips:

• Opt for locations near major roads, highways, or popular RV destinations to ensure convenient access for customers.
• Look for areas with good visibility and consider prominent signage to maximize brand recognition and customer inquiries.
• Evaluate the flow of traffic and ensure that the facility entrance is easily identifiable and accessible, even for larger RVs or trailers.
• Research the surrounding area to gauge the level of local traffic and potential customer demand.

2. How can I assess the potential demand for RV storage in a particular area?

Assessing the potential demand for RV storage in a specific area requires careful research and analysis. Consider the following approaches:

• Study the local market and demographics to determine the number of RV owners and enthusiasts in the area.
• Investigate the availability and occupancy rates of existing RV storage facilities in the vicinity.
• Analyze online search trends and keyword volume related to RV storage in the target area.
• Conduct surveys or interviews with RV owners to gauge their preferences and potential storage needs.

3. How much does it cost to open an RV storage facility?

The cost of opening an RV storage facility can vary depending on several factors, including the location, land acquisition or lease costs, facility size and design, security features, permits, and operational expenses. Generally, starting costs can range from tens of thousands to several hundred thousand dollars. It is recommended to create a comprehensive business plan and seek professional advice to estimate the specific costs involved based on your desired facility size and amenities.

4. What are the steps involved in opening an RV storage facility?

Opening an RV storage facility involves several key steps:

1. Research and Planning: Conduct market research, analyze competition, and identify a suitable location. Develop a detailed business plan outlining the facility’s size, amenities, target market, and financial projections.
2. Secure Financing: Determine the funding needed for land acquisition, facility construction, permits, and operational costs. Seek financing options through loans, investors, or personal investment.
3. Land Acquisition and Permits: Acquire or lease suitable land for the facility. Obtain the necessary permits and licenses from local authorities, ensuring compliance with zoning and land use regulations.
4. Facility Design and Construction: Work with architects and contractors to design and construct the RV storage facility. Consider factors such as security features, accessibility, parking layout, and office or administrative spaces.
5. Security and Infrastructure: Install appropriate security systems, such as surveillance cameras, access control, and proper lighting. Develop essential infrastructure, including parking spaces, driveways, and maneuvering areas.
6. Marketing and Promotion: Develop a marketing strategy to raise awareness about your RV storage facility. Utilize online advertising, local directories, signage, and word-of-mouth referrals to attract customers.
7. Operations and Management: Establish operational procedures, including rental agreements, payment systems, maintenance protocols, and customer service processes. Hire and train staff to manage daily operations effectively.

By following these steps and adapting them to your specific circumstances, you can successfully open and operate an RV storage facility.

Conclusion

Choosing the optimal location for your RV storage facility is a critical decision that can significantly impact its success. By considering factors such as accessibility, visibility, traffic counts, security, cost of real estate, demographics, competition, and local regulations, you can make an informed choice that aligns with your business goals and maximizes the potential for growth.

Thorough research, market analysis, and careful evaluation of prospective locations are essential. Take the time to visit potential sites, assess their suitability, and consider long-term implications. By selecting the perfect

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Introduction:

When it comes to storing your valuable recreational vehicle (RV), choosing the right storage option is crucial to ensuring its longevity and protection. RV storage facilities offer various types of storage options, each with its own set of features and benefits. In this article, we will explore the key differences between outdoor, covered, enclosed, and climate-controlled RV storage, helping you make an informed decision to keep your cherished RV safe and secure.

Outdoor RV Storage:

Outdoor RV storage refers to the most basic and affordable storage option available. As the name suggests, it involves parking your RV in an open area within the storage facility. Outdoor storage typically features wide parking spaces designed to accommodate large vehicles like RVs. However, it’s important to note that some cheaper outdoor facilities may have gravel surfacing instead of paved surfaces, which can make maneuvering your RV slightly more challenging.

Outdoor storage offers easy access and convenience but provides minimal protection against the elements. Your RV is exposed to weather conditions such as rain, sun, wind, and snow, which can lead to wear and tear over time. Outdoor RV storage is the most cost-effective option among the different types, making it an attractive choice for budget-conscious RV owners. See also How To Save Money By Using Outdoor RV Storage

Covered RV Storage:

Covered RV storage provides a step up from outdoor storage by offering a protective roof structure. This type of storage is often an open-sided structure, such as a carport or awning, that shields your RV from direct sunlight, rain, and snow. Covered storage offers partial protection against the elements while still allowing for ventilation. It helps to reduce sun damage, prevents water accumulation on the roof, and provides some shade.

Covered RV storage generally features a paved surface for easier maneuvering of your RV. Similar to outdoor storage, covered storage may not always offer assigned parking spots. Covered RV storage is a moderately priced option, offering a balance between affordability and enhanced protection.

Enclosed RV Storage:

Enclosed RV storage takes security and protection a step further by providing a fully enclosed structure. This type of storage offers four walls and a roof, similar to a garage. Enclosed storage provides excellent protection against the elements, including rain, snow, wind, and sunlight. It also offers a higher level of security by restricting unauthorized access.

Enclosed storage facilities typically have paved surfaces and often provide assigned parking spots, making it easier to navigate and locate your designated area. Due to the added protection and security features, enclosed RV storage tends to be more expensive compared to outdoor and covered storage.

See also Indoor RV Storage: The Ultimate Guide for 2023

Climate-Controlled RV Storage:

Climate-controlled RV storage is the most advanced and comprehensive storage option available. This type of storage ensures that your RV is stored in a controlled environment with regulated temperature and humidity levels. Climate-controlled facilities typically feature insulated units equipped with HVAC systems, ensuring a consistent and optimal environment for your RV.

This type of storage is particularly beneficial for protecting sensitive components and materials inside your RV, such as electronics, upholstery, and appliances. Some climate-controlled RV storage facilities go beyond the basic features and offer additional amenities such as electric service, allowing you to keep your RV batteries charged and appliances running even while in storage. Additionally, some facilities may have onsite staff, including managers, who can provide assistance and ensure the smooth operation of the facility.

Conclusion – RV Storage Comparison:

Choosing the right type of RV storage can significantly impact the condition and longevity of your vehicle. Whether you opt for outdoor, covered, enclosed, or climate-controlled RV storage, ensure that the facility provides reliable security measures, convenient accessibility, and competitive pricing. Safeguarding your RV in the right storage facility will provide peace of mind and help preserve its value for years to come.

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Certainly one quick way to protect your RV tires is by installing tire covers. Here’s a good video on that subject.

Understanding RV Tire Dry Rot and Flat Spots

RV tire dry rot refers to the cracking and deterioration of the rubber caused by exposure to UV rays, heat, and age. It weakens the structure of the RV tire and compromises its integrity, leading to potential blowouts and accidents. Flat spots on RV tires occur when they remain stationary in one position for an extended period, causing a section of the tire to develop a flat area. This can result in uneven wear, vibrations, and an uncomfortable ride.

1. Clean and Inspect Your RV Tires

Before storing your RV, thoroughly clean the tires using mild soap and water. Remove any dirt, debris, or chemicals that could accelerate the aging process or cause damage to the RV tires. After cleaning, conduct a visual inspection for any signs of RV tire dry rot, bulges, or uneven wear. Address any tire issues before storage to prevent further damage.

2. Inflate RV Tires to Recommended Pressure

Inflate your RV tires to the manufacturer’s recommended pressure before storing your vehicle. Proper inflation helps distribute the weight evenly, reducing the risk of RV tire flat spots and maintaining tire shape and integrity.

3. Choose the Right RV Tire Storage Location

Select a storage location that offers protection from sunlight and harsh weather conditions. Covered or indoor storage options are ideal for preventing UV exposure and minimizing temperature fluctuations that can contribute to RV tire dry rot and flat spots. If covered storage is not available, consider using RV tire covers to shield your tires from direct sunlight.

4. RV Tire Positioning

When parking your RV for storage, consider using leveling blocks or jack stands to take the weight off the tires. This helps alleviate pressure on specific spots and reduces the risk of RV tire flat spots. If using leveling blocks, place them under the axle rather than directly under the tires.

5. Regular RV Tire Rotation

Before storing your RV, rotate the tires to ensure even wear and minimize the occurrence of RV tire flat spots. This practice helps distribute the weight and prevents flat spots from forming in a stationary position. Follow the recommended RV tire rotation pattern specified by the tire manufacturer or consult a professional for guidance.

6. Exercise Your RV Tires

If possible, periodically move your RV during storage to prevent RV tire flat spots. Rolling the vehicle a short distance every few weeks can help distribute the weight and relieve stress on specific areas of the tires. Check with the storage facility guidelines and local regulations before moving your RV.

7. Monitor RV Tire Pressure

Regularly check the RV tire pressure during storage to ensure it remains within the manufacturer’s recommended range. Fluctuations in temperature can affect tire pressure, so it’s important to maintain proper inflation levels to prevent RV tire flat spots and damage.

8. Avoid Chemical Damage to RV Tires

Keep your RV tires away from petroleum-based products, solvents, and harsh chemicals. These substances can deteriorate the rubber compound, leading to premature RV tire aging and potential dry rot. Store cleaning agents and chemicals in a separate compartment to prevent accidental contact with the tires.

Conclusion – Avoid Tire Dry Rot and Flat Spots

Proper RV tire storage is crucial for avoiding RV tire dry rot and flat spots, which can compromise your safety on the road. By following these tips and best practices, you can maintain the integrity of your RV tires and extend their lifespan. Regular cleaning, proper inflation, choosing the right RV tire storage location, tire rotation, and periodic tire exercise are key to preventing RV tire damage during storage. Remember to monitor RV tire pressure and avoid chemical damage to ensure the longevity of your RV tires.

For other RV storage tips check out “21 RV Storage Tips: The Ultimate Guide to Keeping Your Rig in Top Condition”

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When it comes to owning an RV, proper storage is crucial for maintaining its pristine condition. Whether you’re a seasoned traveler or a first-time RV owner, implementing effective RV storage tips will help protect your investment and ensure that your rig is ready for your next adventure. In this comprehensive guide, we will provide you with 21 invaluable tips that cover every aspect of RV storage, ensuring your rig remains in top condition for years to come.

1. Find the Perfect Storage Spot

Choosing the right storage location for your RV is the first step to ensuring its longevity. Look for a secure facility that offers covered or indoor storage options. This will protect your rig from the elements and minimize exposure to harsh weather conditions.

2. Clean and Prep

Before storing your RV, give it a thorough cleaning, both inside and out. Remove all perishable items, vacuum, and wipe down surfaces to prevent any potential damage or unwanted pests during storage.

3. Conduct a Maintenance Check

Perform a comprehensive maintenance check on your RV before storing it. Inspect the engine, tires, brakes, and all mechanical components to address any issues and avoid surprises when you’re ready to hit the road again.

4. Protect the Exterior

Invest in a high-quality RV cover to shield your rig from UV rays, dust, and other environmental factors. Ensure the cover fits properly and is securely fastened to prevent any potential damage. Here are some tips to protect your RV’s exterior.

5. Tire Care

To prevent flat spots and preserve tire life, inflate your RV’s tires to the manufacturer’s recommended pressure and consider using tire covers to shield them from the sun’s harmful rays.

6. Battery Maintenance

If storing your RV for an extended period, disconnect the batteries to avoid drainage. Alternatively, you can invest in a battery maintenance device that will keep your batteries charged and in optimal condition.

7. Fluid Maintenance

Before storage, change the oil and filters, and consider adding a fuel stabilizer to the tank to prevent fuel degradation. Additionally, flush and add antifreeze to the plumbing system to protect against freezing temperatures.

8. Pest Prevention

To keep unwanted critters away, inspect and seal any potential entry points in your RV, such as vents, exhausts, and openings. Use rodent repellents and set traps if necessary.

9. Ventilation

Proper airflow is crucial for preventing mold and mildew buildup inside your RV. Open vents or windows slightly to allow for circulation while keeping bugs out by using mesh screens.

10. Interior Protection

Cover your RV’s furniture and upholstery to shield them from dust and sunlight. Consider using dehumidifiers or moisture absorbers to maintain optimal humidity levels and prevent mold growth.

11. Refrigerator Care

Clean and defrost your refrigerator, leaving the doors slightly ajar to prevent odors and mildew. Place an open box of baking soda inside to absorb any remaining odors.

12. Drain and Flush

Empty and clean all holding tanks thoroughly, including the black, gray, and freshwater tanks. Add RV-safe antifreeze to prevent any residual water from freezing and causing damage.

13. Roof Inspection

Check your RV’s roof for any signs of damage, such as cracks or leaks. Repair any issues promptly to prevent water intrusion during storage.

14. Awning Maintenance

Clean and dry your RV’s awning before storing it. Ensure it is fully retracted and secured to avoid damage from wind or inclement weather.

15. Slide-Outs and Jacks

Retract and secure slide-outs and leveling jacks to prevent unnecessary stress on these components during storage.

16. Security Measures

Install additional security features, such as motion sensor lights, an alarm system, or wheel locks, to deter theft and protect your RV while in storage.

17. Regular Checkups

Periodically visit your stored RV to inspect for any signs of damage or issues. This will allow you to address problems promptly and avoid potential long-term damage.

18. Insurance Coverage

Review your RV insurance policy to ensure it covers storage-related damages or theft. Consider adding comprehensive coverage specifically tailored for storage periods.

19. Documentation and Inventory

Keep a detailed inventory of items stored in your RV and take photographs of its condition before storing it. This documentation will be valuable for insurance purposes and ease the retrieval process.

20. Maintenance Schedule

Create a maintenance schedule for your RV, including regular inspections and servicing. Following a routine will help you stay on top of maintenance tasks, ensuring your rig stays in excellent condition throughout its lifespan.

21. Prepare for Reuse

Before hitting the road again, carefully inspect and test all systems and components of your RV. Check the tire pressure, brakes, lights, and fluid levels. Make sure everything is in proper working order before embarking on your next adventure.

Conclusion – RV Storage Tips

By implementing these 21 RV storage tips, you are well on your way to maintaining your rig in top condition. Proper storage, maintenance checks, and preventive measures will safeguard your investment and make your future adventures worry-free. Remember, a well-cared-for RV is a reliable and comfortable home on wheels, ready to take you on unforgettable journeys whenever you’re ready to hit the road again.

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