The Surge in RV Sales Leads to High Demand for RV Storage Units
Last year was a huge one for RV sales, with sales rising 6% over the year prior, and 2021’s year-to-date numbers indicate that the RV industry continues to see explosive growth. Current projections for this year show that the number of RVs shipped this year will be 33.8% higher than it was in 2020 – and that it would likely be even higher if it weren’t for supply-chain issues that made it difficult to construct these vehicles and move them around the nation. This means great news for business owners that have available RV storage space – and those looking to add RV storage units to their existing self-storage facilities. (Source: GoRVing.com)
Right now, RV storage space is at a premium – meaning RV owners are also willing to pay a premium to use it. RVs are significant investments, and many new owners do not want to store their assets in open-air fields, where they’ll be at the mercy of weather conditions, pests, thieves and other potential hazards. Also, many apartments and homeowner’s associations do not allow residents to park their RVs onsite, which is further driving a need for reliable, covered RV storage.
Adapting existing self-storage buildings for RV/boat storage
If you own a self-storage facility already, you may have a firm understanding of the income potential and low-maintenance nature these businesses have. Self-storage facilities tend to succeed even during economic downturns (mostly because, in a weak economy, many people downsize, leading to a need for additional storage space), and the same holds true for RV storage units.
In comparison to standard metal self-storage buildings, RV storage buildings typically have higher ceilings to better-accommodate these large vehicles. Aside from that, though, they are quite similar, so you may find it easy to add storage units that accommodate RVs and boats (if geographically appropriate) to your existing self-storage facility.
Appealing to a broader demographic
Once you have RV and boat storage units available for rent, you can start marketing to a an entirely new and different demographic. Renters of RV storage units tend to have high incomes due to the costs associated with owning RVs, making them more likely to pay rent on time each month. Renters of RV storage units are also less likely to abandon their storage units with the RVs inside due to the high value these assets hold.
If you currently own a self-storage facility, now is a great time to think about breaking into this burgeoning market. As RV sales surge, RV storage demands are set to grow right alongside them, making RV self-storage units smart investments that should generate steady income for years to come.
