Posted by John B. Corey Jr. on August 12, 2005 at 11:44:21:
I was assuming the same containers.
You might be surprised what is stolen on the back of a truck when there is something inside worth stealing.
John Corey
Chelsea Private Equity LLC
Self Storage using 40’ Locking Containers - Posted by Steve
Posted by Steve on August 10, 2005 at 17:28:32:
I am looking at buying a property in a depressed area for the warehouse it has but there is an adjacent lot with it that I was thinking of putting about 8 40’ ground storage containers to rent at 100 per month. It is zoned industrial but there is a house adjacent to the property. My question is what rights do I have to remove contents if the tenant does not pay? I am in PA. Would I fall under the same laws as a larger self storage rental facility? There would be no fence around the containers. Would I need extra insurance for these also?
Thanks in advance
Steve
Re: Self Storage using 40’ Locking Containers - Posted by Steve Mfalls Tx
Posted by Steve Mfalls Tx on August 12, 2005 at 12:57:27:
That sounds pretty interesting. We have something similar in this state.A company that has what they call Pods. .In this case the containers are dropped off at someones residence.They pack it.lock it,then the company brings in a truck and carrys the container to their warehouse…
You may want to think about this. If the land you are looking at is possibly paved or at least graveled. You could line up the containers right next to each other.Like they are done on cargo ships.Except only one layer high.Place them so the doors are staggered.meaning have the first containers doors going east and the second going west.And so forth…It would make it easier for access when seperate renters have back to back containers… Also.If The containers have the lifting lugs still attached you could chain or bolt them together.Not that I think anyone would be able steal them if they are stacked side by side.It would just be added security…
Not familiar with PA but here storage facilitys file storage liens for non-payment.They go thru a proccess that the state requires.If the renter still does not pay it can be auctioned off or disposed of.I,ve bought a lot of Units that way.You would have to check your states statutes or rules…
Steve in Tx
Re: Self Storage using 40’ Locking Containers - Posted by Don Dion
Posted by Don Dion on August 11, 2005 at 12:30:31:
Lenders will not touch this one since it’s personal property not real estate
Re: Self Storage using 40’ Locking Containers - Posted by John B. Corey Jr.
Posted by John B. Corey Jr. on August 10, 2005 at 19:15:15:
If I was renting a box from someone I would expect them to make sure it did not walk off.
If I was renting the space and dropped the box on the space I would worry about securing the box to the space.
So, you could rent the interior space in each container or you could rent the ground and let individuals get their on container (you can work the numbers to see if that is attractive).
If you do rent the space in containers then you need to find a way to secure them so they can not easily be moved. This could mean bolting them down or just making it so that they groups is physically attached to each other. Then assume you need insurance if they units are stolen.
You could consider renting the space for people who want to park RVs. You need a secure fence.
There might be a trucking company that would rent the space if they have trailers to store. A longer term lease with tenant improvements (fencing and lighting).
In most of the ideas above you need to understand the business licensing requirements plus the liability you have if someone does not pay and you seize their stuff.
John Corey
Chelsea Private Equity LLC
40 foot boxes - Posted by Clint
Posted by Clint on August 12, 2005 at 08:24:31:
I’d say John, these are probably the steel shipping containers that the U.S.has an abundance of, not likely they are walking off unless someone has a crane.