There are many reasons why an individual or a business or will use self-storage units at Good Storage Bristol. The most common reason is to reduce the clutter inside the home particularly if there are plans of downsizing. Businesses prefer to rent storage space instead of investing in warehouse expansion. Self-storage has become the most obvious option for hoarders who cannot bear the thought of parting with the beloved possessions.
In Canada, condo boom, downsizing, divorce, death and changing times have obviously contributed to the growth of self-storage. More folks find themselves space-challenged but unable to part with their treasures. Renovations and remodeling meant that old furniture, boxes of china and camping equipment have to find a home in a secured self-storage facility with 24-hour accessible lock and key.
At Storage Mart, some of their units became a place for plumbers and store owners who want to park their tools and supplies until they decide if it makes sense to invest in a long term lease in a large industrial space.
Prices of self-storage are dependent on location. A unit that measures10 by 10 feet which is climate controlled can rent for $270 per month in Leaside but a similar unit can be rented for $156 a month in Kennedy and Steeles.
The Canadian Self Storage Association does not seem to keep accurate statistics on the number of self-storage facilities in Canada but it is estimated that there are around 3,000 facilities. It is only a fraction of the 52,000 self-storage facilities in the United States. Canada has about 2 to 2.5 square feet per capita in self-storage while Americans account for 9 square feet.
In reality, self-storage businesses produce better returns than offices or apartments. However, what is intriguing is the sector isn’t considered with the same attention as other real estate investments in Canada. In the United States the self-storage industry is a $25 billion business that is as big as the music and movie industry combined.
In Miami, Florida, self-storage is taken to an entirely new level with glass-walled offices and shops to make the facility look more like an office or a condo tower than storage for the overflow of other people’s belongings.