Buying and Investing in Storage Units
Administrators can buy additional pooled storage for their organization’s Google Workspace account. They can buy storage in 10 TB increments through Google Workspace Additional Storage. There is no limit to how much you can buy. However, upgrading your Google Workspace edition may be more cost effective.
Online Storage Units Auction Platforms
Popular online storage unit auction platforms include eBay and iBidOnStorage. Read reviews carefully before investing in any online marketplaces so that you know exactly what you’re getting yourself into.
Steps to Buy Storage Units
This article provides a step-by-step guide on how to buy storage units. It covers types of units, features to consider, inspections, terms & conditions, and payment options.
- The first step is determining the type that will fit your needs best. Units come in different sizes to store different things. Check the size to ensure it fits your belongings.
Purchasing Additional Google Drive Storage
You can buy more Google Drive storage space directly as a user. Administrators can also let users purchase additional storage. To buy more storage, visit your Drive storage settings page and select a storage plan to purchase.
Cost of Storage Units
The average storage unit in the U.S. costs $60-$430 per month depending on size, type and location:
- Small units (5×5 or 5×10): $60-110 per month.
- 10×10 units: $80-$160 per month.
- Larger units (10×20 to 10×30): $130-$430+ per month.
The cost goes up for climate-controlled units to store items like media, artwork, wine, etc. The exact price depends on location, size availability, taxes and fees.
Is Investing in Storage Units a Good Idea?
Investing in storage units can be a great way to maximize space and keep belongings safe. Units provide extra space and flexibility. They come in different sizes to store different items. Check the size to ensure it fits belongings. Units are typically climate-controlled to protect items from extreme temperatures and humidity. This is especially good for sensitive items like electronics and furniture.
Units also usually have security features like locks, alarms, and cameras to keep items safe. However, units can be costly depending on size, type, and location. Research the market to find facilities in high-demand areas with good features. Offer incentives to tenants to encourage longer rentals. Selecting the right location is key for a profitable storage business. Do market research first. Self-storage investments can have low maintenance costs and high returns compared to other buildings. But research thoroughly first to determine if it’s a good avenue.
The primary benefits of units are the convenience, accessibility, climate control, and security. The main downside is the cost. Review the pros and cons to see if self-storage investing is right for your portfolio.