In today's fast-paced world, self storage units have become an essential part of people’s lives. For people who are downsizing, moving to a new city, or simply in need of extra space, self storage units offer a convenient and secure solution.
To capitalize on this trend, running a self-storage business can be a lucrative (and somewhat passive) activity.
If you are considering building your own single-story or multi-story self storage units in Alberta as a business, this comprehensive guide will walk you through everything you need to know, from understanding the basics to maintenance.
Understanding the Basics of Building Self Storage Units in Alberta
Before embarking on any construction project, it is crucial to have a solid understanding of the basics of building a self storage facility in Alberta.
One key aspect to consider is the demand for self storage units in the area, as well as the local demographics. By conducting a market research study, you can ascertain self storage trends, housing sizes, and income levels – all of which contribute to your ability to run a profitable self storage business.
According to recent studies, the self storage industry in Canada has been growing steadily, with an average annual growth rate of 3.1% over the past five years. This indicates a strong demand for self storage units, making it a potentially lucrative investment, as long as you can maintain high occupancy and low churn.
Finally, it is important to familiarize yourself with the local regulations and requirements for building self storage units. These regulations ensure the safety and compliance of the facility. Prior to starting the construction process, consult with local authorities and obtain the necessary permits and licences.
Assessing the Regulations and Requirements for Self Storage Units in Alberta
When it comes to building self storage units, it is essential to consider the local zoning regulations. Each municipality will have its own zoning bylaws, which dictate where self storage units can be built. Ensure that the chosen site complies with the zoning requirements to avoid any issues down the road. Rezoning a property is a complex and a time consuming process. It is important to understand the rezoning process and budget for any contingencies. For example, the municipality may require you add a fire hydrant near the commercial property which could easily add $10,000 to your overall costs. Staying well-informed on any relevant regulations will ensure your self storage development budget is reasonable.
Choosing the Right Materials for Building Self Storage Units in Alberta
When it comes to constructing self storage units, choosing the right materials is key. Alberta's diverse climate demands materials that can withstand extreme weather conditions, including harsh winters and scorching summers. Opt for durable materials such as steel or concrete, which offer excellent durability and security.
It is also important to consider insulation to regulate temperature and protect stored items. Proper insulation not only helps maintain the integrity of the stored belongings but also prevents energy loss, ultimately reducing operational costs.
Your construction costs may be increased as a result of this future-planning, but the long-term viability of your business depends on it.
Planning the Layout of Self Storage Units in Alberta
The layout of your self storage units plays a crucial role in maximizing the available space and enhancing the overall functionality of the facility.
It is essential to offer a variety of unit sizes to cater to different storage needs. Furthermore, sufficient spacing between units and wide corridors will make it easier for tenants and their vehicles to navigate the facility.
Include amenities such as loading docks and elevators to streamline the moving process and ensure convenience for your customers – you can also charge a slight premium on rental rates, making it a smart long-term investment.
Preparing Your Site Before Building Self Storage Units in Alberta
Preparing the site before commencing construction is an important step in ensuring a smooth and efficient building process.
We begin by conducting a thorough site analysis to identify any environmental concerns or potential issues. This analysis will help you take appropriate measures to address and mitigate any risks, saving you costs and abating future risk.
Clearing the site and levelling the land are crucial steps in preparing the site. This will provide a solid foundation for the construction process. Additionally, it is important to plan for appropriate drainage systems to prevent flooding and ensure the safety of the storage units and valuables.
Storage Mart located on Winterburn Road in Edmonton, Alberta
Constructing Self Storage Units in Alberta
It is recommended to hire an experienced build team who specialize in building self storage units, particularly in your local region in Alberta. Mistakes are costly, and their expertise and knowledge will ensure that the project is completed correctly and on time.
The construction process typically involves erecting the building's framework, installing insulation and roofing, constructing individual storage units, and completing the finishing touches. Regular inspections should be carried out during each phase to ensure compliance with regulations and industry standards.
Installing the Necessary Facilities for Self Storage Units in Alberta
To provide a convenient and secure experience for your tenants, it is important to install the necessary facilities within the self storage units. This includes adequate lighting, surveillance systems, and secure access controls.
Investing in a comprehensive security system not only protects your customers' belongings but also reassures them of the safety measures in place. Consider installing security cameras, alarms, and gate access systems to provide round-the-clock surveillance and restrict unauthorized access.
Meridian Self Storage Units in Parkland County, Alberta
Maintaining Self Storage Units in Alberta
Maintaining your self storage units is crucial for the long-term success of your facility. Regular inspections should be conducted to identify any maintenance issues such as leaks, structural damages, or malfunctioning security systems. Addressing these issues promptly will ensure the safety and satisfaction of your tenants.
Additionally, providing exceptional customer service plays a vital role in maintaining tenant retention. Be responsive to their inquiries, offer convenient payment options, and implement effective communication channels. A satisfied customer is not only more likely to continue renting but also to recommend your facility to others.
If you are looking at land for your self storage facility development, Bolson Engineering and Environmental Services has partnered with developers across Alberta who can make your vision a reality. Contact us to see how you can get the process started and see why Albertan business owners love working with Bolson.
