Small Business that can benefit from mini-warehousing
Expansion is one of the costliest parts of running a growing business. The sudden doubling of expenses and new capital costs can even loom large enough to give you second thoughts, but many businesses don’t need a fully functional second site to expand. If your rental property business is growing outside of your usual office storage, don’t get an extension or a second house. Just get a mini-warehouse.
Invest in regional tools without the transportation costs.
Properties in different areas need different tools. Even without the same area, you’ll have properties in varying degrees of rural, suburban, and urban. If the properties far from your central hub of business need different types of tools, store them in town so you don’t have to drive them back and forth. Not only will you save on gas mileage, it reduces the risk of loss or damage.
Most regional tools are also larger than you can comfortably transport, even with a truck. Gas furnace tools, extra septic tank parts, and excess cement will weight down your business if you have to keep moving them.
Always have what you need without a long drive.
Once you get started fixing up a property, you’re going to find more things to fix. But going back and forth from your home or main business property to the rental property is expensive. And it also takes too long! Even if you think you’re going in with a specific list of things to change, you’ll always find something that shouldn’t wait until the next tenant leaves. Having a storage unit full of tools and parts also stops you from having to make the hard choice between a long drive home and buying a replacement in town.
No matter how mobile your business can be when it comes to inspecting and repairing rental properties, carrying everything with you at all times isn’t the best solution. Find storage units that are adjusted for your needed square footage near your far-flung investments.