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Self-storage is an industry that rents space. Generally self-storage units include both business and individuals. There are several different storage units used by businesses and individuals. Car storage, wine storage, boat storage, indoor units, and outdoor units are most popular.
5 Ways To Make Money With A Storage Unit
II. Advertise With Billboards
III. Partner With Moving Trucks
IV. Generating Solar Power
V. Sell Boxes and Storage Items
What are the perks of owning a storage unit?
This is a form of passive income. However, the profits depend on the size and location of your facility, if one has acquired a loan to acquire the property and how you’re using the facility to generate income. Storage units are also tax deductible as long as the storage owner has a satisfying distance and jobs tests required by the IRS. The IRS allows the owner to deduct moving expenses when the move is job-related.
How much money can be made from storage units?
On average a self-storage facility earns $350,000-$800,000 a year.
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