We've been hearing a lot about boat and RV storage lately, but does that mean the demand is there to support getting involved? Is there really enough need for boat and RV storage to justify adding it to your portfolio? Well, it turns out that the demand may well be thriving.
Join us in this Gabfocus Spotlight as Terry Anderson of Tenant Property Protection and Toy Storage Nation gives some amazing stats regarding boat and RV storage demand.
Question: "How in-demand is boat & RV storage?"
Check out the video clip below to hear their answers:
In this Gabfocus Session: RV, Boat, & Vehicle Storage, Tommy and Melissa are joined by three expert panelists to talk all things RV, boat, and vehicle storage from demand to amenities. Terry Anderson of Tenant Property Protection, Barry Raber of CareFree Covered RV Storage, and Greg Ellsworth of the Self-Storage Consulting Group each have strong experience in the vehicle storage industry and come to the virtual table with strong statistics and personal anecdotes.
Check out the full Session to dive deeper!
Don't want to watch the clip? Here's what Terry had to say:
There's about 25 million RV and boat owners out there in the US right now.
If we were to take all the self storage facilities and put them together, there may be 11,000, and that is both combined and regular storage. If you drop it down to RV only, it's about 3000 and executive level is 1100.
So we have a demand that basically says that the HOAs are kicking out a lot of the RVs and boats. We found out that we're going to have to deal with the CCNRs. There's a lot of issues when it comes to city and state. They want some of these facilities to stay out of the communities and out of their regular retail area. And they want them more toward that commercial C2 land.
So you see them gravitating toward the outskirts, more so. And I've been finding that if we were to build out more storage facilities, I'm told that there's only one space for every six vehicles.
And so there's a demand. And they say that's growing, that in the coming year you're going to see another almost 9 million jump on the market here in the next three years.
So then you gotta think about this. In COVID, 38% of the new buyers were millennials. And so it's not just an old guy, an old gal kind of thing for the baby boomers and folks out there. It's also the Gen X, millennials, and on down that are jumping in the game. And people are finding the lifestyle because I believe COVID pushed us out because we were so enclosed in our homes that we found an alternative, and the recreational vehicle became the alternative."
—Terry Anderson
