Buying vs Renting - Multistorage

Buying vs Renting

Multi Storage has a range of storage solutions available. But how do you know whether you should rent or buy?

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Buying a storage unit
Purchasing a storage unit as a real estate investment provides you with an active asset. This means that an investment in a storage unit provides ownership and therefore the opportunity to experience capital growth.

 

RENTING
TRY BEFORE YOU BUY.
Claim Your Rent Back If You Choose To Purchase The Rental.

 

 

It also provides you with the opportunity to lease out the unit to provide a passive income stream. The units are low maintenance with low strata fees, and all outgoings are paid by the tenants, therefore there are low ongoing costs.

If you require a storage unit for a prolonged period of time, than purchasing a unit is a better long term investment than renting. On comparison of buying or renting a 22sqm unit over a five year period, you could be $27,000 better off purchasing a storage unit.

There are costs such as settlement fees involved in the purchase and sale of any property and it is important to include them in any calculations you may conduct when working out what best suits your needs.

Also, storage units cannot be sold overnight and you may need to prepare several months in advance to dispose of any property assets.

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Renting a storage unit
Renting a storage unit provides flexibility in that you can come and go as you please with tenant agreements signed for a minimum of six months.

Any money spent on rental fees are final and renters do not benefit in any capital growth the units may experience.

Business storage can be tax deductible, so make sure you talk to your accountant about your options.

Multi Storage is able to help with all your storage needs and are happy to answer any questions you have about buying or renting. Please feel free to make an enquiry today.


FREE REPORT: 5 THINGS YOU SHOULD KNOW BEFORE YOU BUY OR INVEST IN A STORAGE UNIT
This free report will help you avoid the common mistakes when leasing or investing in a storage unit in Perth. After reading this report you will have the peace of mind knowing you have chosen the right storage unit that best suits your personal or business needs.


WHY CHOOSE US

Here’s couple reasons why you should choose Multi Storage – WA’s highest quality storage facilities that provide the most secure, sustainable, cost effective and energy efficient storage solutions.

 

    • SMARTER

      • All our sites are fully automated
      • Our facilities are designed to allow easy access to maneuver your vehicles and goods
    • SAFER

      • State of the art alarm system — with tiered layers of security you won’t get elsewhere
      • Electric gate
      • Individual alarms to every unit
      • CCTV — keep an eye on your assets even when you are out of town
      • Monitored security
    • STRONGER

      • No flimsy tin walls between units — all our walls are made from strong fire rated materials
    • SMALL COMPLEX

      • You don’t have to compete with lots of other people to move around the site
      • No nosy neighbours
      • Sites are kept immaculate
    • BIGGER

      • Our smallest unit is the size of most of our competitors biggest
      • 23m2 to 109m2
      • Units suitable to fit most vehicles and toys
      • Great for businesses for storing vehicles or materials
      • High ceilings so you can increase your floor space with shelving or mezzanine floors
    • Longer access hours

      • Osborne Park is open 5am – 8pm. 7 days a week
      • All other sites are accessible 24/7