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Thumb of Michigan | This is just a FWIW: I rent a fair amount of square footage out, but smaller than what the OP is taking about. Generally speaking, the less the sq footage, the more per sq ft I get.
The largest self storage units I rent are 12 X 40. 12' door. I get $165 a month. Thats 34 cents a sq ft per month.
Now IF the OP could get the same rent per sq ft, thats about $2490 a month. I'm not suggesting at all that thats a possibility, but just to put it in a little perspective.
That rent INCLUDES property taxes, insurance, and maintenance. Which I'm going to assume is the case with the OP- and maybe not the case with those who claim they can build cheaper?
The other consideration is whether the tenant is considering renting the sheds for a long time or just short term. Because building a building is a long term commitment. If I need storage for just a few months, or I think my needs will change in 3 or 4 years, I sure wouldn't be looking to build.
Now, with all that said: I do rent a pole shed with a gravel floor for less than 50 cents per sq ft a year. Not saying thats the correct number, but its working for both parties right now far as I can tell. For "here" I think its maybe closer to right than is the 20 cents per sq a month you'd like to get. Just my opinion, and worth every penny you paid for it.
Edited by pat-michigan 4/11/2024 05:22
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Renting Machine Shed
