JUMP START YOUR STORAGE PROJECT

• If there is a piece of property you want to purchase, this may be the perfect time to negotiate special terms with the owner, such as adding contingencies making the sale conditional on obtaining permit(s) or variance(s).
• If you already own your property outright or are making payments, waiting may work against you in today’s economy. You are already disbursing money on property taxes and/or making monthly payments. So, perhaps, getting started on completing essential tasks, will keep you ahead of the competition.
• By utilizing an ‘Engineering Only Contract’ with Tech-Fast, you can begin completing key portions of vital phases and also, offset some of the upfront costs -- not binding you to a building contract in exchange for a guarantee to provide the building.
• While storage facilities have often been called a recession-proof industry, Tech-Fast likes to call it a recession-resistant industry. Storage is required during good and bad economic times. But it is critical to know the storage demands in your area.
• Completing a feasibility study is extremely important—do an inquiry of the company’s flexibility to update the feasibility study at a reduced charge when you are close to breaking ground or obtaining your financing to make sure the study is still favorable. If you need assistance getting started, Tech-Fast can help.
• Have preliminary meetings with your local jurisdiction on fire, life/safety and accessibility requirements. This pre-planning can reduce the turn-around time for permits and limit the number of resubmissions. Tech-Fast can help with a basic layout for your presentation(s).
• Keep track of current or potential competitors— examine the local market for positive or negative trends. Where are unit prices? Are they holding or increasing? Are vacancies rising or falling? Existing sites are your best barometer for knowing what is going on in your marketable area.

• Refine the site layout based on feasibility study results and preliminary meetings with the public officials.
• Are changes such as smaller or larger unit mixes, interior hallways or multi-story buildings beneficial to maximize occupancy or space utilization?
• Determine whether heating, cooling or moisture control is needed in some or all units in the facility. This could separate you from your competition and increase marketability.
• Continue to diligently work on variances or conditional use permits.
• Inquire the time constraints for completing the permit process.
• Is the area pro-growth or anti-grown?
• Work to resolve any wetland or other environmental issues.
• Healthy competition between lenders can be helpful during your loan process - remember to use local community banks and credit unions that seem to have funds available for lending at this time.
• Nationally, the most favorable times to open a facility are May through September, so plan ahead to ensure your facility will open at the optimal time.

• Work with a building supplier rather than an engineer for building design. Typically, building suppliers are willing to offset some of the upfront costs in exchange for a guarantee to provide the building.
• Permit costs are generally not incurred until pick-up. Often a permit can be extended by six-months if needed prior to project commencement. Your advance work with local building officials should make this an easier process if it becomes necessary.