Dean is advertising these:
In my view storage units are more akin to boarding houses when calculating value and return. This is because the leases for storage units are casual and quite unlike the formal leases used for regular commercial premises, such as shops, factories and offices.
You may find that it will be difficult to obtain finance for these as lenders treat them as casual tenancies, the theory being that they could be vacant for long periods of time with no personal guarantees to fall back on, and no leases to enforce. They also need intensive management to ensure they remain full.
In my view storage units are more akin to boarding houses when calculating value and return. This is because the leases for storage units are casual and quite unlike the formal leases used for regular commercial premises, such as shops, factories and offices.
You may find that it will be difficult to obtain finance for these as lenders treat them as casual tenancies, the theory being that they could be vacant for long periods of time with no personal guarantees to fall back on, and no leases to enforce. They also need intensive management to ensure they remain full.
Comment