The demand for self-storage in Canada is growing, especially in urban centers. Toronto, for example, has a population of 6.2 million people. Increasing urban densification, however, has led to a shortage of space. Prices in certain locations can exceed $50 CAD per foot. With these factors in mind, it’s not surprising that some self-storage owners are asking for premium rates. This is an opportunity for self-storage investors and owners.
Self-Storage in Canada
While Canada is not yet at the stage where the US is in regards to self-storage, it is leaps and bounds ahead of the US in this regard. The industry continues to grow and more self-storage facilities are coming online. As these new storage facilities are constructed, they will be offering more amenities and services to customers. In addition, new self-storage facilities will be more spacious than ever before.
Property taxes on self-storage facilities are currently being reviewed by various government agencies. Those who are considering self-storage facilities should be aware that property taxes can increase by as much as 40% in some cases. This could force many facilities to close, and is a constant threat. While the Canadian Self Storage Association has been lobbying against this change for over 10 years, the threat is still looming over the industry.
Drive-thru storage facilities in Canada
Currently, there are only a few drive-thru storage facilities in Canada. All Canadian Self-Storage has one such location in Toronto’s Centre. In addition to drive-thru access, the company also offers a full security package and a gremlin-free environment. To learn more about this particular location, click on the button below. Drive-thru storage facilities are the best choice if you need a secure, convenient, and hassle-free self-storage facility.
Outdoor storage facilities in Canada
Canadians have big toys. They own cars, recreational vehicles, trailers, boats, and all types of watercraft. Whether you need a secure place to store one vehicle or a fleet of vehicles, outdoor storage facilities in Canada can help you keep your big toys safe and secure. To choose the best storage facility for your needs, you need to understand the differences between indoor and outdoor storage. Below, you’ll learn about both types of storage facilities and what to look for in each one.
Across the country, there are outdoor storage facilities available. Canada has a large population, and there are several companies vying for market share. StorageVault, the only Canadian company listed on the TSX Venture Exchange, is investing $800 million to expand across the country. The company plans to open eighty new locations in Toronto and considers national expansion. While in the city of Toronto, Dymon is developing the country’s largest storage facility, covering nearly three-hundred acres in the west end of the city. The facility will include a wine storage area with a lounge for tastings.
Opportunities for self-storage owners and investors
Real estate syndication, REITs, and building your own facilities are some of the ways to invest in self-storage properties. Real estate syndication involves pooling capital and selecting a general partner. The general partner finds, plans, and transacts the deal. Self-storage owners and investors can take an active or passive role in this investment. If you have the capital, investing in self-storage properties is an excellent way to invest in real estate.
The Canadian self-storage industry is on an upward trajectory, following a similar trajectory to the U.S. industry. Demand for storage is rising, prices are increasing, and investors are chasing the opportunities. Canada has one of the largest cities in North America, but self-storage properties are smaller per capita in Canada than they are in the U.S. Canada has a smaller military than the U.S., so its population tends not to move as frequently. Canadian sailors and soldiers don’t need as much storage space.