I’ve heard of some operators buying Carports, and then installing and renting them to tenants for various amounts of money. I’ve very recently tried this with Sheds, and it seems to do well at a 25/mo price point (Midwest park).
For carports, is there a company you guys recommend, what is reasonable pricing/material of the carport, and how much were you renting them for? Would like some insight since unlike sheds, I have never messed with carports.
Thank you.
Great idea.
I have also rented Sheds for $50/mo (SoCal Market). I build them for about $1,000 and put them on the space and rent them out. Pretty good ROI. I can’t think of many places you can invest $1,000 and get $50/mo return.
I have not done the carport thing, but I do rent RV storage $147/mo for a 12 x 40 spot. I also rent extra parking spaces for $20.00/mo per space.
All these extra income streams can really add up. I collect over $5,000 a month on accessory uses.
Check your local Zoning rules for what is considered an accessory use for you Parks and start making extra money.
Remember if you are adding significant amounts of owned property to your park, you may want it insured. Wind storms love carports.
Sounds great if you have extra space. I don’t have much space at all unfortunately to work with other than the lots themselves.
Would you say $50 is just because it’s SoCal market?
@KurtKelley Say you insured 20-50 metal sheds, 8X8, would it be a lot for the premium yearly? Just trying to get an idea of cost. Cost per shed is 1/1.5k.
I get $50.00 out here in CA. Maybe you could get more or less. I don’t know.
I would love to get $100/month
The cost varies dramatically by location. It’s highest in the counties that touch the Gulf or the Atlantic, or those in the big wind/hail hazard areas (OK, N. TX, Kansas…).
An average rate for insurance would be about .8% of the insured value. Ex. 100 carports valued at $2,000 each = $200,000 of coverage. 200,000 x .008 = $1,600/year.