Maintaining Older Self-Storage Facilities

There are roughly 60,000 self-storage facilities across the United States, and many of them are more than 20 years old. Like any home or long-standing property, these facilities need regular care to stay in good shape and remain attractive to tenants.

That raises a common question for owners. How much should you plan to spend to keep your facility competitive and well-maintained?

There Is No Single Answer

The reality is that maintenance costs vary widely. Each facility is different, and factors like age, prior upkeep, and location all play a role. There is no universal rulebook that tells you exactly what to set aside each year.

That said, a helpful starting point is to budget around 8 percent of your Net Operating Income for capital expenditures. This covers ongoing maintenance, not major upgrades or expansions.

Another way to think about it is on a per square foot basis:

• Newer or well-maintained facilities may need about $0.25 to $1.00 per rentable square foot
• Older properties or those with deferred maintenance may require $1.00 to $2.50 or more per square foot

In the end, it comes down to the specific condition of your property and how proactive you have been over time.

Where Should You Focus First

For many older facilities, the issue is not whether to spend money. It is deciding where to begin. Some properties need attention across the board, while others allow a bit more flexibility to prioritize.

If you are able to take a more strategic approach, here are five areas worth focusing on first.

1. Prevent Water Problems Early

Water damage can escalate quickly and become very expensive. Roof leaks, clogged gutters, poor drainage, and wall issues can all lead to damage not only to the building but also to tenants’ belongings. Taking care of these issues early helps protect both your asset and your reputation.

2. Fix Paving and Drainage Issues

Cracked asphalt, uneven concrete, and poor drainage can create safety concerns and give your property a neglected look. First impressions matter. A clean, well-kept exterior makes it easier to attract and retain tenants.

3. Repair or Replace Unit Doors and Hardware

Doors and latches may seem like small details, but they play a big role in tenant confidence. When everything works the way it should, tenants feel more secure and have a better overall experience. That can lead to stronger leasing activity and fewer collection issues. Most door manufacturers (including SteelBlue and Trac-Rite) already have programs to retrofit aging doors for an easier experience.

4. Improve Security and Access Control

Security is one of the first things potential tenants think about. Upgrading gates, lighting, cameras, and keypads can make your facility feel safer and more modern. Adding smart technology such as the PTI AP1 smart keypad or PTI ProEdge smart latch can further reinforce your commitment to protecting tenant property.

5. Stay On Top of HVAC and Climate Control

If you offer climate-controlled units, your HVAC system has to perform reliably. A system that does not work properly can quickly lead to unhappy tenants and lost business. Regular maintenance helps extend the life of the system and prevents costly breakdowns.

Plan Ahead to Make It Easier

There is no perfect formula for maintaining an older facility. The one constant is that maintenance will always be part of ownership.

Owners who plan ahead and budget for these costs are in a much stronger position. It reduces surprises, spreads out expenses, and helps keep the property competitive over time.