With 2022 coming to a close soon and Q4 about to end as well we can see how occupancy has compared to the all time highs of 2021.
Q3 2022 occupancy as compared to the Q3 2021 occupancy is
Occupancy has decreased across the board from Q3 2021 when compared to Q3 2022, a sign that demand has decreased since the drivers for self storage brought on by COVID-19 have simmered down. While this is somewhat expected as COVID-19 had unprecedented conditions, it will be interesting to see if occupancy rates will increase YoY for Q4.
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.