We are looking at purchasing storage sheds. As these sheds were managed by the owner, we were in a position of having to find a property manager. None of the EA’s in this town are willing to take the sheds on. After speaking to the vendor about this, they realise that the property will be unlikely to be sold without management being easily found. They have lined up another person who has his own business and works from a shop-front office, who is happy to take over management/maintenance and will sign appropriate contracts. There are 60 sheds and all are currently leased, with a waiting list.
This may be a good situation, or may not. We’ve spoken to the Real Estate Instutute to find out where we stand with legalities of evicting “goods†if rent is not paid etc. and will be OK with this type of property management in place.
This is our first commercial investment so any ideas would be welcome.
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