In recent years, the self-storage branch of the real estate industry has become a burgeoning market for practicing commercial appraisers. Familiarity with the ins and outs of self-storage appraisals is beneficial, particularly as knowledge of this specialized market will attract a wide range of investors and clients alike. Your instructor, Tracy Martin, will provide instruction on this continuously growing market by introducing you to the fundamentals of self-storage facility appraisal.
The course assumes that the student is already familiar with the sales comparison approach and the income approach including discounted cash flow analysis. Your instructor will tie this training to the information on the specialty of self-storage facility appraisal.
In this course, you will learn:
- The customers and demand drivers for the self-storage industry
- How to recognize the key elements of facility design that differentiate self-storage facilities and determine quality and value
- The difference between physical occupancy and economic occupancy and the impact of rental discounts
- The revenue sources and expense line items specific to self-storage facilities