The Underline: Feeling the Heat from Property Tax

FEeLING THE HEAT FROM PROPERTY TAX…

Last month, we talked about the drastic swing in valuations over the past five years, self-storage owners have been laser-focused on the top line—riding the wave of increased demand, higher rents, and new customers.

But now? Rental activity has cooled. Rates are flat. And when you can’t “make more money,” it’s time to save more money.

We all know that property value is directly tied to Net Operating Income (NOI)… but in today’s market, we encourage you to start thinking of NOI as:

“Not Only Income.”

Because do you know what one of the biggest (and fastest-growing) line items eating away at that NOI is?

Property Taxes!

We’ve seen municipalities get aggressive—especially with self-storage—and we want to dig deeper into how widespread the issue really is.

That’s where you come in.

Help us, help you: Participate in our study.

If your property taxes have noticeably increased over the past five+ years, we want to hear from you. It’ll take about 15 minutes of your time, and we’ll do the heavy lifting.

Send us an email and say: “YES PLEASE”

We’ll follow up with the details of what we need to run our numbers. We’ll gladly share the results of our study with all participants—it might be bittersweet, but you’ll see you’re not alone.

Prefer to call instead? We’d love to hear your story. You can reach us anytime 770-841-4591

SAULS COMMERCIAL REAL ESTATE TEAM