Questions Storage Owners Ask Before Selling

We do not charge a fee to review your facility or make an offer, and since the facility sells straight to us, no broker commission is owed at closing. Normal closing costs such as escrow, title insurance and recording are split according to the purchase agreement. The letter of intent spells out which side pays each cost, so nothing about the allocation is a surprise at the closing table.

Yes. We are happy to sign a confidentiality or non-disclosure agreement before you send a rent roll, profit and loss statements or any tenant information. You can use your attorney's form or we can provide one for your attorney to review. We treat tenant data with particular care, since your customers did not sign up to have their information shared.

Not from us. We do not contact your manager, employees or tenants without your permission, and site visits can be arranged to look like an ordinary customer visit. Most owners tell staff once the purchase agreement is signed or closing is near, and we plan the timing and the message with you so the facility keeps running smoothly.

We discuss staffing openly during the process. A good manager who knows the tenants and the property has real value, and we often want to keep that knowledge. We cannot promise every role will continue unchanged, but we will tell you our plans before closing so you can be honest with the people who work for you.

Their rental agreements transfer with the property, so tenants keep their units, their access and their current terms until changed under the agreement. Prepaid rent and deposits are prorated at closing. We coordinate the software export, gate code handoff and a notice to tenants about where to pay so that nobody loses access to their belongings during the changeover.

Past-due accounts are reviewed during diligence and reflected in the offer, so you do not need to clear delinquency before selling. The purchase agreement states who keeps balances collected after closing. Delinquency is common at owner-run facilities, and it mainly tells a buyer how much collection and rate work lies ahead, not whether the property can be sold.

Nevada's storage lien statutes set notice and sale requirements, so a lien process that has started under your ownership needs careful handling. Depending on timing, the sale may be completed before closing or carried forward by the new owner with fresh steps where required. Attorneys for both sides should confirm the approach. We do not provide legal advice on lien procedures.

In some situations, yes. Some owners prefer to receive part of the price over time, and a seller-carried note can be part of the terms. Whether it makes sense depends on the property, the rest of the offer and what you want. Any arrangement would be written into the purchase agreement and a note, and your attorney and tax advisor should review it.

We can coordinate the closing date with your qualified intermediary and the exchange schedule you are working toward. We do not give tax advice, and we cannot tell you whether a particular exchange qualifies or how it will be taxed. Talk with your CPA or tax attorney and your intermediary early, before the letter of intent is signed, so the timeline is set correctly.

Usually, yes. Buyers and lenders of commercial property commonly order a Phase I environmental site assessment, which reviews historical uses, records and site conditions. Storage is generally a low-impact use, but neighboring properties, former uses of the land, fuel tanks or dumping in units can raise questions. If a Phase I recommends further testing, we discuss it with you before going further.

No. Abandoned or unclaimed units are part of buying as-is. We will note them during the site visit and discuss whether their contents are subject to a lien process, which must follow Nevada law. You are not expected to haul anything away, clean the office or empty a residence beyond your own belongings.

Yes. Many older Nevada facilities include a manager's apartment or house. If you live on site, we talk about how much time you need to move, and a short leaseback after closing can sometimes be arranged. The residence is evaluated as part of the property, including its condition and how a new owner would use it.

Request evidence of capital, such as a bank statement or a lender commitment letter, use the Nevada Secretary of State business search to confirm the buying entity is registered and in good standing, and require a neutral title and escrow company for deposits and closing. Have your own attorney review the letter of intent and purchase agreement. Be cautious of anyone who rushes you, refuses to put terms in writing or asks you to pay fees upfront.

You do not have to, but it can help. Some owners get a broker opinion of value or an appraisal so they have an independent benchmark for comparing offers. We are comfortable with that, and we would rather you feel sure about a decision than accept an offer you do not understand. We explain the reasoning behind our number when we present it.

Often, yes. Owners sometimes want to sell the storage operation and keep an adjoining parcel, or sell excess land and keep the facility. A split depends on parcel lines, zoning, access and utilities, and may require a parcel map through the local jurisdiction. We look at those details early so you know whether a partial sale is realistic.

No. We are a buyer, not a law firm, accounting firm, broker or lender. Everything on this site and in our conversations is general information about how we approach a purchase. Before signing anything, talk with a Nevada attorney about the agreement and lien issues and a qualified tax professional about the tax consequences of a sale or exchange.