Self Storage Business Expense
While overhead is relatively low in the self storage business, it is still something to keep an eye on. The prudent real estate investor will always pay attention to their expense line items and be sure to keep them under control. In the current recession, it is even more important to evaluate the bills and keep those expenses down.
One of our self storage facilities recently received our property tax bill. Upon close review, we realized that we were being charged $5 for television service! When we called, the person on the other end of the line said,
“Oh, we are trying to determine who uses our service.”
What? You’ve got to be kidding me!
In order to get our refund, we have to fill out a form swearing to the fact that we do not use their television service.
On a much larger scale, a self storage owner recently received a bill for $8,000 – due to the mistake of the city!
Large or small, mistakes in billing occur all the time. It is worth it to take the time to review all those charges and make sure they don’t contain errors. Over time, it adds up thousands of dollars.
Date: February 10th, 2009 @ 10:54
Categories: Expense
