A self-storage facility combines an operating business with real estate, recurring rentals and property-specific risk. A qualifying acquisition, expansion or improvement plan should therefore explain both the rent-roll cash flow and the physical asset. This guide covers occupancy, revenue quality, market supply, property condition, project costs and reserves before a business compares potential funding paths.
Define the transaction and complete sources and uses
Separate an acquisition, refinance, expansion, conversion, major repair, equipment purchase and ordinary working-capital request. Each can involve different collateral, approvals, timelines and potential funding structures.
Build a complete sources-and-uses schedule covering purchase or payoff, closing costs, inspections, appraisal, environmental work, legal and professional fees, improvements, equipment, prepaid expenses, contingency and post-closing reserves. Identify the proposed equity contribution and its source.
The CashMigo self-storage facility funding page provides a focused starting point. Request capital around verified property economics and a conservative operating plan rather than only an asking price or projected stabilized value.
Reconcile physical and economic occupancy
Physical occupancy measures the portion of rentable units that are occupied. Economic occupancy measures the rent actually collected compared with potential rent after concessions, discounts, delinquency, write-offs and offline units.
Show occupancy by unit size, climate-control status, building or phase when practical. Explain move-ins, move-outs, promotions, auction activity, seasonal patterns and units that cannot currently be rented.
Compare monthly management reports, the rent roll, bank deposits and financial statements. Large differences between occupied units and collected revenue should be explained before projections are used in a funding request.
Tell CashMigo what the business needs, how much and how soon. We will review the request and help identify potential next steps.
Check My Funding Options →Review the rent roll, unit mix and revenue quality
Prepare a current rent roll showing unit type and size, asking rent, achieved rent, move-in date, concessions, delinquency and vacant or offline status. Summarize tenant insurance or protection-plan income, truck rental, retail sales, late fees and other recurring or nonrecurring revenue separately.
Measure average achieved rent by unit type and compare it with current asking rates and nearby competition. Do not assume every existing tenant can immediately be moved to the highest advertised rate without additional churn or collection risk.
Review delinquency aging, autopay adoption, bad debt, auctions, chargebacks, refunds and collection procedures. Protect tenant privacy by using summarized or properly redacted information for an initial review.
Evaluate the market and lease-up plan
Document population, households, housing and business demand, visibility, access, nearby development, climate-controlled supply and competing facilities within a reasonable trade area. Market boundaries should reflect how customers actually choose storage, not only a fixed radius.
For an expansion or conversion, show existing occupancy, waitlists when reliable, lost-demand records, unit mix, planned phases, construction timing and the expected monthly lease-up. Use a base case and a slower case rather than assuming immediate stabilization.
Include marketing channels, management capacity, pricing strategy and customer-acquisition costs. A high projected stabilized value does not eliminate the cash needed during construction and lease-up.
Inspect property condition and improvement costs
Review roofs, drainage, pavement, foundations, doors, fencing, gates, access systems, electrical service, lighting, cameras, fire and life-safety systems, elevators, HVAC for climate-controlled units and storm or flood exposure with qualified professionals.
Obtain detailed contractor bids and separate urgent repairs from optional upgrades. Include permits, design, engineering, utility work, phasing, tenant disruption, contingency and the effect of taking units offline.
Confirm zoning, certificates, licenses, accessibility, environmental, insurance and code matters with qualified advisers and current authorities. Funding does not establish that a property or proposed use complies with any requirement.
Normalize operating income and expenses
Start with actual collected revenue and document management fees, payroll, utilities, insurance, property tax, repairs, security, software, advertising, merchant fees, lien or auction costs, snow or landscaping, professional fees and replacement reserves.
Normalize related-party or one-time items carefully and explain every adjustment. A buyer should not simply remove expenses that will continue after closing or assume an owner can operate without appropriate payroll, management or maintenance.
Model debt service and proposed financing payments after essential expenses and a capital reserve. Test higher insurance or property taxes, slower collections, lower rents, unexpected repairs and a delayed lease-up.
Evaluate acquisition terms and transition risk
Review the purchase agreement, due-diligence period, deposits, financing contingency, closing conditions, included assets, excluded cash or receivables, prorations, security deposits, tenant records and seller transition responsibilities with qualified counsel.
Reconcile seller tax returns, financial statements, rent rolls, bank activity, management reports and operating records. Independently verify material representations about occupancy, rents, delinquency, property condition and development approvals.
Plan the transfer of management software, gate access, merchant processing, websites, phone numbers, insurance, utility accounts, employees and tenant communications. Maintain data security and avoid receiving tenant access codes or private payment information through an ordinary web form.
Prepare a clear, secure funding file
Useful starting records may include property and operating-company bank statements, year-to-date and prior-year financials, tax returns, current rent roll, occupancy and delinquency reports, trailing operating statements, current debt and a sources-and-uses schedule.
For an acquisition or construction project, add the purchase agreement, entity and ownership information, borrower experience, equity source, property-condition reports, contractor bids, plans, permits, environmental and insurance information when requested through an approved secure channel.
Begin through CashMigo's 60-second funding check using non-sensitive business and property information. Do not upload tenant names, access codes, payment-card data, bank credentials, Social Security numbers, tax returns or confidential transaction documents in the general website form.
Compare structure, risk and payment pressure
Compare gross amount, net proceeds, interest or other cost, payment amount and frequency, term, amortization, maturity, collateral, lien position, guarantees, covenants, reserve requirements, prepayment treatment and default terms.
A commercial real-estate or SBA structure may fit a qualifying owner-operated property transaction, while equipment or other business funding may address different eligible costs. Product fit depends on the borrower, property, use of funds, provider and final underwriting.
Place every proposed payment into the base and downside cash-flow cases. Review all property, loan and funding documents with qualified legal, accounting, tax, insurance, environmental and real-estate professionals before proceeding.
Frequently asked questions
Can funding support a self-storage acquisition?
Potentially. Providers may review the purchase agreement, property, rent roll, occupancy, operating history, market, borrower experience, credit, equity, collateral, cash flow and complete transaction structure.
Why are physical and economic occupancy different?
Physical occupancy counts occupied units. Economic occupancy reflects the rent actually collected after discounts, concessions, delinquency and write-offs, which can provide a clearer picture of cash flow.
Can funding support an expansion or conversion?
Potentially. The review may include site control, zoning, plans, permits, contractor bids, contingency, current performance, market demand, lease-up assumptions, equity and operating reserves.
What rent-roll details are useful?
Unit size and type, asking and achieved rent, move-in date, concessions, delinquency, vacant or offline status and summarized ancillary income can help explain the facility's revenue quality.
Should tenant data or gate codes be submitted through the funding check?
No. Start with non-sensitive and summarized information. Use an approved secure channel if detailed tenant, identity, bank, tax, environmental or transaction documents are later requested.
