Ancillary income -- "PODS"-like storage units?

We have an unused fenced yard at one of our properties and were considering setting it up as a public storage area for residients with PODS-like storage units. We would buy the units & lease to residents -- ideally at rates at or below the rate for comparable units located further away.

Has anyone had experience with similar projects -- or have suggestions on this?

Thank you,

Jeff Kole
Kole Management
ApartmentSavannah.com

Here are a couple of ideas I have used:

Boat and RV Storage - Install a paved parking area and rent these spaces to Residents;
Install a really spectacular Community Garden Area for Residents; sell produce at a Farmers Market;
Install a Bark park complete with Agility Training area (a nice amenity to have)

If you do utilize for profit, I suggest that there be some additional security measures taken, such as a keyed entry; however, inform Residents of the Indenity Clause. Also, what kind of lighting will there be? Residents who want 24-hour access may require the area to be well-lit, which can add to common area electric costs.

I am a believer in alternative energy sources:

Contact your utility provider about installing solar panels in such a way as to sell excess power back to the provider and have your meters run backward. Your residents pay nothing for electricity and you have an instant marketing amenity: 'Live here and pay nothing to keep the lights on'. You might even be able to do this without paying anything up front.

If you have residents that either have or may consider electric or hybrid vehicles; there may be a need to install charging stations. You could set these up either on a monthly basis (like renting a garage), or a per use basis (like laundry machines). There may also be government funding or incentives for you to install them.

These set examples for your competition.

You may also be able to offer WiFi access to your residents for an extra $10 per month on their rent.