The recreational vehicle and boating industries have experienced steady growth for the last 40 years in the United States. This demand reached new heights with the onset of the pandemic as Americans changed the way they travel, vacation, and live. Recent stats show:
Unfortunately, most Americans don’t have the luxury of making waves and road tripping year round. Several months of the year, they need a secure place to park these high-value assets—they need vehicle parking at a trustworthy self-storage facility.
Vehicle parking presents significant revenue opportunities for self-storage operators that extend beyond simply collecting rent. Just like tenant protection programs for unit rentals, significant revenue—often tens of thousands of dollars per year—can be generated by offering protection to customers storing their vehicle on your property.
Perhaps the most appealing aspect of tenant protection plans for vehicle parking is the value provided to your tenants. In many cases, they receive protection against damage to the vehicle’s exterior, theft or damage to OEM parts, and external damage to the vehicle from a burglary or attempted burglary while it’s stored on your property. And should the tenant need to file a claim, they’ll be delighted with the low deductible compared to their pricey insurance policy.
As a reminder, finding the right partner to administer the tenant protection program is key. Look for a partner that offers high revenue share, low-deductible plans with adequate coverage, and doesn’t require licensing or upfront costs to implement the program.
To learn more about SafeLease’s Tenant Protection Program for vehicle parking, click here.
1. Recreational Vehicle (RV) Industry, Facts And Statistics For 2022. Link
2. U.S. Coast Guard. 2020. National Recreational Boating Safety Survey. Link