Renting lock-up garage?

[n428]

Looking to rent a lock-up garage for storage etc. Not really sure what going rate is, apart from hearing £10-15pw.

Looking at those for sale, typically advertised at £8-9000. This doesnt sound too bad a return, circa. 7.5%. Not a hugely affluent area, around 10% of properties have a garage.

Do you think there are many people looking for lock-ups to store a classic car/ boat/ general storage for something in the region of £50-60pm?

Thoughts?

[plasticpig]

Judging by the three year search I had getting one then yes there is a big demand. The guy I rent mine off does what you are thinking of doing. Has a very long waiting list apparently. As a long term investment it would seem a reasonable return.

[n428]

Can I ask what you pay to rent yours/ what kind of area it is in?

Do you have a long term contract or month-by-month?

Thanks

[plasticpig]

£40 a month on a 6 Month contract. I paid up front for six months but I could have paid monthly on standing order. The area is actually very good (70's private townhouse housing estate in a village) with low crime stats.

[Benny Saltstein]

My brother works for Southwark council. He was saying the rent starts out at around £30pm which to me sounded stupidly cheap.

[Pickled Piper]

Benny Saltstein said:

My brother works for Southwark council. He was saying the rent starts out at around £30pm which to me sounded stupidly cheap.

That sounds about right to me in terms of what I was quoted. However, priority goes to council tenants who own a car and also to disabled tenants. Practically they just never become available to the general public.

pp

[Pothole]

Pickled Piper said:

Benny Saltstein said:

My brother works for Southwark council. He was saying the rent starts out at around £30pm which to me sounded stupidly cheap.

That sounds about right to me in terms of what I was quoted. However, priority goes to council tenants who own a car and also to disabled tenants. Practically they just never become available to the general public.

pp

depends where you live, I applied for one back in October and we were offered one last month. Things have changed so we declined. (I'm not a council tenant or disabled, except for living in Kettering!)

[Solitude]

Currently paying Three rivers district council £8.30/week....clean and dry too !!

[Ferg]

I pay the local housing association £8.50/week. They've just put a new roof and door on too!