What are the benefits of owning vs renting a storage unit?
Investment and the ability to build equity, possible income tax benefits, option to customize your space, future return on investment, financial control.
Are the utilities separately metered?
All utilities will be billed to Ultimate Garage Club and incorporated into HOA dues. UGC will have private meters to be able to monitor usage by individual owners. HOA documents will define this in detail.
What type of construction are the buildings?
Can I finance my Garage Condo?
Yes, High Plains Bank. Visit the financing tab.
Can I run a business out of my storage unit?
Potentially, your business model must be in agreement with the HOA association by-laws. Any retail business that needs a walk-in customer base is absolutely prohibited.
Who pays for property insurance?
The association will carry an insurance policy to cover the common building elements and common areas shared by all owners. Individual owners will be responsible to carry an insurance policy to cover their own unit, any improvements, and the contents.
How are taxes paid?
Individual owners will be responsible to pay property taxes on their unit as identified by the county.
How is the property classified?
It’s commercially zoned.