If you’ve been taking a wait-and-see approach to costly renovations or repairs this year, it’s not too late to get started with the right strategies—and by acting now you can see a big payoff.
In fact, recent changes to the federal tax code and bonus depreciation offer significant tax savings for property owners who invest in improvements. Check out “The Complete Guide to Self-Storage Renovations and Cost Segregation” to find out what that means for you, including next steps for estimating potential savings.
You’ll find that many products and services from Janus International’s R3 (Restore. Rebuild. Replace.) division are eligible for Cost Segregation and Section 179D incentives. Here are 5 ways you can maximize tax savings by working with R3 for your facility improvements:
- Door Replacements & Hallway Reskins allow you to quickly replace aging doors—up to 25 doors installed in less than 24 hours—to immediately spike curb appeal and the value of your portfolio.
- MASS relocatable units—which are steel versus many of the plastic portables on the market—fully depreciate in year one, all while allowing you to optimize space with more net rental square footage.
- Unit remixes for high-demand units help you generate more revenue. For example, R3 recently converted 30% of small units into larger units at a facility that resulted in a 35% annual revenue increase despite having fewer total units.
- Cost segregation experts guide you on ways to pay for renovations with tax benefits that accelerate depreciation on your property by up to 100%, reduce taxes and boost cash flow back into your facility. Facilities working with R3 find out how to write off discarded items like pallets of doors and locks and aging security systems.
- Security upgrades like replacing inferior doors with the industry’s highest security NS doors and Nokē Smart Entry retrofits can dramatically reduce break-in rates—with facilities dropping from double-digit break-ins to zero.
Ready to save money on your renovations?
