Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

$200,000 Boat Tenants Have Expectations

11 Apr 2026 · 1 min

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0:43

In this instructional segment, the speaker outlines a due‑diligence checklist for tenants leasing storage space for a $200,000 boat. The guidance emphasizes documenting the facility’s surface condition—identifying whether it is paved, compacted gravel, or dirt, and noting any rutting, pooling, or drainage problems with photographs—to gauge the operator’s maintenance standards and plan capital‑expenditure timing. The speaker also mandates seven specific financial record requests to be included as contingencies in the Letter of Intent (LOI) or lease contract, or obtained prior to signing. Crucially, the tenant should obtain at least 24 months of monthly revenue data (not just annual summaries) to assess the facility’s financial performance.

Chapters

The tenant storing a $200,000 boat has expectations. Document whether the facility is meeting them. Surface condition is important as well. Is it paved, compacted gravel, or dirt? Note any rutting, pooling, or drainage issues. Take pictures. The surface condition tells you the operator's maintenance standard and your CapEx timeline. Now you got 7 financial record requests and all of them need to go in your LOI and contract as due diligence contingency, contingency Or you ask for them before you sign. 24 months of revenue, monthly revenue, not an annual summary, minimum 24 months, month by month.