What Is the True Value of Empty Space?

What is the value of an empty space? That might sound like a philosophical question, but it’s actually quite literal.

Many people own or manage properties or locations that stand empty, unused. That might involve a driveway or parking spot; it might involve a spare bedroom or storage closet. It might involve an entire piece of land or an entire building—from a tool shed to a warehouse. 

When you really think about it, most people own or manage empty spaces of some significant size at some point in their lives.

Of course, any piece of physical property holds an inherent value—the price at which you could expect to sell that land or building in a competitive market. But, at the same time, it has zero value unless you are actually doing something with it. 

As long as that space sits open, you are potentially losing money by keeping your empty space. (Or, at least, by keeping your space empty….)

That is to say, you could be currently making money on a piece of property you own without selling it! You can lease empty spaces of all sizes and shapes and conditions to people in need of those qualifications.

Example 1: Someone might need a cold room to store a box of wine ahead of their wedding date. If you have a climate-controlled space, you might be the person who saves them a lot of money in finding a specific locations or vendor to keep that wine ready for the big reception.

Example 2: Companies often switch out their stock according to the seasons, but they don’t always sell all of it before the weather changes. If retail companies are caught with excess stock, you can help by keeping it in your shed for a few months until it’s time to release the boots or bathing suits to customers in stores again.

If you have an empty piece of real estate that is at least 200 square feet, consider listing it on Warehouzz. This online platform connects people who need to store their belongings with other individuals with empty spaces in optimal locations.

Example 1: Someone might need to park their car somewhere safe for a few nights while traveling for business. Maybe they could leave it in your garage or your unused guest spot in the neighborhood parking lot? It’s probably cheaper than a privately-operated parking garage, and then you get the money instead of an anonymous company.

Example 2: What if a business needs to store a shipment for a few nights? In this case, perhaps a supplier drops off a delivery on Tuesday—but the company’s closest truck driver won’t pass through again until Friday. Paying to keep some crates in your spare bedroom or shed might be much cheaper than trying to pay the trucking company to coordinate with the supplier sooner. 

That’s because it costs money to alter contracts; but Warehouzz is contract-free. The flexibility gives people greater room to negotiate situations according to their exact needs and their exact budget. Plus, then normal people can find each other to provide a service and mutually benefit—instead of relying on big corporate companies that only work on their own terms. 

So what’s the value of your empty space? Find out today by signing up on Warehouzz.

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