Real estate overheating: meteoric demand for mini department stores

In the current context of an overheated real estate and hardware market, storage space is a coveted commodity, found two Côte-de-Beaupré entrepreneurs who have seen their new mini-warehouses rent out at lightning speed.

Dominic Duval and Darragh Murphy, co-owners of the new company Mini-Entrepôts Québec, knew their product filled a need in Côte-de-Beaupré, where they offer this type of storage on a monthly basis.

However, they had not expected that the rental of their 105 premises would go so quickly.

“It’s already full!” My colleague, who is always optimistic, said, “It should be full by the end of May.” I thought by the summer of 2022 we should be full. And at the end of April everything was finally rented! »

Increased demand

It must be said that storage rooms are very popular these days, notes Mr. Duval, when all the elements are in place to increase demand.

First, the overheating in the real estate market meant that households had to find rooms quickly.

Mr Duval explains that many families are selling their homes faster than expected and need to find solutions to temporarily store their furniture while they find a new roof.

Still others have to wait because their house under construction is not ready on the promised date due to a lack of labor and the deadlines are getting longer.

Given the scarcity of building materials, some even store goods.

“They were so afraid of running out of wood, doors, etc. that when something was available they wanted to stockpile it in anticipation of building,” he says.

Temporary solution

In addition, the housing shortage is causing headaches for many tenants and is forcing many people to find an interim solution.

Also, during the pandemic, people have been buying outdoor gear that takes up space, like kayaks, bikes and paddleboards, that need to be found, the entrepreneur lists. “People use it to declutter. »

Construction of the two-story building began in Château-Richer late last summer. The building wasn’t even finished on the outside, so that several customers arrived in the spring.

Satisfied with the response from customers, the two businessmen finish everything.

Between $80 and $470 per month

The spaces are rented monthly at a price of 80 to 470 US dollars, depending on the space available.

Mr. Duval points out that customers often have specific and time-limited needs, which means hypermarkets become vacant on a regular basis.

But he notes that in the current uncertain environment, people have sometimes underestimated the length of the transition period and need to extend their rental periods.

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