“When we look at building a hangar for a client we see someone who has made a significant investment. It doesn’t matter if it’s a Cessna 150 or a Gulfstream V,” noted Seth Kohn, president of New Castle, Pa.-based Fleming Steel. “People usually buy the most airplane they can afford, so it is always a major investment for everyone. Our first consideration is what we need to do to protect that investment. That’s what a hangar is–protection for an investment. Leaving an aircraft on a ramp is a costly mistake that results in premature aging, damage from hail, storms, ice and wind and otherwise avoidable repairs and maintenance. And it isn’t simply the cost of the repair or maintenance, but there’s the downtime and the cost of renting a replacement.” As an aircraft owner you have two choices–lease someone else’s facility or build your own.
It is curious that few people interviewed for this article had the slightest idea what the going lease rate is for hangar space is outside their local area. Not surprisingly, the prices of real estate and population density have a profound effect on rates that range from one extreme to the other. What is clear is that rates are a function of the value of the customer to the FBO.
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