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Tax savings

Question That Value: Long-Term Business Property Tax Savings

It is the rare self-storage owner, operator, manager, or industry professional who doesn’t attempt to keep the operation’s annual income tax bill to a minimum with tax planning, either year-round or end of the year. Why then is a bill for a tax that is one of the biggest expenses...

Cap Rate Compression Continues – Newmark Investors Survey Q3 2021

The self-storage asset class is now generally considered CORE or CORE+ commercial real estate, comparable to office, industrial, retail, and apartments based on robust underwriting criteria in our latest Investor Survey for the sector. Since our last survey six months ago, cap rates have compressed an astonishing 44 basis points,...

Fair Assessments – How To Appeal Property Taxes

Studies have shown that property taxes are the most hated taxes in America. Why? There might be several reasons, including the question of why we should continually pay taxes on property that we own, how the taxes are assessed, and the fact that jurisdictions can not only charge interest but...

Owner’s Alert

Undercurrents That Facilitate Optimum Asset Values A series of undercurrents influence executive decisions in the board room, especially with the myriad of asset classes and wide array of business models that permeate the self-storage industry. Some invest long term for a quarter of a century, while some have a five-...

Storage CX: The Customer Experience

The Next Competitive Battlefield The self-storage customer experience is changing. You may even be wondering why it’s called customer experience and what all the hullabaloo is about. The term customer service is different from the experience the customer has when using self-storage. The customer experience referrers to the interactions that...

Financing A Facility

SBA 7(a) Loan Offers Ideal Option For First-Time Self-Storage Owners When Jennifer Perkins decided to open a storage facility just west of Nashville, Tenn., she spoke with many banks in her quest for financing. Ultimately, everything pointed her to the SBA 7(a) product. The SBA 7(a) loan program was a...

Let’s Make A Deal

The Cost Of Concessions The Christmas season is behind us, but some retail establishments may still be adjusting from the hustle and bustle of the most profitable time of the year. Shelves once overflowing with holiday merchandise now don discount signs in an effort to move product and make way...

The Descending Economy

Is Plunging Performance Problematic? At the moment, descent is not a problem. However, it is a situation most segments of the economy are beginning to confront—that we are over the peak and heading down the other side of the curve. Self-storage is slipping into the same trend line. After years...

New Year, New Concerns

Rising Interest Rates And Rougher Financing Tides Another year, another year for which to be thankful. As 2018 ends, we can be thankful the self-storage industry enjoyed yet another year of growth, increasing income, and higher property valuations that were fueled by strong occupancies, year-over-year revenue increases, record investor demand,...

What It’s Worth?

Determining The Real Value Of A Property Operating a self-storage business also means owning a property—a physical building where tenants rent space. After becoming established, the owner/operator typically becomes mostly concerned with the day-to-day tasks of servicing customers and meeting payroll. But equally important is the need to keep tabs...

Pawns Of Price

Stalemates In The Sales Process According to one source, there may be $400 million in self-storage properties that have sat on the sales market for more than two years. By all accounts, storage facilities have never been worth more and experts generally believe self-storage fundamentals remain strong, yet these properties...
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