Many times, when self-storage owners and operators think of ancillary income, they may be thinking about earning a few hundred dollars more per year on selling boxes and packing tape. The truth is, if you’re treating avenues for ancillary income as serious revenue streams, you can make serious extra revenue....
News & Announcements
WEEK ENDING 8/18/23 Knightscope to Provide Self Storage Security Robots to Industry Leader Knightscope, Inc., a leading developer of autonomous security robots and blue light emergency communication systems, has announced a new contract with a self storage company for an initial order of five K5 Autonomous Security Robots (“ASRs”). The...
Many times, when self-storage owners and operators think of ancillary income, they may be thinking about earning a few hundred dollars more per year on selling boxes and packing tape. The truth is, if you’re treating avenues for ancillary income as serious revenue streams, you can make serious extra revenue. ...
Fires, floods, hurricanes, burglaries and finding hazardous chemicals in storage units are just some of the disasters you may have – or will encounter – running a self-storage facility. “Unfortunately, I’ve had the misfortune of experiencing about every disaster with our facilities,” says Beau Agnello, senior vice president at Pogoda...
I have to start out by saying….I love dogs! I can’t remember a time in my life that I didn’t have a dog and I understand the beauty and companionship that dog owners feel about their pets. So, I can understand when facility managers bring their pets to work, either...
Over my 46-year property management career I have managed everything from apartments to large 400,000 sq ft warehouses and lots of self storage properties. Some of those storage properties included ancillary real estate / businesses such as small retail spaces, self service car washes, business incubator spaces, contractor large bay...
Much has been discussed recently about the growth of technology to manage the shift towards “unmanned” facilities or “contactless” self-storage. Certainly, operators are heavily invested in offering their customers a safe and secure experience while using their facility, whether any site employees are present or not. To offset the absence...
Within the retail industry, protection plans are not new. It’s likely that a sales associate or online shopping cart has prompted you to purchase a protection plan for anything from a television to a carpet scrubber. These protection plans, which vary in price and coverage length, depending on the item...
In 2021, self storage was the darling of the Wall Street Journal, with the paper declaring the industry “The Pandemic’s Hot Property.” Last week, the same outlet reported that self storage rents and occupancy had fallen to record lows as the “Pandemic Boom Cools.” But is this really accurate? The reasons...
When considering a self storage conversion, it’s important to understand the most essential factors that either make or break the project. These factors include building requirements, market demand and financial feasibility. In this article, we will discuss how to maximize ROI when converting a building into a self storage facility....
It’s been a busy couple of weeks for self storage mergers and acquisitions. On Monday, Public Storage – the most active private-market acquirer since 2019 – and Blackstone Real Estate Income Trust, Inc. (BREIT) announced an agreement in which Public Storage will acquire Simply Self Storage (Simply). The Simply portfolio...
Following approval of shareholders from both companies, the finalization of the Extra Space and Life Storage merger last week resulted in a new leader when it comes to the title of “largest self storage operator in the country.” This was one of the largest merger and acquisitions (M&A) deals in...
Shortcuts aren’t always a bad thing. We’ve all performed tasks that were needlessly time consuming or convoluted, and removing steps ultimately improved the process. It’s the idea behind the concept of “working smarter, not harder.” However, there are times when shortcuts can lead us down a dangerous path, which is...
If you asked a self-storage owner 40 years ago about temperature or climate control, they likely would have looked at you like you had dropped in from the future. First-generation owners/operators had the same model, which typically consisted of metal buildings with roll-up doors. People didn’t necessarily worry about the...