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...
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...
Self storage investment company VanWest Partners has announced the tenth and eleventh acquisitions for VanWest Storage Fund III. Following these acquisitions, the Fund...
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...
Following a blockbuster, sold-out event in Las Vegas this April, Toy Storage Nation is heading northeast to the Mile High City, June 16, inviting RV and boat storage entrepreneurs to jump...
There’s an old wilderness survival rhyme that goes like this, “If the bear is brown, lie down; if it’s black, fight back, and if it’s white, say goodnight.” In the self-storage environment, momentarily lying still enabled Life Storage, Inc., to not only...
Most people in the self-storage industry know me as the lady in the red dress. At home, the most important people in my life know me as mom. One of those people is my youngest son, Colten. Colten was diagnosed with autism when he was four years old,...
Everyone has them, the employees who are difficult. Maybe they’re late each day, call in excessively, or they aren’t filing reports nor making bank deposits as required. “No one usually wakes up and decides they want to be a difficult employee and do a...
Over the past two years, our industry has seen historical high numbers in both occupancies and income. Not only did we survive through COVID, but we thrived! All of those small units and tucked away, awkward-sized units that were extremely difficult to...
Why Is Employee Theft Common in Self Storage?
Many self-storage owners, real estate developers, professionals and entrepreneurs are not interested in overseeing the asset, much less monitoring day-to-day operations at the property. In the self-storage...
Employers trying to avoid costly OSHA citations are facing new challenges in the form of heightened enforcement activity and greater liability for workplace COVID-19 infections. To lessen their exposure, businesses are retooling their operating...
Weather and climate disasters do staggering amounts of damage and impose huge financial costs annually.
From 1980 through 2021, 310 such disasters occurred in the United States, according to the National Oceanic and Atmospheric Administration’s National...
What started as a business partnership has developed into a mission to collectively impact people in need. In 2020, Lonnie Bickford launched Storage Gives, a sister organization to his online storage auction website, StorageAuctions.com....
Several neuroscience principles limit our ability to creatively solve problems and generate innovative ideas. Understanding some of these principles can help you optimize your creative thinking and innovation processes.
The brain stores no fuel and...
Many studies have found that people want to purchase experiences more than things, but what happens when the concept of experiences and things are combined?
A New Facility of the Year winner is created.
Rockwell Storage, located in the Mill Creek area...
From its earliest planning, the team that brought to fruition Life Storage at The Promenade in Scottsdale, Ariz., faced a monumental design, engineering, and construction foe that “seeks its own level,” as the old saying goes—water.
The self-storage...
One day back in 2014, Todd Amsdell got a return phone call from a broker about a property in Jupiter, Fla.
Amsdell is president and CEO of Cleveland, Ohio-based Amsdell Companies, a privately owned real estate company that specializes in construction,...
Greg Van Cleave has always had a philosophy about life: “If something is supposed to happen, it does, and if it’s a struggle, it doesn’t.”
He says his latest project, Vineburg Wine & Self Storage, located at 1010 Napa Road in Sonoma, Calif., altered...
Faith is more than a five-letter word. It’s a commitment, like the one made between husband and wife. It’s a process, like making approximately 2,300 cold calls before finally securing your first client. And it’s a foundation, like the one that...
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...
Heading into the fourth quarter, it’s safe to say that 2021 has been a fairly profitable year for the self-storage industry. Rental rates at facilities across the country have rebounded, investment capital is plentiful, and new development is on the...
With the shift to our new virtual world, you have probably found it more difficult to build and sustain professional relationships. Yet, the virtual technologies we are all using have actually expanded our opportunities to network and build connections....
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Let’s take a poll. When you need to know something about a business, where do you look? Call it a hunch, but we bet you look online, even if it is just to find the email address or phone number to ask a specific question. From time to time, we are...
The dictionary defines data as “facts and statistics collected together for reference or analysis.” In this digital world, in which facts and statistics are literally only as far away as a finger tap, the question is how self-storage operators can use...
Precious metals, catalytic converters, and self-storage might seem like an unlikely combination, but thefts of catalytic converters are on the rise across the country, including at self-storage facilities. And that mixture has an unsavory outcome....
Neighbor Storage Inc. started with the simple premise that people with extra space in their homes, garages, sheds, or driveways, as well as owners of commercial buildings with vacant space, might want to generate extra income by renting that space for...
It’s a nightmare scenario that haunts every business owner: A troubled individual’s simmering anger boils over into an act of workplace violence. The mass shooting by an ex-employee at an Indianapolis FedEx facility in April was only the latest in an...
Thirteen years ago, during the tail-end of the Great Recession, the self-storage industry was doing its best to weather the economic storm that distressed the financial markets as well as the banking and real estate industries. Though the asset class...
The amazing power and flexibility that information technology brings to the marketplace and to people’s lives come with some caveats. One of them is the risk and reality of cybercrime.
Every industry is subject to cybercrime’s potential harm, including...
There’s no doubt the opportunity for RV and boat storage facilities is tremendous today. The expanding demand for outdoor recreation, combined with the low development and operational costs, translate to a business with significant ROI for property...
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