Change My Mind

If You Have less than 100 units, you have a hobby, not a facility

What is a storage facility? This is always a tricky definition when trying to count stores. I’d say you’re still in the industry with 100 units,
maybe just getting your feet wet, but anything less than 200 units (maybe 250?) and you don’t have a commercial-grade storage facility.
Change my mind.

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cli·mate /’klīmət/ adj. The weather conditions prevailing in an area over a long period. “Our cold, wet climate”

You can control the temperature, you can control the humidity, but you can't control the weather. Weird we chose that adjective.

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50+% Rent Increases Are Not good For Our Reputation.

Just because the data says you can, doesn't mean you should. I know why we are doing it, but there has to be a better way. Otherwise we end up with a permanent reputation like used car salesmen or telemarketers. We aren't selling snake oil, why act like it?

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As a group, we are way too cheap.

I see self storage operators trip over dollars to pick up dimes all the time. I've done it too. Just because something may seem expensive up front, the long-term benefits may often outweigh the initial investment. It's easy to NOT spend money, but it's not always wise. Change my mind!

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Santa Claus Is A Self-Storage Operator.

He has to be. Where else are you going to keep 8 billion presents before Christmas?
There's definitely a facility at the North Pole. Change my mind!

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Green Is The New Orange.

It's not just the facility count, but it helps. Cutting-edge, albeit controversial, revenue management practices, adoption of smart technology... Extra Space is the new leader in our industry. #wwexrd?

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Gross Potential Rent is a Myth.

Lenders ask me all the time about what the gross potential rent of a facility is. I ask them what they want it to be. GPR is a relic carried over from the multifamily world into self storage. Self-storage leases are more fluid than multifamily, so GPR doesn't really mean much, just a picture in time. Change my mind.

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Phoenix Is The Capital of Self-Storage.

I’m from Arizona, so you could say I’m biased, but in my experience, Phoenix has a dense population of industry vendors, leaders, publications, and operators. More so than anywhere else in the country. This makes Phoenix the capital of self-storage. Change my mind.