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The Last Word

Rental Rate Pressures During COVID-19

Unfortunately, as we sit here today, the COVID-19 pandemic is far from over. As a result, issues that many self-storage operators had thought were resolved, including concerns over restrictions on their rental rate increases, remain. As self-storage operators have now well learned, the rights that apply to what prices can...

The Resiliency Of The Self-Storage Industry

Over the last year, through a massive public health crisis and a distressed economy, the self-storage industry has once again shown its resolute strength within the real estate sector. Notwithstanding the pandemic and the resulting business closures and unemployment, many would say the self-storage industry not only survived, but thrived, supporting...

Running 100 Miles Is A Lot Like Starting A Business

By Rod Bolls, founder and CEO of Boxwell, LLC There are some things that are commonly considered off limits, if not crazy. Things like running 100 miles or starting a business, for example, are not for everyone. Ultramarathoners and entrepreneurs possess an extraordinary amount of optimism, courage, and flexibility, which...

Recognizing The Warning Signs Of Oversupplied Markets

By Monty Spencer, CEO, The Storage Acquisition Group A developer builds a new storage facility in a hot market, but it takes longer than expected to lease-up, causing rental prices to be lowered and the property value to drop. What happened? Typically, the challenge is due to a lack of...

Streamlining Development

Virtual Cost Savings, Productivity, And Projections   By David Meinecke, Vice President of Jordan Architects As we continue to navigate through this tumultuous time, we continue to see the ripple effect of the COVID-19 pandemic. Despite varying levels of concern throughout the nation, there is no doubt that this will...

Persevering In A Pandemic

By Michael Baillargeon, Senior Vice President, Operations, Store Space By now, all of us in the self-storage industry have been practicing due diligence against COVID-19 for months. We’ve put down strict sanitizing protocols and implemented social distancing at our properties. We’ve rethought the approach to our business and even honed...

Re-opening Your Business During COVID-19

By J. Ashley Oblinger, Esq., Associate Attorney, Weissmann Zucker Euster Morochnik & Garber P.C. Since mid-March, self-storage facilities across the country have been forced to temporarily close their doors or limit their operations due to state COVID-19 shelter-in place orders. States are now beginning to lift those shelter-in-place orders in...

Upholding The Golden Rule

By Donald Jones, president of Donald Jones Consulting & Services LLC “Do unto others …” or “Treat others like …” are the great beginning phrases of principles of days past.  Within the storage industry specifically, managers are accountable to owners, and owners are accountable to investors. Does your organizational chart...

In the Limelight

By Tim Hobin, Executive Vice President – Real Estate, The William Warren Group, Inc. As I write this, we’re finalizing the books on another stellar year in the longest economic expansion of all time, and I must admit, it has been a good run. As an industry, we have a...

Enjoy The Ride!

By John H. Gilliland, president and CEO of Investment Real Estate, LLC Remember where we were 10 years ago? In mid-2010, the country was in the worst recession since the Great Depression of the 1930s. Self-storage developers and owners were reeling. I personally had six facilities that were less than...

Technology And The Manager

By Andy Kelly, Principal and Broker of A B Kelly Realty, LLC (Self Storage and Commercial Property Management) and Principal of Sierra Self Storage Consulting, LLC I started in the storage business in 1992 as an area manager. The industry had very little, if any, technology compared to today. The...
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