• A Brand-New Look at Brands
    Because most self-storage operators sell retail merchandise, they have to consider which products to carry. One question they need to answer is whether branded goods make a difference. With all the private labels, generics, house brands, controlled labels, look-alikes, ...More
    March 1, 2005 Roy Katz Posted in Articles
  • Evictions: A Good Option
    Nearly all states have a self-storage statute that gives an operator the right to claim a lien against a delinquent tenant’s stored property. If he properly follows all the steps, he’ll eventually get the space back and sell the goods contained to help defray the ...More
    February 1, 2005 Jeffrey Greenberger Posted in Articles, Legal Issues
  • A Man in Space
    The very first Italian self-storage facility opened in 2000. Since then, a considerable number of stores have arrived on the scene, and public awareness of the service has increased accordingly. Back when the self-storage market was an undiscovered country of unknown ...More
    February 1, 2005 Sabrina Tordo Posted in Articles
  • Getting Ready for the Sale
    You’ve received dozens of unsolicited calls from so-called “buyers” and brokers who want to purchase or list your facility. You’ve also read many articles like this one, so you know interest rates and cap rates are low and values have never been higher. You’ve been thinking ...More
    February 1, 2005 Bill Alter Posted in Articles
  • Effective Coupon Ads
    Some storage operators use coupon ads to promote their facilities. A popular example is the Val-Pak mailer, but most communities have a coupon pack they mail out to local residents. These ads are a great idea—if used correctly. In most cases, there are two problems: ...More
    February 1, 2005 Fred Gleeck Posted in Articles
  • Heart and Home
    R. CHRISTIAN SONNE sure hoped the famed Kinsella line “If you build it, they will come” was true, because if they didn’t come, not much would be built. Last fall, Sonne committed his business, Self Storage Economics (SSE), to lead an ambitious charitable project in Mexico. ...More
    February 1, 2005 Posted in Articles
  • Due Diligence Protects Buyers
    Due diligence is the process of discovery and confirmation of the financial and physical attributes of an investment property. In all too many cases, this important process is rushed or, worse yet, skipped entirely in the excitement of buying a selfstorage facility. But ...More
    February 1, 2005 John H. Gilliland Posted in Articles, Development
  • Cap Rates & Property Valuations
    What’s a self-storage facility worth? In terms of establishing a quick, initial value, most buyers and sellers agree the use of a direct capitalization method, or cap rate, is effective when used to compare similar properties in comparable markets. A cap rate is a basic ...More
    February 1, 2005 Rob Schick Posted in Articles, Finance
  • The State of Self-Storage Real Estate
    In this industry, we tend to forget we are actually part of two businesses: self-storage and real estate. When self-storage was relatively new, supplies were limited and customers were just learning to use it. Demand was seemingly infinite, and almost no projects failed. ...More
    February 1, 2005 Michael L. McCune Posted in Articles
    I recently signed a management contract on a facility in central California that was a Small Business Administration (SBA) foreclosure. The site had obviously been mismanaged or the SBA would not have taken it back. There was no on-site manager, just a person brought in by ...More
    February 1, 2005 Pamela Alton Posted in Articles, Development