Preparing for Audit or Inspection
It's the time of year when your owner or supervisor is expected to conduct his annual audit and inspection of your facility. Audits and inspections are a normal and necessary part of operating any business. Facility managers often are intimidated by these procedures; but ...More
January 1, 2002 Pamela Alton
Posted in Articles
Conduit Lending
In today's self-storage financing market, most of the long-term, fixed-rate financing (10 years or longer) is provided by the Wall Street "conduit" market. These loans are pooled together, packaged and sold to investors by Wall Street firms as commercial mortgage-backed ...More
January 1, 2002 David Smyle
Posted in Articles,
Finance
Market a Complete Solution
It's not hard to get a self-storage operator to agree he must distinguish his product if he is to avoid debilitating price competition. That leads to a conversation about his exclusive offerings. Location generally leads the list--and it's worthy, given tenants' general ...More
January 1, 2002 Harley Rolfe
Posted in Articles
The Midwest
In this installment of the Real Estate Roundup, we'll take a look at the investment climate of the American Midwest. Commenting on this region are Bruce Bahrmasel, The Preferred Realty Group, Chicago; Arnold Erickson, Commercial Realty Services, Des Moines, Iowa; Larry ...More
January 1, 2002 Michael L. McCune
Posted in Articles
Looking at the Market
Selling records management, storage and services requires an effective sales strategy. The annuity aspect of this business can make this one of your best investments. This article discusses why the return on investment is significant, even for small accounts. Investors have ...More
January 1, 2002 Cary McGovern
Posted in Articles
Insurance Corner
In today's litigious society, recognizing and reducing liability exposures should be a prime concern for every self-storage owner. Courts are getting tough on business owners who allow hazardous conditions to exist, and the dollar amounts juries award to injured parties ...More
January 1, 2002 David Wilhite
Posted in Articles
Implementing a Coupon System
I've written in past columns about the importance of each self-storage facility having a unique selling point, or USP--something it offers that customers can't get anywhere else. Having a USP allows you to differentiate your facility from others and compete on some basis ...More
January 1, 2002 Fred Gleeck
Posted in Articles
Home Is Where the Heart Is
Working as a manager in this industry, it is not uncommon for you to have on-site housing at the facility you manage. But adapting this home--which can come in all shapes and sizes--to your lifestyle can sometimes be quite a challenge. I am sure some of you can relate to ...More
January 1, 2002 Donna L. Potter
Posted in Articles
The Face of Change
One of the inherent beauties of self-storage is its intrinsic simplicity. I have often advocated blending new technology with good real estate to make the best possible, or "best in class," self-storage project, but it isn't always easy to balance the two. The physical part ...More
January 1, 2002 RK Kliebenstein
Posted in Articles,
Technology
