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  • Recovering From Facility Fire
    Metal buildings and concrete pads are key ingredients of many self-storage facilities. Some owners believe their facility could not, and will not, sustain a loss from fire because metal doesn’t burn and the concrete pad can’t be damaged. While we wish this were true, it’s ...More
    March 1, 2008 Randy Tipton Posted in Articles
  • Warding Off a Wrongful Sale
    It’s been some time since the self-storage industry has seen a large judgment against a facility owner. But the recent appellate decision in the case of Barshak v. American Equity Insurance Co. has jolted the industry to recognize the risks of a wrongful foreclosure sale of ...More
    March 1, 2008 Scott Zucker Posted in Articles, Legal Issues
  • Art of Marketing: How to Start a Feeding Frenzy for Self-Storage
    Gary Halbert, the guru of marketing and copywriting, taught me many lessons over the years. In this article, I’m going to teach you the most profitable one, and show how it increases profit and occupancy immediately. It only works if you follow the steps. Imagine for a ...More
    March 1, 2008 Derek M. Naylor Posted in Articles, Marketing
  • Professional Liability Insurance
    Insurance professionals are often asked about professional-liability insurance by self-storage operators. The purpose of this coverage is simple: to keep you out of trouble and in business. In more technical terms: In your position as a storage operator or manager, you may ...More
    March 1, 2008 Mike Gong Posted in Articles
  • The Importance of a Crystal-Clear Lease
    The storage industry, particularly in densely populated areas, often uses hybrid rental agreements that give rise to legal issues and can be very costly to an owner. Ambiguous lease clauses can provide a predicate for a tenant’s overcharge claims, or defenses against an ...More
    March 1, 2008 Melvyn B. Ruskin and Eric C. Rubenstein Posted in Articles, Legal Issues
  • Coverage for Limited Pollution Removal
    In the business of self-storage, operators are like landlords who rent storage units instead of living space. What a tenant puts into his unit is not the operator’s concern—unless those contents violate certain contractual limitations and conditions. Self-storage owners are ...More
    March 1, 2008 Michael Rice Posted in Articles
  • Preventing Discrimination Suits
    There are many circumstances under which a self-storage operator can choose not to rent a unit to an individual. Of course, the exposure to the operator could be enormous if the necessary safeguards aren’t instituted prior to the “refusal.” Your rental procedures and ...More
    March 1, 2008 Kenneth M. Piken Posted in Articles, Legal Issues
  • Manager's Memo: Service Starts at the Signature
    As managers, we’re always focused on drawing customers to our business to rent units. We obsess about marketing strategies to lure potential customers to pick up the phone and call; we practice our phone skills to sound personable and trustworthy; and we go to great lengths ...More
    March 1, 2008 Mel Holsinger Posted in Articles
  • Extra Space Storage to Present at Citi 2008 Global Property CEO Conference
    Kenneth M. Woolley, chairman and CEO of Extra Space Storage Inc., will participate in a roundtable presentation at the Citi 2008 Global Property CEO Conference in Palm Beach, Fla., March 5. ...More
    February 29, 2008 Posted in News
  • The Big Storage Wiki
    So a gentleman by the name of Marc Goodin recently e-mailed our news center to let us know he had launched a new website to serve as a resource to self-storage owners: www.thebigwiki.com/self_storage_profits. "The big wiki?" I thought. What the heck is that? Turns out it's ...More
    February 28, 2008 Teri Lanza Posted in Blogs