• Sell Your Worst Feature First
    An effective rule of selling is: Sell your worst feature first. If there is something about your facility you feel could negatively affect a rental, bring it the forefront early in the sales process. And don’t just reveal it to the customer—sell it to him. A mere mention ...More
    February 1, 2005 Tron Jordheim Posted in Articles
  • Nuts and Bolts of Marketing, Part II
    We've come quite a way since our first article in January. It's now pay-off time! Set the rates. Then, multiply by the number of units and feel good about being in business. We've all done it, but there's more. Our discussion will show that pricing is more than what it ...More
    February 1, 2005 Harley Rolfe Posted in Articles
  • Value PLACE
    Storm Nolan’s story probably sounds much like your own. His company, Whitt Properties of Fort Smith, Ark., owns self-storage facilities. He likes the business. He’s pleased with the profit margins. He’s not so pleased, however, when it comes to finding markets for new ...More
    February 1, 2005 Posted in Articles
  • Next Gen
    We have all heard people refer to self-storage facilities as being first, second, third or even fourth generation. I’d like to talk about what might be the next generation of self-storage: small facilities with no on-site management. We normally see these types of sites in ...More
    February 1, 2005 Charles Ray Wilson Posted in Articles, Development
  • Selling Portfolios & Single Assets
    We remain in a seller’s market for self-storage properties, with capitalization rates ranging from the high sixes to the low sevens for high-quality portfolios and single assets. With pricing this aggressive, why are so many new players entering the industry? Capital flow ...More
    February 1, 2005 Marc A. Boorstein Posted in Articles, Finance
  • Insurance Risks and Real Estate
    You’ve decided to purchase a self-storage facility and you need to buy insurance. Many buyers want to know how much to put in their pro formas for this coverage. While there is no black-and-white answer, there are factors that contribute to the insurance premium. Knowing ...More
    February 1, 2005 Amy Brown Posted in Articles
  • Executive Self Storage Associates
    Like a grizzled cowboy unimpressed with greenhorn notions, Executive Self Storage Associates (ESSA) has blazed a trail in management and consulting services, driven by plain old common sense and know-how. President Joe Niemczyk came to the industry 22 years ago with a fresh ...More
    February 1, 2005 Kimberly Hundley Posted in Articles
  • Flexible Rate Management
    The Ten Commandments were chiseled into stone tablets, but your rental rates should not be. Many well-intentioned owners and managers are leaving a great deal of revenue on the table as a result of rental rates that appear to be “chiseled in stone.” This causes distress to ...More
    February 1, 2005 Bob Copper and RK Kliebenstein Posted in Articles
  • Buying Basics
    Self-storage is a great business in today’s volatile real estate market. The fact is, it carries the highest cap rate when compared to other real estate investments: single-family units, multifamily (apartments), retail, triple-net leases, industrial and office. While this ...More
    February 1, 2005 Carl E. Touhey Posted in Articles
  • Development Potential in Self-Storage
    There are those in the self-storage business who claim the market is getting “overbuilt.” While there are geographic pockets in which this appears to be true, we may actually be seeing some upward movement in national storage development. Ours is a real estate business, and ...More
    February 1, 2005 David Blum Posted in Articles, Development