• 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
  • A Fresh Look at Your Facility
    Spring is fast approaching, and now is the time to look at your facility with fresh eyes. Take time to walk around the property and plan those long-awaited maintenance, repair and upgrade projects. Curb Appeal In some parts of the country, winter brings harsh weather that ...More
    February 1, 2005 Pamela Alton Posted in Articles
  • What’s in ‘Store’?
    Now you think about your business affects your business, and your thought processes are reflected in the words you use. Maybe that’s why so many “side” businesses remain that way, while “start-up” businesses tend to grow. The self-storage industry has its own language that ...More
    February 1, 2005 Roy Katz Posted in Articles
  • Section-1031 Exchange
    Since the 1920s, savvy taxpayers have been growing their wealth on a tax-deferred basis by using Section 1031 like-kind exchanges. Originally used by cattle farmers to defer payment of capital-gains tax on the exchange of cattle, 1031 is currently used to defer ...More
    February 1, 2005 Thomas E. St. Jean and Nicholas Malagisi Posted in Articles, Finance
  • Construction Corner
    Construction Corner is a Q&A column committed to answering reader-submitted questions regarding construction and development. Inquiries may be sent to construction@ministorage.com . Q: The back drive at our facility is dark, and the camera posted there shows only a ...More
    February 1, 2005 Posted in Articles, Technology
  • Raised Rates Means Raising the Bar
    In December, the Federal Reserve raised interest rates for the fifth time since June 30, when the Open Market Committee began a trend that would increase the federal funds rate—the interest rate at which banks needing overnight loans borrow surplus reserves from other ...More
    February 1, 2005 Teri L. Lanza Posted in Articles, Development