• Money-Mind Control
    It seems everyone I know is refinancing their home these days. They want to get in on the goods before interest rates—as rumored—head north again. In self-storage, too, owners are being encouraged to take advantage of low rates before the train leaves the station. Now … ...More
    November 1, 2004 Teri L. Lanza Posted in Articles
  • The Rundown on Refinancing
    If you’re thinking about refinancing your existing self-storage loan, you should be asking these questions: When is the right time to refinance? I have a floating-rate loan. Should I switch to a fixed rate? Are there new loan products to consider? I have a prepayment ...More
    November 1, 2004 Bill Walton Posted in Articles, Finance
  • Compiling Your Loan Package
    There is a direct correlation between the reliability of the loan quote from your lender and the quality of the information you provided in your loan package. If you want a quote you can “take to the bank,” take the time and effort to give your source sufficient, accurate ...More
    November 1, 2004 Tom Walsh Posted in Articles, Finance
  • The Art of the Cap Rate
    Economics is sometimes called the “dismal science” because it can present bad news about money and the economy. In the economics of self-storage, the calculation of an overall capitalization rate, or “cap rate,” might be called an abysmal science because there is much ...More
    November 1, 2004 R. Christian Sonne Posted in Articles, Finance
  • Signs of the Times
    I recently visited two self-storage businesses that were similar yet very different. The owners were smart, hard-working and ambitious. The facilities were well-located, and their sizes and pricing equal. And they’d been in business the same length of time. But at one ...More
    November 1, 2004 Roy Katz Posted in Articles
  • Manpower for ‘RS Lite’
    It's easy to implement “records storage lite” along with small-business packages in self-storage without adding to your core employees. Nontraditional staffing is the key. What is this, and how does it add to service revenues without adding to overhead? There are four ways ...More
    November 1, 2004 Cary F. McGovern Posted in Articles
  • Money on the Buy
    Today’s competitive environment can be tough on those looking to buy self-storage properties. Many are eager to take advantage of low interest rates and the industry’s bright future, though in some areas, viable facilities are few and far between. Employing a combination of ...More
    November 1, 2004 Scott Duffy Posted in Articles
  • Viva la Opportunity!
    Self-storage operators aren’t the only ones searching for an untapped market in today’s competitive environment. Companies like Ford, Wells Fargo, IBM and Hewlett-Packard have begun wooing the country’s exploding Hispanic population. Could the Latino market be a potential ...More
    November 1, 2004 Kimberly Hundley Posted in Articles
  • Marketing Records Management
    Marketing Records ManagementEssential elements to a solid campaign By Steven J. Hyman Marketing is one of the most important aspects of a successful records-management business. As in any other industry, developing and implementing a sales program takes active effort. The ...More
    October 1, 2004 Steven J. Hyman Posted in Articles
  • Produce a Marketing Plan
    Produce a Marketing Plan By Pamela Alton It’s already time to think about your marketing plan for 2005. With new facilities being built almost daily, competition for tenants will surely play a major role in maintaining or increasing occupancy levels at some facilities. What ...More
    October 1, 2004 Pamela Alton Posted in Articles