Self Storage Data Services Inc., a Los Angeles-based provider of self-storage operating-performance statistics, released its rental-activity report for May 2010. Based on the rental activity of approximately 900,000 self-storage units in 1,500 facilities nationwide, SSDS reported that demand for self-storage showed some signs of weakening year over year. The industry suffered a 2.2 percent decline in the number of new tenants moving into storage, which was partially offset by a 2.7 percent increase in physical occupancy.
SSDS also analyzed the percent change in gross potential income (GPI) of the same 1,500 facilities. GPI reflects changes in asking rental rates on all units within each facility. In May, gross income was up 7.1 percent over the same month last year.
The complete Self Storage Performance Quarterly report, which reveals rental-activity patterns in various regions of the country, is available only to subscribers and can be downloaded at SSdata.net.