With changes in the general economy have come changes in the self-storage finance world. Self-storage lenders, like those for all commercial real estate, apply more stringent underwriting standards when evaluating the potential of a construction, permanent or other self-storage loans. Even the refinancing process has become more challenging for self-storage owners, who must weigh their options and exit strategies. Some negotiate with lenders in an attempt to salvage underperforming self-storage properties. Tax issues are also a significant concern for self-storage owners. Cost segregation and 1031 exchange are possibilities to be explored. Financial and operating performance is reported quarterly by the self-storage real estate investment trusts (REITs): Public Storage Inc., U-Store-It Trust, Sovran Self Storage and Extra Space Storage.
You’re Being Robbed!
Every moment a U.S. merchant is robbed via electronic payment systems—totaling $3 billion per week. What’s a merchant to do? First, we must define and understand the problem. Three types of fraud afflict merchants using electronic payment systems: 1. Internal fraud, or ...More
Do You Process Credit Cards the Old-Fashioned Way?
Processing credit card transactions through a conventional retail merchant account could be costing your storage business in unnecessary fees and putting your business and customers’ security at risk. Many credit card transactions in the storage industry are not ...More
Records Management: 12 Steps to a Business Model
The first step in starting a business is developing the plan, the cornerstone of which is the business model. Just as self-storage ranges from mom-and-pop operations to multimillion-dollar chains, records storage centers vary in type and style. Your business model needs to ...More
To the Rescue
Accepting timely payments is a must for your business to survive; however, in this ever-changing world where everyone is on the move, conventional methods limit a business' ability to collect on a timely basis. Businesses are forced to create solutions to meet customer ...More
Guard Against Employee Theft
Most business owners are vulnerable to ongoing employee theft. One of the most widely used methods is through a credit card system. As your employees get rich, you become subject to fines, penalties, and the loss of revenue and credit card-acceptance privileges. Over the ...More
ISS Launches Self-Storage Training Institute
Inside Self-Storage, which has served the industry for more than 15 years via its monthly magazine and bi-annual expos, officially launched its new Self-Storage Training Institute (SSTI). ...More
Buchanan Storage Capital Opens D.C. Office
Buchanan Storage Capital (BSC) expanded its national platform with the opening of its new Washington, D.C., office. ...More
Real Estate Roundup: The Southeast States
This month, I gathered a roundtable of experts to discuss how the storage industry is faring in the Southeast. Let’s hear what they have to say about their respective cities and regions. Our roundtable panel includes: Bill Barnhill and Stuart LaGroue, Omega Properties Inc., ...More
Building a self-storage company in Europe isn’t the easiest way to make a living, though a well-executed and professional project can certainly be rewarding. Like any other emerging and still immature market, self-storage faces a variety of problems in most European ...More
Beacon and SIA Align to Serve Clients
Beacon Realty Capital and Storage Investment Advisors LLP (SIA) have formed a strategic alliance to serve self-storage owners with their real estate needs. ...More