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.
The Skinny on Compliance
Until recently, compliance for acceptance of Visa and MasterCard was at best voluntary and at worst ignored. This is no longer the case; failure to comply with the regulations set by the Payment Card Industry (PCI) Security Standard can lead to termination of card ...More
AFC Realty Capital Forms Finance Group
AFC Realty Capital formed the AFC Self-Storage Finance Group to serve client demand. ...More
Did you know you can sign up for a free weekly e-mail newsletter from Inside Self-Storage? It’s available in HTML or plain-text formats. Every week your e-newsletter will include an operational tip from an experienced self-storage professional; a feature article on business ...More
If you have a sale, grand opening, groundbreaking or other real estate transaction you would like listed here, e-mail email@example.com. Larry Goldman, a broker affiliate with Argus Self Storage Sales Network, represented the seller of Liberty Storage in Grove, Okla., ...More
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
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
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
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