Pacing Price Increases
Raising rents to increase self-storage income is a common business practice. Yes, we can keep a close eye on operating expenses and look for deals on supplies and services, but that alone won’t be enough to improve net income. To keep pace with cost increases, we have to ...More
July 10, 2006 Mel Holsinger
Posted in Articles
Overbuilding
Overbuilding in self-storage doesn’t always get the attention it deserves. Owners need to focus on why it occurs, the repercussions, and how to avoid overbuilding in local markets. Overbuilding is a market condition in which self-storage supply exceeds demand at any given ...More
July 10, 2006 Michael L. McCune
Posted in Articles,
Development
Real Estate Roundup: The Northeast
This month, I gathered real estate experts to discuss the state of self-storage in the Northeast. Let’s hear what they have to say about their respective cities and regions. Our panel includes: Linda Cinelli, LC Realty, North Branch, N.J.; John Lisowski, Grubb & Ellis, ...More
March 1, 2006 Michael L. McCune
Posted in Articles,
Finance
The Hurricane Chronicles
During the furious hurricane season of 2005, storage facilities across Florida, Louisiana, Mississippi and Texas sustained serious damage. Few were prepared for the level of destruction, though some had learned from past storms and were better able to handle the turmoil. ...More
March 1, 2006 Kathleen Hardesty
Posted in Articles
Self-Storage Jargon
Whether you already own a self-storage project or plan to make your first venture, knowing some key terminology is important to your success. You probably won’t find these definitions in a dictionary, yet they can be critical to effective communication and decision-making. ...More
February 1, 2006 Mark Keys
Posted in Articles
The Value of Rent Increases
Self-storage managers and management teams generally hate rent increases. This is for several reasons: 1) They don’t have a plan to handle the increase; 2) They don’t want to deal with the unpleasantness of displeased customers; and 3) they don’t believe they benefit. But ...More
November 1, 2005 Greg Call
Posted in Articles
The Seven P’s of Boat/RV Marketing
Boat and RV storage may seem a lot like self-storage, but when it comes to maximizing profit, it has unique requirements. To successfully market an RV/boat-storage facility, keep these seven key things in mind: pricing, partnering, profitability, personnel, performance, ...More
October 1, 2005 Fred Gleek
Posted in Articles
The Burning Question
To build or not to build is the biggest question facing today’s self-storage developer. When considering a plan, he has to examine a number of critical issues to ensure a viable and profitable project. Some considerations are whether the area can support more storage, how ...More
September 1, 2005 Jamie Lindau
Posted in Articles,
Development
While You Were Napping
You didn’t have to raise rents, lower expenses or even increase your occupancy—yet you made a lot of money over the last three years or so. In fact, it may have been so easy you didn’t know it happened. While you were busy tending to other things, the real estate market ...More
July 1, 2005 Michael L. Mccune
Posted in Articles
