Inside Self-Storage

Tax Issues

Tips to Help Self-Storage Owners Increase Income, Reduce Expenses and Raise Facility Value

Even though the self-storage industry has changed greatly over the past decade, it can still be simple to increase your bottom line. Here are some tips to help facility owners increase their income, reduce expenses and improve their facility value. With a little attention ...More
October 30, 2012
Posted in Articles, Management
U.K. Self-Storage Facility Opens With Promotion to ‘Beat the VAT’

Stock N Lock Self Storage Centre, a new £2.5 million ($4 million) self-storage facility in Worcester, England, is offering move-in pricing specials designed to help customers save money on rent and temporarily avoid paying the United Kingdom’s newly implemented self-storage ...More
October 23, 2012
Posted in News, Management, Marketing
Value-Added Tax Imposed on U.K. Self-Storage Industry Could Generate $56M by 2015

As of Oct. 1, self-storage operators in the United Kingdom must charge rental customers a 20 percent value-added tax (VAT) as part of the government’s revised budget plan. The new law affects self-storage businesses that previously opted not to charge the VAT and applies to ...More
October 12, 2012
Posted in News
Self-Storage Operators Get Tax Savings on Kiosk and ILock System Through Dec. 31

Self-storage operators who wish to employ a self-service kiosk by OpenTech Alliance Inc. and the new ILock door-locking system by PTI Security Systems Inc. can enjoy an additional tax deduction under the IRS Tax Code Section 179, but only if the system is in operation by ...More
August 23, 2012
Posted in News, Finance, Technology
Using Cost Segregation to Improve Self-Storage Cash Flow

Whether you acquired your self-storage facility after 1986, are planning to buy a facility, or are embarking on a building or replacement program, cost segregation should be part of your strategy to maximize cash flow. ...More
August 23, 2012
Posted in Articles, Finance, Real Estate
Taxes that Affect Your Self-Storage Business: Is Your Expense a Repair or an Improvement?

Self-storage operators know curb appeal is essential to attracting new customers and retaining existing ones. Unfortunately, many overlook the tax impact of facility repairs and improvements—and pay a price no general contractor’s estimate will ever include. Operators can ...More
August 15, 2012
Posted in Articles, Construction, Finance
U.K. Self-Storage Operator Big Yellow Considers Legal Action Against Proposed Sales Tax

U.K. self-storage operator Big Yellow Group PLC has explored taking legal action against a proposed sales tax that would be imposed this fall on self-storage customers. Any appeal against the tax, however, would not take place until after Oct. 1, when the value-added tax ...More
July 10, 2012
Posted in News
Proposed Rhode Island Budget Excludes Self-Storage from Sales Tax

Self-storage operators in Rhode Island are breathing a sigh of relief this month after the 2013 state budget approved May 31 by the House Finance Committee excluded self-storage from a group of services originally proposed for an expansion of the state’s sales-tax base. ...More
June 6, 2012
Posted in News, Legal Issues
And You Think Filing This Year’s Taxes Was Hard: Self-Storage Operators Face New Challenges in 2013

Just a word of caution about what could happen on Jan. 1, 2013. Unless our dysfunctional Congress gets its act together, average American families are headed toward a sweeping tax increase estimated at $3,800 next year. This could have serious consequences for the ...More
May 30, 2012
Posted in Blog, Management
Self-Storage Associations Fight Proposed Industry Sales Tax in California

The California Self Storage Association (CSSA), with support from the national Self Storage Association (SSA), has hired a lobbying firm to fight a proposed sales tax on self-storage services in California. The associations argue that self-storage is a rental of real ...More
April 5, 2012
Posted in News

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