As the number of self-storage auctions continues to rise around the country, more managers are trying to avoid that end by making more courtesy phone calls to business tenants.
Hit hard by the economy, many business tenants have fallen behind on rent. The self-storage industry has seen fewer business tenants who can afford to rent a storage unit. These type of tenants often stored equipment, furniture and inventory.
Homeowners losing houses to foreclosure have been able to fill some of the void in Sonoma County, Calif.
Source: Santa Rosa Press Democrat, As Business Tenants Leave, Former Homeowners Fill the Void