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ISS Blog

Here’s to You! Cheers to a Year of Self-Storage Success

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It’s been another challenging year. Even so, self-storage professionals have much to celebrate. Consider the following successes they’ve achieved.

We measure success in many ways. It might be money in the bank, professional or academic accomplishments, philanthropic endeavors, or a number of other variables including our own happiness. While we all have a different barometer—and they definitely evolve—I think we’d all agree that self-storage, as an industry, had a successful year.

Although we’re still enduring a long-term pandemic (and a new variant, sigh), the industry as a whole has much to celebrate. Operations, investing and development all remain strong. Plus, the industry has continued to make huge strides in the adoption of new and improved technology. Overall, self-storge continues to perform well despite the challenges thrown at it by COVID-19.

Consider occupancy levels. For many facilities, these numbers have been strong all year. One reason is the continued implementation and acceptance of contactless rentals. As we continue to move toward more self-serve transactions as a society, operators who offer this solution are discovering just how much this technology can truly benefit the business and their customers.

In addition, rental increases were reinstated after being put on hold last year due to the pandemic. So, properties are full and generating bigger revenue. There have been several threads on Self-Storage Talk, the industry’s largest online forum, about reaching full capacity, keeping wait lists and introducing rate increases.

Also, development was back on track this year and ISS has reported on hundreds of new projects worldwide. These come in a variety of forms, including ground-up builds and conversions. There are also many mixed-use projects underway. The pandemic has even created new demand for self-storage as more people work from home, companies consolidate and families downsize.

Moreover, the real estate and investment market is thriving as evidenced by a flurry of small and huge transactions in recent months. Many of these include large portfolios. Hear more about them in this ISS News Desk. Also, take a listen to this recent Sounds of Storage podcast that offers an update on the state of the self-storage investing market.

I’d be remiss if I didn’t also discuss our brand’s 2021 triumphs. One of the biggest, of course, was the return of the ISS World Expo to Las Vegas last summer. After the 2020 show was derailed by the pandemic, we pivoted quickly to offer a virtual conference that year and another this past spring. ISS also published many outstanding resources this year including whitepapers, galleries, podcasts, videos and more. You can find them in our Resource Center.

If you missed the 2021 ISS World Expo or would still like to purchase education recorded during the event, head over to the ISS Store to peruse your options. While you’re there, check out our latest offerings—the 2022 Maintenance Package and the newly released 2022 Guidebook Series.

As you begin to make plans for the new year, think about your achievements over the past 12 months. Take a moment to celebrate these successes, no matter their size.

The ISS team wishes you a safe and holiday season, and a successful 2022!

TAGS: ISS Brand
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