Tax Issues | Inside Self-Storage

U.K. Self-Storage Operator Safestore Announces 2012 Loss, Conversion to REIT Status, CFO Change

Jan 31, 2013

The impact of the United Kingdoms value-added tax (VAT) on self-storage facilities was illustrated this week by operator Safestore Holdings PLC, which announced a pre-tax loss of £19.5million ($30.9 million) for the 2012 fiscal year ended Oct. 31...

One-on-One With Ben Vestal: Self-Storage Real Estate Expert Talks Taxes, Acquisitions and REITs

Jan 22, 2013

Inside Self-Storage (ISS) recently spoke with Ben Vestal, president and partner of the Argus Self Storage Sales Network, to discuss the self-storage real estate market. A nationally recognized expert in the field, Vestal talks here about the...

Capital Gains Tax in 2013: How the New Laws Affect Self-Storage Property Owners

Jan 16, 2013

With the capital-gains tax now in place, the value of tax deferral-mechanisms such as 1031 exchanges and cost segregation have never been greater. Its time for self-storage operators to learn the new rules of the game and start developing their...

Self-Storage Tax Woes: How Are 2013 Changes Affecting Your Paycheck, Your Investment and Your Customers?

Jan 14, 2013

Recent changes tax laws are affecting self-storage professionals of all levels, from the facility manager whose paycheck is diminished by the increase in Social Security tax to the owner/investor whose investment profitability is affected by a...

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

Oct 30, 2012

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...

U.K. Self-Storage Facility Opens With Promotion to Beat the VAT

Oct 23, 2012

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 Kingdoms...

Value-Added Tax Imposed on U.K. Self-Storage Industry Could Generate $56M by 2015

Oct 12, 2012

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 governments revised budget plan. The new law affects self-storage businesses that previously opted not to...

Self-Storage Operators Get Tax Savings on Kiosk and ILock System Through Dec. 31

Aug 23, 2012

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...

Using Cost Segregation to Improve Self-Storage Cash Flow

Aug 23, 2012

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.

Taxes that Affect Your Self-Storage Business: Is Your Expense a Repair or an Improvement?

Aug 15, 2012

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 improvementsand pay a price no general contractors estimate will ever...