Risk Management

From criminal activity to onsite injuries to natural disasters, self-storage operators must predict and and mitigate all manner of business threats. Important aspects to managing risk include understanding legal issues, practicing theft prevention, investing in insurance coverage, and keeping pace with laws that affect the industry.

Highlights

Self-Storage Talk Featured Thread: Death of a Tenant

Mar 19, 2019

It can be confusing and upsetting when you discover one of your self-storage tenants has died. Often, friends or family members will...

Irving, TX, Self-Storage Owner Discovers Medical Waste in Units

Mar 12, 2019

A self-storage owner is furious after discovering he’ll have to foot the bill to remove medical waste from five...

Worker Dies in Elevator Accident During Milwaukee Self-Storage Conversion

Mar 07, 2019

A forklift operator plunged 80 feet down an elevator shaft to his death on Monday while working on the...

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Moratorium on Self-Storage Development Imposed in Coon Rapids, MN

Mar 06, 2019

Update 3/6/19 – The Coon Rapids City Council unanimously approved a six-month moratorium on self-storage development. The ban also applies to the expansion of existing facilities. It’ll run until Sept. 9 unless the council opts to lift or extend...

Industry Executive Launches ‘Best Self Storage Insurance’ Agency

Mar 01, 2019

Insurance industry executive Mario Macaluso has launched Best Self Storage Insurance LLC (BSSI), an independent agency offering integrated insurance solutions to the storage industry. Programs include business policies such as general liability...

4 Legal Nightmares Being Faced by Self-Storage Operators in 2019

Mar 01, 2019

There are many risks involved with operating a self-storage facility. Here are four legal “nightmares” you could face this year and how to prevent them from keeping you up at night.

Self-Storage REIT Public Storage Battles $100M Class-Action Lawsuit in California

Feb 27, 2019

Update 2/27/19 – Superior Court Judge Carolyn Kuhl issued a tentative decision on Feb. 21 siding with Public Storage in the tenant-insurance class-action suit filed against the REIT. Kuhl supported the company’s argument that the plaintiffs failed...

Employee Injured During Armed Robbery at Shreveport, LA, Self-Storage Facility

Feb 25, 2019

A female employee at a self-storage facility in Shreveport, La., suffered head injuries during an armed robbery last week. The...