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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.

Suspected Drunk Driver Crashes Into Coconut Creek, FL, Self-Storage Facility

May 05, 2023

An allegedly intoxicated driver crashed his vehicle into a building at a CubeSmart self-storage facility in Coconut Creek, Florida, on April 22. The incident at 4731 Sample Road happened just before 8 p.m., according to the source...

Man Arrested Following 6-Hour Standoff at Hilo, HI, Self-Storage Facility

May 05, 2023

Police arrested a man on Tuesday after a six-hour standoff at StorQuest Self Storage in Hilo, Hawaii. A second suspect who was found at the facility in a stolen vehicle was also taken into custody, according to sources...

Kokomo, IN, Adopts Stricter Building Standards for Self-Storage Facilities, Gas Stations

Apr 28, 2023

Update 4/28/23 – The Kokomo City Council voted 7-2 on Monday to proceed with tighter building restrictions on self-storage facilities and gas stations, including permitted zoning districts and design standards. Existing businesses will be...

Self-Storage Insurance Firm Universal Announces Change in Leadership

Apr 26, 2023

Universal Insurance Programs, a provider of specialty insurance for self-storage and other industries, has announced a change in leadership to be effective May 1. Jenny Bortman will serve as the new CEO and president, while her mother, Randy...

Indiana Shortens Timeline for Self-Storage Lien Proceedings

Apr 26, 2023

Indiana Gov. Eric Holcomb signed House Bill 1621 (HB 1621) on April 20, which shortens the amount of time self-storage operators must wait before initiating the lien-sale process against a delinquent tenant. Beginning July 1, they’ll be able to...

Kansas Updates Self-Storage Lien Law to Allow Towing of Vehicles, Watercraft

Apr 26, 2023

Kansas Gov. Laura Kelly signed House Bill 2042 (HB 2042) on April 18, which will allow self-storage operators in the state to have stored vehicles and watercraft towed if tenants are in default for more than 60 days. The measure was supported by...

3 Men Face Felony Charges After Fleeing the Scene of a Shawnee, KS, Self-Storage Theft

Apr 25, 2023

Three men are facing felony charges after fleeing the scene of a Shawnee, Kansas, self-storage burglary last week. Police were called to iStorage just after 3 a.m. on Friday in response to a reported theft of vehicle parts in progress, according...

Cape Coral, FL, Issues Moratorium on Self-Storage Development

Apr 25, 2023

Update 4/25/23 – The Cape Coral City Council has imposed a moratorium on accepting applications or issuing permits for new self-storage developments until at least January 2024. City officials will use that time to determine where in the city they...

The Business-Insurance Coverages You Need to Save Your Self-Storage Operation From Disaster

Apr 22, 2023

Business insurance can be a large expense, but it’s also a lifeline for your self-storage operation in the event of a devastating loss. Here’s an overview of key coverages to consider as well as ways to affordably manage your risk.

Arrest Made in Case of 2 Bodies Found in Brighton, MA, Self-Storage Unit

Apr 18, 2023

Police have arrested a man in connection with two bodies that were found inside a Brighton, Massachusetts, self-storage unit on Friday, April 14. The defendant rented the space at iStorage under one of the victim’s names, according to sources...