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.

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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 defaulted units at his two facilities in Irving, Texas. Ron Hines, owner of Dependable Mini-Storage and Sixth Street Mini-Storage, cut...

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 conversion of a historic Milwaukee warehouse to self-storage. Anthony D. Azarian, 32, had extended the forklift bucket to knock away bricks when...

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 incident happened just before 1:30 p.m. on Feb. 18 at Scotty’s Kingston Storage, 8968 Kingston Road. Following the...

Self-Storage Operators in Miami-Dade County, FL, Could Face New Painting, Window Requirements

Feb 22, 2019

Update 2/22/19 – Miami-Dade County officials have postponed a hearing on possible changes to self-storage painting and window schemes. Commissioner Jean Monestime, the primary sponsor of the measure, agreed to a voluntary deferral “following...

West Virginia Legislature Considers Update to Self-Storage Lien Law

Feb 21, 2019

The West Virginia Legislature is considering an update to the state’s self-storage lien law that would enable facility operators to send default notifications via e-mail or text, advertise auctions by e-mail or a website, and conduct lien sales...

ISS News Desk: Self-Storage REIT Public Storage Faces Class-Action Lawsuit

Feb 20, 2019

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