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...

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...

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

Feb 20, 2019

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New Hampshire Legislature Considers Updated Self-Storage Lien Law

Feb 20, 2019

The New Hampshire Self Storage Association (NHSSA) and the national Self Storage Association have written an update to the state’s self-storage lien law that would enable facility operators to send sale notifications via e-mail, conduct lien sales...

Rogersville, TN, Bans New Self-Storage Development Along Main Street

Feb 11, 2019

In its intent to preserve the city’s historic ambiance, the Rogersville, Tenn., City Council unanimously voted this week to move forward with an ordinance that would ban indoor self-storage developments along a majority of Main Street. The order...

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