Sierra Self Storage Adds Three Buildings to Existing Facility in California

Apr 14, 2010

Sierra Self Storage in Porterville, Calif., is adding three buildings to its existing facility.

The self-storage facility is one of a handful of commercial projects moving forward in the city. Only one commercial construction permit has been issued since January.

Sierra Self Storage will add the new buildings over the next few months, with all expected to be open by August. The additions will include wider and taller unit doors.

The facility currently offers RV and boat storage, but soon will relocate these units to a 3-acre parcel which abuts the storage facility. The area will be paved and outfitted with lights and security. The facility has been open just over two years.

Source: The Porterville Recorder, Construction Underway at Sierra Self Storage

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NAREIT to Host REITWeek 2010 Investor Conference

Apr 14, 2010

NAREIT, the National Association of Real Estate Investment Trusts, will host REITWeek 2010: NAREIT’s Investor Forum, June 9-11 at the Hilton Hotel in Chicago. Held annually, the conference is the world’s largest investor forum focused on REIT and publicly traded real estate investment.

The senior management teams of approximately 100 REITs and other publicly traded real estate companies will make investor presentations at this year’s event. In addition, REITWeek will include a series of panel discussions on critical industry issues, featuring the CEOs of leading REITs as well as major REIT investment managers, investment bankers and leading securities analysts. Approximately 2,000 REIT executives, institutional-investment managers, investment advisors, consultants and retirement-plan sponsors will participate.

Details and registration options can be found at www.nareit.com/meetings/reitweek10.

NAREIT is the representative voice for REITs and publicly traded real estate companies.

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Zorich Joins The BSC Group as Senior Vice President

Apr 14, 2010

Dave Zorich has joined Chicago-based The BSC Group, a commercial real estate financing advisory firm, as senior vice president. Working from San Francisco, Zorich will develop and manage the company’s West Coast self-storage client base, and also support the debt and equity financing requirements of customers who own other types of commercial real estate.

Prior to joining BSC, Zorich was the senior vice president at Brownstone Investment Inc. He also previously served as a vice president at Buchanan Storage Capital, one of the earliest providers of specialized self-storage financing programs. With more than 20 years of Silicon Valley sales and management experience, he has arranged more than $400 million of capitalizations during his career, including bridge and permanent loans, mezzanine debt, joint-venture equity, construction financing, and property dispositions.

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Amazing Spaces Awarded The Woodlands 'Best' in Self-Storage Category

Apr 14, 2010

Amazing Spaces was recently named the “Best of The Woodlands 2010” winner in the self-storage category by WoodlandsOnline.com, an online portal for this suburb just north of Houston, Texas. The website, which averages more than 152,000 unique visitors per month, asked visitors to vote for their local favorites in 80-plus categories. Amazing Spaces was awarded the No. 1 spot in the storage category.

Facility owners Kathy and Scott Tautenhahn said they are honored to have been recognized by the community. “We’re excited to receive such a special acknowledgment,” Kathy said. “Being voted as the best in The Woodlands by our customers and neighbors makes the honor all the more thrilling.”

Amazing Spaces has three locations in the Houston area and plans to open two more facilities next year. Its award-winning storage properties offer self-storage, RV and boat storage, wine storage and more. Amazing Spaces Franchising LLC offers franchise opportunities to qualified applicants.

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ISS Blog

Marketing Ideas Abound on Self-Storage Talk

Apr 14, 2010

In recent years, marketing has become more important than ever among self-storage facilities, which are having to compete fiercely for customer dollars. One of the liveliest areas of Self-Storage Talk is the Marketing forum, where SST users gather to discuss topics such as sales techniques, discounts, referrals, print vs. online advertising and social media.

In a forum like Marketing, posters share not only the ideas that have worked for them but also the ideas that haven't. In one such thread, A Marketing Mistake That I Made Was ..., users humbly admit to a few marketing endeavors that turned out to be wasted time and money. Among the failed ideas: value pack coupons in the mail, coupons left at local restaurants, and the Yellow Pages.

But, as often happens on SST, the thread subtly changes from one where users bemoan their bad ideas to where they're again sharing good ideas. User shaekirk, a facility manager, shared how she's found that free cloth tote bags (or grocery bags) are an effective form of branding. After all, everyone has to go grocery shopping, and most despise those plastic bags, so people will gladly use an alternative that's free and better for the environment. That idea has piqued the interest of user JamestownStorage#8, also a manager, who's looking for a place online to order the bags. Right away, someone is taking an idea from the forum and implementing it.

This is one small example of how the forum can provide ideas that make your business better. If you've picked up an idea from SST, put it into practice, and seen success from it, share your story on this thread.

Helpful ideas are everywhere on Self-Storage Talk. Start sharing yours today, if you're not already there.

Bill Regarding Personal Information in Self-Storage Signed by Maine Governor

Apr 13, 2010

A law pertaining to private information stored by delinquent self-storage tenants, Maine Legislative Document 1499, was signed by Gov. John Baldacci on March 22. “An Act to Protect Confidential Consumer Records in Self-Service Storage Facilities” (SP 577, LD1499), is favorable for the self-storage industry, limiting the liability of facility operators. Operators can now destroy abandoned third-party records without recourse. The law goes into affect in May.

The Maine Self Storage Association (MeSSA) and its president, Rhonda Hallett Pope, worked with the state legislature to craft and amend this new bill, which was sponsored by Sen. Peter Bowman. Details of the bill can be read here: http://www.mainelegislature.org/legis/bills/display_ps.asp?ld=1499&PID=1456&snum=124.

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A Better Sales Philosophy for Self-Storage Businesses: Service and Compassion

Apr 13, 2010

We’ve all heard the preaching about how to best improve your sales process: neat and clean facility, good phone skills, ability to “think on your feet,” role-playing, clearly articulating features and benefits, nice office setup ... This checklist could go on and on.

If implemented or followed, each item should help streamline our sales process. But what I believe to be one of the most critical aspects of customer relations and, in turn, effective sales is understanding of the customer.

I’ve generated a few laughs over the years by comparing our sales trenches to the funeral industry; the parallels simply cannot be ignored. Our managers, though not regularly clad in dark suits, deal with a variety of negative emotions in their customers―from messy divorces, to financial struggles and job loss, kids moving back home, elderly parents moving in with their families, and even death. The ability of the manager to relate with that array of emotions is crucial in your self-storage operation.

Understanding Your Customer

Owners, you have the opportunity to implement a culture in your business that helps people. It begins with how you relate with your employees, how you treat others, and the personal principles you live out in your daily life. It’s said that character is not defined by how you treat those you look up to, but how you treat those looking up to you. As the CEO of your company, strive to implement a culture of serving others, relating well to people, leading with character, and helping those around you.

Will it translate to profit? Absolutely. Keeping your employees happy, honoring you and modeling your business philosophy should translate to happier customers, more referrals and a more viable business. Most owners are behind the curve on implementing a strong, stable customer-service philosophy. Your stock will rise, so to speak, if you set the tone for your business.

Store managers need to know that when the next person walks through the door, it’s likely not the happiest day of his life. The demand for storage is often born out of a particularly stressful or emotional life event. There are many managers who clearly do not like their jobs. They’re unhappy, bored or underpaid, so they don’t do their best when it comes to customer service.

Some refer to themselves as “property managers,” but the guy talking to the customer should be a salesperson most of the time. His job is 80 percent customer service.

Regardless of the title you use, the facility manager should focus on providing a high level of service to the customer. He is in the unique position of having all the tools required to meet the customer’s needs. Remember, people don’t lose sleep at night with excitement about going to rent a storage space. They may lose sleep because of money, time, health or anxiety, but going to rent a storage unit, no matter how flashy your sales presentation, is a demand born out of some stressful life event.

Put a New Spin on Sales

When you buy into the idea that your business services a regular and stable demand brought on by certain life events (good and bad), it should give a new flavor to your business model. It should provide a satisfaction in making the dreaded sales or prospecting calls, clearly stating your value proposition, discussing options with customers and articulating the benefits your store offers.

No matter our position in this industry—owner, manager, part-time staff—we are in the service business. Not everyone buys into that concept. Just visit the other stores in your market. Count the managers who stand up when you enter their office. Count the ones who smile. And count the ones who look like they’d rather be doing something else. Where you can sharpen your sales edge is in auditing your sales philosophy. Do you take orders for storage, or do you identify, address and fill customer needs?

In this age of automation, there has been a mass exodus of personal service in business. But as storage owners and managers, we have the opportunity with every new day to bring it back and reap the benefits from a clientele demanding a personal touch. That high level of service is especially critical in our industry. The customer may be walking through your doors already stressed, angry, defeated or just in a generally bad mood.

You may not have the newest site, the flashiest security display or the scrolling reader board. But you can easily have the best customer service by taking a new look at your customer and finding creative ways to meet his needs. It’s through that relationship in which your business sells, collects and profits.

What makes our industry so stable is the demand generated by those unavoidable life events. I challenge you to look hard at your company’s philosophy and strive to look for those needs in your customers. When you meet those demands with a smile and provide your customer with great service, you’ll begin to see the benefits in the short and long term.

Benjamin K. Burkhart is owner of BKB Properties and StorageStudy.com, a full-service self-storage consulting and resources firm. He works with developers around the country in assessing site feasibility, market strength, marketing strategies, financial analysis, profit enhancement, site design and deal structure. To reach him, call 804.598.8742; e-mail [email protected]; visit www.storagestudy.com.

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