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Extra Space Storage Releases 1Q 2011 Financial Results, Holds Conference Call

Article-Extra Space Storage Releases 1Q 2011 Financial Results, Holds Conference Call

Extra Space Storage Inc. will release financial results for the three months ending March 31 on Wednesday, April 27 after the market closes.

The company will host a conference call at 12 p.m. ET on April 28 to discuss its financial results. Hosting the call will be Extra Space Storage's CEO and chairman, Spencer Kirk. Joining him will be Kent Christensen, executive vice president and chief financial officer, and Karl Haas, executive vice president and chief operating officer.

During the conference call, company officers will review first-quarter performance, discuss recent events, and conduct a question-and-answer period. The question-and-answer period will be limited to registered financial analysts. All other participants will have listen-only capability.

To participate in the call, dial in at least five minutes prior to start time. The phone number is 866.383.8119 for domestic callers, and 617.597.5344 for international callers. The conference ID is 22612075 for all.

A recording of the call will be available through May 28. The phone number to access the playback is 888.286.8010 for domestic callers, and 617.801.6888 for international callers. The ID is 37871029.

The conference call will also be available on the company's website under Investor Relations. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in register, download and install any necessary audio software. A replay of the call will be available for 30 days on the company's website.

Full text of the earnings report and supplemental data will be available on the companys website and via mail or fax by request. To receive a copy, call Extra Space Storage Investor Relations at 801.562.5556.

Headquartered in Salt Lake City, Extra Space owns or operates 820 self-storage properties in 34 states and Washington, D.C. The companys properties comprise approximately 550,000 units and more than 59 million square feet of rentable space.

Uncle Bobs Self Storage Receives Approval for $1.5 Facility in Jacksonville, Fla.

Article-Uncle Bobs Self Storage Receives Approval for $1.5 Facility in Jacksonville, Fla.

PAR Builders II Inc. received a building permit this week from the city of Jacksonville, Fla., to build a $1.5 million self-storage facility.

The planned facility at 7657 103rd St. will be an Uncle Bobs Self Storage. The building will encompass 51,393 square feet.

Uncle Bobs is the operating name for Sovran Self Storage Inc. The company currently has five self-storage facilities in the Jacksonville area.

Sovran Self Storage Inc. is a self-administered and self-managed equity real estate investment trust that acquires and manages self-storage facilities. The company operates 371 facilities in 24 states.

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Critical Components to a Boat/RV-Storage Marketing Plan: Recruiting, Partnerships and Referrals

Article-Critical Components to a Boat/RV-Storage Marketing Plan: Recruiting, Partnerships and Referrals

By Amy Campbell

When it comes to marketing, operators of boat- and RV-storage facilities face many of the same challenges as traditional self-storage operatorsnamely budget restraints and maximizing new strategies. However, there is one significant difference: the tenant. While self-storage operators can market to any person or business in their target area, the boat/RV-storage operator must target a very specific type of customer. Thats why careful marketing is such a critical component of every boat/RV-storage operations success.

Marketing Differences

One advantage boat/RV-storage operators have is their geographic market is larger than that of a typical self-storage facility, which has often been defined as a 5-mile radius around the property. Many boat/RV-storage tenants will drive 20 miles or more from their homes to store their vehicles. They choose a facility based on location, regardless of its distance from their homes. Facilities along highways or near bodies of water and recreation areas are a natural selection for boat/RV-storage tenants who dont wish to haul their recreational vehicles over long distances.

Lake Havasu RV & Boat Storage of Lake Havasu City, Ariz., is a good example. Located near the popular lake and just outside the resort town, the facility has retained a lengthy waiting list of customers over the years. About 85 percent of its tenants live up 2,800 miles away.

Another advantage boat/RV-storage operators enjoy is a longer average tenant stay. While traditional self-storage customers stay just under a year, the average rental for a boat/RV-storage unit is two years. This is important when it comes to amortizing marketing costs to attract new tenants.

While security and convenience play key roles in traditional storage, the boat/RV-storage customer is looking for more. Operators who offer flexible hours fare better than those with restricted access. Most tenants want 24/7 access to their vehicles, so while security should be stringent, it should also be accessible. Individual gate codes, unit alarms, fire-sprinkler systems, and an abundant amount of video surveillance put renters at ease.

These tenants are also attracted to amenities such as wash bays, a retail store stocked with boat/RV-specific items, electrical outlets, a dump station or a cleaning service. Add-on services such as these will attract new customers and keep current ones coming back.

Best Marketing Avenues

Like traditional self-storage, boat/RV storage can use multiple marketing strategies to attract tenants. One of the best tools is a facility website. Boat and RV owners are looking for a safe and attractive place to store their vehicles. Your website should convey that image. Broken links, outdated information and poor Web design will lead users to think your facility is as rundown as your website.

Instead, spend the money and take the time to develop an attractive site with a few colorful graphics of your facility and essential information such as unit sizes and amenities. Leverage your online presence through search-engine optimization (SEO), which involves the content of the site, its code and use of keywords. This is one area where you may want to seek an expert to ensure the best results.

Boat- and RV-storage operators can also greatly benefit from missionary marketing, says Tom Litton, president of Litton Property Management Inc., a third-party management company and consulting firm. These operators must actively recruit tenants. Outbound marketing efforts, though often more expensive to implement, tend to yield a much higher return on investment, Litton says, particularly because boat/RV-storage customers tend to rent for longer periods.

Operators should reach out to boat and RV dealerships, marinas, apartment communities, homeowners associations, chambers of commerce and similar outlets. Its also a good idea to solicit referrals from other storage facilities that do not offer this type of storage, Litton says.

One of the best marketing sources to reach new customers is, in fact, your current tenants. Boat and RV renters tend to tell other boat and RV renters about their storage choices, Litton says. Create a referral system and promote it to existing tenants. For example, for every referral a tenant provides, offer him $50 off one months rent or $25 cash. You can also reward the referred customer with a discount or cash. If you have a competitor who doesnt offer boat/RV storage, ask if hell refer those customers to your facility for cash or another incentive.

Customer service is a key to keeping tenants happyand creating word of mouth. When tenants are on the property, take the time to acknowledge them. During the summer months, offer them cold bottled water. If you have it in the budget, add your logo and website on the bottle. In the winter, offer hot coffee, cocoa or tea to customers in paper cups, which can also be branded with your marketing message.

Consider partnering with a local boat/RV mechanic who can provide onsite services, or implement an onsite wash service. I have one facility where we wash every boat and RV every month in the summer and every other month in the winter, Litton says. The reality is we simply spray off the dust and squeegee the windows. However, our tenants see this as the best customer service theyve ever had.  We get a tremendous amount of referrals from this one practice alone.

An important component to all facility marketing is tracking your results. Ask new tenants how they heard about your facility. Then regularly review where your tenants come from and capitalize on those marketing programs. Marketing your boat and RV storage doesnt always translate to a big budget. Nearly any marketing program can be modified to fit your budget and tenant demographics.

Extra Space Storage in Florida Receives Award for Excellence in Development

Article-Extra Space Storage in Florida Receives Award for Excellence in Development

The Extra Space Storage location in the Coconut Point area of in Estero, Fla., received the 2011 David Graham Award for Excellence in Development. The award was presented at the Southwest Florida Urban Land Institute program on April 7  by the Estero Community Planning Panel and the Estero Design Review Committee.

The groups cited the facility's architectural design, and aesthetic and construction components. The facility features 853 units and 85,000 square feet in a four-story building.

Jack Lienesch, chairman of the Estero planning panel, told the source, "This facility has surpassed any conventional self-storage facility built in the Florida market. Besides providing a beautiful addition to the Coconut Point development, it fits well with the existing surrounding structures, features top-quality landscaping and still preserves its self-storage component."

The Estero Community Planning Panel and the Estero Design Review Committee are volunteer community organizations that work with Lee County developers and residents to reinforce Estero's distinctive design standards. Estero is located 15 miles of Fort Meyers.

Headquartered in Salt Lake City, Extra Space Storage Inc. owns or operates more than 800 self-storage properties in 34 states and Washington, D.C. The companys properties comprise approximately 540,000 units and more than 58 million square feet of rentable space.

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LifeStorage Facilities Featured on 'Auction Hunters' in May

Article-LifeStorage Facilities Featured on 'Auction Hunters' in May

LifeStorage self-storage facilities will be featured on episodes of "Auction Hunters" (10/9 p.m. Central, Tuesdays, Spike TV) May 3 and May 10. The popular TV show filmed at several of the storage companys facilities in February.

LifeStorage holds auctions every other month at its facilities. "It was a great time to have 'Auction Hunters' film at our locations," said Matt Clark, LifeStorage's vice president of operations.

In Season Two, prospectors Allen Haff and Clinton "Ton" Jones attend self-storage auctions from Miami to Chicago. The series follows Haff and Jones in their quest to win auctions, dig for abandoned historical treasures and sell them for a profit. This season they uncover high-valued items including a Winchester model 1912 shotgun, worth $1,500, and the exact scale remote control replica of a $3 million luxury Viper Fan Jet plane, worth $11,500.

All 16 LifeStorage location are in Chicago or one of its suburbs. The sites offer 24-hour, year-round access and other amenities and add-on services such as climate control, office suites, records storage, document destruction, mailboxes, heated loading docks, digital surveillance, and free Starbucks coffee.

A-1 Self Storage Supports Fresh Start Surgical Gifts

Article-A-1 Self Storage Supports Fresh Start Surgical Gifts

A-1 Self Storage, a provider of self-storage throughout California, is providing monetary support of Fresh Start Surgical Gifts, a fund that promotes free reconstructive plastic surgery and related medical services to disadvantaged children and young people with physical deformities.

Fresh Start services including surgery, dental, laser and speech clinics are provided in San Diego, Calif., by all-volunteer teams of surgeons and medical professionals. Reconstructive surgery and related services are provided to children from the United States and abroad. Some of the conditions treated include Microtia, Hemangioma, Neurofibromatosis, Hairy Nevus, Cleft lip and Cleft palate, Treacher Collins Syndrome, Portwine stains, and Hemifacial Microsomia.

Fresh Start patients are remarkable, said Brian Caster, A-1 president and CEO. Some are victims of war, others of tragic incidents; still others are born in need of surgical intervention. Fresh Start and their volunteering medical teams work tirelessly to offer the children a fresh start in life.

A-1 Self Storage provides self-storage and car storage in California, with 16 locations in the San Diego County area and more than 40 locations statewide. A-1 is the self-storage division of the Caster Cos., a third-generation, family-owned company headquartered in Southern California since 1959.

The Caster Cos. specializes in the acquisition, development and management of commercial properties. Its portfolio includes more than 4 million square feet of real estate.

Free Webinar on Self-Storage Concessions Presented by SkilCheck, April 15

Article-Free Webinar on Self-Storage Concessions Presented by SkilCheck, April 15

Carol Krendl, owner and CEO of SkilCheck Services, will host a free webinar for self-storage operators on April 15, 10 a.m. PT, on how to effectively offer concessions. The 30-minute online seminar will provide facility owners and managers with pointers for offering discounts without going overboard.

Krendl will also host a one-hour webinar on April 19, 11 a.m. PT, on self-storage employee background checks, a critical step in the hiring process. The presenter will walk attendees through the risks of conducting these checks and how to ensure youre doing them properly. The cost to attend this event is $59 per attendee.

Registration for both webinars can be completed at www.skilcheck.com/selfstoragewebinars.html.

Krendl has been involved with the self-storage industry since 1984. She currently serves vice president of the California Self Storage Association. SkilCheck provides services for self-storage operators including mystery shopping, manager background checks, manager training, employment evaluations and more.

Witness Spots Man Breaking Into Michigan Self-Storage Facility, Calls Police

Article-Witness Spots Man Breaking Into Michigan Self-Storage Facility, Calls Police

Police arrested a man Thursday after he was observed breaking into a self-storage unit in Port Sheldon Township, Mich.

A witness called police about 8 p.m. after seeing a man break into a unit at Advanced Self-Storage, according to police reports. The witness was able to give police a description of the man and his vehicle.

Police later arrested Brett Roberts, 47, of Grand Haven, Mich. He was arraigned in Ottawa Countys 58th District Court on Friday for breaking and entering with the intent to steal.

According to police, Roberts stole golf clubs, camping equipment, tools and other household goods from several of the facilitys storage units. Some of the goods were recovered and returned to their owners, police said.

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Access Self Storage in New Jersey Launches E-Waste Recycling Program

Article-Access Self Storage in New Jersey Launches E-Waste Recycling Program

Access Self Storage in Franklin Lakes, N.J., has launched an e-waste recycling program for residents and businesses with fewer than 50 employees.

The facility will accept desktop computers, laptops, phones, fax machines and video games. On Saturday, six computer monitors, 14 computers, eight televisions, three VCRs and other computer and electronic devices were collected.

The program is run by AERC Recycling Solutions and E-World Online LLC. A state law went into effect in January mandating the recycling of TVs and computer equipment.

Access Self Storage has 17 locations in New Jersey and two in New York.

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ISS Blog

What Is a Self-Storage Manager?, Part 2

Article-What Is a Self-Storage Manager?, Part 2

In my last blog, I defined a manager as a human being. So now lets determine the impact of the person who holds the title of manager.

A manager is charged with overseeing a project, pieces of a project and, possibly, other people. Thats simple enough, but we all know theres more involved. A manager wears all types of hats when operating a storage facility. They are counselor and consoler to tenants facing lifes problems. They are storage professionals, consultants who know and represent their product to a high level of customer interaction and satisfaction. They are janitors, repair people, gardeners, security personnel and more.

There is, of course, the other side of the title of manager. The responsibilities the title denotes the manager has to ownership. While the responsibilities are varied and as unique as each property, we can make some unilateral presumptions. A manager is the responsible party at the facility level. The manager is charged with following policy and procedure as set forth by ownership. A manager is also charged with representing the company in a positive and professional manner. A manager, even if there is discord with ownership, should never let the customer know theres a problem.

The site manager is also responsible for marketing the facility in the best ways possible, to portray the public persona of the company. In this regard, its up to the individual manager to do the best job he can, and to seek education and stay on top of industry hot topics, news, legal changes and more. A savvy owner will support this type of knowledge with staff and all will succeed.

In the last blog, I shared with you a story of an owner with a bad attitude. This time, its managers who will take the heat. As with the aforementioned owner, the guilty parties contained within will remain anonymous.

Much to my personal chagrin, there are more bad managers out there than any of us would care to think about, much less admit. One couple that comes to mind had the dream job. A partnership that gave them anything they asked for. The pay and benefits were great and they had a beautiful home to live in. You would think this couple would bend over backward for such giving owners, but this was not the case.

On one hand, you can see all the things they were receiving from the owners. However, what was not obvious at first, due to ownerships generosity, was the thievery that was taking place. Being privy to the general numbers at this facility through a friend of the owners, even I was shocked when I learned what this couple had managed to pull off. The amount and the ways they took from the owners are horrifying!

One member of the team handled all the accounting for the owners. This couple managed to purchase a new, top-of-the-line car, a vacation home, plus two motor homes. Granted one motor home was a bit on the shabbier side for a relative, but theirs was superb. It had a basement, push-out rooms and all the amenities. What trusting owners and what horrible employees. Sure, there were clues. They were living such a luxurious lifestyle it made you wonder, but the owners were such giving people.

Another manager couple I know of focused more on cash than on things, so it took longer for them to be exposed. It wasnt until an altercationstiffing a relief from their cutthat many of the ways funds were appropriated from the owners came to light. Renting units for cash-paying customers, and pocketing cash were just some of the ways they enriched their own pockets. They sold items stolen from stored RVs and contents of many units at flea markets. The stories we could share of good vs. evil are as endless as there are people on this earth.

Each couple met their appointment with destiny and hit hard times not long after being exposed. For the sake of those who take pride in doing the job of manager, well, I wish these couples had been prosecuted. However, to avoid negative public relations, both property-owner partnerships decided to eat their losses and move forward. I cant say I blame them in that regard, but one of these couples managed to work in the self-storage industry for at least another 10 years. That part sickens me, but I understand ownerships position as their business depends on customer perception of their product.

What all of this tells us is this: To be a good manager means doing your job responsibilities properly, but also being cognizant of the impact your actions have on others. If you feel you deserve a raise, make your notes, put together a presentation and ask. If your owner says he cant meet your request right now, ask when you can expect to revisit the conversation and if there is anything else you can do to assist in whatever the stumbling block is. Ask for feedback. Most of us take others for granted from time to time, not out of meanness, but simply from life flying by too quickly.

Maybe that raise hasnt been forthcoming as ownership was expecting something else from you and he meant to tell you what he would like to see. Or maybe your annual review slipped his mind. You are the responsible manager, so ask for that meeting or feedback. Then be the adult you are and be prepared to take a knock or two along the way. Doing things the way weve always done, isnt always the best answer.

A good manager is a responsible person, who does his utmost to be the best employee he can be. A manager needs to accept not only the good job praises, but also the constructive criticisms in a professional manner.

Take a moment to reflect upon how you view, think of, and treat your ownership and then Do unto others and Im fairly certain good karma will be a partner in your life. Your self-storage owners should treat you with the same level of respect and business savvy that you show to them. What can it hurt to try? You may just end up with a more professional, mutually respectful working relationship. To quote one more canned phrase: Crime doesnt pay, at least not in the long run.

Gina Six Kudo is the general manager of Cochrane Road Self Storage in Morgan Hill, Calif. She has more than 15 years of self-storage experience, and a strong customer-service and sales background.

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