Real estate software company Yardi Systems Inc. recently acquired Lead Tracking Solutions (LTS), creator of the PopCard and a lead-management technology provider for the self-storage industry.

The PopCard automatically captures prospect leads and instantly alerts users, such as self-storage facility managers, when new leads arrive. Users can view traffic sources and the effectiveness of advertising campaigns, with immediate reporting available. The PopCard includes built-in follow-up tools for turning leads into leases and helps manage employee response and effectiveness.

With the acquisition, Yardi clients will be able to add the PopCard to their existing products, automating the tracking of rental prospects to maximize marketing dollars.

The LTS staff will be retained by Yardi in its current location to ensure a seamless transition.

Based in Costa Mesa, Calif., LTS offers PopCard, a lead-management solution for self-storage and other industries. By providing automated applications to manage leads and prospect communications, the product is designed to reduce costs and increase productivity for self-storage facilities.

Yardi has been a global provider of real estate investment management and property-management software for 30 years.

Real estate investment trust Sovran Self Storage Inc., operator of the Uncle Bob's Self Storage chain, has purchased a 10-property portfolio in the Dallas area for $29 million. The seller was a Texas-based investment group operating as Sunbelt Self Storage.

The properties will all be rebranded as Uncle Bob's. They are located in Arlington, Bedford, Benbrook, Coppell, Fort Worth, Grand Prairie, Plano and Watauga.

The buyer was represented in the transaction by Angelo Tomasello, president and CEO of The Locke Group in Williamsville, N.Y. Sovran was represented by Nicholas Malagisi, national director of self-storage for Sperry Van Ness in Buffalo, N.Y.

Since its inception in 1998, The Locke Group has been primarily engaged in negotiating on behalf of Sovran with self-storage owners for the acquisition of their properties.

Sperry Van Ness specializes in the marketing, sale, disposition and acquisition of self-storage properties throughout the United States.

Sovran has more than 430 self-storage facilities in 25 states, with a large presence in Texas.

Penny Pinchers Self Storage, a 49,688-square-foot self-storage facility in Charlotte, N.C.,  sold for $1,025,000.

Built in 1974 the facility was renovated in 2008. The facility, 124 Dorton St., has 334 self-storage, non-climate controlled units and 19 units for RV/boat parking. These units range from 50 to 600 square feet. At the time of the sale, Penny Pinchers was 77 percent occupied.

Michael A. Mele, a first vice president investments and senior director of Marcus & Millichaps National Self-Storage Group, Allen Smith, a vice president investments in the Charlotte Uptown office, and associate Stacey Gorman in the Atlanta office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Mele and Gorman.

Marcus & Millichap specializes in commercial real estate investments. The company has more than 1,200 investment professionals in offices nationwide.

Sovran Self Storage Inc., a self-storage real estate investment trust, announced a dividend of $.45 per share of common stock for the first quarter of 2012. The annualized dividend is $1.80 per share, which, based on Tuesday's opening share price, equates to an annual rate of approximately 3.6 percent. The dividend will be paid on April 26 to shareholders on record as of April 12.

Sovran is a self-administered and self-managed equity real estate investment trust in the business of acquiring and managing self-storage facilities. The company operates 446 properties in 25 states under the name Uncle Bob's Self Storage.

Canadian self-storage operator StorageVault Canada Inc. recently shared financial results for the fiscal year ended Dec. 31. Company revenue increased 52.7 percent from 2010 to about $3.9 million. Net operating income from properties increased 23.7 percent to about $1.7 million compared to the year prior. Cash flow as measured by funds from operations increased 23.2 percent to about $627,000.

Other key happenings from 2011 included an announcement in November that the company planned to acquire a 35,000-square-foot facility in Calgary, Alberta, with more than 400 units for $3 million. The acquisition is expected to close on April 30 or sooner.

Last month StorageVault acquired 2.2 acres of undeveloped land in Saskatoon, Saskatchewan, Canada for approximately $480,000. The company intends to develop the land for an expanded PUPS portable-storage operation as well as fixed self-storage using PUPS units.

At the end of 2011, StorageVault's portfolio included 132,700 square feet of rentable self-storage space and 90,000 square feet of rentable portable-storage area. The company owns and operates Trans Can Mini-Stor in Regina, Saskatchewan; Kenaston Self Storage in Winnipeg, Manitoba; B&B Mini Storage in Cambridge, Ontario; and Parksville Mini Storage in Nanaimo, British Columbia. Each of these sites operates in conjunction with a PUPS portable-storage franchise.

StorageVault also owns and operates a PUPS facility in Saskatoon as a standalone portable-storage franchise, and manages five facilities and two PUPS franchises in South Ontario.

G5, a provider of marketing solutions for the self-storage industry, and E-SoftSys, a provider of self-storage software, have released an integration solution that connects the G5 Digital Experience Management (DXM) platform with the E-SoftSys Self Storage Manager e-CRM module.

DXM helps self-storage operators to "put the right tenant in the right unit to maximize profitability," according to the G5 website. The platform includes five product suites: Discovery, Reputation, Conversion, Retention and Insight.

e-CRM is a customer relationship manager add-on module designed for multi-facility self-storage operators. It allows them to track leads, reservations and marketing campaigns while giving employees the ability to follow up with prospective customers, take payments, manage collections and handle customer-related incidents online. e-CRM interfaces with leading phone systems, call-center systems and more.

The integration of DXM and e-CRM will streamline measurement, tracking and database management for the companies' mutual clients by allowing them to report on data captured via G5s Call Tracker. The data will automatically populate the e-CRM system with campaign metrics that allow them to see all campaign performance data in a single location. This will reduce the need for time-intensive campaign reporting from multiple platforms and the auditing of data transmitted between sources.

Were committed to developing self-storage technology solutions that focus on measurable results and provide clients with the insight they need to improve business performance, said G5 CEO Dan Hobin. We were thrilled to partner with E-SoftSys in developing an integration that will ultimately help our clients boost their bottom line.

The first company to have this integration fully implemented across its entire portfolio of self-storage properties is A-1 Self Storage, which operates 40 California facilities.

This new integration will help our clients streamline campaign performance reporting across multiple facilities, said E-SoftSys President  and CEO Kat Shenoy. They can spend less time evaluating marketing campaigns and more time developing, refining and executing them.

Founded in 2005 and based in Bend, Ore., G5 provides local marketing solutions that help mid-market companies get found online, generate leads, convert leads into customers, track marketing performance, and optimize to the marketing sources that have the best return on investment. G5 has been named one of the fastest growing private U.S. companies by Inc. magazine, one of North Americas fastest growing technology companies by Deloitte, and Oregons sixth fastest growing private company of 2011 by the Portland Business Journal. The company is backed by private equity investor Volition Capital.

E-SoftSys, a Microsoft Gold Certified Partner and ISO 9001:2008 Certified company, provides software products for the self-storage industry. In addition to Self Storage Manager and e-CRM, the company offers other add-on modules such as the INSOMNIAC kiosk interface, online payments, online reservations and rentals, the  QlikView Business Intelligence and Analytics Interface, and the iPad/tablet-based Site Audit and Walk Through Application.

The California Self Storage Association (CSSA), with support from the national Self Storage Association (SSA), has hired a lobbying firm to fight a proposed sales tax on self-storage services in California. The associations argue that self-storage is a rental of real property, not a service.

The proposed tax, being considering during the spring legislative session, would be applied to the sale of personal property sold at retail in the state or on storage, use or consumption in the state. The excise tax would be 7.5 percent of the sales price. If passed, the tax will go into affect on Jan. 1, 2013. 

One of the four bills introduced this legislative session purposed to impose taxes on services, Assembly Bill 2540 specifically applies a tax to self-storage agreements. A two-thirds vote is required in both houses for the sales to be applied to some or all services. Awaiting the vote on the bill, the CSSA and SSA will keep their members informed on its status.

California is not the only state that has been threatened by a sales tax in the self-storage industry. Senate Bill 142, introduced in South Dakota in January, would impose a 4 percent sales tax on the gross receipts derived from self-storage unit rentals, and a 4 percent privilege-use tax on the rental payments for use of the property.

If either bill passes, it will be the first tax law inflicted on the self-storage industry since New Jersey raised its sales tax from 6 percent to 7 percent in 2006. However, this year N.J. lawmakers have presented a bill that would lower the tax back to 6 percent.

By David Essman

Not very long ago, I was at the checkout counter of my neighborhood retail giant buying a gift when the cashier asked if I wanted to purchase an extended warranty. Some years ago I would have responded with a definite, No, thank you. Nowadays, I seriously consider the purchase of such agreements, depending on the product and what inconvenience would come about if my item were to break outside the standard warranty period.

In some cases, when I purchase an extended warranty for a newly acquired laptop or television, I also receive expedited service for the product. This can mean the difference between a few days and two to four weeks of turnaround time. Although I dont always need or reap the benefits of this type of agreement, I do sleep better at night.

Similar comforting benefits are usually available for your self-storage management software or security system, including access-control products or closed-circuit television (CCTV). Here are a few points to consider regarding technical support, as well as what you can expect from your provider within the normal warranty period, extended warranty or service plan. One thing is for certain: Without technical assistance, youll eventually have questions or experience problems while using the product, which will prevent you from accomplishing the many objectives you have for using the system.

Free Support vs. Purchased Agreements

When it comes to free technical support vs. purchased agreements, there are several things you should know. Following is a summary, plus questions to ask and things you can expect from your software provider.

When technical support is included with your purchase, you can expect anywhere from 30 days to as much as a full year of support after your original purchase from most software vendors. Few manufacturers offer free technical support for the life of the product. Within this warranty period, as some might call it, youre typically entitled to as much technical assistance as you need.

For years, I thought extended support agreements or service plans were silly little schemes to make more money. They do make money for the companies that sell them, but they also provide a valuable service, of which some customers regularly appreciate the benefits.

Extended agreements are a great way to provide your staff with assistance after the normal warranty has expired. Unlimited, ongoing telephone support entitles you and your employees to help whenever and with whatever you need, as long as it concerns products from that provider.

Its worth mentioning that with some service plansmainly for your access-control or CCTV productsyou could be entitled to replacements or loaner equipment. Also, if youve solicited help from an installer or authorized dealer to install your equipment, such as a camera system, you may have an option to purchase a service plan from that company, which could have similar benefits to those of the manufacturer.

Here are some questions to ask yourself when considering whether to purchase a service plan or support agreement:

• How technical or computer savvy are your managers?
• Do you have a lot of turnover in personnel?
• Are you seldom available to assist your managers when a problem does arise?
• How complex is your operation?
• Do you have more than your share of power outages or break-ins?

Whether you purchase a support agreement or choose to pay for each individual tech-support call, its important your staff never be reluctant to seek help from the professionals who wrote the program or designed the system. In the case of software, theres no better way to avoid or correct costly mistakes than to let the people operating the system get the help they need from the people who created it.

Reasonable Expectations

Your providers technical-support team will usually have a timeline they like to meet. If they dont answer a customers call immediately, they will try their best to return the call in a specific time frame. A good number of support providers track each incoming telephone call, allowing the service manager to follow the progress of calls and make adjustments by redistributing the workload to keep within objectives.

When calling for assistance, you may or may not reach a technician immediately. Of course, we would all like to be helped the moment we call and not have to wait in line or leave a message. However, considering the level of expertise required to answer your questions and effectively solve your troubles, your software provider will staff only professionals who are trained and experienced. These seasoned individuals are not always easy to come byat least not the very talented ones. In many cases, not just anyone can correctly answer your questions or solve your problem.

One more thing you might consider is there are days and times where higher call volume can be expected. Monday morning might be busier than Friday afternoon. The next business day after a three-day weekend or the first and last days of the month might see a rise in activity compared to most other days of the month. Another factor that can play into the time it takes to resolve an issue is its complexity. Diagnosing a problem will likely require more time to resolve than simple questions dealing with the program operation.

Ask your software vendor what kind of training it offers for you and your staff. Most reputable vendors do offer training for its products, usually at its headquarters, or at state and regional conferences. If sending someone away for a few days is not possible, with the help of a good manual and a few quick phones calls to the providers technical team, you and your managers will be quickly on your way. As far as camera or security systems are concerned, onsite training is often provided by the installer.

Can your software provider point you in the direction of a users group consisting of others who work with the same products? Such a group has great value to your manager. Simply enroll in the group online and get involved with questions, answers and comments.

Finally, always know your support provider's hours of operation and the time zone in which it resides. If theres a problem plaguing your office, will you have to wait until the following day for help? While you probably wont base your software selection solely on the vendor's location, scheduling certain office activities accordinglysuch as upgrades, new installations, end-of-month activities, etc.might reduce frustration levels and help you obtain the assistance you need, when you need it.

David Essman is the director of marketing for Sentinel Systems Corp. of Lakewood, Colo. Sentinel has been a manufacturer of self-storage management software and security systems since 1975. For more information, call 800.456.9955; e-mail www.sentinelsystems.com.

Storage Haven, a 37,210-square-foot, self-storage facility in Odessa, Fla., recently sold for nearly $1.7 million, or about $52 a square foot. The seller was GBTT Storage LLC, and the buyer was an Orlando, Fla.-based private investor and first-time self-storage buyer named BDB Storage LLC. The source did not reveal if the facility will be rebranded.

The purchase price of the land in 2001 before the development of the facility was $200,000.

Located at 2135 Gunn Highway, Storage Haven is a standalone facility built in 2001 and expanded in 2003. According to the source, it's physical occupancy is 94 percent. Of the facility's 296 units, 93 are climate-controlled. There are 14 boat/RV parking spaces. The company website advertises on-site management, 24-hour gate access, packing and shipping supplies for sale, and business services, including a copy/fax machine and free wireless Internet.

The seller was represented by brokers from Marcus & Millichap Real Estate Investment Services, one of the nations largest commercial real estate firms. This deal is clear evidence that demand for smaller deals is back, said Michael A. Mele, first vice president investments and senior director of the Marcus & Millichap National Self-Storage Group.

Adam Wides, an investment specialist from the Marcus & Millichap Tampa, Fla., office, assisted Mele in the transaction. This was our first deal that included SBA 504 financing, and we cant be more satisfied with the process, Wides said. The access to capital opens up a whole other buyer pool for sellers.