Extra Space Storage Inc., a self-storage real estate investment trust, released its operating results for the first quarter ending March 31, 2010. Highlights include:

• Achieved funds from operations (FFO) of $0.19 per diluted share including development dilution of $0.03 per share.
• Increased same-store occupancy as of March 31, 2010 to 82.7 percent compared to 80.9 percent as of March 31, 2009.
• Same-store revenue and net operating income (NOI) decreased by 1 percent and 0.3 percent, respectively, when compared to the three months ended March 31, 2009. 
• Same-store revenue and NOI includes tenant reinsurance income.
• Completed the development of one self-storage property at a total cost of approximately $8.9 million.
• Declared and paid a quarterly cash dividend of $0.10 per common share.
• Closed a joint venture with Harrison Street Real Estate Capital LLC

"The first quarter was another step forward for Extra Space Storage as we continue to recover from the economic downturn,” said Spencer F. Kirk, chairman and CEO of Extra Space Storage Inc. “Our property performance accelerated with improved asking rates and increased levels of occupancy. We are encouraged by the performance of our platform and believe that we can continue to drive operational improvement as storage continues to show its strength in a challenged real estate market."

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SmithStoreit Self-Storage in Huntsville, Ala., is donating 30 units free to victims of domestic violence.

The self-storage facility’s manager, Brent Smith, came up with the idea and contacted Hope Place, a shelter in Madison County for domestic violence victims.

SmithStoreit will provide three months of free storage space. Storage items will be protected and discretion used, Smith said.

Source:   The Huntsville Times,SmithStoreit Offers Free Storage to Victims of Domestic Violence

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Self-Storage Talk: Relay for Life

Access-control systems have always been the standard for self-storage security. But access-control systems cannot protect your facility against tenants with ill intentions. That’s where door alarms become a critical part of your facility’s overall security strategy.
 
Many older self-storage facilities have wired door-alarm systems and, unfortunately, some are now realizing the downside to a wired system: It can be difficult to maintain; it makes it impossible to modify your unit mix; and it’s easily susceptible to damage from tenants and rodents. Fortunately, wireless door-alarm technology is reliable and often more cost-effective for new and existing facilities.

Understanding how a wireless door-alarm system works may seem complicated, but the concept is easy to grasp. At its core, the system is made up of three main components:  

• The wireless sensor, or transmitter, sends the signal back to the office.
• The base station, or receiver, receives the signal from the wireless sensor. This base station connects to your site security system so you can see the door activity and run reports. (Some security packages allow you to see the activity directly in your management software.)
• Repeaters, or transceivers, receive a signal from a distant wireless alarm and boost it back to the office. The quantity needed will depend on the size and layout of your facility.

Whether your door alarms are wired or wireless, you’ll still need an integrated access-control system that will notify the alarm system of who is and isn’t on site. 

Benefits of Wireless
The benefits of wireless are apparent right out of the box. Your security vendor should preconfigure each wireless sensor for your facility. A storage-unit number should be listed on the back of each sensor along with the sensor ID, which should be entered into your security software prior to installation.

Installation of your new wireless alarm system is as simple as taking the sensor out of the box and matching it to the corresponding unit. Typical installation takes less than five minutes per door, and anyone with a cordless drill and four screws can do it. No wires or conduit between buildings or back to the office is needed. This solution works great even if you have an existing wired system that’s no longer functional.

With wireless, you have the flexibility to build your system as your occupancy increases or to best fit your budget. For example, if you have multiple buildings, you can just add sensors to a couple and rent those at a premium. Then use the proceeds to add more as needed. This keeps your start-up costs to a minimum and allows you to tailor your site to the needs of your tenants.

If you currently own a wired system, you understand the challenges of expanding your facility or modifying the unit mix. If you add a building near the back of your property, you probably won’t want to trench through your pavement to get wiring to your office. If you add an additional property, it might be across or down the street rather than immediately next door.

Modifying the unit mix in an existing building is also difficult; if you split a 10-by-10 into two 5-by-10 units, you won’t have a spare wire for your new unit. With wireless, these facility changes are never a problem.
 
Get the Facts

Objectivity is important when making such an important decision as adding individual door alarms. There are still critics out there who will swear wireless is less reliable, has battery issues, etc. Listen to the concerns of the critics, and then quiz your security vendor to see how it responds to those concerns. Here are some of the most common apprehensions people have about wireless unit alarms.

Battery life. All wireless sensors require a battery to transmit the signal back to the office. The long-standing concern is a facility manager will be constantly replacing batteries, especially in cold weather. Consult with your security professional about the battery life of its sensors, and get something in writing that says how long they should last. Many companies offer a standard one- or two-year warranty on batteries; others offer up to a 10-year warranty.

False alarms. Wireless sensors are no better or worse in terms of false alarms than wired sensors. For either system, the quality of the installation dictates how well the system will perform. However, not all wireless alarms are created equally. Ask your security company about the maximum allowable gap can be between the sensor and the door.

Reliability. “But are they reliable?” is a common question about wireless alarms. The answer is a resounding yes. Just think about all the wireless devices that have become such an important part of your everyday life. However, do your homework on the alarm company you’re considering by asking how many systems it has installed and in what climates. Ask for references from facilities in climates that most resemble yours.

Maintenance. If anything, maintenance can be added to the “pro” column in the wireless vs. wired debate. A wireless system is virtually maintenance-free. There are no wires to break or multiplexers throughout the facility to troubleshoot. You never need to call tenants to open their units so a technician can trace a wiring issue. Most wireless sensors are mounted on the outside of the unit to allow easy replacement of either the sensor or the batteries, if or when it is needed.
 
Frequency Considerations

When making the transition from wired to wireless alarms, research the security company and product thoroughly before committing. One important factor to consider with wireless is the frequency in which it operates. Several companies use technology that mimics cordless phones, operating on the 900 MHz frequency range.

Having those sensors at your facility can cause interference for your other wireless devices as well as your wireless sensors. To prevent interference, look for sensors in a frequency range lower than 900 MHz. Doing so will prevent interference issues and increase battery life, since the higher frequencies use more power to transmit.

Individual wireless alarms for self-storage have come a long way since they were originally patented back in the 1990s. Today they offer improved battery life, reliability and ease of installation. Wireless security systems are a great way to modernize your facility while at the same time adding value for your tenants.
 
Sean Cargo is a self-storage consultant and senior account executive for Quikstor Security & Software, a provider of self-storage management software, wireless door alarms, access control and digital video products. For more information, call 800.321.1987, ext. 228; e-mail [email protected]; visit www.quikstor.com.

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The TCP/IP Network Connection Module allows customers to program their DoorKing telephone entry system via the Internet or a local area network connection. In addition to the programming feature, the module will also allow them to monitor live activity at the entry system and stream data for other applications.

The module (DK P/N 1830-175) easily connects to any DoorKing 1830 series telephone entry or access-control system through the RS-232 interface on the system circuit board. This allows the device to be connected to older 1830 series systems as well.   

“Adding this module to an 1830 Series system, even if the system is 10 years old, provides you with the IP and network address for programming via the Internet,” said Richard Sedivy, DoorKing’s director of marketing. “All a customer needs to do is install the module at the system and download, for free, version 6.2c of our Remote Account Manager programming software from our website, and their ready to go!” 

In addition to programming, another benefit of the DoorKing system is that managers can view activity at the entry point as it happens on their computer monitor. 

“The live transaction feature is especially important for extraordinary events, like an anti-pass back violation or an unauthorized access attempt,” Sedivy said. “Managers will know instantly when these types of events occur.”  

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The case of a self-storage owner battling Columbia University over a proposed expansion continues June 1.  

The New York State Supreme Court, Appellate Division ruled in December that the state could not use eminent domain—state seizure of private property for the “public good” in exchange for market-rate compensation—on behalf of Columbia University to take land from self-storage owner Nicholas Sprayregen and the owner of two gas stations. Sprayregen owns four Tuck-It-Away Self Storage facilities.

Columbia unveiled plans to build a satellite campus in 2003 and has since attempted to obtain parts of a 17-acre site in Upper Manhattan for its expansion. After Sprayregen, who owns several self-storage facilities in the Manhattanville area, refused to sell his property, Columbia sought to obtain the land through eminent domain, claiming the neighborhood in question is “blighted.” 

The Empire State Development Corp., the state body that approved eminent domain for the project last December, formally appealed the decision in January and will present its oral arguments on June 1 alongside the respondents.

University administrators say they have no alternate plan if the ruling is upheld.

Source:  Columbia Spectator,  As Eminent Domain Appeal Nears, No Plan B for M’ville, Admins Say 

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The city council in Springfield, Mo., is again considering regulations on the commercial use of self-storage containers—detached semi-truck trailers or large, dedicated containers planted on parking lots.

In 2006, the city held a dozen public meetings and drafted several ordinances, but the issue was tabled in 2008. Council members discussed aesthetics and safety, and battled business owners who were against increased regulations. A new roster of council members is now considering the issue again.

Recently, the city’s planning and development director presented the council with a pair of draft ordinances. The city must first add the definitions of “storage containers” and “storage trailers” to the city’s fire code. The second proposed ordinance amends the city's land development code. 

The ordinance states containers must comply with existing building requirements such as setbacks, easements and perimeter landscaping areas. They can be placed in parking lots, but cannot block line of sight at intersections. A public forum to discuss the ordinances will be held this month.

Source:  News-Leader,  Draft Ordinances Address Use of Storage Containers in Springfield

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Information is being gathered for the Inside Self-Storage 2010 Buyer’s Guide, the self-storage industry’s largest directory of suppliers, products and services. Published annually in the August edition of ISS magazine and accessible year-round at www.insideselfstorage.com, the Buyer’s Guide is completely free to both users and listed companies.
 
The guide includes detailed information about hundreds of suppliers who provide products and services needed by self-storage owners, managers, developers, investors and builders. Organized by company name, product/service type and geography, listings include information such as address, phone number, 800 number, contact name, e-mail address, website and more.
 
To view the current guide, visit www.insideselfstorage.com/bg. To include a company in the updated version of the guide, complete an online form at www.insideselfstorage.com/bg_form. Submissions will be collected until May 28.

ISS is a dynamic-services company that provides resources and services to the self-storage industry including a monthly magazine, bi-annual tradeshows, an information-packed website and educational seminars and materials. ISS is also the owner of the Self-Storage Training Institute (www.selfstorageeducation.com), an online education portal for managers and owners, and Self-Storage Talk (www.selfstoragetalk.com), the industry’s largest online community.

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The community at Self-Storage Talk (SST), the self-storage industry's largest online forum, eclipsed the 3,000-member plateau Friday when member JakeChis completed registration. SST is the official online community of Inside Self-Storage, a provider of industry publications, education, tradeshows and additional resources. Forum membership is completely free.

On March 17, community manager John Carlisle announced a goal for membership to grow to 3,000 registered members by the Fourth of July. The forum had approximately 2,650 registered members at the time.

"I'm thrilled and somewhat surprised that the community met the goal so quickly," Carlisle said. "On the other hand, Self-Storage Talk members rise to meet challenges again and again. They take pride in the site and want to see it grow by leaps and bounds."

Topics being discussed on the site cover a diverse range, from day-to-day management challenges to legal issues to construction-related questions. SST also includes state-specific forums, in which members can communicate about issues and developments within their local areas.

Participation involves a simple registration process in which new members create a username and password and provide a valid e-mail address. Once registered, they can create new or respond to existing threads on numerous issues. They can also post photos of self-storage projects, highlight facility employees, share tenant horror stories, exchange info on educational resources, post job listings or seek employment, and connect with potential real estate and investment partners.

Those interested in becoming members can register here.

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Over the last five years, a device called the “bump key” has surfaced in the media of specialized industries as well as mainstream media. Not only has it been mentioned in locksmith magazines and bulletin boards (especially those frequented by “lock hackers”), it was featured in several local newscasts and even mentioned on the USA Network TV series “Burn Notice” (Season 3, Episode 5).

Consider these two important questions: How many of you have locks at your facility that can be opened with a bump key? And what can you do to prevent this from happening at your site? The answer to the first is easy: Almost all facilities contain locks that can be easily opened with a bump key. Every operator ought to be able to answer the second question, since it addresses customers’ security concerns. First, here’s a little more background on the device itself. 

What Is a Bump Key and How Does It Work?

The bump key is a tool that allows even a novice to quickly compromise a pin-tumbler keyway in a padlock or disc lock. It can open a pin-tumbler disc lock just as easily as it can open a pin-tumbler padlock.

The bump key was highlighted in Newsweek’s August 2006 Web edition, in an article titled “Beware the ‘Bump’ Key.” The story featured Barry Wels of The Open Organization of Lockpickers, a group whose members partake in the hobby of locksport, the study and defeat of locking systems. Wels said members pick locks “not with criminal intent, but more in the spirit of puzzle-solving.” He and an associate, attorney Mark Tobias, explained the potential vulnerabilities of locks the bump key exploits.

A standard pin-tumbler keyway is based on a set of five to seven pins as shown in the accompanying image. The teeth of the key raise and lower the pins. When the key lines up the pins, the “shear line” is aligned, and the cylinder rotates to open the lock.

The teeth on a bump key are ground down to the lowest level. The filed down key is inserted into the lock, held with tension, and then struck with a hammer. (You can even buy a special bump-key hammer online.) The pins bounce, and the lock opens. You can see how this works in dozens of video demonstrations on YouTube.

Even if you don’t think a bump key is common knowledge, it’s still critical to understand how it works and how to prevent it from being used at your facility. You may have customers who are familiar with or hear about it and have concerns that there’s a tool enabling thieves to enter a unit without evidence.

According to cryptographer Barry Schneier, “Lock-picking information, until very recently, has been hidden, not from the bad guys, but from us, the consumers. There’s no economic motivator for anyone to make a better lock because you, the consumer, don’t know [how vulnerable your lock really is].” Thanks to the Internet, however, your customers―along with those thieves who missed the boat on the first round of publicity―might just be finding out about the bump key.

Security experts talk about a technique called “security through obscurity,” meaning that if a security flaw is unknown, it isn’t a flaw. That concept protected pin-tumbler locks since the 1920s. It doesn’t protect them any more. 

Padlocks vs. Disc Locks

Most self-storage operators these days realize that a padlock provides little more than a nuisance to an amateur thief, because its shackle can be cut with an ordinary bolt-cutter. Because a disc lock has a protected shackle, many operators and security experts believe it to be a significant security upgrade to the padlock.

That may have once been the case, but if the disc lock uses the same kind of key and keyway as a standard padlock, the bump key has changed the game. It easily opens any lock that uses a pin-tumbler keyway, the keyway found on most disc locks. With a bump key, disc locks are just “round padlocks” to a thief. You need to know this, and you need to have a response for your customers.

 
A bump key can open a pin-tumbler disc lock just as easily as it can open a pin-tumbler padlock.

Locks That Cannot Be Bumped

The bump key compromises the standard pin-tumbler keyway, found in the vast majority of “thief-resistant” disc locks on which the self-storage industry has come to rely. A disc lock can provide a powerful physical barrier, but with a vulnerable keyway, that barrier is little more than an illusion.

“Bumping is a vulnerability to many standard locks, and that’s why we educate experts on proper steps that can be taken to minimize the risk,” says Clyde Roberson, director of technical services at Medeco High Security Locks, an international lock manufacturer. “Not all locks can be bumped. Consumers need to know the difference.”

Fortunately, there are locks that cannot be bumped. These work through rotating detainer discs and a sidebar rather than pin tumblers. The detainer-disc keyway, developed nearly 100 years ago, is built around a series of seven to 11 discs. Each must line up with a sidebar to rotate the cylinder and open the lock. There are no pins or springs to bump. A detainer-disc keyway works in a padlock, a disc lock or a cylinder lock.

A lock such as the Medeco “biaxial,” which requires the pins to be lifted and rotated precisely, is described as “bump- and pick-resistant.” Medeco developed the biaxial in 1985 to defeat the bump key. With teeth and pins cut at angles, the pins must be rotated just so to open the lock. 

This year, Master Lock introduced its version of a bump-resistant keyway. It’s important to note that both the Medeco and Master Lock solutions are recent developments, and there are hackers who insist they have defeated the Medeco biaxial. Only the detainer-disc sidebar system has been successfully field-tested for nearly 100 years. According to Frank Minnella, CEO of Lock America International, the system was invented in Finland in 1914, and has never required modification to prevent bumping. 

Meet the Challenge

Google the term “bump key” and watch the videos. Then contact a lock manufacturer and ask about the bump key―in particular, what products it has designed to meet this challenge. It’s a good idea to do this before one of your tenants asks you the same questions, and certainly before an intruder or one of your customers decides to try out key-bumping at your facility. Of course, since there will be hardly any evidence that a lock has been bumped, you may not have to account for key-bumping until a customer reports a mysterious theft. 

Rich Morahan is a marketing consultant for Lock America International. He frequently writes and conducts seminars on self-storage marketing and security. To reach him, call 617.240.0372; e-mail [email protected]; visit www.laigroup.com.

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