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2017 Case Study: What Happens When the Unexpected Happens in Self-Storage

White-paper-2017 Case Study: What Happens When the Unexpected Happens in Self-Storage

This case study by Tenant Property Protection shows how tenant losses were covered after a fire at Money Saver Mini-Storage in Portland, Ore., destroyed 313 units. It provides an overview of what happened and how claims were handled, and includes interviews with executives from the operator's management company, Storage Partners.

  • Discover how self-storage operators and tenants benefit from a property-protection program.
  • Get an overview of the claims process.
  • Learn insight from the facility operator's management company.

Montville, NJ, Ordinance Allows Self-Storage Near Senior Housing, Office Districts

Article-Montville, NJ, Ordinance Allows Self-Storage Near Senior Housing, Office Districts

The Montville, N.J., Township Committee passed a zoning ordinance on June 13 that will allow self-storage to be developed in two office-building zones. The revised ordinance will enable a storage project to proceed on U.S. Route 202, near a senior-living center called Senior House. It’ll also allow future storage projects from the intersection of Changebridge Road and Route 202 to the entrance for Interstate 287 North, according to the source.

Though resident Mary Ann Henry voiced concern that trees in her neighborhood could be cut down, eliminating them as a noise buffer between houses and the 287 freeway, the committee guaranteed no trees would be removed, the source reported.

Steven Schepis, an attorney representing the zoning applicant, argued the self-storage facility would generate less noise and traffic than office buildings already allowed in the district.

Committee member Deb Nielson supported the ordinance, noting the proposed self-storage project would be built on an underutilized parking lot. The revised ordinance will also enable better marketing of suitable properties without removing the retail intent of the original ordinance, she said.

The ordinance passed 4-1, with Richard Conklin the lone dissenter. Conklin indicated he couldn’t support the revision unless it included provisions designed to preserve the architectural aesthetics of the area. The planning board originally intended for those zones to be pedestrian-friendly, including walkways, he said.

Sources:

Inside Self-Storage Opens Data Collection for 2017 Top-Operators List

Article-Inside Self-Storage Opens Data Collection for 2017 Top-Operators List

Inside Self-Storage (ISS) is now collecting data for its 2017 Top-Operators List, which identifies 100 of the self-storage industry's leading operators based on total net-rentable square footage. The list includes facility and brand owners, independents, and property-management companies. The data also features the number of locations and units, expansion plans and contact information.

To participate, companies that have been published in a past list can log in to update their existing information. Operators who are new to the process can create a listing through the same Web page. Submissions must be complete by July 28.

The new Top-Operators List will be featured in the October 2017 issue of ISS magazine and published online on Sept. 15. Past lists are available for purchase in the ISS Store. The 2016 store product includes extras not available in the general listing including additional data on owned vs. managed self-storage facilities for each company, with breakouts for number of facilities, units and square footage for each. The package also includes a four-page analytical report, an easy-to-digest list summary, and a sortable Excel file of list participants and their data.  

For more than 25 years, ISS has provided informational resources for the self-storage industry. Its educational offerings include ISS magazine, the annual ISS World Expo, an extensive website, the ISS Store, and Self-Storage Talk, the industry’s largest online community.

 

NSA Property Holdings Acquires Tri-State Self Storage in Castle County, DE

Article-NSA Property Holdings Acquires Tri-State Self Storage in Castle County, DE

NSA Property Holdings LLC, an affiliate of real estate investment trust National Storage Affiliates Trust (NSAT), has acquired a three-property Tri-State Self Storage portfolio in Castle County, Del., from Tri-State Realty Associates L.P. The facilities sit on approximately 28.3 acres of land, according to a press release from SkyView Advisors, the investment-sales and advisory firm that brokered the deal.

Overall, the properties comprise 264,237 rentable square feet of storage space in 2,428 units, 568 of are climate-controlled. They also contain 109 parking spaces and miscellaneous units, the release stated.

“It’s not often that a portfolio of this size becomes available in this region of the country, and it garnered multiple bids from national self-storage buyers,” said Ryan Clark, director of investment sales for SkyView Advisors and a broker in the transaction.

Last month, NSA Property Holdings acquired Stor-N-More Self Storage in Tampa, Fla., for $19 million. The property comprises 117,655 net rentable square feet in 1,105 units.

SkyView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, the firm also has offices in Cleveland and Milwaukee.

Headquartered in Greenwood, Colo., NSAT is a self-administered and -managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. Metropolitan Statistical Areas throughout the United States. The company has ownership interest in 456 storage facilities in 23 states. Its portfolio comprises approximately 28 million net rentable square feet. It's owned by its affiliate operators, who are contributing their interests in their self-storage assets over the next few years as their current mortgage debt matures.

 

Tips to Easily Create and Maintain a Quality Website for Your Self-Storage Business

Article-Tips to Easily Create and Maintain a Quality Website for Your Self-Storage Business

By Jana Haecherl

Are you looking to create a quality website for your self-storage business? The shift to providing self-service tools and mobile optimization has made the process more complex, and you may be intimidated to jump into the online arena. But building a website doesn’t have to be a long, confusing or expensive procedure. Here’s some basic groundwork to help you easily create and maintain your facility’s site.

Do Your Research

If you want your website to include search engine optimization (SEO) and perform well for users, it’s important to first research your market, competition and industry website providers. Researching takes time, but it pays off greatly when it comes to creating a valuable website that generates leads and rentals.

Your Market

Researching your market requires understanding your facility’s demographics as well as your ideal customer. Market research helps you get the full scope of your prospects’ opinions, values and beliefs. It should answer these basic questions:

  • Who are your customers? Find out your average customer’s age, gender, occupation, income, lifestyle, educational attainment, household size and more.
  • What do your customers already buy? Find out what they’re already purchasing and their shopping habits. If your customers are avid online shoppers, this makes it a no-brainer for your business to offer online rentals.

To find the answers to these questions, use online market-research tools and information from your local chamber of commerce, university or college; or try a business-directory database. Your goal is to fully understand who your customers are as individuals as well as their needs and wants. Use the data you gather to make predictions and plan your website strategy.

Your Competition

By keeping a close eye on your competition, you’ll be able to plan an online strategy that helps you retain current customers and win new ones. A simple Google search is great place to start. Just type “self-storage” and your town’s name into the search box and see what’s out there. What makes the No. 1 result stand out from the rest? Which self-storage business has the most positive reviews in your area?

Next, check out your competitors’ social media pages. Often, tech-savvy businesses will have an active presence on social platforms, since Facebook is almost as popular as Google when it comes finding local businesses and information.

Don’t be afraid to ask around or mystery shop. If your customers have used self-storage before, ask where they rented previously and why they chose you this time. Explore the customer experience of using a competitor’s website and uncover the pain points. For example, if the website is slow to load or doesn’t work on mobile devices, this presents an opportunity for your business to win those mobile customers.

Website Providers

Just because your nephew has a degree in graphic design doesn’t mean he should build your website. In fact, the most cost-effective, high-performing self-storage websites are created by people in the industry who understand the unique needs of the business and can tailor your site to your storage consumer.

The website will need to work with your management software to offer seamless integration with unit prices and availability. This can be tricky if you’re working with a Web designer who doesn’t understand the storage industry.

Remember, you don’t want a high-maintenance website that requires you to update it manually whenever availability or rates change in your software. Find a Web-development company that offers software integration along with a variety of storage-specific website features, such as the ability to track online leads and accept online payments.

Set Goals

Now that you’ve done your research and know your customers, competitors and providers, you’re ready to set goals for your website. Common objectives for storage businesses are:

  • To rank on the first page of search results for self-storage in your town
  • To be optimized on mobile devices
  • To provide online rental options to new customers
  • To provide online payment and account-management options to existing customers

Your goals will depend entirely on your unique market, business strategy and budget. By having clear goals, you’ll be able to define exactly which features you need and which you can skip to save money.

Work With Professionals

From your research, you’ve probably narrowed down the Web-development companies that best align with your goals. Once you contact them, they’ll need to know the details of your business to create a website catered to you. Be prepared to answer questions about your market, goals, budget and current website (if you have one). You’ll also want to provide facility information, including address, hours and amenities.

Turnaround should be fairly quick. Most companies can provide a live, working website within two to three weeks. They should also offer support tools and answer any questions to make the process easy for you.

Track Performance

Tracking your website’s performance relative to your goals is part of its maintenance. Start tracking your search-engine ranking for various keywords and find out how many users are landing at your pages.

It’s easy to track using Google Analytics reports including conversion tracking, sales metrics and click stats. Check with your Web developer to see if it can provide analytics reporting or tools on your website, or you can simply set up a free Google Analytics account on your own. By tracking your site’s performance from month to month, you’ll be able to quickly adjust it as needed to reach your target market.

Plan for Maintenance

If properly maintained, your website can run smoothly and last for years. Keep in mind that, down the road, its foundation may need to be updated to adapt to changing technology, such as Google’s algorithm.

Keep your website up-to-date. Ensure your prices, images and content are always current. Because search engines see fresh content as an indicator of an active, legitimate website, your SEO will get a boost whenever it’s updated.

The most important information to manage is your business NAP (name, address and phone number) as well as basics such as driving directions, hours, rates, unit sizes and availability, and retail-item availability. If this information is outdated or incorrect, you can expect your share of angry customers who couldn’t find your business or were misled about your services.

When evaluating your website content and user experience, consider this: If you were a customer about to enter your credit card on this website, would you trust it? By ensuring your website’s appearance and content are well-maintained, you’ll present your business as credible and trustworthy.

A well-designed website offers a great return on investment for your business and will help your brand be found online for years to come. With the right design partner and a little research, you can create an easy-to-maintain website that ranks at the top of search results and consistently brings in new customers.

Jana Haecherl is a marketing-content writer for storEDGE, which offers a comprehensive suite of technology solutions designed specifically for the self-storage industry. She enjoys bringing technology, Web marketing, and industry news and tips to self-storage owners and managers. For more information, call 913.954.4110; visit www.storedge.com.

Designing Self-Storage Sites for Maximum Security

Article-Designing Self-Storage Sites for Maximum Security

When it comes to designing a secure self-storage site, there are many factors to consider including building layout, office safety, gate and camera placement, lighting and more. With just a few simple design changes, you can make your facility much better protected.

Building Layout

One of the biggest factors in designing a secure site is the layout of your buildings. Placing structures around the perimeter of the property gives you better security than simple fencing. A typical fence is about 7 feet high, whereas the back of a single-story building is anywhere from 12 to 14 feet high. By putting buildings around the perimeter, you get a fortress-style layout, which means any security breaches must occur at entry and exit gates.

If you can’t design your facility in a fortress style, it’s perfectly acceptable to use fencing around the perimeter. Just remember that most municipalities don’t like barbed or concertina wire, so using that on top of a fence is out of the question in most cases. A design I use on a lot for fences and even gates is a spear-point top. The top of the picket is flattened and shaped into a pointed tip. While the point isn’t very sharp, it makes it harder to climb over and provides an intimidating look.

One facility I designed in Newark, Calif., uses a combination of buildings and fencing on the perimeter. We installed 8-foot-high masonry walls where we didn’t have a building to secure the area.

Interior Elements

There are other security-enhancing design elements that can be used inside your self-storage buildings. For example:

  • Straight hallways vs. those with corners prevent hiding places for would-be criminals.
  • If your facility has more than one floor, require customers to use their key code to access their floor. This prevents people from visiting areas that don’t apply to them.
  • Large doors with windows create a greater sense of security, as they allow people to see the building.
  • Many facilities today also have wider hallways so the area feels spacious as well as safe. A typical 5-foot-wide hall has been replaced with a 7- to 10-foot-wide hallway.

More developers are also installing a facility-wide speaker system to pipe in music and create a two-way communications system. This allows customers to call the office if they need help or feel uncomfortable in any way. At a facility I designed in Fontana, Calif., we installed an intercom system in all the buildings with interior units. Customers told the owner it was one of their favorite features of the place.

Office Safety

It’s also critical to design the management office with safety in mind. As with any business that deals with cash, robberies are a concern. While you can’t totally prevent them, you can do your best to discourage this from happening at your property.

Ensuring that robbers see they’re being recorded is a first step, so make cameras easily visible in the office. The installation of a silent alarm is another good idea, so install a few office switches. Just make sure they’re easily accessible but discrete. If you’re in a high crime area, take a cue from banks and put up glass partitions. Also, consider adding a back door that only employees can access in case they need an alternative escape route.

Gates and Cameras

Make sure your access gates are as “scary” and durable as possible. Most are tubular steel and can take quite a beating. Remember to provide mesh near the gate operator and any pedestrian-gate doorknobs. This prevents someone from simply reaching through and unlocking the gate. Consider the tragic ending of a customer who knew how to manually operate the gate after hours—when reaching through to push the button, his arm got caught, and he was killed.

Today’s cameras have high resolution and definition, even at night and in low-light conditions. It’s important to have several placed around the property, with each camera covering two others. That way if someone tries to take out a camera, the others will record it.

All cameras should be connected to monitors in your front office. It gives customers a sense of safety when they see the action on the screen. The monitors also allow the manager to see what’s happening onsite without having to lock the office and drive around to check on things.

Lighting

Lighting is a critical element when designing a secure site. It discourages criminal activity and helps customers feel safe. LEDs are becoming the norm for exterior lighting. Although there’s a higher initial cost, they’re cheaper to run and last much longer.

Although a well-lit property is necessary, bear in mind that building codes prevent more than a half-foot candle of light to leave the site. This means you must have a focused system that provides good lighting that stays on your property and doesn’t “pollute” surrounding areas. To minimize lighting from leaving the facility, consider using wall packs mounted on the buildings.

The better the security at your self-storage facility, the safer your customers are going to feel and the more willing they will be to trust you with their belongings. If they see broken lights or minimal security, they’ll go down the road to your competitor. Site security isn’t just about adding a few cameras, it’s about a cohesive design that creates an overall sense of safety for tenants and staff.

Kenneth Carrell is the principal architect at ARE Associates in Lake Forest, Calif., an award-winning architectural firm specializing in the self-storage industry. For more information, call 949.305.4752; visit www.areassociates.com.