StorageFront Adds Rental Capability to Online Self-Storage Directory

Aug 16, 2010

Online self-storage directory StorageFront has added the Application Programming Interface (API) to its platform, giving self-storage renters the ability to book units online and facility owners the ability to change pricing and track reservations in real time. All online-reservation deposits go to the self-storage facility at no cost.

The API service is part of the package customers get with StorageFront’s MarketPro subscription. MarketPro also includes a premium listing on the self-storage directory and the ability to track phone calls and coupons.

StorageFront teamed with self-storage software providers SMD Software (SiteLink) and QuikStor to make the API available to its customers.

Self-storage operators interested in using the API feature should e-mail [email protected] for details on setup.

Headquartered in Kansas City, Kan., StorageFront launched in 2009 to provide a Web-marketing resource to the self storage industry. A bilingual portal featuring search-by-amenity and geo-relevant sorting, StorageFront serves storage owners and renters with an advanced search engine that comprises the majority of U.S. self-storage facilities.

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Burglars Target Self-Storage Facilities in Shenandoah County, Va.

Aug 16, 2010

Three self-storage facilities in Shenandoah County, Va., have been the targets of recent burglaries.

Over a five-day span beginning July 30, 15 self-storage units at three different facilities were burglarized, according to Shenandoah County Sheriff's Capt. Tom Hodges.

Woodstock Self Storage reported the break in of four units on July 30. Only one storage tenant reported missing property—antique china valued at $750. On Aug. 3, Hawk’s Storage reported four units burglarized, but none of the victims reported anything missing. The same day, a deputy on patrol at Added Storage discovered a lock had been pried off a unit door. Seven units total were burglarized, with one containing a comic-book collection valued at about $250,000, Hodges said.

Investigators believe the burglaries could be connected because all of the units targeted had standard locks. Investigators are reviewing security footage from Hawk’s Storage, the only facility with a video surveillance system.

Source: NV News, Burglars Striking Self-Storage Units

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Sovran Self Storage Stock Continues to Outperform

Aug 16, 2010

Sovran Self Storage Inc. (SSS), which was given an Outperform rating by FBR Capital Markets on July 12, has gained $2.85 (8.3 percent) during the past month and is currently trading above its 20-day, 50-day and 200-day moving averages.

Sovran currently has an average analyst recommendation score of 2.6 and competes for investment dollars with Digital Realty Trust Inc. and Extra Space Storage Inc., two other stocks in the real estate investment trust industry that have average analyst recommendation scores of 2.1 and 2.7, respectively.

FBR is an investment bank that focuses its banking, advisory, trading and research efforts in seven broad industry sectors including consumer, diversified industrials, energy and natural resources, financial institutions, insurance, real estate and technology, and media and telecom. The company uses the following rating scale when analyzing stocks: Outperform, Mkt Perform, Underperform.

Source: Learning Markets, Sovran Self Storage Inc.'s Reaction to Its Analyst Initiation; SSS, DLR, EXR

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Universal Management Co. Distributes Self-Storage Awards of Excellence

Aug 16, 2010

Universal Management Co. (UMC), which manages approximately 40 self-storage facilities in eight states, recently distributed more than 50 Awards of Excellence to its top-performing facilities and managers for the first half of 2010.

Manager Ciara Arnold of Self Storage Depot in Bixby, Okla., received an Award of Excellence for “best auction processing.”

The company gathered employees in Atlanta on July 27 for its annual awards banquet, where company president M. Anne Ballard and vice president Norma Taylor distributed the awards.

The theme of the banquet was “You Are the Magic―Making It Happen Every Day,” including magic-themed décor and entertainment.

The Awards of Excellence are given twice annually. The next set of awards, scheduled to be given in January, will be presented online. Categories include:

Most leases signed
Lowest delinquencies
Same-store sales increase
Least percentage of fees waived
Highest merchandise sales per lease
Best auction processing
Best telephone techniques

In addition to these awards, UMC has a Service Award recognition program for employees who have been with the company for more than two years. The company awarded two 10-year and two 15-year Service Awards at the banquet. Eight of UMC’s employees have been with the company 15 years or longer.

Jointly owned and operated by Ballard and Taylor, UMC is celebrating its 17th year in the self-storage industry. Starting in 1993 with a staff of 20 and a portfolio of eight facilities, the company now has nearly 100 employees.

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Four A Self-Storage Facilities in New Jersey Add Solar-Electric Systems

Aug 16, 2010

Gates Realty Corp. is adding solar-electric systems to its headquarters in Little Ferry, N.J., and its four A Self Storage facilities in Little Ferry and Haledon, N.J.

Viron Consulting Group will design and install the systems, which will be linked to the state’s electric grid. The system features 1,840 American-made Photovoltaic (PV) panels capable of generating more than 450,000 kilowatts of electricity annually, significantly offsetting the company’s electrical demand. Financial incentives from the state and federal government will enable the project to pay for itself in two to three years.

Installation of the systems is scheduled to be completed by the end of the year. The panels are manufactured by SolarWorld.

Viron Consulting Group specializes in environmental consulting work with a key focus on the practice of sustainable design and the incorporation of renewable energy.

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Find Self-Storage Investment and Construction Advice on Self-Storage Talk and at the Inside Self-Storage World Expo

Aug 16, 2010

Whether you're building your first self-storage facility from scratch or you're acquiring a facility to add to your budding empire, making a big investment in self-storage is daunting and challenging. After the economic tumult over the past couple of years, it's tempting to sit on the sidelines and keep your money in your pocket. But the savviest self-storage investors are still getting into the game, and they're intelligently seeking out as much input as they can to succeed.

Self-Storage Talk, the official online forum for Inside Self-Storage, has an area dedicated to conversations about self-storage investment, financing, expansion, renovation and construction. A recent thread was started by someone familiar with campground investing and now he's considering breaking into self-storage. He asked a bevy of questions, aimed at industry experts.

Thankfully, a legion of self-storage consultants, owners and operators leapt to the thread-starters aid and gave feedback on cap rates, pricing units and the occupancy-profitability balance. After the responders gave their own opinions, many posted links to other resources, such as e-books and webinars, to help the thread-starter with his quest for information.

I don't think it's presumptuous to say the potential owner got what he came for when he visited SST. He may not have committed to his pending acquisition yet, but at least he knows there's a welcoming and intelligent community online that he can always reach out to if he ventures into the business. The conversation is still ongoing, too. If you have something to add, feel free to jump in. You must be a registered user, though, if you're not already. It's free to sign up and takes only a few minutes.

If you're looking to get into the self-storage industry, there's no better place to get information than the Inside Self-Storage World Expo, Sept. 29 - Oct. 1 in New Orleans. Sign up for the Developers Seminar, a workshop that includes an overview of the industry and self-storage construction. Attendees will then "build" a self-storage project in class, and run through if/then scenarios. The seminar promises to be a real learning experience for new self-storage developers. You can also attend seminars on financing, solar applications, marketing, facility management and more. Get the full agenda here.

You can also network face-to-face with all of the industrys experts you chat with on SST. Follow discussions about the expo in this designated area of the forum. We hope to see you there!

Delving Into Data Storage: Self-Storage Operators Find New Ancillary Income and Help Customers With Computer Backups

Aug 15, 2010

Data storage may sound perilous and complicated to some self-storage entrepreneurs. It’s a service few facilities offer. This article de-mystifies data storage and explains why you should consider it as an ancillary for your business. If done correctly, the service can be simple, inexpensive and a consistent money-maker with little or no risk.

Simply put, data storage is the safe-keeping of computer backup information on media such as tape or an external hard drive. All business owners should back up their computers daily, and many do. Computers hold a business’ operating and accounting system, client history, contracts, documents, spreadsheets, presentations—all vital records. This data is required to continue the operation in the case of a disaster.

There are several options for data backup and storage. The great majority of businesses use a small local area network (LAN) with two or more computers running off of a file server. The information is collected into various databases and, at the end of the day, should be copied to a backup medium. Media options include tape (the most common until recently), external hard drives or online backup services such as electronic vaulting (e-vaulting).

Unfortunately, many small-business owners are busy and become distracted by client, employee and service issues. These always take priority over an administrative task such as backing up data. Even companies with office managers sometimes run out of time. Worse, some may perform the backup process and then misplace or damage the disk. How many businesses practice an actual recovery of data similar to a fire drill? The percentages are quite low.

Here’s where your self-storage facility can become a solution to the problem. Self-storage is a natural for ancillary services such as records, wine and vehicle storage. The storage of data backup requires little expertise or added expense. As a matter of fact, you may recover your costs in as little as three months, and you’ll maintain a substantial ongoing revenue stream as long as you own the business.

E-Vaulting vs. Data-Media Vaults

There are two basic options for adding data storage to your existing self-storage business. The first is e-vaulting.This is how it works: You sell the service as an agent for an e-vaulting partner and earn an ongoing monthly commission for being the sales agent.

This may require a little expertise on your part. You may have to assist the client with installing the software and setting up parameters on his computer. This initial setup connects the client’s computer to the e-vault “server farm,” a collection of computer servers including backup servers. You may also need to train your client to use the backup software. Although e-vaulting companies provide you with all the resources and training you need, it will require a computer-savvy manager.

The second option is a better fit for most self-storage operators. It involves the purchase of a portable data-media vault. Some operators even keep two or three vaults on site. Typically about the size of a large safe, they come fitted with shelving and key-locked data-media containers, which are rented out to customers. The vaults take up a small footprint and require only a few minutes to set up. Some vault vendors even offer insurance and staff training.

To ensure security, the vault has fingerprint identification that requires the self-storage operator’s and the customer’s fingerprints to open. The storage customer receives his own containers designed to provide protected access. They’re about the size of a fishing-tackle box and can hold several backup tapes or disks.

Data-media storage fits well with self-storage because it’s a business-to-business value-added service. Companies have a new agenda in regard to disaster protection and recovery since 9/11 and the data breaches of recent years. Data-media storage can offer your tenants protection and security of recovery while giving you a stable income stream that uses minimal space. It’s a low-risk investment with potentially high profit that can be easily handled by your existing staff.

Cary F. McGovern has been in the commercial records-management industry for 32 years. He has assisted more than 500 companies in 23 countries enter and excel in this unique business. He is a member of ARMA International and PRISM International, and is a speaker at numerous industry tradeshows and conferences. To reach him, e-mail [email protected]; visit www.fileman.com.

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ISS Blog

Apathy in the Self-Storage Workplace

Aug 13, 2010

As managers, were often pulled into conversations with tenants that have nothing to do with self-storage. They turn to us to vent, discuss their lives or even ask for advice. We often hear complaints from our tenants about how their bosses dont care so why should they.

With everyone working harder to hang onto their jobs, have we each fallen into our own echo chamber where we only hear ourselves and like-minded co-workers and only believe what we want to believe?

Let me give you an example. Lets call our boss Joe. Joe asks an employee named Sam to perform a work task. Sams a detail-oriented guy who gives 110 percent. He jumps in feet first, researches, gets pricing, does market analysiswhatever he needs to do to get the job done.

Sam puts in his work hours, talks about work over dinner with his spouse, mutters about it in the shower, and spends many more hours honing his report to be the nothing less than the stellar project he wants to present to reflect his dedication.

Deadline day approaches and Sam proudly, yet humbly, presents the fruit of his labor to Joe. Joe looks at Sam either absent-mindedly or not at all, and murmurs an, Oh, yeah, thanks as he walks away. Sam lets it go for now. He knows his boss is a busy guy. After all, Joe has all the people in the company to look after, plus report to his superiors and get all of his own work done. Yes, Ill give Joe a day or two then follow up, Sam thinks.

Another crisis hits, or time passes by so quickly its now hard for Sam to ask Joe about the project he submitted. Or maybe Sam has sent an e-mail, or left a voicemail or two with no response. Sam now feels isolated, as if his efforts are for naught. Enter our unwelcome friend, Apathy.

More of our tenants are sharing stories similar to this. Hints of this have surfaced in the Self-Storage Talk forum as well. People avoid unpleasant tasks since no one will notice anyway. Right?

Take a peek around your own operation. Are you a Joe? Or maybe youre a Sam. No matter what your position, just as with our customers, to have a well-oiled, fully functional operation we need to remember that each team member has value. Do you value your co-workers or employees as much as you do your paying customers? If not, step back and rectify the situation.

Communication is the key. Determine the other persons comfort zone and step into their world. Maybe your relief manager would like to chat over a cup of coffee, while your boss may prefer getting together over a sandwich off site. Its up to you to see where you fit in and make the adjustments necessary to be a part of the outstanding team you want your business to represent.

No one enjoys feeling apathetic, and theres no satisfaction in apathy. If you need help adjusting yours or a fellow team members attitude, your peers are just a few mouse clicks away at Self-Storage Talk, waiting to help you along the path.

Self-Storage Online Directory G5 Secures $15M in Funding

Aug 13, 2010

G5, which operates an online self-storage directory, announced this week it has secured $15 million in funding. The developer of marketing software, based in Bend, Ore., will use the money for software development and marketing.

Dan Hobin started G5 five years ago with the intention of providing localized marketing for his brother’s self-storage centers. Bill Hobin is president of The William Warren Group, which operates StorQuest Self Storage. G5 also works with Metro Self Storage.

G5 operates online directories and offers marketing tools to help companies generate more Web traffic. The company serves more than 160 customers and 2,400 properties in housing, self-storage and senior living marketing sectors, and employs 80 people.

The funding was led by Volition Capital. Volition Capital's Roger Hurwitz and Sean Cantwell will join G5's board of directors.

Source: Red Herring, G5 Scores $15M to Help Local Go Global

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