Self Storage Article Directory

Self Storage -- Self Storage Basics

The Self Storage Industry has consistently seen the fastest growth rate of any commercial real estate industry for the past three decades. The latest self storage statistics report that, as of the beginning of 2007 there were over 51,000 self storage facilities in the United States.

Along with the fastest growth rate comes an even more impressive growth in revenue for the self storage industry. As of 2006, the storage industry’s national average growth rate was nearly 23 billion dollars. This means that local self storage businesses averaged $441,000 in revenue per storage facility per year.

According to the Emerging Trends in Real Estate 2008 report, commercial real estate developers and investors should prepare for more uncertainty as the market and interest rates continue to be unstable. However, the annually conducted bellwether survey polled 600 US real estate executives who indicated that up and coming hotspots in commercial real estate for 2008 are expected. These hotspots should see continued growth for markets such as the Seattle, WA self storage market, the Los Angeles self storage industry, local self storage in San Francisco, Washington, D.C. self storage, San Diego local self storage and Denver, CO self storage. Along with these predicted commercial real estate hotspots, the self storage industry will still remain the most impressive commercial real estate investment, offering the most return on investment.

The fact that self storages, mini storages and public storages have saturated every major city, suburb, and a good deal of the rural regions in the US means that it is easy for storage customers to compare self storage and find the best local self storage facility in their area. Self storage customers have endless avenues for getting a free self storage quote including surfing the internet for a self storage directory, thumbing through the phone book or Yellow Pages, seeing a billboard or flyer advertising a local self storage facility and more.

The needs of local self storage customers vary with region, climate, population and other common factors. For example, local storage units in Austin, Texas may offer only climate controlled storage units to protect tenants’ items from the heat. Whereas, Basalt, Colorado local storage units would offer climate controlled units to protect renters’ items from the cold.

The demand for self storage also determines what the average storage unit size should be and how many smaller or larger unit a local self storage facility should offer. Typically, the average self storage unit is a 5x10 or 10x10, with a 5x15 storage unit being the median of those two more popular sizes.

Along with climate, other factors such as tourism can affect what kind of self storage local storage facilities offer. Napa Valley, CA has more wine storage available than is necessary for Kansas City, MO. However, local self storage facilities in the Kansas City area do offer some wine storage because wine collectors span the nation. Wine storage is has become increasingly popular in areas where vineyards and wine making are scarce because wine storage allows connoisseurs the convenience of having their favorite wine from anywhere in the world safely stored just a few minutes away.

Tourism and recreational activities such as camping or boating also determine what services are available at various local self storage sites. RV storage and boat storage are widely common across the States. As travel agencies and dealerships promote these types of recreation, families begin to see the value of investing in a boat or RV.

However, they may find that after purchasing such a large item, they don’t have a place to safely park it. Self storage facilities often have outdoor parking, covered parking or garage self storage units available. Families who may live far from a lake or river commonly use local self storage near the river or lake they most often visit.

Finding local self storage and comparing storage facilities in your area may leave you wonder what the difference between one guy and the next one may be. Typically, in the self storage industry, what you pay for is what you get.

If you are looking for a storage unit there are some terms you should know. Once you are familiar with common self storage jargon, you can determine what is most important to you and look for a local self storage facility that will meet your needs.

These are some of the most common self storage terms and characteristics that may set apart self storage facilities in your neighborhood.

• Climate Controlled Storage - This type of storage unit is designed to regulate humidity and temperature and protect items from mold or mildew. Climate controlled storage is ideal for antiques, paintings, furniture, electronics and other sensitive items. It is important to clarify what your local self storage facility classifies as climate controlled, as the features may vary from location to location. A climate controlled storage unit should never fall below freezing in the winter or above 90 degrees Fahrenheit in the summer. It’s a good idea to read the fine print of what is defined as a climate controlled unit before storing your items.
•  Access Controlled Gate - This term refers to a large gate which usually requires tenants to enter their personal access code to enter the fenced-in premises of the storage facility. Access controlled gates provide added security for tenants and keep unauthorized persons from entering the property.
• On-site Manager - A self storage facility may have an apartment or living space on the property. Typically, one or two managers (often a husband and wife) live on the storage property and manage it. This is a feature that many consider a bonus to security.
• Video Surveillance - This feature is appropriately named and easily understood. Some local storage facilities may have cameras in plain sight, which discourages would-be criminals from vandalizing or stealing. Storage businesses may also choose to use hidden video surveillance to catch unsuspecting violators in the act. Many storage facilities use a combination of both.The benefits of video surveillance allow tenants a sense of security and peace of mind while they leave their treasures under lock and key in a self storage unit.The fact that there are cameras shouldn’t be a red flag, but rather a boost in value and confidence that such a storage facility runs a respectable business.
• Anniversary Billing - This means that the date you sign the lease for your self storage unit is the date your rent will be due each month. For example, if you sign a lease agreement for a 5x10 unit on January 15th, your rent will be due on the 15th  of every month.
• First of the Month Billing - This means that your bill is due on the first of each month. If you are learning how to find local self storage, you should ask if your rent will be pro-rated for the move in if you start in the middle of a billing cycle. Likewise, will it be pro-rated when you move out.  Some storage facilities may also require the pro-rated amount plus the next full month’s rent at the time of move-in.

Billing cycles can also vary. In the United States, it is most frequent that billing cycles run on a monthly basis, resulting in 12 billing cycles each year. However, in Canada it is more common that billing cycles run on a four-week period, which results in 13 billing cycles per year.

Some states and provinces also require a tax on the monthly rent of local storage units. These are the kinds of questions you should ask when comparing storage units.

Local self storage facilities may also offer discounts beyond national advertising campaigns or corporately advertised prices. The self storage manager can help you find the best price for storage and rent a storage unit that will meet all your needs. Chances are, you’ll have at least three or four storage companies to compare in your neighborhood and a few more in the surrounding area.

The competitive self storage market will develop even more high-tech and secure self storage facilities in the future. The total market capitalization value of the complete self storage industry in the United States has soared to an astonishing 220 billion dollars.  Projections are that the self storage industry will continue to growth at record rates and exceed this forecast in the 2007 fiscal year.