Inside Self-Storage is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Self-Storage Finance Advisor The BSC Group Welcomes Industry Veteran Brian M. Walsh

Article-Self-Storage Finance Advisor The BSC Group Welcomes Industry Veteran Brian M. Walsh

The BSC Group LLC, a commercial real estate financing advisor and provider of debt and equity capital solutions for commercial property owners including self-storage, announced industry veteran Brian M. Walsh has joined the firm as senior vice president. His primary focus will be the Chicagoland area.

Brian Walsh***We are delighted to have Brian join the BSC team, said BSC Principal Devin Huber. With more than 25 years experience delivering innovative solutions in all types of commercial real estate situations, his vast knowledge is an asset to The BSC Group and its clients.

Over the course of his career, Walsh has closed more than $1 billion of senior debt in 23 states, with vast experience in residential development. He previously served as a senior level loan production officer at BMO Harris Bank, Wells Fargo and US Bank. He also spent five years advising lenders in their efforts to manage and resolve non-performing loan portfolios. Walsh has worked with the FDIC, providing valuable insight into governments role in the lending industry.

Brians recent expertise in troubled asset acquisition and consulting to turnaround situations makes him a valuable part of the BSC team, explained Shawn Hill, BSC principal. His extensive experience in the retail, multifamily, office and industrial segments brings expanded breadth to our firm. We are pleased to add him to our strong stable of brokers.

Formed in 2009, The BSC Group LLC offers financial and loan advisory, mortgage brokerage and loan-workout solutions to commercial real estate property owners and investors, with a special emphasis on the self-storage market. Through its capital source network, The BSC Group provides clients with access to debt and equity financing for commercial real estate investments nationwide.

ISS Blog

Protecting Your Self-Storage Business: A Full-Time Job

Article-Protecting Your Self-Storage Business: A Full-Time Job

This week, my son is graduating from high school. Of course, this is a huge life-changing event for himand for me. For the past 18 years, its been my job to protect him in all ways a parent does. These days, I struggle with the fine line between overprotection and learning to let go. In business terms, its your basic transferring risk. While Ill always be his mom, his decisionsgood and badalong with their consequences and rewards are now being transferred solely to him.

Its amusing irony to me that ISS also wrapped its annual business protection issue this week. While not a flesh-and-blood child, many self-storage owners think of their facility as their own baby. Protecting itjust as a parent wouldis a huge priority. There are many facets to protecting a self-storage business. In addition to hiring top employees to ensure daily operations are successful, self-storage owners also need to consider the security of their site, maintenance of buildings and components, and ensure the business attracts tenants through quality marketing.

Operators also must have the right insurance coverages, and shield the businessand themselvesfrom litigation. The July print edition, coming your way in just a few weeks, is loaded with articles on topics such as lien sales, rental agreements, vital insurance coverages and other subjects. 

In the meantime, youll find dozens of other resources on business protection on the ISS website and through the new ISS Store, www.insideselfstoragestore.com. Here are a few you should definitely check out: 

Legal Learning Webinar - Self-Storage Lien Sales: Do Them Right or Pay the Price

This webinar focuses on one of the most important aspects of protecting your businessthe lien sale. Just as the title suggests, if you arent conducting your facilitys lien sales correctly, you could end up facing a lawsuit.

Risk Management in Self-Storage: Using Tenant Insurance to Minimize Expenses and Maximize Profitability  

If youre not offering tenant insurance to every one of your renters, youre not really protecting their best interestsor yours. These tenant programs are easy to put in place and can even become an extra revenue stream for your business.

ISS Topics Pages: Legal, Insurance, Management and Security

Each of these pages is loaded with articles, blogs and even some important news items on select topics, all of which are critical components to protecting your self-storage business.

Lien Law Registry

This is where youll find the most up-to-date lien-law documentation for each state. Its imperative you understand and abide your states statutes.

Dont wait until a fire destroys units before you learn about your insurance coverage, or a lien sale goes horribly wrong and you land in a courthouse. The best way to protect your business every day is through knowledge. Get in touch with your attorney and have your rental agreement reviewed. Talk to your insurance agent. Take a walk around your property and look for any riskspotential liabilities, security breaches, tenants storing things they shouldnt, or any other possible threats. A few hours each week ensuring your business is protected could save you from a lawsuit or a devastating loss. 

Inside Self-Storage Partners With Rental Storage Association of Japan

Article-Inside Self-Storage Partners With Rental Storage Association of Japan

Inside Self-Storage (ISS) has formed a contractual partnership with the Rental Storage Association (RSA) of Japan. The partnership includes collaboration on ISS tradeshows and publications as well as general professional support for both entities.

As part of the agreement, the 2013 Inside Self-Storage World Expo, April 3-5 at the Paris Hotel & Resort in Las Vegas, will feature an education session discussing the nature of self-storage in Japan. Though the presenter has not yet been determined, RSA Managing Director Tatsuya Saji and other association representatives plan to attend the conference. The session will be delivered in Japanese and translated into English. Language availability for sessions will be listed in the education agenda.

"We are honored to forge a relationship with the Japanese association, said Troy Bix, publisher of ISS. This partnership is a huge step in our goal to grow our connection with the international self-storage audience.

The RSA officially registered with the Japanese government on Oct. 28, 2010. According to the organization's website, it is the only self-storage association endorsed by Japan's Ministry of Land, Infrastructure and Transportation. More information is available in English and Japanese at www.rentalspace.org.

Held each spring, the ISS Expo is the largest event in the self-storage industry. It attracts thousands of participants, including attendees and exhibitors. The education program includes seminars, workshops, product and service exhibits, and peer-to-peer networking events.

For more than 20 years, ISS has provided informational resources to self-storage owners, managers, developers and investors. Its educational offerings include a monthly magazine, annual tradeshows, an extensive website, an education institute, an online store and Self-Storage Talk, the industrys largest online community.

Horror Film 'Self-Storage' to Begin Filming in July

Article-Horror Film 'Self-Storage' to Begin Filming in July

"Self-Storage," a horror movie by the Woodhaven Production Co. and Verdi Productions, is now in pre-production with filming set to begin in July in East Greenwich, R.I. The film will be produced by Chad A. Verdi, Gino Pereira and Tom DeNucci, with DeNucci directing and Michelle Verdi supervising the music.

"Self-Storage" tells the story of Jake, the night watchman at a highly-secured self-storage facility. His friends are home from college and looking to party, so Jake invites them to work to indulge in a night of sex, drugs, and rock and roll. However, the characters find themselves trapped in an evening of pure terror. The working tagline is "Barbed-wire fences are meant to keep people OUT. But these fences keep people IN."

Woodhaven and Verdi also produced the popular slasher movie "Inkubus," which is currently available as video on demand. The film premiered in movie theatres last Halloween and went to DVD on Feb 21. The companies' second joint effort, "Infected," is finished with production and will premiere this Halloween. "Self-Storage" is Woodhaven and Verdi's third endeavor. A release date for "Self Storage" hasn't been set.

This latest film featuring the industry isn't the first. A 2002 movie starring Rainn Wilson (Dwight from "The Office") and called "Self Storage" (without the hyphen) tells the story of a man who is set up by his wife and wife's lover to become trapped in a storage unit.

Sources:

ISS Blog

Crazy Tuesday Is Coming! Is Your Self-Storage Facility Prepared?

Article-Crazy Tuesday Is Coming! Is Your Self-Storage Facility Prepared?

By Tron Jordheim

The day after Memorial Day has been dubbed Crazy Tuesday in the self-storage industry. Its the storage equivalent of Black Friday. People are moving over Memorial Day weekend, students are leaving colleges and universities, and others are doing spring cleaning. For whatever reason, all of these people want to look for a storage unit on Crazy Tuesday.

Memorial Day weekend is big for truck rental and moving companies, too. It represents the start of their busy season and it starts with a big bang. On Crazy Tuesday in 2011, StorageMart had its busiest day for website visits, and PhoneSmart had its busiest day of the year for phone calls. With the way call volume is already building and since Memorial Day falls pretty late in the month, expect Crazy Tuesday to come in alike a blast.

Here are some things self-storage operators can do to get ready:   

  • Schedule heavy for the whole week and weekend after Memorial Day. Get extra people on site to help with the traffic.
  • Offer special deals to people who move in the week before Memorial Day to spread out some of the traffic. Plus, this ensures these potential tenants dont rent somewhere else if youre too busy to handle their lease during Memorial Day weekend or on Crazy Tuesday.
  • Clean out and prepare more units than you think youll need. If you get really busy you wont have time to stop and prepare more units for rental.
  • Put a smile on your face. Just because youll feel busier than a busy bee, dont let your customers know youre stressing out.
  • Enjoy the business. Youll be glad for the occupancy and the revenue.

Tron Jordheim is the director of PhoneSmart, an off-site sales force serving self-storage owners for more than 10 years. For more information, visit www.phone-smart.info.

Maintaining a Safe Self-Storage Business: Practices for Protecting Tenants and Staff

Article-Maintaining a Safe Self-Storage Business: Practices for Protecting Tenants and Staff

Managing a self-storage facility is more than operating the office and keeping the place clean. Maintaining a successful business requires creating a safe and hazard-free environment for tenants and staff. Neglect will quickly diminish the value of an otherwise viable facility. On the other hand, a facility thats cared for and appropriately maintained will enjoy greater rental rates, a higher occupancy, happier tenants and a longer life span.

When a property is in good working condition, tenants are less likely to complain about rent increases because they can see the benefit of their dollars at work. Here are some strategies operators can use to be smart and safe, and keep equipment in good working order.

Repair or replace faulty equipment quickly. This includes cameras, gates, door closers, lights and switches, locking mechanisms, unit doors, and other items that break down. If tenants see a light bulb has been out for months or a door closer has been broken since they moved in, it devalues their opinion of your site, making them less likely to refer new business to you. They also may use it as a complaint during rent increases. Handle small maintenance items quickly before they become larger.

Lock up equipment. Keep electrical outlets, thermostats, breaker boxes, water spigots and other facility equipment covered and locked to avoid unauthorized use or potential vandalism. Keep company units closed and locked at all times and dont leave keys, locks or other company items on the golf cart.
Check elevators and HVAC units. Make it a regularly scheduled task to ensure the phone or emergency contact system in the elevators is working properly and access to fire panels, HVAC units and other important equipment are clear of debris. Dont use HVAC, elevator or electrical rooms to store company items like documents and decorations. This equipment requires proper ventilation. Without it, failure can occur and it becomes a potential fire hazard.

Keep Tenants Safe

In addition to keeping the property in working order, you must also keep your tenants safe when theyre accessing their units. Here are two important factors:

  • Door maintenance. Identify and fix unit doors that stick, have bad springs, hasps that dont close properly, missing pull ropes or rubber bottom strips that have failed. Hasps, ropes and other door components dont have the same life span as the door itself. Unit doors are your inventory. Keep them in good repair at all times. Handle a tenant complaint about a door quickly to avoid injury or accidents.
  • Check the emergency exits. Are they appropriately marked and alarmed? Ensure that the landscaping has not overgrown the outside so its clear if it needs to be used. If the alarm is monitored, do a test with the monitoring company on a regular basis.

Keep Yourself Safe

Like any business, self-storage facilities can be susceptible to theft. As most self-storage managers are alone on the property for hours at a time, personal safety measures are a must. Managers should:

  • Be smart about money handling. Dont count the cash drawer with tenants in the office. Lock the doors before you do your daily close. Be aware of your surroundings as you enter or leave the facility.
  • Know emergency procedures. When the place is on fire, there wont be time to read the manual. Know the proper emergency steps before theyre needed. When things are going bad, they tend to go bad quickly. Dont hesitate to call 911. Its always better to be safe than sorry.
  • Be smart about showing units. If youre uncomfortable with a potential customer, ask for a driver's license and leave it in the office when you show the unit. Pick up the phone and call your supervisor or another property manager and say, I am going to show a unit, Ill call you back when I am done. This alerts the customer that someone will be expecting a call back shortly.

Know Your Vulnerable Points

There are many areas in a facility that are off the beaten path of everyday management, so its important to take a detour occasionally to check these areas and ensure all is well. These include places like stairwells, blind corners and building recesses. Can your facilitys cameras be adjusted or can more be added to cover areas such as the dumpster or other vulnerable points of the property? Another idea is to add fencing, barbed wire or even thorny bushes if there are points that may be easily accessible to thieves or vandals. Stairwells should be clean and free from debris.

Operators should walk the exterior of the facility occasionally to look for signs of vandalism, graffiti, landscaping or building issues that may not be visible from within the property. Remove graffiti immediately. Consider calling the police to report graffiti incidents as it may indicate gang activity.
Do you have areas that are more slippery when it rains or ice up quickly when it is cold? Make sure you have the proper tools on hand to address those areas and post warnings to tenants. Use caution signage or tape to reduce accidents.

Keep trees trimmed, gutters clean and stay on the lookout for rodent or pest infestations. Contact a quality pest-control company to handle these issues quickly before they become a larger issue.

It Takes a Village

Set your expectations with tenants clearly at the rental. Let them know the basic rules of the facility and that youre approachable at any time if they need anything or see something questionable. Let them know you want to know if something seems amiss. Request that they be an extra set of eyes and ears for you. When tenants know youre striving to keep a safe and clean environment for everyone, theyre more inclined to help out. Let them know theyre part of the site community.

Operators should always be visible on site and talk to tenants and guests at every opportunity. Make it a point to be around when tenants are on site to say "hello" and ask if everything is OK with their unit. Whales do a maneuver called a spy hop where they pop their heads out of the water to survey their surroundings. Site managers should do the same thing. Peek in their unit to see what theyre storing. If you see something that shouldnt be there, ask them to take it with them when they leave.

Things like paint cans, propane tanks, oxygen tanks and fireworks can be hazardous. Explain this is for the safety of everyone because you never know whats in the unit on either side of theirs. Be friendly but firm and avoid a scolding tone. You want them on your side.

Facilities should also have effective signage, but dont clutter the place. Instead, place the appropriate signage where needed and leave it at that. Try to eliminate negative statements whenever possible. A sign stating, This is a smoke-free facility makes the point just as well as No smoking but in a friendlier tone.
If you see something suspicious, question it. Be on the lookout for people who access the gate at odd hours or stay for a long time without visible storage activity. They might be living in the unit. If someone is in his unit with the door rolled down, let him know he must keep the door open while inside. A closed door is a potential fire hazard and the tenant may get locked in the unit by accident. Let people know youre looking out for their safety.

If you suspect something illegal or potentially dangerous, make sure you dont approach the situation alone. Talk to your supervisor to get a fresh perspective and advice on how to handle it. Never put yourself in harms way.

Tenants will emulate your behavior. If you smoke on the property, your tenants will, too, and youll be cleaning up cigarette butts constantly. If tenants see you picking up trash, pulling weeds and cleaning up, theyll be less inclined to leave their empty fast-food wrappers  lying about. Clean up messes quickly.

Tenants will respect that you take pride in your facility. These are only a few ways to keep yourself, your tenants and your facility safe. Every facility has unique circumstances that come into play when eliminating hazards. Take some time to evaluate your facility to determine what you can do today to maintain a hazard-free zone for all.

Linnea Appleby is the owner of Lime Tree Management, a self-storage management and consulting firm in Sarasota, Fla. She has been in the storage industry since 1998, and is a frequent contributor and speaker to Inside Self-Storage magazine and expo. She can be reached at 941.350.7859; e-mail lappleby@limetreemanagement.com.

Self-Storage Facility in Gulfport, Fla., Sold for $1.1M

Article-Self-Storage Facility in Gulfport, Fla., Sold for $1.1M

The Storage House, a 23,400-square-foot self-storage facility in Gulfport, Fla., recently sold for $1.1 million. The facility was part of an operation that included facilities in Gulfport and Orlando, both of which are displayed together on StoreSafeSelfStorage.net.

Located at 1219 49th St. S., the facility sits on nearly 1 acre of land and was built in 2000. It consists of two single-story buildings with 183 units, 142 of which are climate controlled.

Michael A. Mele, a first vice president of investments and senior director of Marcus & Millichaps National Self-Storage Group, and Adam Wides, a self-storage specialist, marketed the property on behalf of the seller, a limited-liability company. Mele and Wides also represented the buyer, a private investor.

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

Sources:

Self-Storage Software Provider Centershift Receives Payment-Card Security Certification

Article-Self-Storage Software Provider Centershift Receives Payment-Card Security Certification

Centershift Inc., a provider of self-storage management software, has successfully achieved Level 1 Payment Card Industry Data Security Standards (PCI-DSS) certification. PCI-DSS certification indicates independent security auditors have affirmed that clients using the Centershifts software can process credit-card payments and information securely.

Our PCI compliance provides our clients with the assurance that we take our overall security and protection of our clients' tenants' credit card information very seriously, said Terry Bagley, president and CEO of Centershift. We have made significant investments in compliance, hardware and software solutions to meet the rigorous standards of PCI compliance."

The PCI standard is the result of a collaborative effort of the PCI Security Standards Council, whose members include American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International. The council developed the standard as an efficient approach to safeguarding sensitive data, including customers credit card, account and transaction data, and for the prevention of credit card fraud, hacking and various other security concerns. PA DSS was developed for companies that do not store cardholder data but are connected to the Internet.

Based in Salt Lake City, Centershift provides Internet-based rental-management and point-of-sale software solutions for the self-storage industry. Its clients include real estate investment trusts and ownership/management organizations of all sizes. The companys Store Enterprise and Advantage applications were designed for integration with websites, call centers, web aggregators, iPhones, centralized mail services, corporate offices and other business systems.

San Diego Self-Storage Sponsors Appearance of Basketball-Skills Troupe Harlem Ambassadors

Article-San Diego Self-Storage Sponsors Appearance of Basketball-Skills Troupe Harlem Ambassadors

Smart Self Storage of Solana Beach, Calif., part of the 19-facility San Diego Self Storage (SDSS) chain, recently sponsored an appearance by the Harlem Ambassadors, a basketball-skills troupe that provides positive messages along with sports-based entertainment. Organized by the local Rotary club, the event was held on May 5 at Canyon Crest Academy in nearby Encinitas, Calif. Proceeds benefited the programs and services of the Canyon Crest Academy Foundation and the Boys and Girls Club of San Dieguito.

"SDSS is proud to sponsor this event, which not only highlights the athletic agility and camaraderie of the Harlem Ambassadors, but also serves to educate students on the importance of giving back, which is an integral component of this evening," said Sandra Flores, SDSS advertising manager. "SDSS is committed to supporting events in the communities we serve through charitable sponsorships that inspire and reward youth for their efforts. The Harlem Ambassadors are also a large provider of entertainment to the U.S. military, a segment that SDSS supports through numerous philanthropic projects and via a rental discount to all enlisted military members."

Offering basketball entertainment featuring slam dunks, ball-handling tricks and comedy routines, the Harlem Ambassadors are a team of male and female basketball players that are drug-free and college-educated. The Ambassadors work with nonprofit and service organizations, holding Harlem Ambassadors shows as community-fundraising events.

Founded in 1972, SDSS provides self-storage in Los Angeles, Orange and San Diego counties. The company is locally owned and operated.

Sources:

California Self Storage Association Works to Educate Court Officials on Lien-Sale Matters

Article-California Self Storage Association Works to Educate Court Officials on Lien-Sale Matters

The California Self Storage Association (CSSA) will be working with the Education Division of the Judicial Council of Californias Administrative Office of the Courts (AOC) to better inform court officials about the expanded authority in self-storage lien matters provided to the state's small-claims courts. The newly granted powers are the result of amendments to the Business and Professions Code, Section 21710. The education effort will include but not be limited to training programs and educational materials for small-claims judicial officers and temporary judges.

CSSA officials contacted the Judicial Council of California on April 2 after receiving reports that many small-claims judges and commissioners in California were unaware of their expanded authority to hear self-storage lien suits. Enacted in 2010 as part of the revised Assembly Bill 655, the amendments clarify that California small-claims courts have jurisdiction over and the authority to grant judgments on contested self-storage liens.

In a letter to the CSSA dated May 4, Anne M. Ronan, an attorney with the AOC, agrees that effective Jan. 1, 2011, parties may file in small-claims court to enforce liens under the Self-Service Storage Facilities Act. Ronan states that she will work with the AOCs Education Division to make sure small-claims courts judicial officers are better educated about the changes.

When we heard from our members that they were being turned away when taking their Declaration in Opposition to Lien Sale cases to small-claims court, we knew that we had to take action, said Erin King, CSSA executive director. King added some of the courts had not yet received the communication on the legislation. We will be loading a copy of the response letter (from Ronan) into our online store so that our members can print it and take it with them to court. We recommend this letter be a part of any legal documents being taken to small-claims court.

Founded in 2002, the CSSA is dedicated to serving the California self-storage owners, operators, facility managers and vendors. The association represents more than 450 direct member companies that own and operate more than 1,200 facilities. Direct members range from individual facility owner-operators to multiple-facility operations to publicly traded real estate investment trusts.

In 2011, CSSA was the winner of the Inside Self-Storage "Best of Business" award for the self-storage association category.

Sources: