SMD Software Inc., the producer of SiteLink property-management software for self-storage and portable-storage operations, released a new online training library for users of its products. Designed to match the look and feel of SiteLink Web Edition, the library allows users to navigate an icon-driven menu of webinar and video resources at SMDSoftware.com.

Users of any software often comment about the many features they dont understand or even know about. Training videos have allowed many SiteLink customers to master almost 100 percent of features in Web Edition, said Jim Ferguson, marketing manager.

SMD was established in 1996. With more than 5,000 installations worldwide, SiteLink Web Edition integrates with platforms such as smartphones, websites, listing services, INSOMNIAC self-storage kiosks, Lead Tracking Solutions and central mail providers.

The greatest companies in the world have learned how to diversify, expand their reach, and target their marketing to achieve new pinnacles of success. A great example is the Coca-Cola Co. Rather than just sticking with one productthe signature Cokethe soda king has introduced new products over the years, created targeted marketing campaigns, and delved headlong into the International markets.

While Coca-Cola is a global giant, these business goals are essentially the same in every industry. All companies seek to create a valuable product or service they can target to a unique market.

Theres no better place to learn how to accomplish this than at the Inside Self-Storage World Expo, the industrys biggest and most comprehensive tradeshow. This years fall show, Oct. 4-6 in Tacoma, Wash., will include five education tracks, four networking opportunities, four workshops and two days in the exhibit hall with more than 50 vendors offering a variety of products and services. Here are a just a few of the educational seminars that will help you diversify your business, enhance customer service and reach your target market.

Diversify

There are a number of ways operators can diversify themselves in the market, including technology such as wireless door alarms and unique locks or kiosks, extended facility hours and, of course, customer service. Another option is offering complementary services and products. Here are a few seminars highlighting add-on profit centers.

• Designing and Building Boat and RV Storage: Options and Financial Feasibility: Speaker Caesar Wright of Mako Steel Inc. will help operators determine if this niche service is right for their market. Hell discuss trends, land and building requirements, and constructions costs.
• Enhancing Your Self-Storage Facility With Portable-Storage Containers: Speakers Rod Bolls and E. George Johnson of Universal Storage Containers will demonstrate how operators can expand their facility by adding portable-storage containers. Learn about sizes, features and benefits, and how to leverage containers for maximum impact.
• Solar Self-Storage 101: Technology, Costs, Financial Incentives and More: Speakers Bob Hayworth of Baja Construction Co. and Robin Heuer of Elevated Solar will discuss solar applications in self-storage using real-life case studies. Information on incentives and tax breaks will be included.
• How to Turn Your Tenant-Insurance Program Into a Manager-Motivation Program: Speakers Harry Sleighel and Matt Schaller of Storage Property Protection will demonstrate how tenant insurance can protect customers while creating facility revenue.

Marketing

This facet of business is one of the most critical components of every facilitys success. Marketing encompasses everything from print and online promotions to your facilitys customer service.  The ISS Expo offers a variety of seminars on the topic including:  

• Power Marketing: A Mini Clinic for Self-Storage Operators: Speaker Tom Litton of Litton Property Management Inc. will lead a two-hour session covering a variety of marketing topics including outbound marketing, referrals, telephone-selling techniques and more.
• Social-Media Marketing for the Faint of Heart: Speaker Gina Six Kudo of Cochrane Road Self Storage will demonstrate how operators can use social media to interact with current customers and use it as a marketing vehicle to attract new ones.
• It's More Than Cookies and Coffee: Creating Exceptional Customer Experiences in Self-Storage: Speaker Anne Ballard of Universal Management Co.  will show attendees how to create a unique customer experience, increase referrals and lower the cost per lease.
• SEO Survivor Guide: How to Outwit, Outplay and Outlast Your Competition: Speaker Julie Purcell of Storage Asset Management Inc. will offer a basic introduction to the world of websites and search engine optimization (SEO). Attendees will learn key terms, acronyms and concepts, and find out what design elements make a website successful.

Other Must-Attend Seminars

In addition to several new sessions and speakers, this years show also includes two exclusive tracksone for self-storage owners, and another for Canadian operators and investors. The Owners Only track includes need-to-know information on cutting costs, manager compensation and staffing. In the Canadian track, attendees will get an overview of the market, including the financial scene, plus learn how to increase occupancy. Other must-attend seminars:

• Your Rental Agreement What Have You Missed? Making Important Changes for 2012 with speaker Jeffery Greenberger, partner with Greenberger, Katz & Norton LLP
• Self-Storage State of the Industry 2011: An Overview for Investors with speaker Christian Sonne, senior managing director of the Self Storage Industry Group Cushman & Wakefield
• Finding Your Pot of Gold: Real-Life Examples of Successful Self-Storage Projects with speakers Greg Moore, principal, Moore Design Associates, and Peter Schroeder, owner, Peter Schroeder Architect
• An Overview of Finance Options for Self-Storage with speaker Georgia Ragsdale, president and CEO of Best American Financial Services

You dont have to be a billion-dollar global company to make inroads in your market. Learn how to diversify your product, improve your customer service and hit your target market by attending the ISS Expo. For the complete agenda, visit www.insideselfstorageworldexpo.com.

By Anthony Domenici

Tenant insurance provides self-storage operators with an opportunity to increase sales and provide a valuable service to customers. So why do 35 percent of storage sites in Canada fail to offer this revenue-generator?

Canada facility operators have three options when it comes to tenant insurance. Lets explore the advantages and costs of each:

Insurance with rental fee. With this type of tenant insurance, the fee is rolled into the storage rental price. The cost is usually between 75 cents and $1.50 per $1,000 worth of stored goods per month, plus your facilitys administration fee. This system can be expensive and involves proactive selling to the customer.

A locker fee. The average cost of this insurance is $2 per month for up to $25,000 of coverage per locker. Your site pays this amount to the insurer charges the tenant an administration charge, putting the customers cost at about $8 per month. This product is a simple sell but is designed for secure sites, and the security at your facility will be a consideration by the insurer. Many sites have implemented this method as mandatory.

Self-insuring customers lockers. This is an interesting option. Its not insurance, its a convoluted form of offering protection. The fee collected is yours to keep, however, there are two major concerns. First, if there was a catastrophe, youre on the hook for a potentially large payout. Second, the protection, wordings and limits are usually inferior to the insured program.

The first two insurance options mentioned above are the norm, while the third is often offered by large, multi-site operators. They all represent an additional service you can provide to every customer who walks into your facility. Your insurance broker can provide a point-of-sale brochure you can give to your customers. In addition, you should highlight your tenant-insurance program on your facility website.

Insurance Costs

Your self-storage site should operate at what is called insurance neutral. For example, if your facility premiums are $5,000, you should be creating income from the sale of tenant insurance that, at a minimum, offsets this cost. In fact, selling tenant insurance should be treated as a profit center. If youre not offering an insurance option to customers, consider the following.

Q: Why would I want to get involved with the sale of insurance?

A: Because your competitors are likely offering this service to their tenants. Tenant insurance protects your business and your customers stored belongings.

Q: Our employees dont understand the coverage, so they wont discuss insurance with customers.

A: Most insurance providers will meet with your staff to review wordings, limits and exclusions. At the same time, theyll provide guidance for asking customer questions and offering solutions.

Q: This is too much work!

A: Ask your tenant-insurance provider what other sites are experiencing and how offering tenant insurance to their customers has added revenue and increased occupancy.

There are a few insurance brokers that have designed insurance programs specific to the self-storage industry. These brokers have knowledge of insurance but, more important, they understand your needs. Your site is likely a sizable asset, so choose one of the exclusive programs and deal with an insurance broker who will help build your business.

With 30 years of experience in the insurance industry, Anthony Domenici is the managing partner at Tripemco Burlington Insurance Group Ltd., an advice-based insurance brokerage that specializes in commercial insurance in Canada. He designed the Just Storage Exclusive Insurance Program. For more information, visit www.tripemco.com .

Inside Self-Storage is pleased to announce the winners of the industrys first Best of Business choice-opinion poll, in which readers voted for their favorite suppliers in 28 categories. The winners for 2011, based on verified voting through the ISS website from May 31 through June 30, are:

• Best Architectural Services : ARE Associates
• Best Builder : Mako Steel Inc. / Kiwi II Construction
• Best Building Components : BETCO Inc.
• Best Call Center : PhoneSmart
• Best Commercial Insurance : Deans & Homer
• Best Customer Service : Quikstor Security & Software
• Best Development/Consulting : The Rabco Corp.
• Best Finance Company : The BSC Group
• Best Green Practices : Capco Inc.
• Best Green Product : Baja Construction
• Best Lock : Chateau Products Inc.
• Best Management Software : SMD Software Inc. (SiteLink)
• Best Marketing Services : Michaels Wilder
• Best Online Directory : SpareFoot.com
• Best Operational Consulting : Extra Space Storage Inc.
• Best Portable-Storage Unit : Universal Storage Containers
• Best Real Estate Brokerage : Argus Self Storage Sales Network
• Best Retail Product : Supply Side USA
• Best Security System : Sentinel Systems Corp.
• Best Self-Storage Door : Janus International
• Best State Association : California Self Storage Association
• Best Tech Support : Centershift Inc.
• Best Technology Innovation : Chamberlain Access Solutions
• Best Tenant Insurance : Bader Co.
• Best Third-Party Management : United Stor-All Management
• Best Truck Rental/Leasing : On the Move Inc.
• Best Website : USstoragesearch.com
• Most Innovative Product : OpenTech Alliance Inc.

ISS would like to congratulate its esteemed winners, each of which will be featured in the November or December print edition of ISS magazine. The winners will also be honored in a ceremony at the Inside Self-Storage World Expo in Las Vegas, March 14-16, 2011. Details will be released as the event approaches.

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, bi-annual tradeshows, an extensive website, an education institute and Self-Storage Talk, the industrys largest online community.

As natural disasters go, Hurricane Irene will clock in as one of the countrys worst. The storm, which pummeled with Eastern Seaboard last weekend with wind and rain, is reported to have accounted for at least 43 deaths and knocked out power for 3 million people.

According to an article earlier this week in The Washington Post, Hurricane Irene will likely be one of the 10 costliest catastrophes in the nations history, totaling $7 billion to $10 billion. In addition, much of the damage might not be covered by insurance because it was caused not by winds but by flooding, which is excluded from most standard insurance policies. Some of the worst flooding struck Vermont, New Jersey and upstate New York.

Extra Space Storage Inc. owns or operates nearly 300 facilities located along Irenes path. In the days before the storm, Extra Space Storage employees spent hours preparing for the worst. The company reviewed its safety procedures with everyone from the board of directors to individual property managers, who were also charged with boarding up properties where necessary.

On Monday, all but about 15 Extra Space Storage facilities were able to open to customers. We were pretty happy about that, said Clint Halverson, senior director of corporate communication and investor relations for Extra Space Storage, a self-storage real estate investment trust. The closed facilities were among the millions of businesses and homes without electricity. One facility, in Wayne, N.J., was not accessible as the roads leading to the property were flooded. By mid-week, the power had been restored at all but four of the facilities. Some facilities also experienced flooding, downed trees and other debris.

Universal Management Co., which oversees the operation of 34 facilities, several of which were also in the storms path, also spent much of last week putting its hurricane procedures in place.  The pieces of our overall plan are set up in sequence, based on categories of storm intensity, and are placed in effect as theyre triggered when wind speeds reach targeted levels, explained David Dixon, vice president of development for Universal Management Co. and area manager for all of the companys facilities located along the East Coast. 

When generators are activated, lobby doors and elevators are deactivated, and managers evacuate the city if winds reach above maximum safe speeds, Dixon noted. Our onsite managers, together with the plan we wrote, are quite capable in emergency situations because of the training we go through and because they are excellent first responders.

One facility in particular, located in the Virginia Beach area, was prepped for the worst-case scenario, but was spared any serious damage. We taped and boarded windows, raised boxes and computer systems high off the floors, locked down hallway doors, cleaned drains, pumped water out of the retention ponds, and evacuated the managers and their children, Dixon said. Raising water-sensitive items off the floor is an easy way to avoid some losses due to flooding, as even an inch or two of floodwater is enough to ruin a facilitys computers and box inventory. Additionally, cleaning drains and pumping water out of retention ponds are easy ways to help avoid unnecessary flooding due to increased rainfall and water run-off.

Being Prepared

Fortunately, the majority of self-storage operators emerged from Hurricane Irene relatively unscathed. Still, being prepared for any kind of natural disaster should be a top priority for every facility. Having a disaster plan in place is critical, Halverson said. With so many company membersfrom executives to property managerscommunication was critical for Extra Space Storage before, during and after the storm. One thing we tried to do this week was be in daily contact with our customers, Halverson said. Customers were e-mailed updates about any damage or flooding, and when theyd be able to access the facility. Its really important to keep the flow of information going at all levels, he added. 

All but one Extra Space Storage facility had a property manager at the facility the day after the storm, another important component of the companys emergency plan. The managers assisted customers, assessed damage at the property and maintained facility security. Everyone knew what they were responsible for and they were all prepared, Halverson said.

Matthew Van Horn, vice president of Cutting Edge Self-Storage Management, found out firsthand how critical a disaster plan can be when a tornado ripped through the small town of Joplin, Mo., on May 22. While the facility the company manages only suffered some cosmetic damage, Van Horn and the facility manager followed the companys disaster plan. Preparation and organization are the two things that will help you better handle these situations, Van Horn said.

Even self-storage operators who are not located in areas prone for natural disasters should have a detailed, written disaster plan in place, advised Randy Tipton, owner of Universal Insurance Facilities Ltd., which provides specialized insurance coverage to the self-storage industry in 49 states. Facility owners need to communicate with their staff regarding plans for evacuation, personal safety and damage assessment along with business restoration, she said. This includes backing up all electronic records and keeping a copy in a safe at an off-site location. During a storm, protecting sensitive electronics like computers and DVRs with plastic sheeting can also help keep them from getting water damage, Tipton said.

Insurance Coverage

Unfortunately, much of the damage caused by Hurricane Irene may not even be covered by tradition insurance policies, leaving many homeowners and business owners facing great loss. This recent disaster is a perfect example that not all claims are covered, Tipton said. If there is coverage, the right type of policy needs to be in place, and there isnt an insurance policy that covers all losses.

This may include power failures, which is never covered, and flood damage, an excluded coverage on most policies but one that can be purchased as a standalone policy. However, few business owners buy flood insurance even though its reasonably priced. Many business owners feel its a risk theyre willing to take because they arent located in a flood zone, Tipton said. As seen by this last storm, a property didnt need to be located in a flood zone to suffer extensive flood damage.

In addition, if the powers out, a business cant operate. And a closed business cannot generate revenue. While business-income coverage can be a critical part of a business-insurance policy, Tipton noted its only triggered if property damage to the facility causes the business interruption. Many businesses that were affected by Hurricane Irene were unable to open their doors for days due to power outage, but wont have coverage because their property was not damaged, Tipton said.

Tipton suggests business owners regularly review their insurance policies with their agent to ensure they have all the coverage they need. They should also be aware of the self-storage industrys unique insurance needs. When it comes to insurance, a facility owner is best served by an industry insurance specialist, she said.

Moving Forward

Several facilities are already reaching out to their communities, offering free storage to victims of Hurricane Irene. Before the storm, U-Haul International offered 30 days of free self-storage at 13 of its facilities. Mansfield Self & RV Storage in Mansfield, Conn., is promoting the same deal, as is Universal Management and Extra Space Storage.

Many self-storage operators in the affected areas are already seeing an increase in occupancy levelsboth before and after the storm. Halverson recalls what happened in storm-ravaged Florida just a few years ago. Historically, weve seen an increase in revenue in areas that have been hit, he said. However, while catastrophic, Hurricane Irenes impact may not be as far-reaching as that of the Florida storm. Were also in a different economic situation in this country than we were then, Halverson said. What the impact will be, we dont know yet.   

Last Friday Illinois Governor Pat Quinn signed into law the new Illinois Self Service Storage Facility Act, which includes several improvements for the states self-storage operations. The new law went into effect immediately and was signed just three days before the governors deadline to act. Senate Bill 1394 (SB1394), now published as Public Act 097-0599, passed unanimously in the House of Representatives as well as the Senate in late May.

The Illinois Self Storage Association (ISSA), with support from the national Self Storage Association and lobby firm Cook-Witter, worked diligently to see the bill passed. SB1394 was sponsored by Senator Mike Jacobs and House Majority Leader Joseph M. Lyons.

Changes effected as part of the new legislation include:

• Self-storage operators can now send lien notices by First-Class Mail with certificate of mailing instead of more expensive Certified Mail.
• Operators are no longer required to include a general description of the personal property subject to the lien in their lien-sale notices.
• The law now clearly states that no bailment or higher level of liability is established when a self-storage operator overlocks a unit belonging to a delinquent tenant.
• Though newspaper advertising is still required for lien sales, less information is required to be in those ads including the facility name, address and phone number; the date, time, location and manner of the lien sale; and the occupant's name and unit number.
• Facility operators are now able, without liability, to tow vehicles to a towing pound after rent for the vehicle space remains unpaid for at least 60 days.
• A minimum of three bidders must be present at a lien sale for it to be deemed commercially reasonable.
• The limitation of value on personal property stored in a unit is restricted to what is stated in the facilitys rental agreement.
• A reasonable late fee is considered the greater of $20 or 20 percent of the total monthly rental fee.
• The operator may charge a delinquent tenant for any additional reasonable fees incurred in the conduction of a lien sale.
• Any proceeds from a lien sale that exceed the amount owed by the tenant must be kept for only one year instead of two.

The ISSA plans to host a webinar on the full implementation of the law and what facility owners must do to make sure they comply with the new regulation. A copy of the new law can be found at www.insideselfstorage.com/lien-laws.aspx.

Safestore Holdings PLC, a U.K. self-storage operator, released operating results for the third quarter, noting an increase in total occupancy.

The companys sales grew 5.4 percent to £24.1 ($39.2 million). Overall occupancy rose 3.8 percent points to 63.2 percent, and the average self-storage rental rate was 2.9 percent higher. Safestore opened one new facility in Paris, brining the companys portfolio to 119 self-storage facilities.  

"We are pleased to report another solid quarter that demonstrates the continued underlying demand for self-storage and the benefits of our market leadership position in the United Kingdom and presence in France, said CEO Peter Gowers. Overall, we continue to perform in line with expectations and are confident that the business remains well positioned to continue to create value. However, we remain cautious about the fragile prevailing economic conditions and the potential impact on consumer confidence.

Safestore operates about 118 self-storage facilities, 23 of which are in Paris. With nearly 41,000 customers, the company employs approximately 500 people. Excluding the 12 Space Maker facilities under its management, Safestore boasts 5.2 million rentable square feet of storage, including 10 expansion pipeline stores.

U-Haul International is offering 30 days of free self-storage to victims of last weekends Hurricane Irene. The company also made storage and moving services available to residents and businesses in the path of the storm before it hit.

Families needing more information about the 30-days-free self-storage assistance program can contact the following regional offices:  

• Maryland, 800.526.2431
• Baltimore, 800.839.9396
• Metro DC, 800.843.6198
• Northern Virginia, 888.489.4674
• Harrisburg, 877.873.8666
• Brooklyn Queens, 888.510.4237
• Manhattan Bronx, 800.858.4285
• Long Island, 800.996.0500
• South Philadelphia, 888.829.7326
• North Philadelphia, 800.858.5756
• Southern New Jersey, 800.762.8199
• North New Jersey, 800.541.0134
• Central New Jersey, 866.801.3208

In addition to the 30-days-free self-storage assistance being offered, people needing boxes can take advantage of the U-Haul Take a Box, Leave a Box Program. The program enables customers to return their reusable boxes and allows others to take them as needed for free. U-Haul encourages anyone who has any type of reusable box to drop it off at the nearest U-Haul location and allow another family to reuse the box.

Established in 1945, U-Haul has 36 million square feet of storage space at nearly 1,100 owned and managed facilities throughout North America.

Many self-storage operators around the country are beginning to see occupancy levels increase, and the real estate market is also showing signs of improvement. In this article, real estate experts from the U.S. south-central region discuss leasing activity over the past 12 months, and debate whether now is a good time to sell. The contributors are:

• Bill Barnhill, Stuart LaGroue and Shannon Barnes, Omega Properties Inc., Mobile, Ala.
• Mack Browder, Crye-Leike Commercial, Memphis, Tenn.
• Bill Brownfield, MKP Self Storage, Houston
• Larry Goldman, RE/Max Best Associates, Kansas City, Mo.
• Jared Jones, Bauer & Associates, Tulsa, Okla.
• Richard Minker, CASE Commercial Real Estate, Fort Worth, Texas

In your market, how have self-storage occupancies and leasing activity held up in the major metropolitan statistical areas (MSA) over the last year?

Barnes: In Alabama and Mississippi, occupancies for the last 12 months have been generally steady with typical seasonal variations. Although the occupancies have been stable, many owners have been using more incentives to entice customers to rent. Now more than ever, its important to focus attention on marketing and management to maximize revenue. Nows the time, with competition being so intense, when one needs to be proactive in managing self-storage.

Browder: Many markets in Tennessee are overbuilt, and occupancies are well below the levels seen a few years ago. I expect a gradual uptick in leasing activity and occupancies over the next six months, depending on the overall job outlook in the state.

Brownfield: Occupancies have increased nicely since bottoming out in late 2009, probably up a total of 5 percent or so in Central and South Texas. Local economies in Austin, Houston and San Antonio are growing, albeit slowly. Corpus Christi and Brownsville-Harlingen seem to be moving sideways to slightly positive. That trend could reverse, though, if the national economy weakens to the point of entering a second recession. That will drive occupancies down again, even in Texas.

Goldman: For the most part, leasing has improved dramatically in most markets in Arkansas over the last year. This trend will continue through 2011.

Jones: Overall, occupancy rates in Tulsa, Okla., decreased 2.3 percent to 84.2 percent in 2010. Several owners we spoke with indicated rates have been stable this year, while others mentioned 2011 is experiencing minor growth in leasing activity after being flat for 2010. In Oklahoma City, most owners have seen slight decreases in occupancies and rates over the last year and expect seasonal decreases for the remainder of 2011.

Minker: Markets throughout north Texas are holding up well. While occupancy that was driven by the new home market has fallen, those renters are being replaced by renters who are victims of today's economy. For the next 12 to 18 months, the feeling is self-storage occupancy will continue to be stabilized and, in many instances, will firm up even more.

As investors re-enter the acquisitions market, should potential sellers consider holding off for a while longer or is now a good time to sell?

Browder: In Tennessee, were seeing many owners who have an unrealistic idea of what their property is worth in todays market. Many owners of single-location, non-metropolitan properties with less than 350 units have been unable to maintain occupancies above 70 percent. Their actual profitability is well off projections. However, they still expect to sell at capitalization (cap) rates comparable to sales of properties in dense population markets with high barriers to entry.

Brownfield: Timing the market is tough, whether its real estate or stocks, so the only honest advice I can give is to sell before you need to, when the timing seems right from a financial or family-planning perspective. Your decisions will be sounder if you follow that maxim. Buyers always ask Why is the owner selling? because they want to gauge a sellers motivation, probing for weakness, and they will offer less if they sense a need to sell.

Management is a key. If the current owner/managers do not have an achievable plan to increase occupancy and profitability, they might as well sell now and take advantage of the increasing number of buyers in the market.

Goldman: In general, weve seen facility performance improve over the past couple of years in Arkansas, and interest rates are still low. There are still some very motivated sellers out there, which is critical.

Jones: Nows a great time to sell, especially for an owner with a stabilized, quality property. Theres a large amount of money on the sidelines for class-A product, and buyers will pay sub-8 percent cap rates on actual and trailing income for these properties. In the rural Oklahoma market, theres activity on property priced competitively to sell; for example properties priced with 10-percent-plus cap rates on trailing 12-month income. One of the challenges with rural markets is getting financing as it tends to originate on a local level.

LaGroue: Since both large and small investors have re-entered the acquisitions market, nows definitely a good time to consider selling. For the most part, investors are looking for two specific property types, the first being well-located, class-A facilities in primary markets. The other is distressed facilities that are struggling but could be turned around, offering plenty of upside potential for a new owner. Theres also demand for facilities that dont necessarily fit into those two categories.

In most all cases, except distressed situations, potential buyers regardless of size are going to look at the trailing 12-month income, and incorporate adjusted expenses for the new owner using a cap rate indicative of that particular market. Since cap rates are still relatively low and buyers are out there, nows as good a time as ever to sell.

Minker: If an owner is considering selling, nows as good a time as any in the north Texas market. In spite of the overall economy, occupancies are holding up well. Cap rates are becoming more attractive with the passage of time. Theres a good bit of money chasing limited investment opportunities, so well-developed and occupied facilities are bringing a premium compared to the rest of the market in today's terms. At the same time, capital is beginning to loosen up. For those who qualify, there can be money out there to purchase quality facilities.

Ben Vestal is president of the Argus Self Storage Sales Network, a national network of real estate brokers who specialize in self-storage. Argus provides brokerage, consulting and marketing services to self storage buyers and sellers and operates SelfStorage.com, a marketing medium and information resource for facility owners. For more information, call 800.55.STORE; e-mail bvestal@argus-realestate.com .