There’s no denying that technology has become a permanent part of the self-storage industry. There are facility websites that enable tenants to make online reservations and payments. Self-service kiosks can handle the entire reservation process from start to finish, providing customers with everything from a printed lease to a lock and gate access code. And various industry-specific software programs offer automation, a plethora of detailed reports, rental rate suggestions, and so much more. For more info, click here.
Is This the End of the Self-Storage Boom? By Ben Vestal
Over the last 12 months we have seen the formation of a new self-storage REIT (National Storage Affiliates) and the other four self-storage REITS (Public Storage, CubeSmart, Life Storage and Extra Space Storage) have all hit all-time high valuations. Like many of you, I have been watching the stock market closely and it is clear that Wall Street has started to take caution with regards to self-storage investments. The four major self-storage REITS are down on average about 15% year to date and dividend yields are moving higher as stock prices sink lower. It appears that peak valuation was sometime around the start of the second quarter for most of these companies. In this high-stakes game of musical chairs, NOW is the time to find a chair before the music stops, bringing to an end historically high real estate values and easy financing. For full Self Storage Newsletter – click here.