Self Storage (abbreviation for "self-storage"), and also known as "mini storage") is a storage industry (such as space, lockers, containers, and/or outdoor space), also known as " storage unit "is leased to the lessee, usually in the short term (often month to month). Self-help tenants include businesses and individuals.
The independent storage industry is primarily an industry based in the United States. By 2018, it is estimated that between 44,000 and 52,000 storage facilities are currently in the United States.
Industry experts often refer to "4D life" (death, divorce, downsizing and dislocation; the second may refer to tenants who move to another area and need space to store goods until they can be transferred to a new location, duplicate) when discussing why storage space is rented.
Video Self storage
Description
Self-storage facilities rent space for short-term (often month-to-month, though options for long-term rentals are available) for individuals (usually store household items, almost all jurisdictions prohibit space used for residence) or for business excess inventory or archived records). Some facilities offer boxes, locks and packing supplies for sale to help tenants pack and store their goods, and may also offer truck rentals (or allow for free use of trucks for new tenants).
Most storage facilities offer insurance for purchases; also, the lessor may be covered by its own insurance policy (if the policy has coverage for goods stored outside the insured's premises) or may purchase insurance to protect the goods (which the facility may offer as a service through third-party carriers, and in some cases may require the lessor to buy as a condition of the lease).
The rented space is secured by the keys and keys of the tenants themselves. Unlike in warehouses, employee self-storage facilities do not have casual access to the contents of the space (and, as such, facilities are generally not responsible for theft). The self-storage facility does not own or control the contents of the room unless the lien is liable not to pay the rent, or if the unit is not locked, the facility may lock the unit until the tenant provides his own. lock.
Maps Self storage
History
Although there is historical evidence of publicly available storage in ancient China, modern self-storage facilities (where tenants have exclusive access to storage space) did not begin to emerge until the late 1960s. The first self-service chain opened in Texas.
Modern storage facilities grew slowly through the 90s, at which time demand exceeded supply and led to the rapid development of new self-storage. From 2000 to 2005, more than 3,000 new facilities are built each year in America.
Standalone storage today
By the end of 2017, a total of between 44,000 and 52,000 self-storage facilities have been developed in the United States on industrial and commercial land. There are more than 2.3 billion square feet of self-contained storage available in space in the US, or land areas equivalent to three times that of Manhattan Island under the roof. The six largest public storage operators (four REITs, and U-Haul own or operate about 18% of their own storage facilities.) The industry is worth $ 38 billion by 2018. More recently, in many metropolitan cities where competition among storage companies very tight., better plots of land near residential and commercial areas are converted into self-storage after approval by zoning panels.The company becomes more adept at making this modular storage unit, allowing operators to get up and running quickly To support the needs, businesses like PODS is expected to enter modular construction business as well.
Mail storage or on-demand storage is where the customer's goods are stored together in the warehouse rather than providing each customer with storage units.
Self-service businesses rent a variety of unit sizes to customers and residential and business tenants. Popular unit sizes (expressed in feet, with width indicated first and depth displayed both) include:
- 5x10, the size of a large wardrobe,
- 10x10, about the size of a child's bedroom (by 2015, 10x10 is the most common storage unit size, accounting for 16% of US distribution),
- 10x20, about the size of a car's garage,
- 15x20, the size of a large master bedroom, and
- 20x20, about the size of a two-car garage.
Storage units usually have no windows, fenced with corrugated metal, and can be locked by tenants. Each unit is usually accessed by opening a roll-up metal door, which is usually the same size as a car's one-car garage (smaller units can be accessed by hinged metal doors). The controlled access facility can use security guards, security cameras, individual unit door alarms and some electronic gate access means such as a keypad or proximity card. Some facilities even use biometric fingerprints or hand scanners to ensure that access is only given to those who hire. Self-storage facility operators often provide 24-hour access, climate-controlled storage, outdoor storage for RVs and boats, and electric lights or outlets inside storage units as a facility to break away from competitors. Some storage facilities have an open roof that is an unsafe wire roof, compared to a full zinc roof that provides additional security and privacy.
In rural and suburban areas most of the facilities contain many single-storey buildings with most of the drive units that have natural ventilation but are not climate controlled. These buildings are called "traditional" storage facilities. The climate-controlled interior units are becoming more popular in the suburbs. In urban areas many facilities have multi-storey buildings using elevators or freight lifts to move goods to the upper floors. These facilities are often climate controlled because they consist mostly of, if not entirely, interior units. Warehouses or grocery stores are sometimes converted into self-storage facilities. Pier loading is sometimes provided on the ground floor. Also, free roll carts or movable dolls are sometimes provided to help customers carry goods to their units. Self storage facilities in urban areas may only contain several floors in a much larger building; there is a successful self-storage business that works with manufacturing plants, office tenants and even public schools.
One in ten US households now rent an independent storage unit. The growing demand for self-storage in the US is created by people who move (about 40 million people move annually according to US Census data), and with lifestyle transitions, such as marriage, divorce, retirement, death in the family, etc. A recent survey of independent storage companies shows a positive trend in market demand and occupancy rates.
More than 54,000 self storage facilities currently exist in the US ranging from companies with national presence to companies with regional footprints or even independent "mom and pop" standalone facilities.
Demand for storage space remains stable in Q4 2015. Supply for self storage is also relatively stable. Often, the process of building a new storage building is burdensome and can take years. In addition, this particular asset class often gets a backlash from the community, because of its nature.
The self storage sector is highly fragmented, which is different from other asset classes in the industry. 80% of self storage facilities are owned by individuals or small investors.
There is confidence among investors that the self-storage industry is resistant to recession. This confidence is supported by 5.1% of total sector returns sent to investors in 2008.
Worldwide self-service
Self storage or variations on business models are now found in many parts of the world. In 2014, FEDESSA, Federation of European Self-Storage Associations, published a report on the state of independent storage industry in Europe. In this report, it is estimated there are 975 facilities in the UK, 430 in France, 264 in the Netherlands, 210 in Spain, 131 in Germany, and 112 in Sweden. No other country in Europe has more than 100 facilities. Overall, the report estimates 2,391 total facilities in Europe, or about 75 million square feet of leased storage space. This compares to more than 52,000 US facilities (236 million square feet), and 1,100 facilities in Australia (39 million square feet).
Storage auctions
In the United States, self-storage facilities may hold storage auction or sale of liens to vacate non-paying tenants in accordance with their enforcement rights outlined in the respective jurisdiction's lien law.
The facility owner is usually required to first notify the lessee of the outstanding debt, usually through certified mail or registered to the address at the facility. If the debt remains unpaid, the facility must then provide public notice of a sale or auction, generally in the general circulation papers in most states, although some states allow public notice of sales to be made on the internet. Tenants have the right to pay their outstanding bills at any time until the auction begins and thereby regain the rights to the unit and its goods; the units will be removed from the auction (which, in some cases, may result in all auctions being canceled).
Auctions/sales are open to the general public, with most buyers buying for the purpose of resale for profit. After the auction for the unit begins, the door to the unit is opened and potential bidders are allowed to view the content just by looking at the door; they may not enter, touch, or move any content before the auction. Generally, the space and contents are sold "as is, where" without warranties or implied or provided warranties, and terms of sale are only cash after auction closing. The unit buyer takes over the entire content and is responsible for removing it within a certain time frame. In some cases, the facility may allow the buyer to rent the unit and/or charge a refundable deposit for the cleaning of the unit after it has been emptied.
Certain jurisdictions require the facility owner to immediately seize controlled items such as firearms if they are in sight in a delinquent unit. Also, jurisdiction may require the buyer to submit some items (such as family photos and tax/business records) to the facility owner.
In the fall of 2010, two new television programs featuring storage auctions, Storage Wars and Auction Hunters , were released. Popularity leads to additional events like Storage Hunters , Storage Wars: Texas , and Storage WAR: New York that helps increase the visibility and interest of storage auctions. Storage Wars: Canada also debuted at Outdoor Living Network in 2013.
Self Storage Association
The Independent Storage Association has been created worldwide to support industry growth. The Association offers support in information, education, networking, referral, events, standard agreements, data collection, marketing, advocacy, and publications for current and potential potential facility, potential suppliers, managers, suppliers and potential owners.
See also
- Compulsive hoarding
- Mailstorage
- Self storage box
References
Source of the article : Wikipedia
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