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FOUNDATION VOL. 11, NO. 6 JUNE 2012 issue $8.00 / ANNUAL $96
the official voice of the self storage industry
Where On Earth Do People Store Their Stuff?
EUROPEAN SURVIVAL CANADIAN UPRISE SSA’S GLOBAL REACH P. 8 P.14 P.22
FOUNDATION June 2012
Published for the SSA by the Self Storage Association Foundation Departments Special International Issue Viewpoint...... 4
Europe V3 2011_Layout 1 25/08/2011 14:58 Page 1 4 …Viewpoint SSA Education...... 26 SSA president Michael Scanlon says the storage industry Data Depot...... 32 needs to find common ground internationally. Legal Q & A ...... 35 …Survival Skills 8 SSA Value & Education Course . . .37 Europe’s self storage industry is bucking economic headwinds while eyeing potential. State Association News...... 47
14 …Steady As She Goes Around Self Storage...... 59 Business north of the border is doing well for American and Globe Advertisers...... 61 Canadian companies. Last Impressions...... 62 20 …SSA Forges Ties With Japan The SSA and the Rental Storage Association of Japan have agreed to work together in coming years.
22 …Foreign Affairs SSA membership director Stacey Loflin spearheads Association’s international expansion.
26 …The International Language of Storage Thanks to social media and the Internet, the storage industry is able to communicate globally.
28 …Fall Conference & Trade Show Preview Economic Summit at Forefront in Las Vegas Operators and vendors will learn how to successfully grow their businesses.
Publisher The SSA Globe is published by the Art Director Michael T. Scanlon, Jr. Self Storage Association Foundation Jan Sklennik [email protected] 1901 N. Beauregard Street, Suite 450 Alexandria, VA 22311 Staff Writers Executive Editor Phone 703.575.8000 Timothy J. Dietz Tom Comi, Tim Dietz [email protected] ©Copyright 2012 by the SSA Foundation. SSA and SSA Globe are trade- Stacey Loflin, Erin Morr marks of the Self Storage Association, Inc. D. Carlos Kaslow, Scott Zucker Advertising Sales Opinions expressed by authors and other contributors do not Contributors Tom Comi necessarily reflect those of the publisher or editors, nor do [email protected] they represent the policy or positions of the SSA. Information John Dunlap, Mark Wright contained within articles should not be construed as the Laura Williams-Tracy primary basis for legal or investment decisions. www.self storage.org Viewpoint 2012: Year of the Dragon By Michael T. Scanlon, Jr. – SSA President & CEO
The Chinese New Year is based on a 12-year cycle of animals SSA Staff that appear in the Chinese Zodiac. The Dragon is the only animal in the cycle that is “legendary.” Therefore, a Year Michael T. Scanlon Jr. President & CEO of the Dragon is considered the luckiest year in the cycle. [email protected] Recently, we received an email from China indicating interest in establishing a China Self Storage Association. Timothy J. Dietz I do not want to press our luck, but on behalf of the SSA I Sr. Vice President Communications & Gov’t Relations am pursuing this interest. Why? Because I firmly believe [email protected] that they can learn something from our experience, and we can learn some- thing from their situation. In addition, I believe that American vendor-member Mike Blackett companies can provide a wealth of tried and true products and services to the Vice President burgeoning industry in a country with more than 1.3 billion people. Operations [email protected] The self storage industry has rapidly expanded worldwide. There are more than 8,000 facilities outside the Unites States. At the outset, our magazine, SSA Derek Knights Globe, may have been named with an overly ambitious eye to the future. Little Vice President did we know eight years ago when the SSA formally launched the magazine Finance & Administration that it really would circle the globe in terms of circulation. Today, the SSA has [email protected] direct members in more than 20 nations on six continents (nothing on Antarc- Stacey Loflin tica yet). We have established working alliances with associations representing Director Canada, Europe, Latin America, Japan, Asia and Australia. (In fact, I have the Membership & Marketing distinct honor of speaking to the upcoming 2012 Australia-Asia convention [email protected] in Sydney in August.) Although economic circumstances and the business environment may differ Tom Comi Director, Advertising Sales considerably from nation to nation, and the cultural differences are quite [email protected] distinct, there are common issues within the worldwide self storage industry that tend to bring us together. Whether it’s construction, computer software, Jennifer L. Pettigrew marketing, manager training or unit mix planning, there are many industry Director, Registration, issues that easily span the oceans and overlap national boundaries. Vendor & Sponsorship Relations [email protected] At the intersection of business cultures and at the specific points where inno- vation meets a new challenge, that is where we can all learn something. Yes, Erin Morr emerging self storage nations can certainly learn from our decades of trial Director and error in the American experience, but we too can learn from others as to Learning & Social Media Networking [email protected] how their unique challenges are being overcome in the process of launching a new industry. For example, how is the industry in Japan marketing itself to Cologne Hunter a culture known for its minimalism? How is the industry in China evolving in Director a country where economic growth rates are three to four times what they are State Association Management [email protected] in the United States? Certainly the challenges of keeping up with demand for self storage in these Patricia Fratarcangelo two nations will be different from the American experience of knocking down Director State Association Management another cornfield to put up a new facility (as many did in the 1990s and early [email protected] 2000s). The challenges of limited space on the one hand in Japan and the massive population and fast-growing urbanization on the other in China will D. Carlos Kaslow, Esq. force owner/operators in those Pacific Rim powers to innovate in ways that General Counsel we never have. Therein lies a reason and an opportunity for us to learn from [email protected] the association alliances the SSA is now forming. You never know—in this Year of the Dragon, maybe we’ll get lucky and be invited to a self storage trade mission to Beijing. Want to come along? v
PAGE 4 SSA GLOBE JUNE 2012 Location: Store America LLC, Camillus, NY
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SSA Board of Directors
Patrick J. Reilly Chairman Kelly Gallacher Brenda Scarborough J.R. Clisham Vice Chairman Secretary Treasurer Terry Bagley, John Barry, Lisa Chiappetta Mitchell Danzis, Jim DiNardo, Shelley Geiler, Michael Riva, Marc M. Smith D. Carlos Kaslow, Esq., Michael T. Scanlon Jr.
SSA Foundation
S S A F
e Industry’s 501c-3 Charitable / Educational Organization
SSA Foundation Board of Governors Phyllis McArthur & Michael Nunez Co-Chairs Foy R. Cooley, Joanne Geiler, John Gilliland, Tim Hobin, Barry Hoeven, William F. Kenney, Maurice Pogoda, Robert Schoff, Marc M. Smith, Kenneth M. Woolley
Mission It shall be the Mission of the SSAF to provide timely, accurate industry information, communication and exceptional educational experiences for SSA members and owner-operators and investors across the United States and in affili- ated nations. The SSAF will sponsor an “SSA Foundation Forum,” a general session executive education program, at both national SSA conferences and conventions on topical and cutting-edge topics of interest to the industry at-large. Also, SSAF will provide information, education and training as to the SSA-adopted “Code of Ethics” and by promoting respect for the anti-trust laws of the United States and foreign nations that must be adhered to by all companies involved in this industry. The Board of the Foundation is authorized to recognize accomplishments, achievements and significant landmarks within the industry, including serving as the Nominating Body of persons to the SSA Board for annual induction into the Self Storage “Hall of Fame.” The Board of the Foundation may from time to time acknowl- edge persons both inside and outside the industry who have contributed to the betterment of the industry by way of special awards and recognitions. Also, the SSAF will make charitable contributions to worthy causes, efforts and for educational purposes on behalf of the self storage industry.
PAGE 6 SSA GLOBE JUNE 2012
Stockholm Berlin
Amsterdam Helsingborg
Survival Skills Milan Europe’s self storage industry is bucking economic headwinds while eyeing potential.
By Mark Wright
After several very difficult years of recession, Europe’s self storage landscape could be littered with out-of-busi- ness casualties and dispirited operators. It’s not. In fact, surviving this down economy has shown the resilience “The ability of potential operators to borrow money from and promise of self storage in Europe. banks has become much more difficult,” said Rodney The clouds have yet to lift, however, with banks still reluc- Walker, CBE, secretary general of the Federation of Euro- tant to lend—especially across borders—and consumers pean Self Storage Associations (FEDESSA). slow to spend. FEDESSA has 14 member associations, most of which are run by volunteers. The member nations include Belgium, The Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Norway, Spain, Sweden, Switzerland, The Netherlands and the United Kingdom.
“2011 saw a number of smaller “FEDESSA is also in direct contact with operators and companies joining the industry— potential operators in several other European countries,” more than in previous times.” explained Walker, “such as Austria, Cyprus, Estonia, Hungary, Iceland, Latvia, Poland, Portugal, Russia, and Rodney Walker Secretary General, FEDESSA Romania, most of whom are members of current national associations.” He said Ireland and The Netherlands have been affected by stagnation in their housing markets, but the Scandinavian See FEDESSA, page 10
PAGE 8 SSA GLOBE JUNE 2012
FEDESSA, from page 8 companies joining the industry—more than in previous times.” countries have not suffered so much from recession and Growing pains aside, self storage in Europe is very young thus have seen growth, particularly in Sweden. compared to the U.S. and Canada. “The industry started While Sweden is a bright spot, agrees Michael Fogelberg, here in the late 1980s, and only started to get any real CEO of SelStor AB and FEDESSA president, that country quantity of facilities 10 to 12 years ago,” Fogelberg observed. is nonetheless “struggling on the banking side. It is hard He said market penetration in the U.K., for example, is to get financing for new development.” under one-tenth of the United States.’ Germany is less, Growth, wherever it can be found in Europe, has typi- with about 80 facilities for 80 million people. Sweden is cally been in the form of conversions of existing buildings lower still, with about 80 facilities for 90 million people. versus new construction, both men said. And Poland has only one or two facilities for its popula- tion of 40 million. “Opportunities are constrained by financial “Every time we open a new facility it fills up,” said Fogelberg, markets,” said Fogelberg. “but one has to do it right.” Member Countries in “That’s the biggest issue.” He noted that while the U.S. and European markets share a FEDESSA lot of similarities, they also have their differences. For one Young but Growing thing, Americans tend to move around more. Self storage prices are higher in Europe than in the U.S., even aside Belgium Walker said that FEDESSA from currency differences. And European facilities tend estimates the total number to be located much more in cities, while America has a The Czech Republic of self storage facilities greater concentration in suburban areas. in Europe at about 1,650, Denmark with around 1,175 (or about “One has to realize Europe isn’t united,” said Fogelberg. 70-percent) of those facili- “The investment picture is more complex—you have lots Finland ties represented through of different countries with differences in their markets. FEDESSA member associa- There are financial differences, currency issues, so it’s France tions. He said SSA U.K. is tough to talk about Europe as a whole. Banks are much the largest of the European more careful. Germany associations, with approxi- “Each country has its own specific issues self storage mately 550 members out of Ireland companies have to deal with, including permitting and an estimated 815 total facili- financial issues. There are lots of hurdles and challenges. ties in the country. Italy Opportunity is there but you need to know your market.” Companies with more than Once the obstacles of getting to market are overcome, Norway eight facilities tend to domi- though, the actual self storage customer is very similar to nate the marketplace, noted his U.S. counterpart, both Walker and Fogelberg noted. Spain Walker, although indepen- “Traditionally in the U.K.—and I am sure it is true across dent mom-and-pops are Europe—70-percent of the customers by number have Sweden “strong in the U.K., impor- tant in France, Norway and See FEDESSA, page 12 Switzerland Spain, and starting to show in Germany. In the U.K., The Netherlands 36-percent of facilities are United Kingdom owned by the seven largest operators. But the mom- and-pops are probably about 90-percent of the industry by company. The “Opportunities are constrained by French market is seeing some expansion with the entry financial markets. That’s the biggest of a number of small operators.” issue.” Michael Fogelberg He identified Shurgard, Safestore, Big Yellow, Homebox, President, FEDESSA and Access as the five largest storage operators in Europe ranked by number of facilities. Despite the economic hurdles, Walker said, “2011 saw a number of smaller
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been private individuals,” said Walker. “However, during the last three years we have seen the proportion changing slightly and our latest estimate in the U.K. is that around 61-percent of the customers are private individuals, hence indicating an increasing use by businesses. “Our business customers include start-ups and those who wish to store goods to make them easily accessible for sales, travelling salespeople, conference organizers and others. The average length of stay for individuals has dropped a little to 37 weeks, and for businesses has increased a little to about 60 weeks.” Walker said the U.K. government has tentatively decided to impose a new Value Added Tax on all self storage begin- ning in October 2012. Fogelberg sees Sweden as “pretty iden- tical to the U.S. Europe V3 2011_Layout 1 25/08/2011 14:58 Page 1 market, with a commercial sector, movers, etc. The Swedish market has developed quite rapidly. Aware- ness of Shurgard is big, particularly in Stockholm where 91-percent are aware of the Shur- gard brand. That’s one of the highest levels in Europe, but they had 20 facili- ties in Stockholm. It’s possible people know the brand but might not be customers.” FEDESSA will host a combined European and UK 2012 conference and trade show September 12–13, in Budapest, Hungary, a week after the SSA (US) Fall Conference & Trade Show (September 5–7 in Las Vegas, Nevada). “SSA is pleased to be affiliated with FEDESSA and its member nations,” said SSA president and CEO Michael Scanlon. “I appreciated the chance to speak at FEDESSA’s Paris conference and value exchanges of information that help operators and vendors grow their businesses. We welcome any European owner/operators who wish to join the SSA (US) to learn about best practices and our exten- sive list of vendor products and services.” v
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JUNE 2012 SSA GLOBE PAGE 13 Steady As She Goes Business north of the border is doing well for American and Canadian companies.
By Laura Williams-Tracy
Mike Burnam, CEO of Columbia-based TKG-StorageMart and an almost 40-year veteran of the storage industry, saw opportunity in a strategic move north in 2007 when his Midwestern company bought two stores in Ontario. Just five years later, StorageMart has the largest number of stores of any Canadian competitor. “If I were to start a new business today, I’d do it in Canada,” Burnam said of the country’s welcoming atmosphere and courteous business partners. “It’s more business friendly. Yes you pay more taxes, but you get something for it— roads, police, benefits for employees. Canada is doing great, and it’s an enjoyable place to do business.” Burnam’s positive take on business in the land of the maple leaf isn’t to say that doing business there is always easy. Higher taxes, stiff competition for land, strict municipal regulations, slower lease-up rates and as yet immature laws governing liens combine to tamp down rapid growth of the industry. But Burnam and others say the stable growth pattern has made Canada’s storage industry an attractive investment. “We’re a little more slow and steady,” said Steven Scott, president of Access Storage, based in Scarborough, Ontario, and a director of the Canada Self Storage Asso- ciation. “The development process in the U.S. takes four months and here it takes a year and change. As long as you understand what you are getting into, underwrite to that and have patience, you’ll get through it.”
Accepting the Challenge
The challenge of breaking into or even expanding in the Canadian market is so great that when growth opportuni- ties present themselves they are very attractive, investors say. StorageMart purchased InStorage Real Estate Investment Trust in 2009 in a deal worth $478 million only after a misstep by the REIT. InStorage’s board of directors made a move viewed by investors as a conflict of interest, sending the stock price tumbling and leaving the REIT vulnerable to a hostile takeover bid. Ultimately, StorageMart closed the deal in a friendly buyout, gaining 62 Canadian stores,
See Canada, page 16
PAGE 14 SSA GLOBE JUNE 2012
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mostly in Ontario but with others in Quebec, Saskatch- ewan, Alberta and British Columbia. “We knew it was a great market, and we knew what you can afford to pay for self storage in Canada,” Burnam said. “Had InStorage not overpaid for its portfolio, there’s no way we would have gotten in because it’s very difficult to buy existing properties in Canada.” Canada has proved to be a steady market that continued to grow—albeit at a slow pace—when the U.S. was suffering the darkest days of the recession. Upon purchasing InStorage, Burnam said the Canadian stores implemented the approach that has made Stor- ageMart successful in the United States, focusing on net operating income and less on occupancy. As digital marketing was taking hold, CSP worked to build a digital brand by not only renting units online but positioning the company for optimum Web presence. While the U.S. commercial real estate market was in decline, rental rates in Canada were on the rise. “We purchased it at the depth of the downturn in the U.S. and it made us look very smart, but in reality we were just very lucky,” Burnam said. “We’re not so smart, but we’ve been around longer and made more mistakes than most people.” Access Storage sparked its own growth in 2011 by purchasing 14 stores in Quebec from Depotium. “We’re always looking to expand, but these assets rarely come up for sale,” Scott said. “A lot of storage in Canada tends to be owned as an investment by small operators with other successful businesses. It’s tough to motivate them to sell.” Other signs of consolidation in the industry included Edmonton-based Sentinel Self-Storage’s purchase of Apex Self Storage in British Columbia, adding three facilities.
Dealing with Growing Pains
Scott says development wasn’t as heady in Canada through the last decade, in part because of a tightly controlled banking system that makes storage loans harder to secure. “In Canada, the banks view self storage as a second class citizen when it comes to lending. We’re a small industry, so no one is focusing on us and they don’t understand us,” Scott said. “Large companies with strong balance sheets are getting financing, but entrepreneurs struggle to get financing, especially for development.” For self storage, the penurious nature of consumers means there’s always a risk of overbuilding. Construction and permitting is extended and expensive in Canada, rent-ups See Canada, page 18
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take longer and rental rates are not much higher than in the states, leaving less room for error on poorly conceived projects. Land can average $1 million an acre, tightening other margins. Then there are slower absorption rates and municipal regulations that don’t favor storage. Slower absorption of storage space in Canada is likely due in part to a slightly different consumer mindset, operators say. Canadians are generally more conservative consumers than Americans, having less need for space to store possessions. StorageMart is pursuing only one new project currently, a unique store that would offer storage on the first floor of a six-story apartment building in downtown Toronto. The project has been in planning stages for more than two years. It’s an indication of how selective developers must be in the market to ensure a profitable store. “Those most profitable are always the most difficult,” Burnam said. During the storage boom in the mid-part of last decade, Burnam said, Canadian storage developers attended the U.S. trade shows and took away ideas for bigger and better properties. The result is that some Canadian markets are overbuilt. Other markets are still underserved. “The Canadian market is at about equilibrium,” Burnam said. “In the U.S., it’s a mature industry. In Canada, it just turned 21 but it still thinks it’s younger.” With maturity comes increasing focus on legislative issues. In recent years, Scott said, CSSA has worked with provin- cial governments to increase awareness of how such issues as property taxes, lien laws and active and passive business classifications affect the industry. “One challenge is that each of the provinces has different legislation,” Scott said. “What we try to do is deal with an issue in one province and roll out that legislation to other provinces.” Of particular interest to operators is whether storage busi- nesses are taxed based on cost, which has historically been the norm. A new effort in some jurisdictions, especially in Ontario, is to assess storage businesses based on income or market value. Smaller storage businesses with fewer than five employees are also sometimes classified as passive income for owners, subjecting them to a much higher tax rate. “Small motels have had the exclusion for years, so it’s especially impor- tant to our small operators. It’s a major initiative.” With few lien laws, Canada’s storage industry remains young and is experiencing some growing pains. “We worked on these issues 25 years ago in the states and it’s just now coming to fruition in Canada,” Burnam said. “They’ve got their own mind and own way of looking at things that’s different from the U.S.” v
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SSA Globe June 2012 8.25” x 10.875” Full Bleed 4C SSA Forges Ties with Japanese Storage Association By Tim Dietz – SSA Sr. VP Communications & Government Relations
The Self Storage Association (U.S.) has entered into an built around cargo containers, a natural extension of the affiliation agreement with the recently created Rental active maritime activity in that part of the world. “Self Storage Association of Japan. The new Japanese organi- storage,” however, is the rental of real property, creating a zation was established this year because of an apparent divide in the agenda for the organizations. split in the direction of the former Japanese Self Storage As a result, self storage operators in Japan have established Association. the Rental Storage Association of Japan, to distinguish That organization had affiliated with the SSA (U.S.) in themselves from the cargo container businesses. The orga- 2010, but as membership grew, it became apparent to the nization’s chairman, Michinobu Tada, and SSA president leaders of Japan SSA that a sizeable number of the entre- and CEO Mike Scanlon signed the affiliation agreement preneurs had a different business model than classic self in April. The two organizations will share education and storage. Many “storage” businesses in the country were other content and participate in each other’s events. “The SSA’s agenda focuses exclusively on repre- senting businesses that have invested in self storage—that being the rental of property,” said Scanlon. “Our board of directors decided long ago that attempting to satisfy the interests of other types of storage was counterproductive. Our friends in the Far East have now crossed this same bridge as well, and we are happy to share our lessons learned with the burgeoning self storage industry as it looks to define itself overseas.” In addition to the Rental Storage Association of Japan, the SSA (U.S.) has international affilia- tion agreements with the Canadian Self Storage Association (CA-SSA), the Federation of Euro- pean Self Storage Associations (FEDESSA), the Latin American Self Storage Association (LASSA), and the Self Storage Association of Australasia. v
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PAGE 20 SSA GLOBE JUNE 2012 OpenTech FP SSA.qk 12/14/11 1:01 PM Page 1 Foreign Affairs SSA membership director Stacey Loflin spearheads Association’s international expansion.
By Tom Comi
SSA president and CEO Michael Stacey Loflin: We have members in and information necessary for busi- Scanlon decided early in his tenure 21 countries, reaching Asia, South nesses to grow. We are beginning the that he wanted the Association to America, Europe, the Middle East, process of translating publications have a global reach, and he ensured Africa, Australia, and of course, and forms, and we are creating an that mission would gain even more North America. international newsfeed that pertains momentum when he hired Stacey strictly to the international industry. Loflin last year. Q: Have international members Although the U.S. has undergone Loflin is the director of member attended the trade shows, and a tremendous economic slump, services at the SSA, and she brings are there plans to get them more parts of the world have not seen with her years of association expe- involved in the future? this economic setback. The SSA is rience in which she helped build exploring new revenue streams that Loflin: In recent years, we’ve seen memberships both here and abroad. will allow us to continue to change an emerging market in Central and While working at the International and update lien laws, provide legal South America. Increasingly, they Sign Association, she produced the information, education and industry have looked to the SSA for industry International Trade Mission—a news and updates via the SSA Globe. information. Brazil and Panama program that not only benefited the have been present at our industry ISA but the industry as a whole. trade shows, and visitors from Japan, Q: Can you elaborate on the types Now Scanlon has tasked Loflin with Canada and Mexico have all attended of manuals and publications we the challenge of expanding even the trade shows. In the fall, SSA will are currently producing that more on the SSA’s impressive growth have a formal affiliate agreement can be used or modified in other across the world. The SSA Globe ceremony with Rental Storage Asso- countries? caught up with her to find out how ciation of Japan, and the Self Storage Loflin: We are focused on the opera- she plans to use publications, trade Association of Australasia is bringing tions, management and training shows, online newsfeeds and other a contingency of owners and opera- manuals that the SSA currently has means to increase the Association’s tors to visit our trade show and tour in our online store. The Self Storage membership internationally and facilities here in the U.S. Operations & Training Manual will how that will benefit operators and be our first undertaking, followed by vendors domestically. Q: What is the SSA’s current plan to Security for the Self Storage Industry. draw more members internation- We feel that both of these publica- Q: Can you give us a quick rundown ally, and why is it important for the tions transcend the international on where the SSA has members Association to expand globally? dateline and would do well for our outside the United States? overseas industry members. Loflin: The SSA will begin working with international associations to Moreover, we’ve spoken with several provide education, publications U.S. operators whose tenants are 80-percent Hispanic and are now hiring bilingual facility managers. States like Florida, Texas, California and Arizona would really benefit “If you own a storage facility from these translated publications. in the U.S. and learn about Additionally, SSA will be producing international storage, there is an international newsfeed. This will potential for business devel- be a weekly e-newsletter designed opment abroad.” specifically for the international Stacey Loflin marketplace of the self storage SSA Director of industry. From financing, real estate Membership & Marketing investment, and world events that See Membership, page 24
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(STR34 - 4/12) Loflin Membership, from page 22 : The SSA is producing a series organization dedicated to the self of webinars focused on operations, storage industry. affect our industry, subscribers management and training, which receive timely updated industry will provide the education to facility Q: Many companies based in the information right at the click of managers in Central and South States do business in Canada, a mouse. It’s something new and America that owners are desper- Latin America and overseas or are compelling. We are the leaders of ately seeking. These webinars will be looking to do so. How can the SSA industry facts and trends in the U.S., in English and Spanish. In a recent expanding more in those areas so moving internationally just makes study done by the American Society benefit our vendor members here? sense. of Association Executives, compa- nies who belong to an association Loflin: The SSA recognizes that many Q have been in business far longer than of our vendor members are struggling : If I am a storage operator in the those that don’t belong. in sales with the U.S. economy. Our United States, how does it benefit plan over the next twelve months is By becoming a member of SSA, me that the SSA has an interna- to introduce our vendor members perhaps we could provide a sense tional reach? who are willing and able to do busi- of validation—a “Good House- Loflin ness abroad to the overseas market. : If you own a storage facility keeping Seal of Approval” if you We want to provide the vehicles to in the U.S. and learn about inter- will. Customers recognize the value bridge the gap between international national storage, there is potential of membership in a reputable U.S.- and U.S. businesses. If we don’t do it, for business development abroad. If based association and appreciate someone else might. The SSA strives you are a vendor, you might want to the time and investment companies to stay current and to continue to be expand your business footprint to make in joining and belonging to an other nations. the industry leader—both domesti- cally and abroad. v
Q: What can the SSA offer interna- For more information on the SSA membership program, please contact Stacey Loflin at tional operators and vendors that 703-575-8000, ext. 108. they are not currently receiving?
PAGE 24 SSA GLOBE JUNE 2012
Education The International Language of Self Storage (Graphic courtesy LASSA) By Erin Morr, Director Learning & Social Media Networking
The self storage industry is able to connect and communi- are independent warehouses, or are considered to be cate rapidly around the globe like never before, thanks to container storage firms. social media and the Internet. International communica- The Self Storage Association of Australasia represents tion is more important than ever as self storage continues more than 1,100 self storage facilities in Australia and New to grow immensely throughout the world. Zealand and over 100 in Hong Kong, Singapore, Thailand, In the U.K. alone there are approximately as many self Korea and the Middle East (via selfstorage.com.au). The storage facilities as there are McDonald’s restaurants, map on this page illustrates self storage in Latin America. according to research undertaken While today’s technologies and by comparison website Storage. social media make communicating co.uk, and that was nearly two years “Language is a vehicle—a tool—for easier than ever, Twitter, Facebook or ago. The site mentioned that in 2010 listening, for communicating, for YouTube are not enough. Self storage there were a reported 1,189 “busi- pros need specialized tools and ness operation self storage facilities” understanding, for being able to resources to succeed, regardless of compared with nearly 1,200 McDon- relate to people on their terms.” what continent they happen to be on. ald’s restaurants. This number varies —Victor C. Johnson, from the 815 facilities the SSA United NAFSA.org The ways we connect may be new, but Kingdom reports, as numerous the reasons for connecting are as old facilities may not be listed online, as business itself. As the SSA (U.S.) vision statement says, “Everything we undertake and accomplish—we do for the viability, success, and prosperity of those who have made an investment in self storage.” The SSA is here to support both national and international members in our industry. That is why the SSA has begun to work with international associations to further cross-border educational offer- Proven Results. ings that will include both English and Spanish webinars focused on operations, management and training. We National Presence. are also beginning the process of having publications and forms translated for our international or Spanish-speaking Unmatched Expertise. members. StorageChat.com, an online discussion forum powered by the SSA, offers international members a venue in which Trust the nation’s premier self storage they too can post content regarding international self brokers to help you reach your goals. storage news, advice and announcements. StorageChat. com is free to use, so even the smallest self storage opera- tors can access this valuable communication platform. Argus is proud to introduce The SSA is here to listen, understand and relate to all industry parties—to be the world’s premier not-for-profit A full service third party management solution brought to trade organization representing the best interests of the you by Argus Self Storage Sales Network and Professional self storage industry. Self Storage Management. Learn more at International affiliates of SSA (U.S.) include the Cana- www.ArgusStorageManagement.com. dian Self Storage Association, Japan Self Storage Associa- tion & Rental Storage Association (Japan), Federation of 1-800-55-STORE European Self Storage Associations, Latin American Self www.argus-selfstorage.com Storage Association, and the Self Storage Association of Australasia. v
PAGE 26 SSA GLOBE JUNE 2012 EDUCATION ANYWHERE 24-7
Superior Education
$0 Travel Expense
Ready When You Are
SSA ONLINE UNIVERSITY Anytime, Anywhere Education
The prestigious SSA Certified Self Storage Manager (CSSM©) NEW designation program is now online! Attain and Renew More Interactive, Downloadable Education To Go Certification without On-Demand Education for Owners, Managers and the Expense or Time for Travel: on Facility Management: Prospective Owners: • The online SSA Managers • Each Managers Course Online • Audio/visual recordings of the Certification Program provides module is also available individually Self Storage Legal Network live you with over 12 hours of superior in non-certification mode webcasts for owners and managers on-demand, interactive education, • View slides and hear management • Audio and slides of recent SSA including lively Managers Course topic sessions from recent SSA sessions for owners, managers Online video, with downloadable conferences and prospects manuals and self tests • Test your knowledge and receive a • As a current Certified Self transcript of your progress Storage Manager (CSSM©) candidate or renewal, enjoy one-stop shopping at SSA Online U’s Facility Management site for your required CE credits Log in and Learn: www.selfstorage.org Fall Conference & Trade Show Economic Summit Will Be at the Forefront in Las Vegas By John Dunlap
This year the SSA Fall Conference & Trade Show in Las 2. A discussion between mid-size and large operators Vegas (September 5–7, Caesars Palace) will be loaded with of operational strategies they’ve implemented over the best and brightest in the industry, ready to exchange the past 24 months that have had positive results ideas that will take your self storage business to new and why. heights. 3. An institutional investor will outline its investment For example, the popular Economic Summit returns for criteria and discuss assumptions it’s comfortable— its eighth incarnation and owner/operators won’t want to and not comfortable—with when completing its miss it. Also, a special presentation will be made of a joint return analysis. The investor will also discuss what project between the SSA and REIS—the unveiling of new it looks for in a storage partner. and comprehensive industry data. The SSA Foundation “Many small, mid-size and large operators have been frus- speaker will be Jenn Lim, CEO of Delivering Happiness, trated that their considerable efforts on the acquisition a company she and Zappos CEO Tony Hsieh co-created front haven’t resulted in greater success,” added Davies, “so in 2010 to inspire happiness in work, community and we’ll have active buyers share case studies of closed trans- everyday life. A panel discussion on the future of self actions. They will each be asked to highlight one invest- storage auctions also will take place. ment and tell us why the acquisition met their criteria and Las Vegas has always been a popular meeting spot for the what potential risks they identified for which they believe SSA Conference & Trade Shows for all the obvious reasons. they have strong mitigants.” Vegas gives conference attendees a seemingly endless array of options for enjoyment. But the true benefit for those Important New Data wise enough to come to Vegas rests in the presentations the SSA will make over those three days. The self storage industry has long needed comprehensive data collection and the SSA is going to make that happen. For Owners of All Sizes “It was an initiative that was put forward by self storage industry leaders with a goal of developing timely, accurate Take, for example, the Economic Summit. Talonvest and standardized market data for the self storage industry,” Capital Inc., through Jim Davies and Eric Snyder, will said Terry Bagley, the SSA Data Committee chairman. be putting together the speakers for the summit. Davies “They wanted the SSA’s help in identifying and selecting sees the Economic Summit as one of the most important a third-party organization that had experience, expertise aspects of every SSA Conference & Trade Show. and interest in delivering standardized industry data on “The sole focus of the Summit is to have the owners and an ongoing basis. industry professionals who pay to attend walk away “After careful consideration of a number of potential third- knowing they received a few valuable take-aways they can party options and at the suggestion of some of the self use in their business to make money, adjust their strategy storage industry leaders, we were introduced to REIS, a and grow,” said Davies. “It’s critical to have speakers and leader in the real estate sector of information aggregation panelists who not only have proven track records but and dissemination. After representatives of both the SSA love to share what they’ve learned with the audience. The and other stakeholders met with them, REIS was selected highest marks we receive from attendees are for speakers as the partner that we all felt could best meet the indus- who are willing to be candid about what’s working in their try’s goals. REIS had the experience, expertise, interest and business, what’s not working and why.” reputation to deliver comprehensive industry data now The primary topics of the Las Vegas Economic Summit and in the future.” will include: Dan Nixon, owner of Lock It Up Self Storage properties 1. How to successfully grow your company through and a former member of the SSA board, feels the informa- acquisitions and improved operations given the tion organized by REIS can prove critical to the industry. better overall fundamentals of the industry today. See Las Vegas, page 30
PAGE 28 SSA GLOBE JUNE 2012 MARK YOUR CALENDARS!
Data, data and more data! SSA / REIS Self Storage Data Project unveiled at Vegas 2012 Keynote speaker Joe Shoen, CEO and Chairman, U-Haul International, Inc. Foundation Forum speaker Jenn Lim, CEO & Chief Happiness Officer of Delivering Happiness, culture book creator and consultant at Zappos Special panel session on the Future of the Lien / Auction Sales
SSA Fall Conference & Trade Show September 5–7, 2012 Caesars Palace • Las Vegas, NV For more information, go to www.selfstorage.org Las Vegas, from page 28
“For the industry it establishes credibility,” said Nixon. “The other real estate sectors (retail, office, multi-unit, indus- trial) all spend significant resources to build their database. Wall Street and large investment groups won’t pay atten- tion to an industry that doesn’t have a reliable database. Annotated An owner like myself will carve out of the database the information available within my markets and use it for a market feasibility study. Then that data will be submitted State with my lending and capital investment packages.” Bagley feels like the data will be exciting and beneficial Lien Laws when it is unveiled in Las Vegas.
California • Colorado • Florida • Georgia “The goal is for REIS to launch their initial reporting that will include data for the previous three quarters for 30 Illinois • Louisiana • Maryland markets (and an estimated 150 submarkets) at the SSA Massachusetts • Michigan • Missouri 2012 Fall Conference and Trade Show in Las Vegas,” New Jersey • New York • North Carolina concluded Bagley. “SSA members and attendees will be able to purchase and obtain these reports at a market, Ohio • Pennsylvania • South Carolina regional or national level from REIS at that point. SSA Tennessee • Utah • Virginia • Washington members will be able to purchase the reports for local markets (and submarkets) at a discount. Additional Additional states coming – watch the website! markets (and submarkets) will be made available as REIS The Lien Laws are broken down by section expands its data collection from additional markets.” with a Conclusion, Lien Sale Checklist and Notice of Lien Letter Profitable Culture
Extensive comments provided by the Finally, SSA Foundation speaker Lim will bring a unique Self Storage Legal Network attorneys, perspective to her presentation. In 2005, she created the D. Carlos Kaslow and Scott Zucker first Culture Book for Zappos, and has produced them ever since. The book is now in its seventh edition. In 2009, Zappos was sold to Amazon.com in a deal valued at $1.2 billion on the day of closing, and in 2011, Zappos was ranked sixth on Fortune’s “100 Best Companies to Work For” list. The Culture Book has become a global symbol of how companies can successfully create cultures based on happiness and be profitable at the same time. In short, Las Vegas is shaping up to be a must-attend event—and you just might have some fun outside the conference and trade show, as well. v
Order your copies today www.selfstorage.org Member price: $25 each Affiliate Members: $30 Not-Yet-Members: $35
Bulk order pricing available. For more details, call the SSA 703.575.8000
PAGE 30 SSA GLOBE JUNE 2012
We offer more than just results. We offer experienced people you can trust and accessible information to guide your business decisions.
Give Us a Call! 2011 Managed Highlights 877-244-8799 Same-store Managed Performance www.cubesmart.com/management Net Rental Income: +5.4% Total Revenue: +4.6% NOI: +7.4% Merchandise Sales: +13.4% Expect More. CubeSmart Management. Occupancy: +5.13%
Accounting Marketing Call Center Training Revenue Management HR Legal Sales Operations DATA DEPOT The SSA and REIS, Inc. are on schedule to launch the most comprehensive self storage data study in the industry. The data To be a part of this study go to www.selfstorage. study will premier in Las Vegas at our Fall Conference & Trade Show. org or call 800-366-REIS (7347).
KEY REPORT FEATURES • Trend data—at a glance, see whether rents and occupancies have been trending up or down. For decades, Reis has been providing owners, developers, lenders and investors with trusted information about commercial real estate markets. • Climate Controlled versus Non-Climate Controlled breakouts. Now, in partnership with the Self Storage Association, Extra Space, CubeSmart, and Sovran, Reis is poised to give the self storage sector the • Local data presented alongside metro, same level of attention—and the same resulting benefits. With greater SAMPLE REPORT regional, and national data for easy transparency on conditions at the market and submarket level, self storage comparisons. professionals will have more information upon which to base their critical • View rents for the most fundamental business decisions. unit sizes: 5 x 5, 5 x 10, 10 x 10, and 10 x 20.
Data presented in this sample report is based on preliminary findings and may change. Upon release of Reis’s Self Storage coverage, the earliest data point for the first set of markets will be Q4 2011.
Reis, Inc. 530 Fifth Avenue, 5th Floor • New York, NY 10036 • T 212.921.1122 • F 212.921.2533 • www.reis.com
INTRODUCING COVERAGE OF THE SELF STORAGE SECTOR Performance Information at the Metro and Submarket Levels
For decades, Reis has been providing owners, developers, lenders and investors with trusted infor about commercial real estate markets. Now, in partnership with the Self Storage Association, Extra Space, Participating SSA members will enjoy discounted pricing on these reports from CubeSmart, and Sovran, Reis is poised to give the Self Storage sector the same level of attention—mation the same resulting benefits. With greater transparency on conditions at the market and submar Self Storage professionals will have more information upon which to base their critical business decand ket level, the source that helps shape perspectives on local markets for many of the nation’s Self Storage ect LOCATION, LOCATION, LOCATION isions. CANDIDATE MARKETS As the sample reports within this brochur Industry Data Proj FOR INITIAL PUBLICATION: leading lenders, equity investors and brokers. metro level averages can mask significante illustrate, dif in property performance from submarket ferences Reis’s preliminary findings show that duringto submarket. the first The first 30 markets will be chosen based on facility quarter of 2012, the average rent for a 5X participation rates. Your participation in Reis’ unit in Chicago was $43. But an investor considering5 storage collection program will help ensure th s data at your market facilities in the Central and Southwestern Sub will be among the first set to be released. Reis & SSA provide three ways for you to provide detailed survey information: submarkets would be better informed t urban Atlanta 5X5 units in those locations command averago know that Austin Nashville of $60 and $40, respectively. Like dat e rents Baltimore New York Norfolk/Hampton Roads and quality assurance, the mapping ofa collectionsu Boston Northern New Jersey is one of the Reis’s core competencies bmarkets Buffalo Oakland-East Bay • Send Reis all facility level information from your centralized database. self storage coverage will include approxima. Reis’s new Central New Jersey Oklahoma City tely 150 Charlotte submarkets among the first set of 30 metro mark Orange County ets. Chicago Cincinnati Orlando Cleveland Palm Beach KEY REPORT FEATURES Columbus Philadelphia • Input facility level information into a web-based input form. Dallas Phoenix • Trend Data. At a glance, see whether Denver Pittsburgh rents and occupancies have been trending Detroit Portland up or down. Fort Lauderdale Sacramento Fort Worth Salt Lake City • Climate Controlled versus Non-Climate San Antonio • Direct your facility managers to answer Reis telephone surveyors’ questions. Greensboro/Winston-Salem Controlled breakouts. Hartford San Bernardino/Riverside • Local data presented alongside metro, regional, Houston San Diego and national data for easy comparisons. Indianapolis San Francisco Kansas City San Jose • The Four Main Unit Types. View rents Las Vegas Seattle for the most fundamental unit sizes: 5X5, 5X10, Long Island St. Louis 10X10, and 10X20. Los Angeles Suburban Maryland Memphis Suburban Virginia Miami Tampa-St. Petersburg PARTICIPATE AND BENEFIT Minneapolis And more . . .
In Partnership with the Participating SSA members will enjoy dis these reports from the source that helpscounted sh pricing on Reis provides three ways for you to pro Participate today by contacting Reis at on local markets for many of the nation ape perspectives survey information: vide detailed equity investors and brokers. ’s leading lenders, • Send Reis all facility level information fro your centralized database. m For more information, contact Reis at [email protected], or by calling 800-366-REIS (7347) • Input facility level information into a Web-bas [email protected], or 800-366-REIS ( input form. ed 7347). • Direct your facility managers to answer Reis telephone surveyors’ questions. Reis, Inc. 530 Fifth Avenue, 5th Floor • New York, NY 10036 • T 212.921. 1122 • F 212.921.2533 • www.reis.com The first 30 markets will be chosen based on facility participation rates. Your participation in Reis’s data collection program will help ensure that your market will be among the first set to be released.
PAGE 32 SSA GLOBE JUNE 2012 DATA DEPOT The SSA and REIS, Inc. are on schedule to launch the most comprehensive self storage data study in the industry. The data To be a part of this study go to www.selfstorage. study will premier in Las Vegas at our Fall Conference & Trade Show. org or call 800-366-REIS (7347).
KEY REPORT FEATURES • Trend data—at a glance, see whether rents and occupancies have been trending up or down. For decades, Reis has been providing owners, developers, lenders and investors with trusted information about commercial real estate markets. • Climate Controlled versus Non-Climate Controlled breakouts. Now, in partnership with the Self Storage Association, Extra Space, CubeSmart, and Sovran, Reis is poised to give the self storage sector the • Local data presented alongside metro, same level of attention—and the same resulting benefits. With greater SAMPLE REPORT regional, and national data for easy transparency on conditions at the market and submarket level, self storage comparisons. professionals will have more information upon which to base their critical • View rents for the most fundamental business decisions. unit sizes: 5 x 5, 5 x 10, 10 x 10, and 10 x 20.
Data presented in this sample report is based on preliminary findings and may change. Upon release of Reis’s Self Storage coverage, the earliest data point for the first set of markets will be Q4 2011.
Reis, Inc. 530 Fifth Avenue, 5th Floor • New York, NY 10036 • T 212.921.1122 • F 212.921.2533 • www.reis.com
INTRODUCING COVERAGE OF THE SELF STORAGE SECTOR Performance Information at the Metro and Submarket Levels
For decades, Reis has been providing owners, developers, lenders and investors with trusted infor about commercial real estate markets. Now, in partnership with the Self Storage Association, Extra Space, Participating SSA members will enjoy discounted pricing on these reports from CubeSmart, and Sovran, Reis is poised to give the Self Storage sector the same level of attention—mation the same resulting benefits. With greater transparency on conditions at the market and submar Self Storage professionals will have more information upon which to base their critical business decand ket level, the source that helps shape perspectives on local markets for many of the nation’s Self Storage ect LOCATION, LOCATION, LOCATION isions. CANDIDATE MARKETS As the sample reports within this brochur Industry Data Proj FOR INITIAL PUBLICATION: leading lenders, equity investors and brokers. metro level averages can mask significante illustrate, dif in property performance from submarket ferences Reis’s preliminary findings show that duringto submarket. the first The first 30 markets will be chosen based on facility quarter of 2012, the average rent for a 5X participation rates. Your participation in Reis’ unit in Chicago was $43. But an investor considering5 storage collection program will help ensure th s data at your market facilities in the Central and Southwestern Sub will be among the first set to be released. Reis & SSA provide three ways for you to provide detailed survey information: submarkets would be better informed t urban Atlanta 5X5 units in those locations command averago know that Austin Nashville of $60 and $40, respectively. Like dat e rents Baltimore New York Norfolk/Hampton Roads and quality assurance, the mapping ofa collectionsu Boston Northern New Jersey is one of the Reis’s core competencies bmarkets Buffalo Oakland-East Bay • Send Reis all facility level information from your centralized database. self storage coverage will include approxima. Reis’s new Central New Jersey Oklahoma City tely 150 Charlotte submarkets among the first set of 30 metro mark Orange County ets. Chicago Cincinnati Orlando Cleveland Palm Beach KEY REPORT FEATURES Columbus Philadelphia • Input facility level information into a web-based input form. Dallas Phoenix • Trend Data. At a glance, see whether Denver Pittsburgh rents and occupancies have been trending Detroit Portland up or down. Fort Lauderdale Sacramento Fort Worth Salt Lake City • Climate Controlled versus Non-Climate San Antonio • Direct your facility managers to answer Reis telephone surveyors’ questions. Greensboro/Winston-Salem Controlled breakouts. Hartford San Bernardino/Riverside • Local data presented alongside metro, regional, Houston San Diego and national data for easy comparisons. Indianapolis San Francisco Kansas City San Jose • The Four Main Unit Types. View rents Las Vegas Seattle for the most fundamental unit sizes: 5X5, 5X10, Long Island St. Louis 10X10, and 10X20. Los Angeles Suburban Maryland Memphis Suburban Virginia Miami Tampa-St. Petersburg PARTICIPATE AND BENEFIT Minneapolis And more . . .
In Partnership with the Participating SSA members will enjoy dis these reports from the source that helpscounted sh pricing on Reis provides three ways for you to pro Participate today by contacting Reis at on local markets for many of the nation ape perspectives survey information: vide detailed equity investors and brokers. ’s leading lenders, • Send Reis all facility level information fro your centralized database. m For more information, contact Reis at [email protected], or by calling 800-366-REIS (7347) • Input facility level information into a Web-bas [email protected], or 800-366-REIS ( input form. ed 7347). • Direct your facility managers to answer Reis telephone surveyors’ questions. Reis, Inc. 530 Fifth Avenue, 5th Floor • New York, NY 10036 • T 212.921. 1122 • F 212.921.2533 • www.reis.com The first 30 markets will be chosen based on facility participation rates. Your participation in Reis’s data collection program will help ensure that your market will be among the first set to be released.
JUNE 2012 SSA GLOBE PAGE 33
The SSLN Affiliate Plan
The Self Storage Legal Network* Affiliate Plan is designed specifically for the smaller storage operator that is not a member of the national Self Storage Association but is a member in good standing of an affiliated state Self Storage Association or is a licensee or franchisee of a member of the national Self Storage Association.
The Plan is also designed for operators with one to three facilities. Pricing for this Plan Carlos Kaslow is reduced to make it affordable for smaller operators.
The SSLN service provides storage operators with access to the legal information that they need to respond to day to day circumstances that may arise at their facilities and, most importantly, gives them to tools to avoid mistakes that can lead to costly lawsuits.
The Affiliate Plan provides UNLIMITED E-mail access to the SSLN for the following annual fees: One Facility ...... $250 Two Facilities ...... $325 Three Facilities ...... $400
As an SSLN Affiliate subscriber, when you or one of your authorized employees has a question concerning self storage operations, you simply log onto the SSLN online Scott Zucker site and ask your question. The SSLN is staffed from 8:00 am to 8:00 pm Monday through Friday and will provide a response to your inquiries within two business days. The SSLN lawyers will thoroughly address your questions and there is no limit on the number of questions you can ask.
The contact information will be sent to you upon joining the SSLN.
If interested, please contact the SSA at (513) 843-6943 or visit the SSLN online at www.selfstoragelaw.com
*NOT A LAW FIRM: The Self Storage Legal Network is a legal information service and is not a law firm. The SSLN does not serve as an attorney for any Association member who subscribes, but does offer timely information on operating issues which may be experienced by its subscribers. The SSLN cannot offer advice on disputes between operators who are subscribers, nor can the SSLN represent any subscriber in a lawsuit, or engage in any communication with any person or firm with whom a subscriber may have a dispute.
“As one of the founding members of the SSA, we greatly value the Legal Network. The response is immediate with an in-depth explanation we can understand.” ~ John Yelland Yelland Properties / Pouch Self Storage ? ? QUESTIONS ? for the Self Storage Legal Network
? Each month SSLN partners Carlos Kaslow and Scott Zucker will select a question ? ? from a SSLN subscriber on an important self storage legal issue and provide their best ? advice on dealing with the problem.
Question: We have had several tenants who left significant value, the letter would state that unless the property in their unit when they vacated or who leave tenant immediately removes the property from the space property in the hallways or driveways. What do I do or confirms that he does not want the property, the tenant with this property? Can I dispose of it? will be deemed to have continued the tenancy and will be charged rent for continued occupancy of the space. If the tenant does not remove the property, confirm that it has Answer: Your question involves the recurring issue of been abandoned or pay the rent, the facility may invoke how to handle “abandoned property” discovered at the its lien rights and sell the property. facility. How you respond depends on the individual circumstances of the discovery. Each situation may If the property left behind has little or no value, the letter require a slightly different approach and we will examine would state that the facility will dispose of it unless picked them separately. up by the tenant by a stated date. Prior to disposing of the property it is very important to photograph or video it. The Property Found in a Recently Vacated Unit photographs should create a clear and detailed record of what was left in the space. The property can then be taken When you find property in a recently vacated space, you to the dumpster, donated to charity or sold at auction. The should contact the tenant and find out why the space was photos or video of the property are important evidence if not left empty and broom clean. You want to determine if there is a tenant suit claiming that the owner improperly the property was intentionally left behind or whether the disposed of valuable property. tenant intends to return to pick it up. After that conver- sation, an email or letter should be sent to the tenant Property Found in Hallways or Driveways confirming that the property has been abandoned and it will be disposed of, or that the tenant will pick up the Tenants do not have the right to leave property in halls remaining property by a specific date. The tenant should and driveways, and you have the right to keep your halls be given a short deadline by which to retrieve the property. and drives clear. When you discover property in a hall or If the tenant does not return, the property may be disposed driveway, take photographs so you have a record of what of. It is always good practice to take photos of the property was left out and where it was found. If the property is prior to disposing of it. blocking a hall or driveway, you have the right to move it to a company space without notice. However, you will The best resolution would be a written confirmation want to investigate to determine whose property was left executed by the departed tenant of his intention regarding out. The facility manager should contact the tenants that the property. For example, the tenant could execute a occupy spaces near where the property was discovered. If a form that states he has vacated the space and abandons tenant claims ownership of the property, it should be made all interest in the property left on the premises and that clear that property cannot be left in common areas and the owner may dispose of it. It is now possible, using tech- must either be put into the tenant’s space or removed from nology offered by companies like RPost.com, to send such the facility. An email or letter should be sent confirming a form by email and the tenant can execute it online with this and that the tenant must deal with the property or it a couple of mouse clicks. will be disposed of after a specific date. If the tenant does If the tenant cannot be reached by telephone, the facility not come and get his property or you cannot determine manager should send an email or letter notifying them who the owner is, the property can be disposed of after a that the property has been discovered in the vacated unit reasonable period of time (30 days). If the owner has not despite the rental agreement requirement that all property already done so, the property should be photographed be removed. If the remaining property appears to have prior to its disposition. v
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PAGE 36 SSA GLOBE JUNE 2012 Still Time to Register!
FOUNDATION
Participate. Learn. Benefit. Succeed. VALUATION & ACQUISITION COURSE June 13–15, 2012 Marriott Hotel • Marina del Rey, California INFORMATION & REGISTRATION www.selfstorage.org or contact Erin 703-575-8000 ext. 104
Executive education exclusively for owners of SSA direct and affiliate member facilities and their primary investors
All attendees will receive the customized financial modeling tool
Step up your business with this fast-paced graduate level course for self storage real estate investment and management
➤ Are you able to react quickly to ➤ Learn from actual case scenarios covering property acquisitions market changes? and dispositions, expansion analysis, request for financing, loan workouts and distressed property valuations ➤ Do you know the true market value of your assets? ➤ Learn and use multiple decision-making financial modeling tools ➤ Could you overpay for your next ➤ Gain insight from property operations discussions, including acquisition? management turn-around assets coupled with operational cost saving suggestions ➤ Do you have a presentation quality analysis available for your lender? ➤ Hands-on learning experience and best practices exchange There are so many topics covered in this comprehensive program, many previous attendees take the course again
SUMMER 2012 SSA VALUATION & ACQUISITION COURSE PRELIMINARY SCHEDULE
FINANCIAL MODELING FOR SELF STORAGE DAY ONE Wednesday, June 13 Created specifically for the SSA, the impressive course 12:30 PM – 1:00 PM Registration and Refreshments modeling tools use detailed valuation methodologies 1:00 PM – 5:00 PM 10 Practical Valuation Tools that incorporate a comprehensive array of assumptions Good Deals Gone Bad unique to the self storage business. Acquisition Case Study / Daily agenda subject to change Direct Capitalization Valuation Model 5:30 PM – 6:30 PM Reception and Networking COURSE MATERIALS: Each attendee will receive a compre- hensive set of course materials in electronic format with Excel files of dynamic, reusable financial models. DAY TWO Thursday, June 14 Accordingly, each attendee must bring a laptop computer to use at this program. (Windows format preferred) 8:00 AM – 12:00 PM Self Storage Acquisition Case Discounted Cash Flow Valuation Modeling Assessing Property Returns (group workshop) 12:00 PM – 1:00 PM Lunch 1:00 PM – 5:00 PM Financing Management Turnaround Case Study Business Plans, Acquisitions and Group Work 5:30 PM – 6:30 PM Reception and Networking
DAY THREE Friday, June 15 8:00 AM – 12:00 PM Adjusting Your Model for the “What-Ifs” Property Taxes and Appeals Question & Answer / Wrap Up 12:00 PM Adjournment
Program agenda subject to change
DO YOU REALLY THINK ONE SIZE FITS ALL? WE DON’T! Whether you are appealing real estate taxes, or valu- ing assets for refinance or acquisition, this program provides the insights and worksheets to provide that clarity. The Self Storage Association’s Valuation and Acquisition program is specifically designed to help you make sense of the deal. In a world where lenders are trying to find solid foot- ing, and it’s time to refinance or buy a property for a price that makes sense, everything is riding on your next move. When timing is everything, the clarity of your projections, anticipating the “what ifs”, and over- laying your projections with a clearly defined operat- ing plan are more critical than ever.
Don’t be an outsider on self storage valuation and operations. Sign up today! There are so many topics covered in this comprehensive program, many previous attendees take the course again SSA VALUATION & ACQUISITION COURSE Lenders are continually changing underwriting param- eters in this economic environment. Financial under- WHAT YOU WILL LEARN writing and valuation projections for self storage assets Property valuation based on sound financial modeling have never been more critical. enhances negotiations with lenders, buyers, sellers • Are you able to react quickly to market changes? and investors. The SSA Valuation & Acquisition Course • Do you know the true market value of your assets? discusses multiple valuation topics and teaches you • Could you overpay for your next acquisition? specific techniques for financial modeling using direct capitalization and discounted cash flow valuation tools. • Do you have a presentation quality analysis available for your lender? The SSA Valuation & Acquisition Course is a unique, WHAT YOU WILL TAKE AWAY graduate level real estate investment and management You’ll receive two financial modeling tools: a direct capi- course. talization worksheet and a discounted cash flow spread- sheet, created specifically for this course. These modeling In this 16-hour, 3-day course, learn how to apply deci- tools use sophisticated valuation methodologies that sion-making financial modeling techniques for potential incorporate a comprehensive array of assumptions that acquisitions or existing facilities. are unique to the self storage business. Multiple valuation techniques for financial modeling are Whether you are interested in property acquisitions, repo- discussed as are actual self storage case studies within the sitioning a property within a market, expanding a facility, framework of all cash or financed. Case scenarios apply to or reducing expenses, the SSA’s valuation tools can assist expansions, request for financing, distressed properties, you in making sound economic decisions. and buy or sell property valuations. Property operations are discussed including management turn-around assets • Learn how to make sense of today’s property values coupled with many cost saving suggestions. by replicating an actual acquisition by inputting property data into the financial models to determine the feasibility of the project WHO SHOULD ATTEND? • Understand the interrelationship between business The program is designed for experienced industry profes- plans, acquisitions, and turn around facilities through sionals, self storage owners, investors, CFOs, and other self a management plan case study storage financial executives with a working knowledge of • Exchange ideas throughout the class in an open self storage investment and management. format with students and instructors Additional registrants from the same company receive • Learn how to review, control, and negotiate property a registration discount. Please see the details on the taxes and insurance—two of the largest and least registration form. understood expenses
FACULTY Robert Francis, CPM Jeff Humphrey, ASA Bob Francis is operating partner of The Heron Group Manage- Jeff Humphrey is Senior Vice President of Asset Manage- ment and Consulting, LLC., in Kissimmee Florida. He has been ment for Devon Self Storage Holdings (US) LLC. Humphrey active in the operation and management of investment real is responsible for financial underwriting (acquisitions), risk estate for the past thirty five years. For two decades, Fran- management (insurance), financing, property tax appeals cis has specialized in the management and operation of self and dispositions. Prior to joining Devon he was director of storage facilities throughout the U.S. and Ontario, Canada. A Acquisition Audit and Property Taxes for Equitec Properties frequent columnist in industry publications, Francis is editor Company with holdings of 26 million square feet of office, of SSA’s Financial and Operational reports. An active leader in industrial, retail and apartments located in 30 states. He the industry, he is past chairman of the SSA Board of Directors has authored several articles for real estate publications. and a former trustee of the Florida Self Storage Association. Humphrey is a member of the American Society of Apprais- Francis holds the Institute of Real Estate Management Certi- ers and holds the senior appraisal designation of ASA. fied Property Manager designation and is a licensed real es- tate broker in Florida. Don’t be an outsider on self storage valuation and operations. Sign up today! Marina del Rey Marriott 4100 Admiralty Way Marina del Rey, California 90292 Call to book your room today! 310-301-3000 The Marriott is our hotel for this event. This hotel, near Venice Beach, offers new luxurious bedding with down comforters and designer duvets. The Marriott Marina del Rey accommodations and amenities ensure a comfortable and productive stay. Spacious work desks with Internet are available in every hotel room. The renovated hotel rooms offer 32" HDTVs and Plug & Play technology. Enjoy upgraded bath amenities at this Marina del Rey hotel. All guest rooms at this hotel are smoke free.
Book Your Hotel Reservation Now for an SSA Discounted Rate Only $169/night! Call the Marina del Rey Marriott at 310-301-3000 by May 19, 2012 to receive SSA’s low rate. When you call, mention your affiliation with the Self Storage Association to receive our discounted room rates. Call early—only a limited number of rooms are available at this rate.
Visit the Local Area ➤ Rent a boat and sail out on the Marina del Rey. Relax on the water and tour the scenic coast. ➤ Discover Beverly Hills and stroll down famous Rodeo Drive in search of the best fashion. ➤ Guests can enjoy a day at Santa Monica Beach, known as one of California’s top beach vacation spots.
The coastal community of Marina del Rey, California is located in the center of Los Angeles’ Westside between Venice Beach and Playa del Rey, four miles north of Los Angeles International Airport. Take advantage of this great location and visit Santa Monica, Beverly Hills, or Hollywood.
For more information: www.visitmarinadelrey.com Registration Form SSA VALUATION & ACQUISITION COURSE • June 13–15, 2012 • Marina del Rey, California
PRINT CLEARLY or TYPE (Copy form for three or more registrants. Send all forms and payment together.)
SSA Member number (if known): ______First Registrant Name: ______Badge nickname: ______Title: ______Second Registrant: ______Badge nickname: ______Title: ______Company Name: ______Address: ______City: ______State: ______ZIP: ______Telephone: ______Fax: ______Office email required for registration confirmation and any Course preliminary correspondence. Print clearly : Email (1st Reg.): ______Email (2nd Reg.): ______
SSA Direct Members & Affiliate Members All Others By By By After By By By After Payment Received 3/31/12 4/30/12 5/31/12 6/1/12 Payment Received 3/31/12 4/30/12 5/31/12 6/1/12 q First Registrant $1,200 $1,300 $1,400 $1,500 q First Registrant $1,300 $1,400 $1,500 $1,600 q Second Registrant** q Second Registrant** (same company) $1,000 $1,100 $1,200 $1,300 (same company) $1,200 $1,300 $1,400 $1,500 Total* : $ NOTE FEE DEADLINES Total* : $ NOTE FEE DEADLINES
* SSA reserves the right to charge the correct amount. ** Additional registrant discount applies only if form and payment are received with the first attendee’s registration form and payment.
q Please check here if you are disabled and require special assistance. Attach a description of your needs.
Cancellation Policy: If you are unable to attend, a substitute meeting the prerequisites listed above may be accepted. Cancellations faxed or postmarked by 5/13/12 will be subject to a $200 processing fee per registrant, with the remainder refunded. For cancellations between 5/14/12 and 5/31/12, a 50% refund will be made. No refunds granted thereafter, but substitutions are accepted.
Payment: Registration and program seating reservation will not be processed without full payment. Enclose a check payable to SSA in U.S. funds, or credit card information: q Visa q MasterCard q American Express Card # ______Exp Date: ______Cardholder’s Name (print): ______Signature: ______TO REGISTER: Fax with credit card information to SSA at 513-843-6944 or mail registration form with check to Self Storage Association, 4189 Edinburgh Drive, Cincinnati OH 45245 For additional information, please call (703) 575-8000 ext. 104 or go to www.selfstorage.org
AMSOUTH BANK
DEVON SELF STORAGE MARIETTA, GEORGIA Subject Flood Map All attendees
Table of Contents
I Executive Summary will receive the a Overview b Area Map c Location Map a Yellow Pages d Atlant e Marietta Yellow Pages f Aerial Photographs
g Site Layout
II Property Information of the site a History n b Locatio eputation c Image and R d Staffing ance AREA MAP e Operating Perform customized financial III Market Analysis Marietta a Overview of Area of Influence b Competitive tition c Compe titors and rates d Typical Compe
IV Financial Overview
a Historic Performance oforma Projections Year One b Pr ars 1 through 7 c Proforma Projections Ye modeling tool! V Project Team
a Development Partners gement Company b Mana
VI ADDENDA
1901 N. Beauregard Street a Engineering Report CVS ATLANTA b Environmental Survey LOCATION MAP
Suite 450 MARKET ANALYSIS Overview - Marietta immediately north of The City of Marietta is strategically located along the I-285 beltway, lanta, in Cobb County, Georgia. the City of At AMSOUTH BANK e mile Cobb County’s school the United States. DEVON SELF STORAGE With a population density of more than 1,800 per squar Potential Income MARIETTA, GEORGIA nd largest in Georgia and among the top 30 in Alexandria, VA 22311 system is the seco DEVON - MARIETTA 27-Oct-04 Variance Monthly obb County, Marietta is home to Dobbins Air Force Base and Proposed ription bbAs the County Seat of C Current ed Occupied Neighborhood Desc ies’ national or regional headquarters. The county’sa Current Proposed oss Poss. Per Occupi on of Metro Atlanta in Marietta, Co over 100, Fortune 500 compan TOTAL . Gr western regi TOTAL TOTAL Rates Gross Poss ntal Inc. Unit Month Rent Loss ted in the north de of Powers Ferry Place, ion, adjacent to the Atlanta beltway and Interstate - 75 provide Rates al Inc. Re $840 strategic locat TS Occupied Vacant Rent $35.00 The subject property is loca ly located along the west si ns for numerous local, regional and national freight and UNI $1,628 $3,127 SIZE $1,295 $59.00 eorgia. The subject is more specifical hange. convenient base of operatio $44 $4,012 County, G $35 $4,012 $8,532 24 13 $59 $79.00 of the Interstate 75/Delk Road interc package expeditors. 37 $59 $10,057 $6,976 just ¼ mile northeast 5 x 5 15 $8,927 $109.00 AMSOUTH BANK 68 53 $89 $8,550 $5,934 5 $79 $8,175 $129.00 DEVON SELF STORAGE 5 x 10 $114 $6,950 Neighborhood Map 113 108 $109 $6,450 $1,749 The Competitive Marketplace MARIETTA, GEORGIA 10 x 10 64 11 $139 $159.00 75 $129 $2,296 $3,780 10 x 15 4 $2,226 $189.00 50 46 $164 $4,850 $1,614 3 $159 $4,725 $269.00 !(A1:J49) 10 x 20 14 11 $194 $1,614 $299 a of Influence Outlined in Red 5 $189 $1,614 $299.00 roach Calculations 10 x 25 25 20 $269 $299 Cost App Subtotal $269 $299 Competitive Map with Probable Are No of Units 10 x 30 6 $299 Cost Cost per Unit $299 Direct Unit $ 1,147,965.00 1 22 .75 50,460 12 x 30 Tire 6 Area Type $ 0 $819 Square foot $ 1,128 ,090.0 $39.00 ts 60,650 10 x 30 Office 1 $2,024 terior Storage Uni $ 18.60 $98 Area #1 - Ex Square foot 4,235 ,919.36 $1,794 $49.00 98,304 $ 10 x 40 $44 $378 43 .09 $39 $343 $3,422 Area #2 - Interior Storage Units Square foot $ 138,012.00 12 x 40 21 25 $54 $59.00 2,100 $ $49 $10,434 $553 $ 65.7 2 5 $8,319 $79.00 Area #3 - Climate Controlled Building Shell Square foot $ 6,649,986.36 5 x 5 CC 46 2 $74 $891 Total Cost Building $59 $711 $11,682 ce/Apartment 5 x 5 CD 7 83 $99 $99.00 Area #4 - Offi $79 $22,253 5 x 10 CC 141 58 7 2 $18,513 $119 $3,498 Subtotal $99 $159.00 Cost Quantity 5 x 15 CC 9 $6,591 Unit Type 625, 000.00 87 118 69 $159 $4,563 Site Improvements 250,000 $ $6,201 $169.00 Item $2.50 10 x 10 CC 1 $169 $5,728 Square Foot 40,000.00 $159 $5,408 $2,685 10,000 $ 10 x 13 CC 22 17 $179 $179.00 Asphalt Paving $4.00 9 $169 $3,402 $6,897 Square Foot 20,000.00 5 $3,222 $209.00 1.00 $ 10 x 15 CC 3 27 $189 Retaining Walls $20,000 $179 $7,884 $1,245 Lump Sum 15,000.00 15 CD 32 3 $7,524 $249.00 1.00 $ 10 x 15 $219 $2,152 Signage, Lighting, Etc. $15,000 3 $209 $1,992 $239 Lump Sum 45, 000.00 10 x 20 CC 18 33 $269 $239.00 3,000 $ 6 $249 $274 $2,868 Walks, Landscaping $15.00 3 $239 $239.00 Linear Foot $ 745,000.00 10 x 20 CD 3 5 $274 $3,408 e Improvements $239 $269 Fencing Total Cost Sit 10 x 25 CD 8 1 $2,868 $269.00 $ 7,394,986.36 $284 $304 ts & Building) $239 $269 ovemen 10 x 25 CC 1 12 $304 Total Direct Cost (Site Impr 2 $269 10 x 30 CC 1 1 $599 $1,425 Subtotal 20 x 20 CC 1 $285.00 $599 $1,495 $2,400 Indirect Costs $ 14 7,899.73 $1,425 $800.00 Item 2.0% 25 x 30 CC $299 $2,400 Professional fees @ 147,899.73 $285 $2,400 2.0% $ 15 x 60 CC 5 $800 N $800 $1,059 Holding cost (Taxes, insurance, etc.) @ $ 29 5,799.45 10 x 30 CD 5 3 $1,010 Total Indirect Costs: $1,059 $196 4,986.36 CC 3 1 $1,010 $49.00 $ 7,39 900 Sq Ft $324 Total Direct Costs from above: CC 1 $294 $931 7,690,785.81 $49.00 irect Costs: $ FLEX 1 $54 $1,134 Total Direct and Ind $49 $1,029 $1,470 nd 285, U.S. Highway 41 (Cobb 1,153,617.87 4 2 $49.00 terstates 75 a 15.0% $ $54 $3,008 urial Profit 2 $49 $2,303 $1,947 Interstate 75 is a multi- Entreprene 10 x 15 R/V 6 19 $64 $59.00 ess to the neighborhood includes In $ 8,844,403.69 21 $49 $3,108 $237 Primary acc and 280 (Delk Road). ted, V 17 $2,478 $79.00 20 (Marietta Parkway) ……………………………………. 12 x 15 R/ 30 $74 $252 ta through Cobb County. As sta $59 $237 Parkway), Georgia Highways 1 owntown Atlan ts with t Cost New ………………………………… 10 x 20 R/V 47 33 9 $84 Total Replacemen $79 $4,781 lane, divided highway running northwest from D t of the subject property. It also intersec 12 x 30 R/V 42 3 lane highway that ent Subtotal Road just ¼ mile southwes Life Perc 12 x 40 R/V 3 $106,302 $118,759 d e - it intersects with Delk es south of the subject. I-285 is a multi- Less: Depreciation Effective Ag … $ Component - Interstate 285 approximately 2.5 mil ough DeKalb, Fulton, Gwinnett, Cobb, an ……...……………………………………………………………………………$ 1054 $12,457 ough Cobb County, ………………………………………… 11.7% Atlanta area, extending primarily thr Deferred Maintenance - Building …….……………………… 3,391,493.04 Increase Amt. encircles the 42.9% $ 1 (Cobb Parkway) runs generally northwest thr ance - Site Improvements 35 ed just 1 mile west of the subject Deferred Mainten 15 5 31,930.00 Clayton Counties. Highway 4 ghway is situat 60.0% $ ed hi 25 - secting with Highway 41 Long Lived Physical - Building 15 $ o I-75. This four and six-lane, divid … 0.0% parallel t through the area, inter - Long Lived Physical - Site Improvements …….…………………………………………… $ runs generally east-west ately 1.75 miles northwest. Delk … 0.0% property. Highway 120 Obsolescence ……………………… the subject, and I-75 approxim Functional …….…………………… $ 3,923,423.04 d Interstate 75. This multi-lane, Total Depreciation: approximately 2 miles northwest of Cobb Parkway an External Obsolescence -west arterial connecting owers Ferry Road to Road is primarily an east terial connecting I-75 and P neighborhood ar ia Cost Approach $ 6 ,649,986.36 ellent. Final Value Estimate v divided highway is also a primary 745,000.00 access to the neighborhood is considered exc Direct Cost $ Executive Summary the east. Overall 295,79 9.45 ffice/business, Plus Site Improvements $ n of the neighborhood retail/commercial, o 1,153,617.87 l development Plus Indirect Costs $ esentation is to provide an overview of the acquisitio in this area consist of a variety of it 8,844,403.69 Land uses . A high concentration of commercia Plus Entrepreneurial Prof $ The purpose of this pr ily residential applications of the subject include $ 3, 923,423.04 operty, in Marietta, Georgia. the immediate vicinity TOTAL COST Devon Self Storage pr motels, and multi-fam y. Businesses in ……$ 4,920,980.64 lifornia based , Highland Park Apartments, ……………………………… Minus Total Depreciation …….………… .00 is located near the subject propert ministrative offices …$ 3,14 0,000 ltants, and Marriot ………………………………… Suites, Sleep Inn, SouthTrust Bank ad Contributory Value of Improvements: …….………… sently owned by Devon Self Storage, an Emeryville, Ca Drury Inn & ssociation, Power Industry Consu …The…$ site 8,060,980.64 is pre opment and ownership company. alue: …….………………………………………… Plus Land V international 8,06 0,000.00 self storage devel High Tech Institute, American Heart A Rounded to: $ Cost Approach Value Indication: the United States and Europe, originally p Software 14 WeaverGrou Devon, a major self storage developer, by converting in both a closed Pace Warehouse Club, into a CVS ATLANTA created this property in 1995-1998 …………$8,060,000 t Rentable Square Feet of self storage units and AMSOUTH BANK ication….…………………………… modern facility containing 112,810 Netor of the property since that time. LF STORAGE has been the sole owner and opera DEVON SE AMSOUTHCost ApproachBANK Value Ind MARIETTA, GEORGIA STORAGE LLC believe that this acquisition DEVON SELF The ownership and management teams of K-Marr MARIETTA, GEORGIA ptional investment opportunity. presents a truly exce g Statements t side of I-75 provides market exclusivity,enter ject Operatin perty’s location adjacent to the eas Summary of Sub 2004 (Annualized)* Section 2 – Economic Analysis With the pro 2003 38 market with a high population density, and an attractive ratio of r a growing stabile s. 2002 of EGI ea Data CVS ATLANTA otals Per SF of GLA % tropolitan Ar Georgia in the suburb vs. owner occupied housing unit Year: F of GLA % of EGI T Atlanta Me region of Metro Atlanta, $5.95 98.2 4% orthwestern of GLA % of EGI Totals Per S downtown in Cobb County. Totals Per SF $5.89 98.23% 898,383 The subject property is located in the n of 0.11 1.87% SALIENT FEATURES INCOME: 9% 887,880 17,067 cation is approximately 15 miles northwest of 3 MILE RADIUS $ 1,010,676 $6.70 98.0 1.95% 1.76% of Marietta. This lo situated in the northwest section of the State ,167 17,600 0.12 0.11 Base Rental Income 1.77% 16,140 l and largest city, is $ 19,200 0.13 1.86% 0.11 Atlanta, the state’s capita 16,034 100.00% • HIGH DENSITY OF POPULATION 82 Non-Storage Rental Income 0.13 1.91% $6.06 . 1 MILE RADIUS 19,653 $5.99 100.00% 914,523$ Georgia 03,914 PIED 75.7% 3 MILE RADIUS Reimbursements & Other $6.83 100.00% 9$ Atlanta Metro Area Map • 6% $ 1,030,329 HIGH RATIO OF RENTER OCCU Effective Gross Income HOUSING 65. .92% $ 0.12 1 $ 17,528 $ 0.12 1.94% 34% ERCIAL BASED $ 17 ,528 0.08 1. 45% EXPENSES: $ 0.12 1.70% 07% 12,231 • HIGH RATIO OF COMM + $ 17,528 0.06 1. 6.32% 0.93% 9,683 0.38 Real Estate Taxes 0.06 .13% 57,755 CLIENTELE 9,627 0.37 6 13% 55,398 0.21 3.51% ,450,000 Insurance 0.42 6. 90% 32,091 63,158 0.23 3. 3.28% 35,231 0.13 2.09% • PURCHASE PRICE $7 Management Fee 0.22 19,090 3 3,752 0.25 4.16% 37,637 0.55 9.03% $2,000,000 General & Administrative 0.31 4.57% 82,578 47,057 0.47 7.84% 79% ce 64% 70,846 0.59 9. • OWNER CONTRIBUTION Repairs & Maintenan 0.45 6. 0% 89,553 68,445 0.56 9.4 78% $5,450,000 84,964 0.29 4. Utilities 0.68 9.93% 07% 43,725 102,361 0.18 3. 25% • 27,712 0.00 1. LOAN AMOUNT Payroll 0.18 2.57% 02% 401 26,450 0.00 1. 76.5 % 358 - 0.00% Advertising 0.00 0.60% 0% - 203 - - 0.0 • LOAN TO COST RATIO Miscellaneous $ 2.35 40.02% - - 0.00% $ 354,952 6 $ 2.25 38.52% Reserves for Replacement 36.35% $ 339,357 • 1995-1998 368,581 $ 2.44 YEAR BUILT (original construction) 198 $ 3.71 61.19% Total Expenses $ 571 $ CONVERTED TO SELF STORAGE 3.74 62.46% 559, $ $ 10.727 Acres 4.39 64.23% 564,557 $ 661,748 $ NET OPERATING INCOME: • LAND SIZE + 1,068 *Annualized based on 9 months ended 09/30/2004 N • TOTAL RENTAL SPACES + + 112,810
• NET RENTABLE SQUARE FOOTAGE 50.8%
• PERCENTAGE of CLIMATE CONTROL le: 57,275 SF Climate Controlled 55,535 SF Conventional ties is presented in the following tab Atlanta’s distance to surrounding ci INFORMATION & REGISTRATION
!(a1:f17) rrounding Cities CVS ATLANTA Atlanta's Distance to Su
Distance (Miles) City 84 Macon, Georgia 108 Columbus, Georgia 120 Chattanooga, Tennessee 146 Greenville, South Carolina 150 Birmingham, Alabama 245 Charlotte, North Carolina 250 Nashville, Tennessee www.selfstorage.org or contact Erin 703-575-8000 ext. 104
7 CVS ATLANTA
SSA VALUATION & ACQUISITION COURSE
SIGN UP TODAY FOR THE SSA VALUATION & ACQUISITION COURSE ! • Prepare to quickly react to market changes • Know the true market value of your assets in a shifting economic environment • Avoid overpaying for your next acquisition • Have the tools to prepare a presentation quality analysis for your lender • Find out what your peers are doing to succeed in a stalled economy
A Special Thank You to our SSA Partners…
Charity Storage Low Cost Processors: The Cost is Actually Greater Than You think! Ask your current processor these important questions. 1. Can you match PayPros’ experience 4. Do you own your technology and in the self storage industry and customer support staff? Or are payment processing? you outsourcing and/or using a • Integrated payment solutions with third-party vendor? the top software packages. 5. Do you offer a PCI compliance program • More than 60% of the top 50 storage with a breach reimbursement guarantee? providers process with PayPros. 6. Do you offer expert assistance if • Since 1995, PayPros has supported I run into trouble with any PCI more than nearly 54,000 customers compliance investigation? • Processed over $6.5 billion in credit 7. Are check services (ACH processing) and debit card transactions last year. available for integrated and standalone payment processing? 2. Do you provide a credit card processing platform at no additional cost? 8. Do you include fees such as annual & membership in your final pricing 3. Is 24/7/365 free customer proposal statement? support available? 9. Do your proposed rates and fees come with a price guarantee? Are you gambling your business away to a low-cost processor? Now is the time to find out. 800-513-2579
Take this handy checklist to any processor to see if they match what PayPros (formerly Payment Processing, Inc.) offers.
800-513-2579 | www.paypros.com/selfstorage | [email protected] Payment Processing, Inc. is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, CA and National Bank of Canada, Montreal, PQ. Paypros® is a registered trademark of Payment Processing, Inc. ©2012 Payment Processing Inc. All Rights Reserved. Try the New cylinder locks designed to t all of the TM system latches. The cylinder locks have a dynamic new keyless installation. You
just push the lock into the TM and it locks without the keys. You just need the key to unlock the unit. Each lock comes with 3 special nylon headed keys in a tamper proof package. The New cylinder locks have an overlock function built in where the manager can use the overlock key to turn the lock so that the past due customer cannot use their key until they have paid the past due rent. The lock comes in a twin pack keyed alike for customers who have 2 units.
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Self Storage Collections & Lien Sale Handbook No self storage operator wants to conduct lien sales, but they are a necessary part of the rent collection process. Lien laws in 48 states and the District of Columbia grant to self storage facility operators the legal right to sell delinquent tenant stored property when rent is not paid. The lien laws provide, in reasonably clear language, the steps that storage operators must perform prior to conducting a lien sale. However, the state lien laws do not provide clear guidance on the nuts and bolts requirements of actually holding a distressed property lien The Self Storage sale or public auction. This manual provides some of the forms that Collections every self storage operator should consider as part of the process Sale in conducting a self storage lien sale. They can be used whether you & Lien wconduct your own sales or retain an auctioneer to assist you. Handbook This publication is sold electronically. Carlos Kaslow, Esq. Scott Zucker, Esq. Members - $100 www.selfstorage.org Non-Members - $150
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the full membership of the board of directors. As we continue to grow as an orga- nization we would like to remind everyone that we covet your input. We always look to our members to give us new ideas and to make recommendations and suggestions on how we can better assist and serve you. If you do have any comments, ideas, or suggestions please send them to Brent Fields at brent.fields@ docupak.com. Your suggestions and comments will go directly to the Association board of directors for consideration. If you have not joined the Alabama Self Storage Association we want you as a member of our team. Join today and take advantage of all of the wonderful benefits for all of Alabama our members. Some of those bene- alabamassa.org fits include affordable member- ship, advocacy and keeping an C Greetings from the board of directors ear to the ground in Montgomery, of the Alabama Self Storage Associ- M months. Preliminary indications are news and information, education ation. As we head into summer we Y that it will cost between $30,000 and programs, networking and informa- hope that 2012 is still shaping up to $40,000. We realize that this seems tive meetings, communications and CM be a great year for everyone involved like a significant amount. However, if publications, national association MY in the storage industry in Alabama. every member contributed $200 this relationship and much more. Join us CY We had a great turnout last month year we would be over half way to our today as membership in this organi-
CMY at our annual Spring Luncheon in goal. $200 is not a significant amount zation can make a difference. Mobile. Thanks to all of our members and it is far less than the cost of the K Contact: Brent Fields, 205-685-0244, who took the time to attend. Special average auction. If these changes are [email protected] thanks to our sponsors StorSmart passed the $200 investment pays Insurance and Todd Levy as well as substantial dividends in the amount Thames Batré Insurance and Beth of money each facility saves under Hill. We got an eye opening update the new lien law if it is passed. Soon, Arizona on the latest legislative session and an you will be receiving some informa- azselfstorage.com economic outlook from state senator tion in the mail further detailing the Thanks to the generous support of Ben Brooks, (R) Mobile. We also had changes along with information on our title sponsor, MiniCo Insur- a lively question and answer session how to contribute to this capital ance Agency LLC; major spon- with our board of directors. Please campaign. sors, BNC National Bank, Chateau stay tuned to our website for infor- We have several open spots for Products, Deans & Homer Self mation on our next event this fall. members to join the board of direc- Storage Insurance, and U-Haul; and As we look to introduce proposed lien tors this year. If you are interested in our promotional sponsor, Mini- law changes in the 2013 legislative becoming a board member simply go Storage Messenger, the 14th Annual sessions we will be beginning a capital to our website at www.alabamassa. Arizona Self Storage Conference campaign to raise funds for lobbying org and click on the member’s only and Trade Show was a great success. support. As a board, we feel that our tab. After you have put in the current This year’s show drew attendees from best chance of seeing our proposed username and password there will all over the country, indicating a changes passed is through the hiring be a link to download a document higher level of interest in the Arizona of a reputable local lobbyist. We have outlining eligibility requirements self storage market. Optimism for formed a legislative committee and and a brief questionnaire that will the comeback in the economy was the committee will be interviewing need to be turned into Brent Fields fueled by Brad North of Advantage potential lobbyists in the coming for review and consideration from See Across the Country, page 48
JUNE 2012 SSA GLOBE PAGE 47 Across the Country, from page 47 (owner/operator, facility manager, or associate/vendor member) is Consulting & Management, who eligible, except board members and spoke on this subject. The BSC the executive director. After refer- Group’s Shawn Hill shared current ring us to a potential new member, financing options in today’s market, just contact AZSA so we can send and attorneys from Phoenix law firm them a membership application (also These Self Storage Ridenour, Hienton & Lewis as well available online at www.azselfstorage. Associations are Affiliated as AZSA’s own Richard Marmor com). Ask the new owner/operator with the SSA addressed legal issues including or associate member to mention your employment, corporate structure, name along with your facility loca- Alabama foreclosure, and sales tax. tion when they join—and we’ll send Arizona you the gift card. Arkansas An afternoon of educational topics was topped off by a fun evening, with Speaking of www.azselfstorage.com, California the trade show preview and cock- have you noticed the new look of our Colorado tail reception, followed by casino website? It’s more than a cosmetic Connecticut night at Wild Horse Pass Casino. change—in fact, the new website Florida Round tables were well attended and content management system Georgia and stimulating, as were the state of did for AZSA what the 2010 lien law Idaho the industry address by Jim Stevens, changes did for the Arizona industry. Extra Space Storage, and Arizona Did you know that: You no longer Illinois Market Study by Jerry Zaddack, need to remember an ID number— Kansas Strategic Valuation Group. National log in with your email address; our Louisiana Self Storage Management’s Heather new e-commerce service saves your Maine Morrow, Arizona’s self storage pro orders, so reordering is really as Maryland from the cradle, treated managers to simple as “pushing a button;” you can Massachusetts a Facility Feud Game Show to drive edit your profile easily online, adding home the conference’s back to basics a photo of your facility and other Michigan lessons. The silent auction and an details, updating as often as you want. Mississippi iPad raffle also generated funds for These are just a few of the features Nevada Kure It Cancer Research. to enhance your experience of New Jersey Other AZSA news includes our the AZSA website. Invisible to the North Carolina new member referral program. naked eye but hopefully tangible in North Dakota The wider our representation, the terms of increased efficiency and Ohio better we are able to keep the cost user-friendliness are a multitude of Oklahoma of membership down and still offer features that improve data manage- Pennsylvania bottom-line improving benefits— ment, communication, and overall such as modernization of Arizona’s AZSA operations. South Carolina lien laws, which saves hundreds of Contact: Anne Mari DeCoster, AZSA Tennessee dollars in postage per year for each executive director, 602-374-7184, Utah and every Arizona self storage facility. [email protected] Virginia Because AZSA is able to present a Washington State unified voice on issues affecting self Wisconsin storage in the state, we were able Arkansas ___ to modernize the state’s lien laws through the legislature years ahead arssa.org Canada of other states in the nation—saving The ASSA is preparing for our 8th Federation of European Arizona operators more money over a longer period of time. annual expo and general meeting. Self Storage Associations This year we will be meeting in Little (12 nations) We encourage members to share the Rock, Arkansas at the Statehouse Japan Self Storage Association benefits of AZSA with others in the Convention Center on September Latin America state and make some money with a 26 and 27, 2012. The ASSA will host Self Storage Association limited-time opportunity to earn a a golf tournament on September 26 $50 gift card for each referral that at the Pleasant Valley Country Club SSA of AustralAsia turns into a new AZSA member- and a reception with roundtables in ship. Any current AZSA member the vendor hall that evening. We will
PAGE 48 SSA GLOBE JUNE 2012 have seminars for attendees on the California and industry vendors. The tions and operational procedures 26th and 27th, and storage software California Self Storage Association is and techniques. Our spring meeting vendors will give demos the morning blessed with some of the best opera- featured Part I of a comprehensive of the 26th. RK Kliebenstein will give tors, the most experienced property training session for managers, and his presentation that afternoon. Anne managers, the most knowledgeable this will be followed up with Part II at Ballard will be returning and Carlos experts in their fields. Let’s learn our October 17 fall breakfast meeting. Kaslow will discuss legal issues. The from each other. Call our office today We’re also giving back to the commu- expo hall will be open during the day to reserve your copy. nity through our participation this on the 27th. Booths are available for Our 2012 education program is on a fall in the 9Cares collection drive, vendors. roll. Join the CSSA in Walnut Creek collecting non-perishable food and Contact: (501) 607-4775, info@arssa. on June 7 with Tom Litton where we toiletries for Colorado’s needy fami- org will discuss self storage auditing prac- lies. Channel 9 Denver has been tices in full detail. This class offers collecting food and donating to attendees a 78-page workbook full of over 125 local food banks since 1982. California everything you need to get started in The need is great, and we’re asking your facility audit today. Register now member facilities to set up collec- californiaselfstorage.org on our website. tion boxes in each of their locations to allow for easy access by customers, Please save the date: The CSSA All of our events are on our website walk-ins or neighbors to contribute. and Talonvest Capital are proud to calendar. Be sure to review our The drive will be for approximately co-host the 8th Annual Self Storage schedule or you could miss out on three weeks starting in mid-October Owners Summit on Thursday, July 19, one of our networking receptions, and ending on November 12. Stay 2012, at the world famous Balboa Bay education events or coffee meetings. tuned for more details. Club Resort in Newport Beach. All of our events offer high quality What will be the highlights from this content and excellent networking To become a member and enjoy all July’s 8th Annual Self Storage Owners opportunities. the benefits of COSSA member- ship including reduced fees at our Summit? Dean Jernigan, in his final Remember, the CSSA recently moved. member meetings, visit our website year as CubeSmart’s CEO, will Call us or visit our website to confirm and download the membership deliver a compelling keynote session our contact information. Thank you application or e-mail [email protected]. filled with his unique vision for our again for your continued support. industry, his predictions about what For current members who recruit lies ahead and the opportunities he Contact: (949) 783-4130 and sign up a non-member, you will sees for owners with a proven oper- receive a discount of $25 off your ating platform. Industry leaders will next annual membership dues. New face off in the panel debate: “David Colorado members who sign up between now vs. Goliath – Can Small to Midsize and our fall meeting date, October 17, coloradossa.com Operators Effectively Compete with will attend that meeting free. Large Operators & REITS Today.” One of the main reasons COSSA is in Contact: [email protected] Top buyers and institutional equity business is to provide a unified voice investors will share their insights at the state capitol for the Colorado about their latest investments during self storage industry. We’ve had a the popular Investment Panel session. legislative presence since our incep- Connecticut tion in order to safeguard and repre- ctssa.org A room block has already been set up sent the interests of all self storage and registration is open. This event The Connecticut Self Storage Asso- operators. A recent article in the Wall will sell out. Owner registration is ciation’s (CTSSA) is planning the Street Journal pointed out that, when now open and vendors can secure CTSSA Annual Conference which government of one kind of another their seats via sponsorship. Register features a reception on October controls 40 percent of the economy, early to guarantee your seat. 10 and a full day of education on any business that doesn’t participate October 11, 2012. We’re meeting at The CSSA is celebrating our 10th in politics either directly or indirectly the Glastonbury Hilton Garden Inn anniversary this year and we were through a trade group is setting itself which is right next door to shopping recently voted Best State Trade Asso- up for failure. and fabulous restaurants. MASSA, ciation by Inside Self-Storage. We are We want to make sure that all of our MeSSA and NHSSA members attend commemorating this milestone by members are provided with plenty at the CTSSA member rate. Save the publishing a book of best practices. of educational opportunities and are dates! A book of know-how, knowledge kept up to date on the latest regula- and can do ideas from operators in See Across the Country, page 50
JUNE 2012 SSA GLOBE PAGE 49 Across the Country, from page 49 with the Florida Self Storage Asso- Paces Ferry Road, Atlanta, GA 30339. ciation. Everything we do at the Please RSVP to [email protected]. CTSSA is actively involved in association is for you, our members. On June 12 Paul Darden, owner lobbying on behalf of its members We work diligently throughout the of Darden Interests, Inc, will be and the Connecticut self storage year to bring you quality education, our keynote speaker. He will give a industry. Our 2012 legislative agenda advocacy, networking opportunities, presentation on District Manager, was aggressive and we made progress and industry information as we strive which is his self storage manage- on modernizing the lien laws. As of to add immediate value to you. We ment software. A separate company April 6, our bill has made it out of look forward to the opportunity to formed by Paul Darden and Ian Committee and is now on the House continue to serve you in 2012. If you Velasco created the self storage calendar. We expect a favorable vote are not a member, please consider management add-on software called out of the House. The bill will then joining us. District Manager. Since its inception need to be approved by the Senate Contact: Robert Bret, executive in January of 2011, District Manager and then signed by the Governor. By director, (877) 222-9441,: rbret@ has over 670 users around the United the time this article is printed, we floridassa.org States and five foreign clients. District hope to be able to report success. To Manager is considered to be superior learn more about the actual results, data mining software that gives self send an e-mail requesting an update storage owners the ability to make to [email protected]. Georgia wise decisions by getting the appro- gassa.org If you are a facility owner in priate data charted and reported to Connecticut, remember that a The Georgia Self Storage Asso- them. It also audits the stores for strong membership results in a more ciation (GASSA) meets on the employee giveaways and/or theft. It commanding presence at the State second Tuesday of each month for is the only software that gives the Capitol. If you aren’t a member, join networking, luncheon, and board owners automatic email alerts when today so your voice is heard at the meeting. There is always a program, something is not running properly. Connecticut legislature. The CTSSA often with many nationally recog- Darden Interests Inc. did its first membership application is online nized speakers. Members and non- self storage market survey in Dallas, at www.ctssa.org or call the office members are welcome. Membership Texas in 1976, but did not enter the at (860) 228-3624 and we’ll mail an dues are $250 per calendar year management of self storage facili- application to you. (January–December). Join the ties until 1992. Over the years it has GASSA today. CTSSA members enjoy regular managed over 65 self storage facilities educational meetings and networking Good news! The Georgia Legislature throughout the southwest. At this luncheons, quarterly newsletter, passed one of the two bills actively time, they own and/or manage 12 self member discussion forums, library of pursued by the GASSA during the storage facilities in Texas, Louisiana, documents, website, subscription to 2012 session. The Governor has and Arkansas. Self Storage Now and additional bene- until the end of June to sign the bill, The GASSA scheduled three educa- fits from SSA including a subscrip- HB 463, into law. This bill estab- tional seminars for 2012. May 8 was tion to the SSA Globe. lishes a limited tenant insurance our first seminar of 2012. Our second license, allowing self storage facili- To be added to the CTSSA program is on September 11 and is a manage- ties to legally sell tenant rental insur- and legislative mailing list or if you ment session—2012: A Steady Climb ance. Many thanks to everyone who are interested in advertising in the to Improved Profits. Finally, our third supported this effort. CTSSA newsletter, Insights, send is on October 9 and is an opera- your request and contact information Unfortunately, our second bill, HB tions session—Where Are You Now including e-mail address to CTSSA. 649, did not make it through this and How to Improve Your Year-End year’s legislative session and the Results. Contact: 860-228-3624, lbolduc@ GASSA will re-introduce it at the ctssa.org, CTSSA, 17 Rivendell Road, These sessions are targeted for start of next year’s session. This bill is Marlborough, CT 06447-1260 managers as well as owners. All semi- a full revision to the current lien law, nars will be held at The Vinings Club addressing changes consistent with Conference Center, 2859 Paces Ferry other self storage laws around the Florida Road, Atlanta, GA 30339. Check is at country (Tennessee and Colorado); 2:30 pm and classes are from 3:00 to floridassa.org including e-mail notification for liens 6:00 pm. To register, please RSVP to and towing of abandoned vehicles. Membership has its benefits. If you Chuck Manley. have not done so yet it’s time to Luncheons are from 11:30 am to renew your membership for 2012 2:00 pm at The Vinings Club, 2859
PAGE 50 SSA GLOBE JUNE 2012 Contact: Chuck Manley, executive immaculate accommodations, exten- Suppliers who wish to become a director, (678) 764-2006, chuck@ sive complimentary amenities and a sponsor of this event should visit gassa.org great location for enjoying every- www.glss-owners-summit.com for thing Chicago has to offer. details, or call the ISSA office. Full registration information for owners ISSA has dramatically changed the will be available soon. Now is the Idaho format of this annual event from an time to secure your hotel room at the expo to an owners summit, featuring idssa.org Conrad. A limited number of rooms programming with direct appeal to have been assigned to the June 6 For more information and to become self storage owners and their top summit block. Call the hotel at (312) a member of the Idaho Self Storage management people. The June 6 half- (645) 1500 and ask for the Illinois Self Association, please contact Richard day program is designed to maximize Storage Association event rate. Church or visit us online. your learning potential coupled with Contact: Richard Church, (208) networking opportunities with some Event chairman David Kohn 989-2960 of the leading industry suppliers. A (MJ Partners) is coordinating an limited number of premiere spon- outstanding program for owners sors will have access to table top and key management. This one-day Illinois displays and strategically talk about program will feature top-level their company during a round- presenters covering: capital markets, ilministorage.org table forum. The day will end with state of industry, and investments. The Illinois Self Storage Association a great reception where owners/ The Owners Summit replaces the (ISSA) will be hosting the 2012 Great managers, presenters, and spon- GLSS Expo, but attendees will still Lakes Self Storage “Owners Summit” sors can continue discussions in a have access to key sponsors who will on June 6 (previously announced as relaxed, casual atmosphere. A special have displays of their product and/ June 28) at the distinguished Conrad discounted registration fee of $95 is or services. available for ISSA members. Hotel on Chicago’s beautiful “magnif- Contact: (217) 528-5230 icent mile.” The upscale property is noted for its thoughtful service, See Across the Country, page 52
Educational Seminars Vendor Hall Roundtables Networking Opportunities Resort Location Bottle Auction Membership Meeting Lien Law Update
Join owners, managers and vendors from across the Southeast as they come together for a combined conference that you will not want to miss. Learn about the state of the industry. Hear about the latest industry products and services. Network with industry peers.
The convention will be held at the Holiday Inn Wrightsville Beach.
For registration, exhibitor or sponsorship information, visit www.ncssaonline.org or contact the office at [email protected] or 919.459.2074.
JUNE 2012 SSA GLOBE PAGE 51 Across the Country, from page 51 featured Internet advertising issues, Contact: Shawn Herrick, (785) legal issues, and management soft- 286-1110, KSSOA, 7321 NW Roch- ware options as well as property tax ester Road, Topeka, Kansas 66617 Kansas issues. kssoa.org The Kansas Self Storage Owners Louisiana At the time of writing our Self Storage Association’s mission is to provide Act legislation has been held up in value and potential for growth by ssala.org working together in our regional conference committees. However it Your Louisiana Self Storage Asso- should be addressed in the wrap up trade organization. Be sure to take a moment to consider the many ciation is proud to announce the or veto session in May. By the time dates for our annual Fall Expo: of publication, hopefully it will be (and ever-increasing) services to the storage industry that your trade asso- Wednesday, November 7, 2012, in successfully behind us and we’ll be Baton Rouge, Louisiana. We will able to report it has been signed by ciations offer. None of us is as strong alone as we are collectively. post updated information over the the Governor and changed the law next few months detailing speakers to benefit our members. The bill if “KSSOA strives to provide high return and seminars. Vendors interested in it passes will ultimately reduce our on members’ dues investment on any participating are encouraged to call operating expenses and reduce our one of its single member benefits. SSALA executive director Shawn liabilities. Kansas’s storage owners Hopefully, with the 2012 legislative Herrick for more information. We are benefiting from both state and initiative, we will be able to provide hope to see you there. national representation, as the SSA an exceptionally high return on our is providing both financial support many years of financial commitment Recently, torrential rains in south and direction through its attorneys by our members, through lower Louisiana flooded one of our member and leadership. postage costs, public notice costs, facilities in Carencro. Association members were able to provide the Our spring luncheon meeting was and other critical issues,” said Larry Goldman, KSSOA president. owners valuable advice and direc- in Leawood, Kansas at the Leawood tion in dealing with this disaster, and South Country Club, May 23. Topics they seem to have come through
Al rd SSAA Annu The 23 ConvenTion & TrAde Show
7, 8, 9 AuguST 2012 The hilTon Sydney, AuSTrAliA
Join us in Sydney Australia for the 23rd annual Self Storage Convention and the biggest feATured SpeAkerS INCLude: Trade Show in the Southern Hemisphere. Come and hear why self storage in Australasia peter Greer, director of National is growing from strength to strength. We will challenge your thoughts about self storage, Storage Australia; Mike Scanlon, enhance what you already know and show you what you thought you would never need to president and CeO of the Self know. If you would like to learn more about attending or exhibiting, contact Luisa Natoli Storage Association of the uSA; at [email protected] and Amanda Stevens, Marketing Hope to see you there! Consultant & Author.
PAGE 52 SSA GLOBE JUNE 2012 the event in pretty good shape. This MeSSA would like to welcome Sherri a managers’ track with four sessions is what the Louisiana Self Storage Brown (Arenhall Corp.), Jeff Boufford each. The exhibit hall was the hub Association membership is all about: (Boyd & Boufford Insurance Agency) of activity and a great place to learn helping one another through thick and Robin Beck (Boothbay Self- more about the products and services and thin. Now is the time to review Storage) to our board of directors. specific to the self storage industry. your facility’s disaster preparedness: Check our website or our Face- The next big event for MASSA Do your managers know who to call book page for more information on members is the CTSSA Annual in the event of an emergency? Do upcoming meetings and for other Conference where MASSA members they understand what they should important updates. attend at the CTSSA member rate. and should not say to a tenant with The event features a reception on damaged belongings? Does your MeSSA is always looking for new October 10 and a full day of educa- company have a designated media members, and there is no better time tion on October 11, 2012. We’re response person? The SSA offers than now to join. meeting at the Glastonbury Hilton an extremely detailed emergency Contact: Mark Adler, (207) 324-1644, Garden Inn which is right next door preparedness manual that is well [email protected] to shopping and fabulous restaurants. worth the investment to make sure Save the dates! your response is the one that protects your property. MASSA is actively involved in Maryland lobbying on behalf of its members The executive board thanks you and the Massachusetts self storage for your continued support of the Please contact any of the MDSSA industry. In 2012 we are pursuing SSALA. If you haven’t yet sent in your board of directors listed below to changes to the lien laws to reduce membership renewal, please consider obtain a copy of our position paper mailing and advertising costs. We doing so today. on sales taxes or to address any other concerns you have concerning estimate that on average each facility Contact: Shawn Herrick, executive self storage in Maryland. Our board will realize a savings of $2,000/year. director, (866) 857-8473 members are: president, Todd We are also monitoring legislation Manganaro of ezStorage (tman- and proactively responding to any [email protected]); vice presi- bills that affect our industry. Maine dent, Joe Wolinsky of Chesapeake Help MASSA save your business mainessa.com Resources (jowolinsky@selfstorage- money. A strong membership plus.com); secretary, Carol Shipley of results in a more commanding pres- The Maine Self-Storage Association’s U-Store-It ([email protected]); ence on Beacon Hill. If you aren’t a 2012 Annual Conference will be held treasurer, Richard Sellers of U-Store member, join today so your voice is on June 14–15 at Hollywood Casino Management Corp.(rsellers@u-store. represented at the Massachusetts in Bangor, and once again, will be free com); at-large, Jeff Kinder of Advan- legislature. to the first attendee from member tage Self-Storage (jeff@advantages- facilities. Join us at the social media torage.com). MASSA members enjoy educational marketing seminar before the meetings and networking, quarterly vendor-sponsored cocktail reception Contact: Richard Sellers, rsellers@ newsletter, library of documents, on the 14th. The myriad of speakers u-store.com website, subscription to Self Storage at the conference on the June 15 will Now and additional benefits from include a representative from the SSA including a subscription to the Maine Emergency Management Massachusetts SSA Globe. Agency speaking about terrorism maselfstorage.org If you would like to be added to the and criminal uses of self storage and MASSA program mailing list or if self storage attorney Jeffrey Green- The Massachusetts Self Storage Asso- ciation (MASSA) 2012 Northeast Self you are interested in advertising in berger who will be speaking about the MASSA Advantage, send your legal matters. There will also be Storage Tradeshow was held at the Westford Regency Inn and Confer- request and contact information roundtable discussions on a variety including email address to MASSA. of subjects as well as vendor displays. ence Center in Westford, Massa- Non-members—you’re welcome chusetts on May 16-17, 2012. The Contact: 617-600-4481, lbolduc@ to attend as well (and please note opening reception was well attended maselfstorage.org, MASSA, 17 that you can apply your registra- and a lot of fun. People reconnected Rivendell Road, Marlborough, CT tion fee for the conference toward with their self storage friends and 06447-1260 your membership dues—in essence made new acquaintances. Attendees making the conference free for you liked the new educational format as well.). which offered an owners’ track and See Across the Country, page 54
JUNE 2012 SSA GLOBE PAGE 53 Around, from page 53 have produced. Nevada SB-150 went to challenges about contractual value into effect on October 01, 2011. Our limitations. This measure, similar to new leases are the most up to date what has been established elsewhere, Michigan and current with the new SB-150; will make it more difficult for courts created by the attorney who drafted to question this area of your contract. selfstoragemichigan.org the law. Educational and fundraising Supporting the industry in Trenton We encourage you to join the Self events coming this fall during the is MBI-Gluckshaw, one of the Storage Association of Michigan SSA Fall Conference—details coming state’s largest lobbying firms. A bill today and take advantage of the many soon. containing these changes has been benefits available. SSAM lobbies drafted and sponsors for the measure Contact: Valerie, (702) 952-2455 the Michigan legislature on behalf have been identified, although they of issues that are important to you will not file it until later in the year. and your self storage business. Your The New Jersey legislative season SSAM membership allows you to New Jersey runs throughout 2012. take advantage of special discounted njssa.org Reminder! If you have not yet rates on website design and develop- renewed your NJSSA membership for ment, credit card processing, free The NJSSA 2012 Annual Conference 2012, please take a moment to do so. listing on the SSAM website and was held March 29 at the Wood- If you have not joined the New Jersey much more. SSAM has a professional bridge Hilton in Iselin, NJ. Self Storage Association, we want management team to help answer This year’s conference was a huge you to be a member of our team. Join your questions or guide you to find success, with over 80 attendees and today and take full advantage of all the answers you need. exhibitors. Plans are now in the works the wonderful benefits our members for the NJSSA’s 2012 Grassroots Contact: (888)308-7726 enjoy, including advocacy, education meetings. Information regarding programs, networking, informative dates, locations, and topics will be meetings and publications. coming within the next few months. Mississippi Contact: Trish Fratarcangelo, Members of the NJ-SSA board msssoa.org [email protected] of directors are working with the Our membership is still growing, national SSA and a Trenton-based and we hope that you decide to be lobbying firm to update the state’s a part of the Mississippi Self Storage lien law. The national SSA has North Carolina Association. Remember, we need worked with 14 state associations ncssaonline.org each other to promote a stronger self during the past four years on similar The Southeastern Self Storage storage industry. initiatives, sharing best practices and Convention & Tradeshow, planned providing financial support from Contact: Missy Hughes, executive by the NCSSA, will be held October its legislative fund. Over the past director, (601) 248-5422, msssoassn@ 28–30 at the Holiday Inn in Wrights- several months, the national SSA yahoo.com ville Beach. The convention schedule and the NJ-SSA legislative commit- will have sessions of interest to tees have worked together to identify owners, managers, and vendors. parts of the current statute where Learn about the latest industry prod- Nevada reasonable change could result in ucts and services. See what fellow significant savings and protections nv-ssa.org owners and operators are facing at for storage operators. Primarily, the The NVSSA invites you to join their facilities. Join in the discussion SSA will look to include email and the premier, most comprehensive about hot topics. If you’re a vendor verified first class mail as recognized resource for self storage operators to the industry, consider securing a notification options during the lien and their support vendors in Nevada. booth so you can showcase your new process. The new law will also expe- We work on behalf of members to offerings. dite vehicle (including watercraft and impact the standard of conduct and RVs) lien situations by empowering We hope to bring you new and enhance the quality of the self storage operators to turn the matter over exciting information about the industry in Nevada. Members benefit to a towing company after 60 days. industry, and we’d love to know what from industry information, education, Finally, a statute supporting value you’d like to hear about. If you have research, and technical expertise. limitations within self storage rental any suggestions for topics for the We continually advocate on behalf of agreements will be pursued. There conference, seminars, or webinars, our members and are proud of the have been cases throughout the contact the NCSSA office. success that our legislative efforts country where judges have been open
PAGE 54 SSA GLOBE JUNE 2012 Also, don’t forget to post your auction Contact: Trish Fratarcangelo, Details: http://e-lobbyist.com/gaits/ on the NCSSA website. Listings are [email protected] text/617810. free for members and only $25 for Legislatively, the SCSSA has been non-members. The calendar can especially busy with drafting new be viewed by anyone looking for an Oklahoma lien laws, updating our Rental Agree- auction in the state. It’s a great way ment, offered to members of the to get the information out to the okssa.org SCSSA free of charge, and working public and attract more bidders to The Oklahoma Self Storage Associa- with our state legislature to get the your auction. Visit www.ncssaonline. tion has formally affiliated with the ball rolling. State lien law updates org/auction-calendar to submit your SSA and is actively recruiting new are under way and the SCSSA information. members. announced that we have sought out If you are a self storage owner or Contact: Jared Jones, president, (918) and have been awarded $15,000 in operator in North Carolina and 948-3941, [email protected] financial support from the National have not yet joined the NCSSA, we SSA Legislative Fund. This is a huge encourage you to do so. It is essential success for our association and for for operators to stay informed of the Pennsylvania our industry statewide. This award is many changes and laws affecting—or only a small indication of the massive that have the chance to affect—our paselfstorage.org effort underway in South Carolina to industry. Membership in this organi- Save this date: October 18 is the reform the laws affecting self storage zation can make a difference. PASSA Annual Meeting & Confer- in a major effort to bring them, and industry, into the 21st century. Contact: Whitney Bertram, (919) ence at the Blue Bell Country Club 459-2074, [email protected] in Blue Bell, Pennsylvania. We have also been hard at work to Did you know that by being a update the SCSSA website and the member of PASSA, one of your way we manage your association Ohio benefits includes free attendance using that website and the software to the national Self Storage Asso- in it. It has been our goal from the Membership is available to any ciation’s Online University monthly start to run the association with an owner/operator with a storage facility live webcasts? You are considered an absolute minimum overhead so that in Ohio; a vendor may become a affiliate member of the SSA. Please funds could go toward offering free member of the new Ohio association watch for blast emails as we will educational lunches, trade shows by paying the requisite dues. Eligible continue to update you each month and many of the other value adding members of the SSA-Ohio auto- on the webcast topics and registra- benefits that we are proud to offer. matically become direct members tion information. Please visit us online and check out of the national SSA. Ohio-based our Auctions posting, Job postings owner/operators or companies who As we continue to grow as an orga- and other tools offered free of charge. are already direct members of the nization, we look to our members Also, we thank Sparefoot for all of national SSA automatically become to give us new ideas and to make their efforts creating our website. members of the new SSA-Ohio suggestions and recommendations charter association with no dues on how we can better assist them. If you are interested in attending increase. The national SSA is offering Your ideas, suggestions and recom- our meetings, getting up-to-date on the complimentary membership as mendations will go directly to the these or our many other efforts or if an added benefit for joining the SSA- board of directors for consideration. you have a way to help our industry Ohio association. through your participation, please Contact: Kimberly Cossar, (717) contact us. Membership is easy and Coming soon: Planning has begun 441-6044, kimberlycossar@ the benefits are great. for the 1st Annual SSA-OH Annual wannerassoc.com Meeting. This one-day event will Next Meeting: Come and enjoy the feature educational sessions along great networking and delicious food with self storage industry hot topics. South Carolina at our SCSSA Summer Meeting in Greenville in July 2012, Noon Please visit www.selfstorage.org scselfstorage.org to 4pm. Attendance is free and the for information on becoming a Legislative Alert: We have had our food is great but an RSVP is helpful. member of the new Ohio Self Storage bill introduced! Excellent work and Details: www.scselfstorage.org/news- Association. congratulations to all those that have andevents.html. helped and supported this effort. Contact: 843-562-6736, president@ SCSelfStorage.org See Around, page 56
JUNE 2012 SSA GLOBE PAGE 55 Around, from page 55 free to pass the newsletter along Speaking of legislation… our Annual to your peers within the industry. Legal Seminar is coming up soon. TNSSA strives to provide valuable We will have the opportunity to hear Tennessee information to our members and to from Scott Zucker, of Weissmann our facilities statewide. We cannot Zucker Euster Morochnik P.C. Not tnssa.net reach everyone alone though, we only are these seminars extremely We love our quarterly luncheons. need your help. If you would like to beneficial in their content but Scott Last month we met at the Fox Den advertise in our newsletter or provide is also wonderful about opening the Country Club in Knoxville and it material for future issues please floor for questions. No matter how was a success as always. Sam Celaya, contact Jennifer Howell, jennifer. crazy the question may seem, Scott the director of eMove, gave a very [email protected] or has probably heard it before. Stay informative and timely presentation Melissa Roberts, melissa2911@gmail. tuned to our website for further concerning the value of the Internet com. details about the meeting. We hope as a tool used by our owner/opera- to see you there. Our Legislative Committee is still tors. Thank you to our sponsor Dee working to raise the funds necessary We want you and now is the time to Sharp of William Knight Insurance to cover the revisions of the lien law join! Tennessee Self Storage Asso- Agency. Go ahead and start making last year. Your financial contribution ciation members are receiving more plans now to attend our August is important. You can be of great benefits than ever before. We are also meeting in Memphis. Stay tuned for assistance as we continue to work to very proud to now offer our vendor details. protect our members and their facili- members an opportunity to advertise The second edition of the TNSSA ties from legislation that may affect their services not only in our newslet- 2012 newsletter was distributed them negatively. Please visit www. ters but also on our website. via email last month to all of our tnssa.net or contact Sherry Cole, Contact: Todd Levy, president, (770) subscribers. If you would like to sign legislative chair, at (805) 444-4267 624-1824, tlevy@storsmartinsurance. up as a subscriber to our newsletter or [email protected] for additional com please just visit us at www.tnssa.net information. We appreciate your to register. Also, our newsletters are involvement. always available on our website. Feel Virginia Please encourage and refer other people in our industry to join. There is strength in numbers. For more information about the Virginia Self Storage Association contact any of the following: John Aspinwall ([email protected]), Eric Miller (ericmiller@atlanticstor. com), Richard Sellers (rsellers@u- store.com), Carolyn Winks (carolyn- [email protected]), Bruce Jennings ([email protected]), Mac Walker ([email protected]), or Gordon Bowers ([email protected]). Washington wa-ssa.org WA-SSA continues to work for its membership year-round, not just during the annual conference in the spring. Our lobbyists monitor activity in Olympia whenever the legislature is in session, and they keep eyes and ears open even when
PAGE 56 SSA GLOBE JUNE 2012 it isn’t. The board continues to meet Taking place in the heart of Sydney CSSA Annual General Meeting. To and discuss industry issues and ways at the acclaimed Hilton Hotel with be held at the SSA 2012 Fall Confer- to improve service to our members. magnificent views and convenient ence & Trade Show (Caesar’s Palace, We sincerely appreciate feedback to access to Sydney’s famous attrac- Las Vegas, Nevada) give us direction in how best to serve tions including the Sydney Harbour October 17–19: CSSA 7th Annual our members. Bridge, once you step inside you Alberta Conference & Trade Show will never be the same. Our line-up Membership in the Washington Self and the CSSA Operators Certifica- includes leading speakers and Storage Association is a nominal cost tion Course (Black Knight Inn, 2992 presenters from the business world but a tremendous resource for those 50th Avenue, Red Deer, Alberta) of today plus loads of self storage who own and/or operate self storage professionals to provide insight, Contact: (888) 898-8538, [email protected] in Washington State. education and promote discussion and growth. Some of our renowned speakers include Paul Lucas who is Japan Wisconsin an advisor with the Family Business japanssa.org wiselfstorage.org Association, Karen Schmidt who is a dynamic workplace consultant Japan Self Storage Association The WSSA represents more than 200 and Matt Church who gives moti- is currently boasting 58 member self storage operators in Wisconsin, vational presentations at confer- companies of which 36 joined in the and our membership continues ences around the world. In addition, last six months, and clearly we are to grow. Join us in protecting and we have several self storage expert gaining momentum. To boost our enhancing the self storage industry panel sessions on a number of issues growth, we hosted a workshop in in Wisconsin. such as discounting, diversification, Tokyo in February aimed at network Just a few benefits of membership starting a self storage business, legal building and best practices sharing include your storage location listed obligations and much, much more! among the member companies on the website for potential storage In addition, we will bring you the and in our industry. JSSA president searches, numerous guidance and biggest self storage trade show in Naomichi Hayashi kicked off the legal documents, “Ask the Board” the Southern Hemisphere where a session and welcomed the partici- questions via the website, discounted range of quality suppliers and trades pants, followed by presentations property insurance, a comprehensive personnel will be on hand to show- of selected member companies lease designed specifically for self case their products and services to providing a glimpse of their firm. The storage in Wisconsin and more. you. A host of prospects awaits to workshop received positive reactions, and it is expected that similar work- Mark your calendars for our 2012 help your business reach new levels. shops will be held in the future. meetings: Spring Business Meeting, Take this opportunity to consolidate Wednesday, May 9 in Milwaukee and your learning outcomes throughout Contact: Katsumi Watanabe, info@ the Fall Conference & Tradeshow, the day with the practical, hands- japanssa.org October 12 in the Wisconsin Dells. on advice from the trades people including experts from industries Contact: (414) 755-3364 such as security, software, locks, Latin America insurance and construction who will be geared up to demonstrate laselfstorage.org Australasia and promote the very best of their LASSA is a diversified group of indi- selfstorage.com.au services to you. Don’t miss out on an viduals, all involved in the self storage eye-opening trade show experience. industry in one way or another. We The Self Storage Association of are owners and investors and vendors. Australasia is hosting its 23rd annual Contact: Luisa Natoli, luisa_natoli@ We are from small companies and Convention & Trade Show in Sydney selfstorage.com.au large corporations. And we are from Australia August 7-9, 2012. All USA different Latin American countries. members will receive special member But we all have a common objective, prices. So why not take this oppor- Canada and that is to improve the self storage tunity to come ‘down under’ and cssa.ca industry as a whole throughout see for yourself why self storage is Mexico and Latin America. v going from strength to strength in Save the dates. September 5–7: Cana- Australasia? dian VIP Networking Reception, Canadian Topic Roundtables and the
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Sponsors: G5 and E-SoftSys Announce Software Integration Solution
G5, a provider of digital experience management (DXM) software and services in the self storage industry, and E-SoftSys, a software provider for self storage properties, announced the release of a software integration solution that connects the Self Storage Manager (SSM) eCRM Facilities in U.S. and Canada Align With module with the G5 Digital Experience Management U-Haul Platform. eCRM allows operators to track leads, reservations, and marketing campaigns while giving employees the ability to follow up with prospective customers, take payments, manage collections, and handle customer-related inci- dents online. The G5 SSM eCRM integration will streamline measure- ment, tracking, and database management for mutual clients by allowing owners and operators of multiple facili- ties to report on data captured via G5’s Call Tracker in the U-Haul announced that the following facilities recently eCRM system. G5’s Call Tracker data will automatically added truck and trailer rentals: ABC Mini Storage in populate the eCRM system with campaign metrics that Oregon (owned by Marilynn Holm Anderson); CW allow mutual clients to see all campaign performance data Storage in Wisconsin (owned by David McGrath); Migson in a single system. Public Storage Scarborough in Ontario, Canada (owned “We’re committed to developing self storage technology by Peter Segal); and Retro U Stor It in Tennessee (owned solutions that focus on measurable results and provide by Scott Hoffman). clients with the insight they need to improve business performance,” said G5 CEO Dan Hobin. “We were thrilled Marcus & Millichap Facilitates Florida Sale to partner with E-SoftSys in developing an integration that will ultimately help our clients boost their bottom line.” Marcus & Millichap Real Estate Investment Services announced the sale of Storage Haven, a 37,210 square “This new integration will help our clients streamline foot self storage facility in Odessa, Florida, for $1,660,000, campaign performance reporting across multiple facili- according to Bryn D. Merrey, vice president and regional ties,” said E-SoftSys president & CEO Kat Shenoy. “They manager of the firm’s Tampa office. can spend less time evaluating marketing campaigns and more time developing, refining, and executing them.” Michael A. Mele, first vice president investments and senior director of the National Self-Storage Group and Adam Wides, investment specialist in Marcus & Milli- SBS Construction Breaks Ground on Taft chap’s Tampa office, had the exclusive listing to market Storage the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by the listing agents. Storage Haven was built in 2001, expanded in 2003 and is 94-percent physically occupied. This investment has 296 self storage units, of which 93 are climate controlled, 189 are non-climate controlled and 14 are RV/boat parking SBS Construction announced the groundbreaking of its spaces. newest construction project, Taft Self Storage located at 11707 Culebra Road in San Antonio, Texas. The 524-unit, “This deal is clear evidence that demand for smaller deals multi-story project encompasses 77,675 square feet of is back,” said Mele. “This was also a first time self storage storage. Providing climate- and non-climate controlled buyer. We have not seen that since 2007, a clear sign that units, this facility is located in the growing North West the market continues to improve.” quadrant of San Antonio. Owned by Taft Storage LP, this “This was our first deal that included SBA 504 financing, facility is scheduled to be completed during the fourth quarter of 2012 and will be managed by Professional and we can’t be more satisfied with the process,” said v Wides. “The access to capital opens up a whole other buyer Management, Inc. pool for sellers.”
JUNE 2012 SSA GLOBE PAGE 59 ARE YOU PLANNING ON HIRING THIS YEAR?
If the answer is yes, you need to know about the self storage pre-employment testing and assessment service— created exclusively for the self storage industry!
HIRE THE RIGHT PEOPLE… KEEP THE RIGHT PEOPLE…
SSA FACILITY MANAGER APTITUDE eTEST eTest is a web-based screening program that provides self behavior. Better hires result in reduced turnover and improved storage owner-operators or hiring managers with real-time productivity by putting the right person in the right job. pre-employment testing and assessment services. Our test has SSA’s eTest requires no setup or licensing fees so administration been specially customized for evaluating potential self storage is straightforward and easy to use. Each customized facility facility managers. manager eTest is $75. When you buy an eTest, you also have The SSA eTest will provide a fast, reliable and cost-effective the option to add a Developmental Report (free), a Sales Report means of measuring common-sense traits linked to job ($25 each) or a Leadership Report ($25 each).
How Does SSA’s “eTest” Work? ➤ Complete one-time account registration at ➤ Test takes approximately 20 to 30 minutes to complete http://www.etest.net/signupSSA.asp ➤ Test is scored immediately ➤ On the sign up page (the page the above link takes you to), scroll ➤ Results are sent real-time via email to owner-operator/hiring down and fill out the form then click the “Submit” button manager to be utilized for more focused and effective interviews ➤ You will receive an email within one business day with your log-in ➤ Feedback comes as an Interview Guide which consists of: information, instructions and site link ➤ Narrative description ➤ Set up your test by going to www.etest.net, clicking on the “Client Log In” button, and entering your login information ➤ Interview questions to address extremes in responses ➤ Candidate takes test in browser at any location (preferably ➤ Actual scores which include a “good/bad” fit Facility Manager proctored) scale
To find out more or to sign up today, go to www.selfstorage.org The Self Storage Association thanks this month’s sponsors for advertising in the SSA Globe. Company Phone Website Page All From 1 Supply 877-256-3991 allfrom1supply.com 64
Argus 800-55-STORE argus-selfstorage.com 26 ARE YOU PLANNING ON HIRING THIS YEAR? Bader Company 888-223-3726 baderco.com 23
If the answer is yes, you need to know about CDS Moving Equipment 800-225-3659 cds-usa.com 16 Centershift 877-927-4438 centershift.com 46 the self storage pre-employment testing and Chateau 800-833-9296 chateauproducts.com 44 assessment service— created exclusively for Charity Storage 949-748-5923 charitystorage.org 58 the self storage industry! CubeSmart 877-244-8799 cubesmart.com/management 31
Domico 800-688-6181 domico.com 9
HIRE THE RIGHT PEOPLE… Kiwi Construction 877-465-4942 kiwiconstruction.com 24
Lock America 800-422-2866 laigroup.com 13
KEEP THE RIGHT PEOPLE… Marcus & Millichap 303-328-2050 marcusmillichap.com 19
Miller Building Systems 800-323-6464 millerbldgs.com 12
MiniCo Insurance Agency, LLC 800-447-8383 minico.com 25
SSA FACILITY MANAGER APTITUDE eTEST On the Move 800-645-9949 onthemovetrucks.com 18 eTest is a web-based screening program that provides self behavior. Better hires result in reduced turnover and improved Open Tech Alliance 602-749-9370 opentechalliance.com 21 storage owner-operators or hiring managers with real-time productivity by putting the right person in the right job. PayPros 800-513-2579 paypros.com/selfstorage 43 pre-employment testing and assessment services. Our test has SSA’s eTest requires no setup or licensing fees so administration been specially customized for evaluating potential self storage is straightforward and easy to use. Each customized facility Phone Smart 866-639-1715 phone-smart.info 36 facility managers. manager eTest is $75. When you buy an eTest, you also have SBOA Tenant Insurance 800-780-1965 sboati.com 63 The SSA eTest will provide a fast, reliable and cost-effective the option to add a Developmental Report (free), a Sales Report means of measuring common-sense traits linked to job ($25 each) or a Leadership Report ($25 each). Sentinel Systems Corporation 800-456-9955 sentinelsystems.com 11
SiteLink 919-865-0789 sitelink.com/msm 2
Steel Systems 888-624-8677 steelsys.com 36 How Does SSA’s “eTest” Work? Storage Treasures Inc. 800-213-4183 storagetreasures.com 15 ➤ Complete one-time account registration at ➤ Test takes approximately 20 to 30 minutes to complete http://www.etest.net/signupSSA.asp ➤ Test is scored immediately Syrasoft 800-817-7706 syrasoft.com 5 ➤ On the sign up page (the page the above link takes you to), scroll ➤ Results are sent real-time via email to owner-operator/hiring down and fill out the form then click the “Submit” button Therma-Stor LLC/Quest Protect 866-933-7486 questprotect.com 45 manager to be utilized for more focused and effective interviews ➤ You will receive an email within one business day with your log-in ➤ Feedback comes as an Interview Guide which consists of: U-Haul 800-528-0361 uhaul.com 13 information, instructions and site link ➤ Narrative description ➤ Set up your test by going to www.etest.net, clicking on the “Client Uncle Bob’s Management 877-270-4665 unclebobsmanagement.com 17 Log In” button, and entering your login information ➤ Interview questions to address extremes in responses Universal Storage Containers 800-385-0755 universalstoragecontainers.com 7 ➤ Candidate takes test in browser at any location (preferably ➤ Actual scores which include a “good/bad” fit Facility Manager proctored) scale Sponsors of the SSA Globe magazine help reduce the annual cost of producing and distributing important information to SSA members. As the only nonprofit magazine in the industry, all revenues generated by the SSA Globe, or any other SSA events or products, are recycled into programs that benefit the industry, and in particular, the SSA membership. Published SSA Globe advertising rates are the discounted rates for vendor members and are nonnegotiable, as all vendor members are treated equitably. The SSA offers this directory as a free service to our advertisers and readers and cannot be accountable for omissions or errors.
To find out more or to sign up today, go to www.selfstorage.org
JUNE 2012 SSA GLOBE PAGE 61 Last Impressions
Reise Box Tokyo, Japan
1901 North Beauregard Street Suite 450 Alexandria, VA 22311
Call Toll Free: 877-256-3991 or Visit Us Online: www.AllFrom1Supply.com