q3 industry news
News
  • Incode Partners With Tenant
    Incode, a provider of online identity verification solutions that were developed by leveraging advanced AI and machine learning technologies, has partnered with Tenant, Inc., to enhance its tenant onboarding process. The partnership will support Tenant, Inc. when it comes to securing tenant information, ensuring compliance, protecting against fraud, simplifying KYC (know your customer) processes, reducing paperwork, speeding up verifications, reducing onboarding times, boosting efficiency, and enhancing user experiences.
  • Storable Releases Tenant Insights Report
    Storable has released its new “Tenant Insights Report 2024,” highlighting the various complexities facing operators today as multiple headwinds impact the industry’s outlook. More than 1,000 tenants in the U.S. were surveyed for the report. Designed to help operators and their teams better understand the ever-changing self-storage landscape, its results offer insights into storage demand, technology’s role in management, and the shifting expectations of customers. To download the report, visit https://info.storable.com/tenant-insights-report.
  • Customs Seize Drugs From Storage

    A customs officer stands beside a table covered with seized drugs, displayed in clear plastic bags, as part of a press conference.

    A 19-year-old male was recently arrested after customs seized about 4.4 kilograms of suspected crack cocaine and about 600 grams of suspected synthetic cathinone (also known as “zombie drug” bath salts) in Sai Wan, Hong Kong. Customs seized the batch of drugs, which were worth an estimated HK$6 million, approximately $768,055.45 (USD), from a mini-storage locker in a Sai Wan industrial building during an anti-narcotics operation. The 19-year-old arrested was said to be the lessee of the mini-storage locker.
  • Store House Raises Funds For Rescue
    The Store House Kong, a subsidiary of General Storage Company, which operates a network of self-storage facilities in Singapore and Malaysia under the Lock+Store brand name, is holding a fundraiser to benefit Hong Kong Dog Rescue (HKDR). In addition to raising awareness about pets and pet care, the fundraiser will be selling limited-edition dog keychain bags for HK$100 each. They can be purchased from the company’s western district mini storage facility in Sai Wan or at HKDR shelters across the city. Proceeds of each bag will be donated to the HKDR, helping the organization provide food, shelter, and medical care for dogs.
  • SteelBlue Unveils New Door
    SteelBlue Building Components LLC, a manufacturer of self-storage roll-up doors and hallway systems, has added a new product to its inventory. Designed for easy installation and operation, SteelBlue’s new 9530 Series roll-up door has panels that are seamed together. Its noteworthy features include a shorter door guide, wear strips, symmetrical headstop, round drum, and a tensioning device that requires no special tools. The 9530 Series roll-up door comes in 26-gauge, grade-80, and pre-painted steel in a variety of colors.
  • SSA Announces Law Amendments
    This spring, the Self Storage Association (SSA) announced new self-storage law amendments in two states: Kansas House Bill 2545 was signed into law by Gov. Laura Kelly and Georgia House Bill 934 signed into law by Gov. Brian Kemp. Both HB 2545 and HB 934 took effect on July 1, 2024, and set forth a process for disposing of property remaining in a unit after the end of the rental agreement. According to the SSA, the language in HB 2545 and HB 934 primarily deals with tenants whose agreements were terminated or not renewed for a reason other than non-payment and who left property in their unit. Both bills recognize that agreements may be delivered and signed electronically and establish a process regarding the enforceability of unsigned rental agreements.
  • Vantiva Launches Management Platform
    Global connectivity technology company Vantiva has launched its Vantiva Smart Storage™ Version 1.0 operations management platform, which is compatible with new and existing devices and subsystems and designed to improve self-storage portfolio efficiencies by unifying its technology systems onto one dashboard. This allows operators to monitor all their locations at once, with data insights, such as identifying inefficiencies, at the site, regional, and portfolio level. Vantiva Smart Storage V1.0 enables site operators to reduce utility costs through remote HVAC monitoring and control, automate time-consuming daily tasks like lock-checks and walk-throughs, respond to real-time alerts addressing events that could damage the facility, increase safety and security through intrusion detection and motion-based video capture, and simplify and improve employee experiences through unified subsystem management. To learn more, visit www.vantiva.com.
  • Janus Acquires TMC
    Janus International Group, Inc. has acquired Terminal Maintenance and Construction (TMC), a premier provider of terminal maintenance services for the trucking industry in the Southeast. Headquartered in Madison, Ga., TMC’s offerings include trucking terminal renovation, remodeling, and maintenance services. While initially continuing to focus on commercial customers, TMC’s integration will ultimately help support the growth of Janus’s Facilitate division, which offers complete facility maintenance services.
  • Andover Starts Lending Program
    Andover Properties, which operates more than 13.5 million rentable square feet across 162 facilities in 18 states under the Storage King USA brand, has launched Andover Storage Lending, a program that was developed to originate non-recourse financing for self-storage sponsors nationally. It’s designed to provide bridge and construction financing for up to 90 percent of value without requiring third-party management or bank deposits. The program’s first loan origination went to Madison Capital/Go Store It to refinance a Class-A facility in Richmond, Va. Andover reports that several other loans in negotiation are expected to close in Q2 and is actively quoting bridge and construction loans for storage facilities across the U.S.
  • Pogoda Expands Portfolio
    Michigan-based Pogoda Companies, a provider of self-storage management services, recently added two new management contracts to its portfolio, increasing its size to 72 self-storage properties throughout Michigan, Ohio, Kentucky, and Indiana. National Storage–New Center in Detroit has 19,200 square feet of climate-controlled space in 189 units, with room to expand; this prime location is housed within the bottom two floors of the historical Albert Kahn building, previously occupied by Saks Fifth. National Storage–Woodman in Dayton has 68,200 square feet in 677 units and is a mixture of drive-up spaces, climate-controlled units, and RV and boat storage; it is expected that 15,000 square feet of drive-up storage will be added by late fall. Each location has 24-hour digital surveillance and will offer a full line of boxes and packing supplies. Both facilities have been rebranded under Pogoda’s National Storage flag and added to its website.
  • Iron Storage Launches Software
    Iron Storage, a privately owned self-storage company with facilities across six states, has launched its new management software, enabling the company to remotely manage its facilities. The software is designed to streamline facility management, ensuring that Iron Storage can maintain its high standards of cleanliness, security, and customer service across all locations. A press release further states that the platform will enhance operational effectiveness, benefitting customers through improved service quality.
  • MSM Releases New Handbook

    The 2024 RV and Boat Development Handbook displayed on a computer monitor, tablet, and smartphone screen with a virtual edition banner in the top right corner.

    MSM, the company behind Messenger magazine, the industry’s longest-running publication, has released the 2024 edition of its RV and Boat Development Handbook. At 112 pages, it’s the largest publication dedicated to this real estate sector. The handbook offers a wealth of information about developing RV and boat storage and uses the most current information and data available, gathered from experts in the industry who have extensive experience developing these specialty storage facilities. Purchase a print, digital, or combo copy of the 2024 RV and Boat Development Handbook at www.modernstoragemedia.com.
  • Company Redefines Remote Management
    White Label Storage, a premier third-party management company specializing in remote self-storage management nationwide, is redefining the industry standard with its innovative approach. Co-founded by Alex Harman and Peter Smyth, the company now has a portfolio of over 90 facilities under management, leveraging years of experience to help self-storage owners maximize profitability while managing the complexities of day-to-day operations. White Label Storage provides a comprehensive suite of services, including customer support and call center services, revenue management and maximization, expense analysis and reduction, property maintenance coordination, expert marketing, delinquency and auction management, bookkeeping and comprehensive reporting, and technology assessment and improvement. Visit www.whitelabelstorage.com for additional details.
  • KISS Offers New Lock

    A metal self-storage door latch assembly with a padlock, lock cylinder, and latch mechanism.

    After successful pilot programs in Q4 of 2023 and the first significant sale in January of 2024, Keep It Simple Storage (KISS) has announced the launch of its NFC OneLock, which offers unique convenience and security features, such as battery-free operation through near-field communication (NFC) technology, Bluetooth-free operation, and no hardwiring requirements. OneLock offers three different configurations and no hardwiring necessities, allowing operators to complete a rollout in less than half a day. KISS has integrated its NFC OneLock with a number of self-storage management software platforms, including Sitelink, StorEdge, and Space Manager. Plans for integration with SSM are underway, slated for completion by the end of the calendar year. For more information about the NFC OneLock, visit www.keepitsimplestorage.com.
  • Storagely Integrates Calcumate
    Storagely, the self-storage website solution that guarantees an increase in rentals through its platform, has integrated Calcumate, a leading 3D storage calculator (size guide), directly into its technology. The Calcumate functionality is currently being rolled out to Storagely’s existing customers. With Calcumate, Storagely can allow prospective tenants to calculate and visualize the best storage options for their belongings. Additional details can be found at storagely.io/calcumate.
  • Storable Acquires StorageAuctions.com
    Storable recently acquired StorageAuctions.com, an online platform for self-storage auctions. By integrating StorageAuctions.com’s online auction services, Storable expects to improve upon its existing offerings by including an auction module that addresses clearing delinquent units. The acquisition was finalized on June 4, 2024. StorageAuctions.com will operate as a division of Storable. Current customers of both companies can expect seamless continuation of all existing services and support.
  • Storable Launches ITV Technology
    Storable has launched an Insured-To-Value (ITV) technology for the self-storage market, eliminating the longstanding challenge of ensuring tenants have adequate insurance coverage for their stored belongings. By dynamically adjusting minimum coverage requirements based on unit size, ITV protects tenants from being underinsured while unlocking a new revenue stream for operators through higher premiums. This new solution, widely used in property insurance but never before available in self-storage, offers a way to safeguard tenant assets and boost profits. For details, visit www.storable.com.
  • SafeLease Reputation Now Available
    SafeLease has launched SafeLease Reputation, a suite of tools to help self-storage facilities manage and protect their online reputation. SafeLease Reputation helps facilities collect, monitor, and display customer reviews online. This new enhancement furthers SafeLease’s mission to increase the value of self-storage assets by enabling operators of all sizes to bolster a strong online reputation that increases search engine visibility and improves occupancy. SafeLease Reputation is specifically built for storage facilities and leverages key tenant lifecycle moments to optimize the feedback-collection process while reducing store managers’ workload. To learn more about SafeLease Reputation, visit safelease.com/reputation-management.
  • Ching Named Woman Of Influence

    A professional headshot of a smiling woman wearing glasses and a blue blazer, set against a dark background.

    The Investment Real Estate Group of Companies (IREGC) recently announced that Mary Beth Ching, who has been with IREGC since 2021, was named a “2024 Woman of Influence” by the Central Penn Business Journal. The award is given annually to women based on their professional experience, community involvement, and commitment to mentoring. As chief of staff, Ching partners with leadership to maintain the company’s culture and core values. She also works with investors, vendors, financial institutions, partners, state boards, and member associations in the local community and nationwide. A board member of the Appell Center for the Performing Arts of York, Pa., she earned her bachelor’s degree from York College. Ching has been a longtime advocate in LGBTQ+ affairs and helped create “Pride Night for the York Revolution” and served on the board of “The Black and White Party” from 2007 to 2013, raising funds and support for HIV/AIDS-related organizations.
  • New Legislation Takes Effect
    On July 1, new legislation took effect in Georgia, Idaho, Kansas, and Virginia: HB 934, signed by Georgia’s Gov. Kemp; HB 576, signed by Idaho’s Gov. Little; HB 2545, signed by Kansas’ Gov. Kelly; and SB 355, signed by Virginia’s Gov. Youngkin.

    These set forth a process for disposing property remaining in a unit after the end of the rental agreement, primarily deal with tenants whose agreements were terminated or not renewed for a reason other than non-payment and who left property in their unit, recognizes that rental agreements can now be sent and signed electronically, establish a process regarding the enforceability of unsigned rental agreements, and permit towing for reasons other than nonpayment. Additionally, several amendments were effective in May and June in Maryland, Utah, and Washington, D.C.: HB 633, signed by Maryland’s Gov. Moore; HB 265, signed by Utah’s Gov. Cox; and B250432, signed by Gov. Bowser in D.C. Consequently, self-storage operators can now send default notices to tenants via U.S. mail with a certificate of mailing, host online auctions instead of on-site sales, and tow certain titled vehicles off their premises. These also eliminate the need for a newspaper ad to be published prior to a lien sale. Another House bill, HB 2087, goes into effect on Sept. 14 in Arizona. Signed by Gov. Hobbs, it permits a facility’s rental agreement to limit the value of stored property and tow vehicles after 30 days in default, as long as the notifies the occupant at the last known address by verified mail or email at least 10 days prior to the towing.

  • CSSA Joins Coalitions
    The California Self Storage Association (CSSA) has been involved with several organizations on key legislative issues to enact change. After months of discussions between labor advocates, the Fix PAGA coalition, representing non-profits, social justice advocates, family farmers, health care providers, and businesses, together with Gov. Gavin Newsom, Senate President pro Tempore Mike McGuire, and Assembly Speaker Robert Rivas, proposed and passed legislation to reform California’s broken Private Attorneys General Act (PAGA). The legislation would reform PAGA to ensure workers retain a strong tool to resolve labor claims and receive fair compensation, while limiting the shakedown lawsuits that hurt employers and employees. It replaces PAGA with alternative enforcement mechanisms through the state, ensures 100 percent of penalties go to workers, speeds-up recovery of wages and penalties for workers, and doubles penalties where employers willfully violate the law. The Homelessness, Drug Addiction, And Theft Reduction Act targets organized and serial retail theft, confronts the Fentanyl crisis, and prioritizes mental health and drug treatment. CSSA has joined the Californians for Safer Community, a bipartisan coalition of small businesses, public safety organizations, elected officials, victim advocacy groups, and hundreds of thousands of residents, to reform Prop 47. In addition, CSSA joined the Govern for California Network, a coalition with dozens of organizations and businesses, including close partners the CA Business Roundtable, CA Business Properties Association, and the CA Chamber of Commerce, to support a letter of opposition to the bill. Due to the 247 letters from the Govern for California Network, the bill failed to advance in committee.
  • SSA And SSAF Announce Awards

    A split image featuring two individuals: a woman in a large black hat on the left and an older man with glasses wearing a red jacket on the right.

    The Self Storage Association (SSA) and the Self Storage Association Foundation (SSAF) celebrated two industry awards in Las Vegas during the SSA Fall Conference & Trade Show. M. Anne Ballard, an active and influential member of the industry for more than three decades, entered the Self Storage Hall of Fame on Sept. 4. The founder of Georgia’s Universal Storage Group, Ballard has served on the SSA board of directors and has been an instrumental leader of the Georgia Self Storage Association since its inception, including two terms as president. Arkansas’ Bill Humble received the Michael T. Scanlon, Jr. Award, which honors individuals who have made unique contributions to the SSA and the self-storage industry. Humble, owner of U-Storeit, based in Little Rock, Ark., was instrumental in self-storage legislative models that have been adopted in states throughout the country. Perhaps most significantly, he led the only successful effort to date to repeal a state-wide sales tax on self-storage customers. Named for the late president and CEO of the national SSA, the Michael T. Scanlon, Jr. Award was celebrated on Sept. 5 in Las Vegas.
  • Bills Pass In Missouri, Pennsylvania
    Missouri Gov. Mike Parsons recently approved a bill allowing self-storage operators to offer tenant insurance with a maximum coverage of $15,000. This law took effect on Aug. 28, 2024. Current law limits tenant insurance offered by storage operators to $5,000. Pennsylvania Gov. Josh Shapiro signed a bill dealing with the advertising component of the state’s lien law. Currently, the law allows operators to advertise their sales once in a newspaper and once online in lieu of advertising twice in a newspaper. House Bill 1818 provides that the operator may use the online ad to determine the sale date if the newspaper advertisement fails to be timely published by the newspaper. This provides relief to operators who are frustrated by errors committed by the newspapers. The bill took effect on Aug. 27, 2024.
  • Janus Introduces New Door Solutions
    Janus International Group, Inc. has introduced two new roll-up door solutions engineered to provide a heightened level of safety and security for self-storage facilities. The NS Series incorporates an enhanced design that includes anchored guides on the floor, ensuring stability and durability. A robust lower bar, equipped with secure clips that smoothly glide within the guides, combines with firmly anchored support angles on the floor to provide elevated strength and support.

    The NS Series comes in two options: the NS+ Door and the NS Retrokit. The NS+ Door is ideal for door replacements as well as new construction. This door includes six 9-gauge security clips that extend fully into the guide. It also comes with 14-gauge support angles screwed into the floor for maximum support, as well as a reinforced, roll-formed clear acrylic coated galvanized steel bottom bar. The NS Retrokit is not a door, but a package that can be installed on existing Janus doors. This package has many of the NS+ Door features, but the NS Retrokit includes two 9-gauge security clips that extend fully into the guide. Visit www.janusintl.com for more information.

  • Store Space Helps Hurricane Victims
    Store Space Self Storage, which owns, operates, and manages more than 75 properties in 21 states, is providing emergency assistance at its nine locations in Texas for local residents affected by storms surrounding Hurricane Beryl. For a limited time, the company is waiving its admin fee for new customers, on top of its current new customer promotion of 50 percent off for up to three months, plus a free lock and 30 days of Tenant Protection coverage (a $40 value). Store Space will also waive transfer fees to current guests needing to rent a larger storage unit. Guests can also stop by the office for up to five free boxes and bottled water (while supplies last).
  • Vantiva Releases Smart Camera

    A Vantiva security camera next to a smartphone displaying a live feed from a storage facility on the app.

    Vantiva has released Vantiva Peek™, a patent-pending smart camera designed for self-storage rental units that features integrated motion, humidity, and temperature sensors. Vantiva Peek is a complete in-unit monitoring solution, available exclusively from Vantiva’s self-storage operator partners. It allows renters to access live and stored camera images and live sensor data as well as receive real-time automated alerts via a monthly service subscription. Alerts and images are accessed through the Peek app; self-storage operators can choose to use the Vantiva-branded app, customize the app with their own branding, or integrate Peek into their existing renters’ app. In every case, the self-storage provider owns the customer relationship and earns recurring revenue for the lifetime of the service subscription. Vantiva Peek camera features include wide-angle lens to capture a clear view of the entire unit; night vision; long-range, low-power wireless technology; quick mounting with the built-in magnetic backing; and long battery life and easily replaceable AA batteries. For additional details, visit www.vantiva.com.
  • Public Storage Loses Lawsuit
    On July 11, following a four-day trial, a jury in Middlesex County, N.J., awarded $2.5 million to Jane Bishop, a woman who injured her left arm from falling at a Public Storage facility in Monmouth Junction, N.J. Rejecting the defense’s suggestion that Bishop, 66, was prone to falling, the jury unanimously ruled that negligence by Public Storage was the proximate cause of her injuries. They awarded her $2.5 million for past, present, and future pain and suffering and attributed 100 percent of the damages to Public Storage. Bishop broke her left elbow on Jan. 9, 2020, when she fell at the entranceway to the facility’s office. An engineering expert who testified at the trial said the step leading to the entrance was in disrepair, wasn’t up to code, and had multiple defects, which caused her foot to get caught. Following the fall, Bishop, who’s left-handed, had her left elbow joint surgically replaced and underwent two carpal tunnel surgeries to alleviate swelling from the initial, injury-related surgery. According to Bishop’s attorney, Public Storage only offered a “nuisance value” settlement before the trial. At trial, the company took the position that it was not obligated to make repairs to the entrance, he said. An employee said in a deposition that the staff walk around the facility every day to look for trip hazards, and the company said Bishop had fallen at the site before that incident. Public Storage was represented by Colin Hackett of Lewis Brisbois Bisgaard & Smith in Newark, N.J.
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