was asked a question at a recent self-storage conference that I have thought about regularly over the last several years. The question: Are the threats we face as an industry specific to self-storage or more general in nature? The answer is not either/or but both/and.
Our industry has faced threats that are both unique to us and part of broader regulatory trends. Oftentimes, the industry-specific threats are based on misconceptions or a limited understanding of the storage industry. For example, I recently wrote about the moratorium on self-storage development in Atlanta. This is illustrative of threats based on misconceptions that storage is ugly, wasteful, or disruptive to an urban streetscape.
Sometimes, though, the industry commits unforced errors when we leave customers with a lack of clarity regarding key terms such as promotional pricing or which party is responsible when stored property is stolen or damaged. As I have previously written on this page, legislators and regulators can be too quick to put a scarlet letter on the industry because of a few negative customer experiences. However, this does not absolve us from continually examining ways to enhance the customer experience. To that end, I have been heartened recently to hear about improvements to the customer experience adopted by operators large and small.
The industry has also found itself swept into broader regulatory trends, such as regulation of so-called junk fees and algorithmic pricing. The SSA’s efforts in these areas have focused on emphasizing the pro-consumer features of self-storage, for example, different pricing features depending on whether customers’ needs are short term or long term and flexible, month-to-month leases. The danger of overbroad regulation is that the current competitive landscape of the storage industry gets replaced by a one-size-fits-all model that reduces consumer options.
In addition to our direct efforts to respond to these threats, the SSA is taking steps to improve consumers’ and legislators’ understanding of the industry through SSA’s “Storage Is” campaign. We know the important role that you play in your community and want to be more intentional about highlighting your contributions.
I encourage you to share with us how you serve your customers and the work you do in your community. You can reach me at jdoherty@selfstorage.org.
