emember back in the day when you walked by a newsstand and were stopped by a headline on the front page? More than likely, you bought the paper to read the article. Newspapers depended on the sensationalism of their headlines for sales.

That still holds true today on social media—it’s “breaking news!” I remember when that meant you were watching a TV show and the national or local news station was “breaking into” your regularly scheduled program. Unfortunately, too many people use that phrase as an attention grabber, which reduces its sensationalism.

How does this apply to your blog or social media? The problem you have as a small business is content overload. You’re not just competing with your industry competitors for the attention of a searcher or a social media user. You’re competing with the kids, grandkids, friends, family, other pages, people they’ve liked, politics, breaking news, ads, causes, etc.

When you write a blog post, you want your enticing heading to stand out on the search engine results page (SERP) and when you share it on social media. You want to get that click-through, which will lead to a conversion.

Here are the elements of good headlines/titles:

• They are written for the human reader with the search engine in mind. Its main purpose is to entice the person.
• They have the right number of words, not too long that it gets cut off in the SERP.
• They have the major keyword or phrase (AKA the topic of the article).

The following is a prompt to use to generate a headline. Start with a keyword phrase or two from your SEO Keyword Research. (If you haven’t done this, use the Google Keyword Tool to discover the most searched-for keywords or phrases for your facility and location.)

You are an SEO expert with a reputation for getting sites to the top of search engine rankings. Please create four blog article headlines for my {website} based on my {keywords} and {location}. The purpose of these articles is to boost my site’s search engine rankings and authority, attract potential customers, and have a high click-through rate on the search engine results page. Please cite the sources of content.
{website}:
{keywords}:
{location}:

Always check the data. Earlier this year, I asked Google’s Gemini for blog post ideas for a client and it gave me “Top 3 Video Editing Programs for 2023.” Yes, 2023!

Here are tips on how to optimize those meta tags and get those clicks.

THE KEY PHRASE
This is the main topic of your page or blog post. It should be one or two words. It needs to be both in the title and the slug, which is the URL or link, as well as the meta description. This is for SEO, and it also needs to make sense to the human.

META DESCRIPTION LENGTH
Ideally, it should be 160 characters. Anything longer than that will get cut off. The Yoast plugin for WordPress will let you know if it’s too long by the color line under it. Orange is too short, red is too long, and green is just right. Look at the preview, and be sure that you don’t see the ellipsis (…) at the end of the meta tag.

THE DESCRIPTION
Here’s where you need to put yourself in your target reader’s shoes. They are looking for an answer to their problem. You don’t want to give the whole answer here, but just enough so they can see that:

• It’s what they need or want,
• The website holds more valuable information, and
• It will behoove them to click on it. In other words, there is a benefit to them clicking on through to the website.

What if you don’t have a WordPress website? If you are on a platform other than WordPress, more than likely, there is a place for you to enter the meta description of a page or blog post. It’s usually under a section called “SEO.”

What if there is no meta tag? If there is no meta tag, the search engine will display the first paragraph. Obviously, that brings up this question: Is the first paragraph on your page or blog enticing enough to keep the reader reading?

In the March 2025 issue of Messenger, I wrote about the Google Analytics Search Console and what you can learn from its data. You’ll see how many times your website comes up for certain keywords and phrases and how many click-throughs it got. Obviously, if your site is brand new, you won’t have this. That’s why you need to have your Google Analytics set up before you start any marketing efforts.

As you can see, there are a lot of moving parts in digital marketing. It takes some time and effort to get everything set up and running smoothly. Nevertheless, with the right goal-setting and strategic and tactical planning, you should start seeing results in two to three months. Each business is different, and there is no one-size-fits-all marketing strategy.

The following are two more AI prompts to help you generate various marketing content.

OPTIMIZE SOCIAL MEDIA PROFILES
(If you don’t have an about page on your website, enter the home page URL.)

You are an SEO expert with a thorough understanding of how to optimize social media profiles to improve search traffic. I want you to write social media profiles for {website about page}, including these {keywords} incorporated in a snappy description with relevant hashtags. I want profiles for:

• Facebook with a length of under 200 characters
• X (formerly Twitter) with a length of under 160 characters
• Instagram with a length of under 150 characters
• LinkedIn with a length of under 2,000 characters

{website about page}:
{keywords}:

CREATE A CONTENT PLAN
(The media mix could be your blog, Facebook, Instagram, LinkedIn, etc. Instead of keywords, you can put your website. Just make sure what you enter into the brackets { } matches in both places.)

You are an SEO expert with a reputation for getting sites to the top of search engine rankings. I want you to create a one-month content plan for me based on my {keywords}. The purpose of the content plan is to boost my site’s search engine rankings and authority. Start at today’s day and give me a list of suggested content that accounts for my {regularity of posting} and {media mix}.
{keywords}:
{regularity of posting}:
{media mix}:

You get the idea.

Play with various requests. For instance, try entering your facilities’ location and amenities and ask it to suggest who may be interested in your services—AKA your target market(s). Then ask it what is the best way to reach each of those targets.

As I’m writing this, Elon Musk released Grok 3 (https://x.ai/). I haven’t tried it, but they say it’s the best yet. Remember that AI is a tool. It’s still a computer talking, and you want to talk to people. Don’t forget to add your human touch to whatever AI content you’re using.

t’s a tale as old as time—good people who are great at what they do, yet they originally started out doing something completely unrelated.

“Self-storage landed in my lap. I didn’t seek a career in this industry by any stretch of the imagination.” This is how Jessican Johnson, business development manager for StorSuite, starts her story.

When you start listening to her career trajectory, it quickly becomes evident that it wouldn’t have mattered where she had ended up; she would’ve been extraordinary at it. This is proven by her adaptability, her commitment to learn continuously, and her dedication to lifting up everyone she encounters.

Her story is also evidence that despite how common it is to find people who are jaded with their line of work, it’s entirely possible to find something you truly love that’s fulfilling on both a personal and financial level.

Her first job out of college was in food franchising for Smoothie King. “It was awesome,” she says. “I had a lot of different roles with them. I was an operations consultant, doing audits of 75 stores to make sure there were no renegade menus and that they were all performing well. I also did product testing, trained staff, and store openings, and I eventually became senior vice president of operations and marketing.”

The job was rewarding but draining, so she started looking for another job. Soon enough, she started working at a tech startup. “It was an online marketplace targeted at professional employment organizations.” Working in B2B tech would be a great opportunity to show off her marketing chops.

Although the startup didn’t work out, her role at Storage Pros did.

“I was fine being president, and I would do it again, but it’s a lot of work being the final decision-maker for all marketing and operations, contracts, sales, admin work, human resources, and payroll.”

Despite the avalanche of responsibilities, she ended up loving the industry and decided she wanted to stay in self-storage long term.

“With SBOA, I vetted vendor partners that we wanted to recommend to our members. We also started a very successful educational webinar series, Self Storage Unlocked, which still runs bi-weekly and you can find on the SBOA’s YouTube channel,” she says. “We also created a training program for newer owners and operators, Self-Storage for Rookies. I wrote the scripts with my team to help people get well acquainted with the industry.”

This program also included how to avoid common mistakes when first starting out in the industry, guidance on third-party management, and how to build a profitable self-storage portfolio.

Johnson has also been involved with several volunteer opportunities with the Self Storage Association (SSA) and led the marketing committee with the SSA’s Young Leaders Group (YLG), posting social media content about upcoming events, as well as designing email campaigns with e-blasts to members. “I was only able to be in YLG for two or three years because I entered the industry in my late 30s, but it’s a great way to network and learn. It really is a great educational space for people in self-storage.”

Thanks to her extensive networking and participation in leadership and industry events, Johnson met John Manes, chairman of the board, and Christina Alvino, CEO at StorSuite.

“We had been talking about partnering and working together,” she says, “and this past August, everything lined up, so I decided to make the move and come onboard.”

It was a career move that turned out well. She loves that the company culture puts people first—employees as well as clients and peers in the industry.

“Everyone here is well taken care of,” says Johnson. “We even play well with our competitors. We always want to make sure we’re good stewards of service.”

However, that’s not something that she considers unique to the Florida organization. “I recommend anyone in the self-storage industry to join their state’s self-storage association,” she says, noting that she’s also been a board member of the Self Storage Association of Michigan for the past several years.

As for what advice she has for other women in the industry, she encourages them to “get some thick skin on you, sister.” She states that it’s been mostly a male-dominated industry, but that women are becoming more prevalent and have bigger voices. “Don’t be intimidated, even if sitting at a table of mostly men. Strap up, muscle your way in, and you’ll be just fine.”

While life in Florida can be pretty sweet, she misses the seasonality of Baltimore. “I don’t mind the occasional snow fall, and I love the color of the fall leaves,” says Johnson. “Florida is either hot or hotter, so I’m looking forward to where life will take us next.”

Wherever that is, the self-storage community will be richer with her presence and all the good things she has to offer.

orman A. Kotoch, Jr., worked as an attorney for almost seven years before joining his family’s self-storage business, Security Self Storage. At the company, he was able to grow it from a single facility to seven, three of which were built from the ground up. The building experience taught him skills of the craft literally from its foundation, as he was responsible for site selection, entitlements, and construction oversight.

However, the skills he developed from it that impact his day-to-day life the most now were his experiences overseeing the hiring of staff, training, and managing facilities. These roles gave him the chance to learn invaluable people skills, which are an integral part of his new business and the expertise most clients look to him for guidance.

Kotoch, Jr., entered consulting when he sold one of Security Self Storage’s facilities to Merit Hill Capital, the top operator that brought him on as a consultant for the business right away. He never thought of becoming a consultant up until that point, but it has become a big part of his work, and it’s where he truly found himself, even though he’s been a part of the industry for almost 30 years.

Kotoch, Jr., advises his clients to make sure to “at least acknowledge customers entering your facility if you are busy talking to other clients. A simple smile and letting them know they will be with them shortly makes a world of a difference.” Another important practice he ensures his clients put into place is to always get the person’s name and contact information for follow-ups, which he’s noticed most companies are failing to do. “Letting them walk out [of the facility without acquiring their personal information] is similar to catching a fish, letting it off the hook, and hoping you will catch the same fish later, rather than just bringing that fish in and being able to connect with that person at a later date.”

Instead of lowering prices, it’s better to research your competition and offer a service they might not have. “You should differentiate your product from your competitors,” says Kotoch, Jr. “[For instance], if your local competitors have standard storage, you have to put climate-controlled storage up. Find ways to create a better product, whether that is adding more security features or improving customer service. You have to differentiate yourself from your competitors, so you don’t solely need to use rates to compete. Because when you do that, it’s ultimately a race to the bottom. No one wins.”

One thing he always teaches managers is that you can’t be apologetic for rates. “Don’t be apologetic. Instead, be honest with customers,” says Kotoch, Jr. “Tell them you are not the cheapest option, but you will offer them the best products and the best customer service, and that sometimes your services are not for everybody. If they are shopping around the price, that’s OK. That has really worked in our favor because people appreciate quality, service, security, and cleanliness. If you excel at those, you don’t have to compete in price as much.”

Kotoch, Jr., believes a positive self-storage business customer service starts with empathy. “In addition, [customers] are typically going through a stressful time in their life, such as moving, relocating, divorce, remodeling, and even a death in the family,” he says. “It is our obligation to assist them, take control, and guide them through this process with comfort and knowledge. Building rapport is more important than trying to make a sale. If you take care of the first, the second inevitably follows, so always be human and don’t treat people like they are just numbers.”

For investors looking to join the market, he advises doing ample due diligence beforehand, as he has seen a fair share pull the plug on entering the industry after doing so. “I always tell people to get a feasibility study done before purchasing any land to find out what that market can bear,” he states, adding that it’s probably a good idea to get a specialized company to do so with no other ventures correlated to the business. “There are entities out there that offer those feasibility studies that aren’t management companies or construction companies. If you can find a third party that does nothing to the industry, it will probably be the best way to find out how the market actually works. And spending $10,000 on a study will be a lot cheaper than building a facility for several million dollars and finding out it’s not feasible later on.”

As for the future of customer service in the industry, Kotoch, Jr., says, “As technology creates more situations with less human interaction, finding a way to use technology and not lose that personal interaction is important. For instance, if you are going to use technology in a video screen to greet a customer, you can still reach out with a follow-up email, or even a phone call, or some type of gesture to show that they are appreciated on more of a personal basis. It’s OK to use technology, but still make sure to find a way to make it personal.”

elf-storage pricing is undergoing a transformation as operators navigate shifting economic conditions, consumer behavior, and competitive pressures. While the industry has long been considered recession-resistant, the latest data reveals a more nuanced landscape, one where supply expansion, evolving pricing models, and strategic revenue management are shaping the road ahead. With more than 66,000 facilities covering 2.6 billion net rentable square feet (NRSF) and an additional 4,000 projects in the pipeline, the sector is adapting to new challenges that could redefine pricing strategies in the coming years.

Rental rates have shown a slight dip over the past month, but the year-over-year (YoY) trend paints a more pronounced picture. Street rates have declined 2.5 percent to $1.38 per square foot (SF), while online rates have fallen 5.4 percent to $1.14 per SF, signaling an increasingly aggressive digital pricing approach. At their peak in Q3 2024, online discounts reached 20 percent before settling at an average 17 percent discount—a higher level than the previous year and part of a steady upward trajectory over the past three years. These trends highlight the growing importance of digital-first pricing strategies, as operators adjust incentives to attract tenants in a price-sensitive environment.

A major focus in the industry today is existing customer rate increases (ECRIs) as operators look to offset lower move-in rates and deep lease-up discounts. With interest rates somewhat stabilizing and housing trends shifting, long-term pricing optimization has become a priority. Leading REITs and operators are strategically balancing competitive introductory pricing with structured ECRIs, allowing them to sustain NOI growth even in competitive markets.

Self-storage remains one of the strongest performing real estate asset classes, ranking just behind data centers in investment appeal. Despite challenges such as market saturation, rising development costs, and regulatory pressures—including higher property taxes and stricter zoning laws—long-term demand remains robust. Key drivers include an aging population downsizing, evolving homeownership trends fueling decluttering, and increasing institutional investment, which continue to support the sector’s growth. While short-term pricing pressures persist, stable occupancy rates reflect self-storage’s adaptability, reinforcing its position as a resilient and attractive investment.

See Chart 1 – 12-Month Trend: Street vs. Online Rates.

See Table 1 – Rates by Unit Size.

By Top 20 MSAs
The top 20 MSAs account for 38 percent of the nation’s total NRSF, with Dallas and Houston leading the market, each surpassing 90 million square feet. Pricing trends across these key markets vary significantly, shaped by supply growth, demand drivers, and competitive pressures. While some MSAs remain undersupplied, supporting stable or rising rates, others face pricing declines due to increased competition and ongoing new development. Nationally, street rates have fallen 0.7 percent month over month (MoM) and 2.5 percent year over year (YoY), reflecting the broader impact of supply-demand imbalances.

See Table 2 – Top 20 MSAs by NRSF.

Markets Showing Resilience
Despite the broader industry slowdown, some MSAs have maintained rate stability or even posted growth. Tampa (4.4 percent YoY) and San Francisco (1.3 percent YoY) are among the few markets where pricing has held firm, reflecting strong local demand and more balanced supply levels.

REIT-Dominated Markets with Aggressive Pricing Strategies
MSAs with a high concentration of REIT-operated facilities (50-plus percent market share) tend to employ more aggressive online pricing strategies. In Philadelphia, REIT-controlled properties discount online rates by an average of 19 percent, while Atlanta operators have implemented an average 25 percent online discounting strategy. These same MSAs are also expected to see some of the highest supply growth in 2025, with new supply increasing between 8 percent (Washington-Arlington and Miami) to over 13 percent (Atlanta), putting further pressure on pricing.

Over-Supplied Markets Facing Competitive Challenges
The four MSAs with the highest square foot per capita (12-plus SF per person) are all in Texas. While Houston posted a modest 2 percent YoY rate increase, other major Texas markets (Dallas, San Antonio, and Austin) saw some of the steepest rate declines over the past year. With new supply expected to increase by an additional 4 percent in these metros, further pricing compression is likely as properties compete to stabilize lease-up rates.

Undersupplied Markets Presenting Growth Opportunities
MSAs along the East Coast, including New York, Philadelphia, and Washington-Arlington, remain attractive for future development. Despite ongoing construction activity, these markets still fall below the national average of 7.8 SF per capita, signaling further room for growth.

According to U-Haul’s Growth Index, South Carolina was the No. 1 growth state in 2024, surpassing Texas after three years at the top. Inbound moves (51.7 percent) were driven by affordable living; job growth in manufacturing, tech, and health care; and a favorable climate. Texas, North Carolina, Florida, and Tennessee follow, while California leads in net out-migration for the fifth consecutive year. Migration remains a key driver of self-storage demand, with relocations fueling both short- and long-term storage needs. As the Southeast and Southwest attract more movers, out-migration from California, the Northeast, and Midwest may intensify pricing pressure in oversupplied markets. Operators tracking these shifts can refine pricing, optimize occupancy, and identify growth opportunities in high-demand regions.

• Interest Rate Shifts And Housing Market Recovery – As borrowing costs decline, commercial real estate transactions are expected to increase, potentially boosting home sales and relocations, both of which are positive demand drivers for self-storage.
• Institutional Investment And Market Consolidation – More institutional capital is flowing into the sector, driving consolidation, operational efficiencies, and enhanced pricing strategies that improve long-term stability.
• Alternative Demand Drivers – Expansion beyond traditional residential storage into RV/boat storage, small business storage, and e-commerce fulfillment presents new growth opportunities in an evolving market.

While challenges persist, self-storage continues to demonstrate resilience, with operators who leverage data-driven pricing, optimize operational efficiencies, and identify high-growth markets best positioned for sustained success in 2025 and beyond.

or the Q1 2025 update, the Yardi Matrix Self-Storage Supply Forecast has increased in all years by roughly 5.0 percent. The increase is primarily driven by Yardi Matrix’s continued market coverage expansion, rather than a material shift in self-storage development fundamentals.

See Self-Storage New Supply Forecast Q1 2025 vs. Q4 2024.

See Self-Storage Under-Construction Pipeline.

For all markets tracked by Yardi Matrix, 40.47 million NRSF started construction through Q3 2024, while for the full year 50.75 million NRSF in construction starts have so far been identified.

See Self-Storage Construction Starts.

From Q4 2023 through Q3 2024, 57.2 million NRSF started construction in all markets tracked by Yardi Matrix. Given current completion times, this is the under-construction inventory most likely to be completed in 2025.

See Days In Construction.

Year-over-year advertised rental rate growth remains negative in most markets. In addition, the Federal Reserve has adopted a higher-for-longer policy stance in response as economic growth and labor markets have remained stronger than expected. The difficult advertised rental rate and financing environment will be a continued headwind for new development. The slowdown in construction starts in 2024 will persist into 2025, negatively affecting new supply over the longer term.

Quarter over quarter, the planned pipeline declined 1.8 percent, while year over year it expanded by 4.4 percent. Rapid growth in the planned pipeline coincided with increased self-storage development activity in 2022 and 2023. The flat planned pipeline in 2024 is one sign that self-storage new development interest has come off post-pandemic levels.

See Self-Storage Planned Pipeline.

See Days In Planned.

The prospective pipeline declined 10.2 percent quarter over quarter and 25.3 percent year over year. The prospective pipeline expanded as self-storage development activity increased in 2022 and 2023 and peaked in Q3 2023 at 49.47 million NRSF. The current level was last seen mid-year 2022. The prospective pipeline’s steady decline suggests fewer sponsors are taking the time and effort to find suitable development sites and begin the process of obtaining development entitlements. Fewer projects beginning the development process negatively affects new supply over the longer term.

See Self-Storage Prospective Pipeline.

See Deferred Storage Properties.

See Abandoned Storage Properties.

Advertised rental rate growth turned positive on a month-over-month basis for most markets in January. However, rate growth remains negative on a year-over-year basis. Additionally, the Federal Reserve has responded to the combination of persistent inflation pressures, a still-healthy job market and solid economic growth with a hawkish repositioning. This higher-for-longer policy stance combined with weak advertised rental rate growth suggests the 20 percent decline in new construction starts experienced in 2024 will persist into 2025, negatively affecting new supply in 2026 and into 2027.

A sharply declining prospective pipeline and still-elevated levels of deferred and abandoned projects suggest longer-term development interest is well off the peaks seen in 2022 and 2023.

As always, Yardi Matrix is extremely focused on accurately maintaining our development pipeline data and identifying any changes in self-storage development activity.

s there anything more exciting than storing old high school yearbooks, holiday decorations, and outdated furniture? It’s understandable that self-storage may be off the list of lively dinner conversations, but real estate investors would argue the industry is anything but boring.

In recent history, the self-storage asset class has become more institutionalized and attracted large amounts of capital, but it’s a relatively small asset class compared to others. For example, it’s estimated that the multifamily asset class is valued at more than $6 trillion, while self-storage, as discussed in this article, is valued at less than $550 billion and generates approximately $38 billion in annual effective gross income.

With 2024 officially wrapped up, I’ve put together an analysis to estimate the value of the entire self-storage real estate industry. Below is the methodology backed by data, coupled with some assumptions.

See Analysis table.

GPI also includes ancillary income from fees, insurance, billboards, retail sales, and other items. Ancillary income ranges anywhere from 0 percent of storage rental income to more than 10 percent of storage rental income, depending on the location and operator of the property. The four publicly traded REITs (Extra Space, CubeSmart, Public Storage, NSA) have ancillary income percentages that range from 4 percent to 12 percent, based on their Q3 2024 public filings. I’ve used 3 percent in my analysis as REITs represent a smaller portion of the overall industry. In addition, the 2024 Self-Storage Almanac uses 3 percent for ancillary income in their due diligence section.

Realistically, one could also apply an “achieved rate premium” to GPI, as this analysis is only utilizing street rates. The trend in 2024 showed that achieved rates were typically higher than street rates due to existing customer rate increases (ECRIs). For example, according to TractIQ’s Q3 Self-Storage REIT Report, REIT achieved rates were on average 15.6 percent higher than REIT street rates. I’ve intentionally left out applying an “achieved rate premium” to GPI because REITs only represent a fraction of the total industry, and this assumption is difficult to quantify and apply across every facility in the U.S. If you’d like to experiment with how this changes, I’ve made the model and all assumptions available here.

See Sensitivity Changes table.

See Comparison table.

He attended New York University (NYU) and stayed on as a research scientist and teacher at the Courant Institute of Mathematical Sciences. Downing left NYU to form a tech startup company called WebCal. “It was web-based groupware like calendars, schedulers, address books, and contact managers,” he says. “At the time, Yahoo was going from being a manually input directory to becoming a portal.”

To make the transition, Yahoo brought in a company that provided White Pages and Yellow Pages directories as well as an email client called Rocketmail, which became Yahoo Mail. They also merged with an online retail company.

“Then, they brought in my company, which was the glue with personal information management,” Downing says. “We did a pooling of interest merger at the time when Yahoo was transitioning from being a directory to being basically the first version of an internet media company, which we called a portal at the time.” The merger with Yahoo took place in 1989 while Downing was involved in other tech ventures as well, investing in startup businesses while funding and advising other small companies.

The men decided that if they weren’t picked up on the 16^th, which was their extraction date, they would have to hike to Anchorage. “It was 350 miles of mountains and glaciers,” Downing says. “It could take us a year.”

They started packing up camp. “I told Gerry, ‘I don’t know what happened, but we’re not gonna repopulate the Earth,’” says Downing. “We got ready to start hiking south, and then the bush pilot came, landed on the lake, tailed up to shore, shut down the engines, and told us they’d blown up the World Trade Center.”

He hadn’t witnessed the event on TV, so Downing pictured the towers falling and completely taking out lower Manhattan. “I was the last person on the planet to find out about the attack on the World Trade Center,” he says. “That hit me in the gut. I was hit with the sadness of the loss, the danger of being attacked, and the violation of being attacked on our own soil.”

Downing thought about his humble beginning compared to where he was then, on a costly hunting trip in Alaska, flying his own plane and considering retirement in his 30s. “I asked myself, ‘What have I ever done to deserve this?’ I got into my plane and flew it to Ketchikan, on the Canadian border, where trans-border flights had been stopped. I waited for the airspace to open, flew home, and then walked into a recruiter’s office.”

When meeting the recruiter, Downing said, “I used to teach at NYU. I’ve got a pilot’s license. What can you do with me?” The recruiter asked his age, and he replied that he was 34. “The recruiter said, ‘Good. Thirty-five is the cutoff,’” Downing recalls. “I was sworn into a combat search and rescue squadron, and next thing you know, I’m off at boot camp.”

Downing served eight years in the U.S. Air Force and Air National Guard in a Combat Search and Rescue (CSAR) squadron. He completed two tours of duty in Afghanistan and participated in Operation Enduring Freedom. Downing ventured “beyond the wire” numerous times to rescue wounded soldiers on the battlefield. When he wasn’t forward deployed (stationed in a foreign country to further national interests) or on alert, he volunteered at the U.S. military hospital in Kandahar or on outreach missions.

“So, the guy doing the self-storage deal is telling me about it,” Downing says. “I said, ‘OK, let me get this straight. If they’re a day late, I can lock them out. If they’re 30 days late, I can auction off their stuff, sweep it out, and rent to somebody else. And there’s no sheetrock, no carpeting, and no toilets.’ Eureka!”

Downing says the company’s value was in turning the management around. “We had a lot of opportunity to buy these small, one-off deals, put these into portfolios, and then sell them off to one of the REITs since they wanted to have larger transaction sizes,” he says. “We had a lot of success this way, so we kept our portfolio smaller.”

The most properties AC Self Storage held at one time was 77. When the portfolio became sufficiently large, the company looked at doing their own property and casualty insurance to reduce their premiums. Downing also saw the benefits in what Bader Insurance was doing with mandatory insurance programs, so they also created their own tenant policies.

He formed SAGE Insurance Servicing, a nationwide commercial insurance company that offered tenant insurance. “We started out as a captive and then had a couple of different programs,” Downing says. “We had a commercial liability program with Great American out of Indianapolis.”

While building his business, Downing moved to Montana in 2009; he, his wife Heather, and their four grown children live in Helena today. He ran for various offices in his adopted state and had just started the tenant insurance business when he was elected as state auditor for Montana, which oversees the Commission for Insurance and Securities. “When I got sworn into that four and a half years ago, I sold my insurance company interest to my partners because I didn’t think it looked right to be the insurance commissioner and own an insurance company,” he says.

In his first legislative session in Montana, he worked with the SSA to pass the Self-Storage Insurance Act. It allows self-storage operators to sell insurance to tenants but protects the consumer as well as the business by clarifying the programs. “I’m pretty proud that we got that passed,” Downing says.

Downing believed his business experience and unique perspective on how to solve problems would make him an asset in Congress. In a June 2024 primary, he won an eight-way race to seize the Republican nomination for eastern Montana’s 2^nd congressional district. He then won the seat handily in the November election with 66 percent of the votes.

After being sworn in this January, the new Congress hit the ground running and Downing describes things as getting “kind of crazy” from that point. “But we’ve got a great freshman class,” he says. He finds the time to meet up with other House members, including a comrade in the storage industry. In the alley behind the Capitol Hill Club, he says there’s a house where Republicans meet up. “I got Jefferson Shreve to come over, and we have a little self-storage ghetto,” he jokes.

Downing’s regulatory experience as state auditor, combined with his business experience, will be advantageous in his new role. He is a new member of the House Financial Services Committee and House Committee on Small Business. His technology experience will prove invaluable as well as he serves on the Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee.

Downing hopes to put all his experience to work in Washington. “I want to put together teams of smart people to come up with better solutions,” he says, “and in that way, give back to this great nation.”

Downing also wants to protect, for all Americans, the kind of opportunities he was given so freely. “I want to make sure that’s not being squandered,” he says, “so that a poor kid born of an unwed teenage mom has the same opportunities I did and can have the same success that I did.”

Downing believes the industry provides a lot of opportunity for success. “There isn’t a lot of secretiveness,” he says. “If you surround yourself in an industry with a lot of good people, you can do incredible things.” What he appreciates most about self-storage owners collectively is their tendency toward cooperation and allowing access to information. “It’s been kind of an open book,” he says. “Everyone helps for the good of the order.”

From Downing’s viewpoint, success in the industry is pretty straightforward. “I agree with the time-proven axiom that the secret to overnight success is turning a crank for 10 years,” he says. “You just have to be in the game and keep turning the crank. If you’re doing things the right way, paying attention to your revenue management, your expenses, and your deferred maintenance, you can do really well because time generally cures all evils or all ills.”

Downing believes the tendency to cooperate he’s seen among self-storage operators is the same way to get things done in Congress. He says things should be accomplished through working with others and understanding that it’s a team sport, rather than propagating heated battles over every issue.

His hope is to surround himself with smart people who want to do the right things. While improving the way House members work together is Downing’s short-term goal, his ultimate goal is smaller government. “I want more markets in play, more people in play, and less government in play,” he says.

Protecting free markets is sacred in Downing’s view. He is generally opposed to legislation that caps prices, whether in self-storage or elsewhere. “The government should never be in the place of telling any market how they should price,” Downing says. “The role of government in a free market is just to make sure people don’t lie. As long as they’re honest about how they’re doing their pricing, the markets should decide.”

Downing views his responsibility as a member of the House of Representatives as an extension of his obligations to his country. “I went into the military because this country’s been really good to me,” he says, adding that the success he’s had after growing up without family money or connections was a result of grit and work ethic. “I was very successful, and when September 11^th happened, I looked at my life and what I was able to do just because of the random luck of being born in this nation.”

For Downing, giving back to the country is just a given. He says the Air Force’s CSAR motto resonates strongly with him: “These things we do that others may live.” Downing plans to continue serving in the future in any capacity where his knowledge and experience is useful.

Storage Post, founded in 1998 by industry veteran Bruce C. Roch, Jr., understood Americans’ connection with baseball, so in 2023, he decided to partner with the New York Yankees, which is arguably the most popular MLB team in the country. It made sense—Storage Post owns and operates 30 self-storage facilities in the New York metro area, including five properties in the Bronx, the home of the Yankees.

As the official storage provider of the Yankees, Storage Post is featured throughout the stadium on the concourse televisions, LED animation in the Great Hall, and outfield terrace deck LED signage.

Dylan Delaune, Storage Post’s COO, says that Yankees fans are highly concentrated in the markets the company serves. “We are incredibly excited to be associated with such an iconic baseball team,” says Delaune. “Their pride and winning attitude coincide with Storage Post’s goals of delivering high-quality self-storage assets and a winning customer experience.”

As part of the partnership, Storage Post is also able to provide new customers with select game tickets through its website.

“The partnership with the Chiefs made a lot of sense geographically, but really, it’s our shared goal of supporting local communities that brought us together,” said Sarah Little, managing director of digital marketing for StorageMart. “The Chiefs do many great things to give back, and we’re thrilled to have partners aligned with our values as a global company.”

Of course, the fact that the Chiefs made it to Super Bowl LIX was just icing on the cake!

Part of the arrangement with the Chiefs is the StorageMart Tackle Tracker, which counts the Chiefs’ tackles at the start of the season. For every successful tackle, StorageMart makes a monetary donation to Big Brothers Big Sisters of America.

“StorageMart and the Chiefs are two local brands with deep midwestern roots and a shared mission to give back to our communities, not just here in Missouri but across the United States and even the world,” says Cris Burnam, StorageMart CEO.

One of StorQuest’s latest endeavors is its continued sponsorship of the Bass Angler Magazine (BAM) Tournament Trail, an exclusive West Coast, professional-level bass fishing tournament circuit. It was a natural fit for the StorQuest brand, says Brooke Wiegand, vice president of marketing. “To match the culture of our company, we are always looking for ways to connect self-storage to an outdoor lifestyle and individuals needing to store gear or their personal belongings. This allows us to show our commitment to supporting the lifestyles and passions of our guests,” she says. Of course, outdoorsmen have a lot of gear, as tournament angler Mark Lassagne, the owner of the BAM Trail and Magazine, demonstrates in the following photo and video.

In 2023, SmartStop made headlines by sponsoring 2013 Indianapolis 500 winner and 2004 IndyCar Series champion Tony Kanaan who was making his last lap at the 107^th Indianapolis 500. While he didn’t win, the partnership has prevailed. “Tony is now the team principal of Arrow McLaren, and he is our No. 1 brand ambassador,” says Williams. “He visits our stores, he posts on social about us, he speaks at our leadership conferences—it really gets the crowd excited to see someone like Tony versus the typical speakers you have at these events. Tony has more than 620,000 followers, and they’re loyal followers. When he mentions us, or highlights No. 6, that’s a lot of eyes on us.”

SmartStop also sponsors individual athletes across many sports, including BMX racers and MMA fighters. “We sponsor four to five fights per month with the MMA,” says Williams. “These young men and women may end up battered and bruised, but they train incredibly hard, and we’re proud to support them.”

Adds Williams with a laugh, “Their appearance after a fight can be a bit alarming, so we usually only post those promos on our Insta stories, not our main feeds!”

Ultimately, SmartStop likes to make dreams happen. “Teaming up with people who may not yet be at the top but are on their way there is important to us,” she says. “These people have a dream but may not have the financial backing they need, whether it’s for training, travel, gear, etc. SmartStop provides the support they need to get there, and then we’re able to go along on their journey with them.”

To bring this vision to life, StorQuest has launched a nationwide initiative to partner with local youth sports programs, helping young athletes chase their dreams, build confidence, and develop lifelong skills. To ensure these efforts have the greatest impact, the company has engaged its store managers, which it considers “the heart of each community,” to identify local teams and meaningful organizations for potential inclusion in the program.

“This isn’t just about putting a name on a jersey,” says Joy Martin, field marketing manager at StorQuest. “It’s about showing up for the communities that support us, helping kids stay active, and giving them the resources they need to succeed—on and off the field. Whether it’s a high school football team, youth soccer league, or little league baseball, StorQuest is committed to making a difference where it matters most.”

Support will take many forms, from financial donations and free storage space for equipment to special discounts that help keep local programs running strong. For StorQuest, these partnerships are about fostering teamwork, perseverance, and the belief that anything is possible with the right support.

“At the end of the day, success isn’t just measured in rentals—it’s measured in the impact we make,” Martin adds. “StorQuest is dedicated to giving back, inspiring the next generation, and proving that big dreams can start anywhere, even in the smallest of leagues.”

“If you are driving down the interstate and you see a billboard that just has an ad on it, you may not give it much attention,” says Paul Sickmon, president and CEO of Knox Sports. “Now, if that ad also has your favorite sports team’s logo on it, you’re going to give it a second look.”

While that can help with brand awareness, Sickmon says its effectiveness may not be lasting unless there’s an offer attached to it that can really attract fans. That’s why his company goes beyond just putting two logos together.

“Let’s say that you have a compelling offer that includes something from the team you’re working with,” he says. “It could be as simple as a unique set of koozies or pins or magnets, or maybe it’s tickets or an offer for a special fan moment with the team. Now you’ve turned the sponsorship into an experiential opportunity for fans. That’s when their fan passion really turns into business.”

Knox Sports puts a huge emphasis on ROI. “We have some clients that just simply want more web traffic, so we define the deal based on the amount that we deliver with a particular sports relationship,” says Sickmon. “Other clients need more sales, so we attach what we’re doing directly to a sales initiative so they can see what the difference is.”

If you’re not structuring a sports sponsorship that way, Sickmon feels you’re not doing it right. “Brand elevation is lovely, and sports will always do that. But it’s expensive, so we encourage every client to have a measurable ROI in mind. For self-storage companies, maybe that’s how many more units you can fill because of a particular promotion.”

Although Knox Sports does work with professional leagues, many of its clients gravitate toward college sports. “It’s less expensive and gives you year-round exposure across multiple sports,” says Sickmon, who adds that these partnerships typically focus on teams, not individual athletes. “There is a risk involved when you’re attaching yourself to an athlete’s personal brand—people make mistakes! But with a team, it’s not going to impact you if one individual on the team gets some bad press. You’re pretty much bulletproof because your relationship is with the team, not the individual.”

The Self Storage Expo Asia will be in Tokyo May 20^th to 22^nd, and investors and major operators alike will be there to find opportunities to ride that wave of growth to 2030 and beyond. They’ll also be meeting the elite of the rest of Asia’s best self-storage companies from Japan to West Asia, home to greenfield markets like Saudi Arabia, Dubai, and Jordan. This de facto CEO summit has become the go-to event for global CEOs to see the future of self-storage.

Leading Japan-watcher and renowned economist Wiliam Pesek, who will be presenting at Expo Asia, argues in Forbes that the changes in global investment sentiment towards Japan are provoking competitor countries in the region to up their game and undertake reform to boost efficiency and make their countries more competitive. It’s also pushing Japanese companies to ask how they can all improve their operations and become more attractive to foreign investment.

Extra Space doubled down on Japan with a strategic partnership with the aptly named Ambitious Co (branded Syuno-pit) to add to its partnership with Keiyo Logistics Co. Ltd (operating as privatebox by Extra Space). And they’re not done yet. Patricia Goh, CEO of Southeast Asia Investment, CLI, director of Storage Ventures Asia Pte. Ltd, and confirmed to speak at Expo Asia 2025, says, “ESA’s strategic partnerships with Ambitious and Keiyo Logistics will enable us to capitalize on the increasing demand for self-storage space, driven by e-commerce growth, rising urban population, smaller dwelling spaces, increased population mobility, and a higher proportion of rental households.”

Furthermore, American funds have made long-term investments. Evergreen Real Estate invested into Quraz (Japan’s biggest firm) in 2013 and hasn’t looked back. In the process, they encouraged major financial players, like Prudential, to pioneer the financing of major deals for self-storage in Japan.

At the annual Rental Storage Association of Japan event in Tokyo in November, Korean and mainland China operators were there to explore market entry. Investment has flowed out of Japan, with Japanese capital finding its way to General Storage from Japanese conglomerate Mitsuuroko. General Storage’s brands, Hong Kong’s The Store House and Malaysia and Singapore’s Lock+Store, are attractive for their strong returns and solid ESG leadership across Asia.

So, for those who have seen, say, the recalcitrance of 7-11 Holdings (the convenience store giant) to deal with Couche-Tard, they can rest assured that the rest of Japan Inc., and especially the self-storage sector, is open for business.

The main body responsible for self-storage, the China Association of Warehousing and Distribution, says growth rates (albeit from a low base) have ranged from 20 percent to 30 percent since the first self-storage facility opened in 2008. Chinese sites appear everywhere from former fallout shelter basements in Beijing to retail shopping malls. There is even a form of “community storage,” where self-storage operators partner with housing developers to create mini-storage options on their estates for apartment dwellers.

Something Japanese and Chinese companies have in common is a tendency towards leased sites. While property ownership of self-storage operators is slowly taking off in Japan, self-storage in China is very much a leasing affair, with only 5 percent of self-storage sites in Beijing, home to 400 odd sites, wholly owned.

China operators have marked differences from operators in other countries. They have a much higher duty of KYC (know your customer) requirements on account of national security concerns. Rather than have their own standalone customer-facing technology, they need solutions that interface with the national super-app WeChat (the app Elon Musk often says he would like X to mimic).

The Singapore-headquartered, Warburg-Pincus-backed Storhub has facilities in five Chinese cities, north to south, but they are almost unique in having international backing.

Most players are homegrown and expand across the country. Big names include Koala Self Storage, Anton Self Storage, Public Self Storage, and CBD Self Storage. Some are strong in their home city, like MyCube Self Storage and Lan Ren Cang in Beijing. Competition can be fierce, so operators are constantly improving their processes, cutting costs, and finding novel ways to reach customers.

China, as an investment target, will be difficult without partnering with someone with local expertise. StorHub’s masterstroke involved investing in two of the best operators in China to gain experience and expertise, which they have retained, before expanding. Americans seeking to catch this growth wave in the early stages should start doing their research now so that they are ready as the industry takes off. It is growing now in a relatively slow (by Chinese standards) economy. When it kicks into high gear again, and consumer spending unleashes the massive consumer savings that are now being accumulated, operators in situ will be perfectly positioned to rise with the tide.

However, few of these scions were committed, and hungrier entrepreneurs first hustled and then professionalized to grow proper businesses at a decent clip. They built teams with international talent and investors came a-knocking.

Storefriendly has led the way and now, with the support of Blackstone, has multiple Storefriendly Towers in Hong Kong. They have also been leaders in introducing wine storage, facial recognition technology, and (along with their Singaporean counterparts) robotic storage.

Another major international player is Brookfield Asset Management. Their investment into RedBox Storage has seen that company elevate an already high level of professionalism (attracting the investment) and expand into new premises in Hong Kong. Some of their premises are among the biggest in the city.

StorHub has expanded quickly in Hong Kong as well, bringing wine storage and raising the standard for customer experience in the city.

Businesses make up to 40 percent of customers, approximately 17,000 small and medium-sized businesses. A recent survey showed that self-storage is vital to their business model, showing how self-storage is a key component to the economic health of the city. Not every company can be a global multinational, and not everyone is suited to work for a Fortune 500 firm. Small businesses are the lifeblood of many communities, and self-storage is a big part of their success in Singapore.

India is a potential runaway market; the education phase is picking up steam there as Indian consumers see their purchasing power rise and they learn about self-storage. And the aforementioned expo will also cover “West Asia,” with the affluent, greenfield economies of countries like Saudi Arabia.

The leading institutional investors in self-storage know that Asia is taking off, so they are here. What the region hasn’t seen yet is a large American, Canadian, Australian, or European brand firmly establish itself, although there are signs that the first may be coming.

For those who want to get the lowdown, they’ll have to make their way to Tokyo in May of this year to discover how they can fit into to the growth story about to take off in the world’s largest continent. It’s all happening in Asia!

By Carolina Grassmann

toreIT’s lease-up strategy has taken their facilities to 85 percent occupancy in 18 months. What’s their secret?

Based in Portland, Ore., StoreIT is a self-storage development business founded by Dr. Wayde Elliott. The company has over $68 million worth of self-storage units developed and sold. StoreIT’s lease-up strategy has taken their facilities from zero to 85 percent occupancy in just 18 months, which is an impressive feat in the self-storage industry and an achievement worth learning from.

To understand the secret behind StoreIT’s success, MSM interviewed part of the StoreIT team, including COO Valyrie German; Chase Elliott, acquisition analyst; and Ashley Pollard, executive assistant and marketing specialist. And to look at StoreIT’s success from another perspective, we also spoke to Marie Cooke, the manager of Porterville Storage, a self-storage facility developed by StoreIT.

Investing in self-storage can feel overwhelming since there’s a lot to consider, from choosing the right location for a self-storage facility to dealing with bank loans. StoreIT can help with all these things, in fact, with much more.

During the development phase, StoreIT can help guide investors through the process of selecting the ideal property for their self-storage business. The company conducts market research to identify locations that align with the investor’s demands. In addition, StoreIT also ensures that the property complies with county regulations, zoning laws, and other legal requirements, preventing potential issues that could delay or negatively impact the project.

Before a purchase is finalized, StoreIT researches the seller’s history, investigating any potential tax liens, and uncovering legal or financial complications that may be tied to the property. By addressing these concerns, StoreIT ensures that the investor makes a well-informed decision with minimized risks.

And if dealing with the bank seems challenging, don’t worry about it. StoreIT also assists its clients in navigating the loan approval process by helping organize the documentation required by banks and financial institutions.

Once the property is secured, designing the self-storage facility is an important step of the development process. StoreIT can guide the investor to develop a facility layout that maximizes space efficiency, enhances customer convenience, and meets industry best practices. The company also helps its clients manage the budget, ensuring that every design choice aligns with both financial limitations and long-term business objectives. It’s important to know that a well-designed facility not only attracts tenants but also contributes to higher occupancy rates and overall profitability, therefore this might also be considered an important step in their lease-up strategy.

Beyond design, StoreIT oversees the construction process from start to finish, making sure that it doesn’t go above budget. The company works closely with contractors to ensure that construction remains on track, preventing delays and unexpected cost overruns. The StoreIT team guarantees that each facility is completed efficiently and successfully, setting the foundation for a thriving self-storage business.

StoreIT is involved in every stage of the development process, every step of the way, and no detail is overlooked. But their work doesn’t stop once the facility is built and ready to open. StoreIT continues to support its clients by helping them attract prospective tenants and set their businesses up for success. StoreIT’s lease-up strategy is very effective, driving occupancy from zero to 85 percent in just 18 months. So, what’s their secret?

SEO means “search engine optimization,” and it’s the process of improving a website’s visibility on Google. When potential customers search for self-storage facilities in their area, it’s possible to make sure that StoreIT’s properties appear at the top of the search results. Pollard says that this is achieved through a combination of tactics, including optimizing website content with relevant keywords and building high-quality backlinks from reputable sources, for example.

Another important aspect of StoreIT’s SEO strategy is managing online reviews. Customer feedback can affect how a facility ranks on search engines, and engaging with reviews can boost credibility and visibility, according to Pollard. “Responding to those reviews, it’s a huge part of SEO,” she says. By actively responding to reviews, StoreIT not only improves customer satisfaction but also signals to search engines that the business is engaged and trustworthy.

“It’s important to pay attention to the age range [of the community]. Where are they getting their information from? Do they use technology frequently?” she asks. That way, it’s possible to understand if an SEO strategy can be helpful or not.

Even though there’s so much research and technicalities in the StoreIT line of work, what makes the company stand out is not only its connection with customers and tenants but also the team’s connection with each other. During our interview, when Cooke is explaining the importance of respecting and connecting with her tenants, she shares that she’s memorized all their names so that she can address them properly. “That’s not an easy task,” says German. “She has over 800 tenants.” This shows the appreciation the team members have for each other, as well as their customers/tenants. “We really foster the family kind of atmosphere,” German adds.

Acquisition analyst Chase Elliott shares that the company is “very hands on” with the self-storage facilities they develop, even after the facilities are built and functional. “My favorite part about working with self-storage is finding something, whether that be land or an existing building that people don’t necessarily know what to do with, and then creating something and making something that’s valuable,” says Elliott.

Throughout our interview, it’s noticeable how passionate the StoreIT team is about self-storage, which they jokingly say isn’t a “sexy” business, but it’s something they really enjoy. For their tenants, they try grassroots initiatives, such as adding popcorn machines to some of their facilities, so that tenants are welcomed by that comforting and delicious smell. They also organize giveaways and are always ready to help their tenants.

That is the secret: human connection. In a modern world, where everything is automatized and individualized, the power of community remains superior. Engaging in conversation, being kind and helpful, going out of your way to provide great customer service—all that goes a long way. A self-storage facility that exercises these pillars is successful because it’s where tenants want to be, where they know their items will be cared for, and where they’ll find considerate people who have their best interests in mind. According to Cooke, tenants are willing to invest in a facility like this; they might find cheaper options, but at the end of the day, quality will always be more important. “We might not be the cheapest facility in town, but we’re the best, you know?”

uccess in the storage industry depends on optimizing every square inch. As urban spaces become more crowded and customers seek greater flexibility, the demand for efficient storage solutions continues to rise. Many facilities have untapped potential in underutilized spaces, so how can they maximize it? The key lies in rethinking traditional layouts and embracing modern innovations.

This flexibility is particularly valuable for businesses looking to stay ahead of evolving customer expectations and future-proof their facilities. A well-designed hallway system enhances floor plan efficiency, accommodates a range of unit sizes, and ultimately boosts occupancy rates and return on investment.

• New Builds – Hallway systems enable the creation of high-capacity storage spaces with modular layouts, ensuring operators can offer diverse unit sizes to meet customer needs.
• Retrofitted Buildings – Many self-storage operators seek to transform non-traditional spaces into profitable storage areas. Hallway systems allow retail spaces, office buildings, and vacant floors to be repurposed effectively. Additionally, modern, well-organized facilities with clear signage and easy navigation tend to achieve higher customer retention than outdated competitors.

• Durability and Cost-Effectiveness – Built to last, these units offer a budget-friendly alternative to permanent buildings, reducing maintenance costs and enhancing return on investment.
• Scalability – They can be deployed as needed, whether for peak seasons or specific customer demands.
• Versatility – Ideal for placement in RV and boat storage facilities, perimeter parking lots, or backyards of existing properties, they ensure optimal space utilization.
• Convenience – Designed as drive-up units, they allow customers to load and unload directly from their vehicles, enhancing ease of use for those with large or heavy items.

• Hallway Systems – Improve organization and create a professional environment with varied unit sizes and configurations.
• Relocatable Units – Expand storage offerings while making loading and unloading more convenient.
• Brand Identity – Customizable features, such as unit sizes, colors, and materials, reinforce a facility’s brand, fostering trust and customer loyalty.

• User-Friendly Websites – Make it easy for potential customers to find information about available units, pricing, and services.
• Online Reservations – Secure customers before they visit the facility.
• Automated Billing – Simplify the payment process, improving customer satisfaction.
• Smart Access Systems – Offer keyless entry and mobile app access for enhanced security and convenience.
• AI-Driven Management – Advanced monitoring systems use artificial intelligence to optimize security, energy efficiency, and occupancy tracking, reducing overhead costs and streamlining operations.

As urban spaces become denser and consumer needs more diverse, forward-thinking businesses will be the ones to succeed. Explore how hallway systems and relocatable units can unlock new revenue opportunities and ensure long-term success in the self-storage industry.

n 1831, the philosopher Alexis de Tocqueville traveled to America, the adolescent nation that inspired his country’s revolt against the monarchy. Similar to the present day, America was led by a populist president who was the bane of what we now call coastal elites. Regardless of the political upheaval, however, Tocqueville was enamored with Americans’ proclivity to form associations. He wrote in Democracy in America, “In no country in the world has the principle of association been more successfully used or applied to a greater multitude of objects than in America.”

Brilliant as he was, I doubt that Tocqueville could have anticipated the Self Storage Association, although the industry certainly would have been a success on the Oregon Trail. Nevertheless, almost 200 years later, the Self Storage Association is part of the legacy of associations that Tocqueville observed in Jacksonian America. I want to take a few moments to reflect on two recent examples of the ongoing power of your industry associations, particularly in the area of government affairs.

Although Tocqueville would likely have been shocked to see each owner limited to one minute of testimony, I believe he would have been impressed with the power of storage owners to band together, through their associations, to oppose harmful regulation to their businesses and customers.

Second, the Self Storage Association of Michigan (SSAM), which the national association manages, recently received a request from the Detroit City Council to comment on several new regulations that are under consideration. The SSAM is now working with owners in Detroit to meet with the city councilmember interested in adding these new regulations.

Based on our experience in states without associations, it is likely that the city would not have sought out industry input but for the existence of the SSAM. To quote Tocqueville, “In civil life every man may, strictly speaking, fancy that he can provide for his own wants; in politics he can fancy no such thing.”

Of course, my colleagues and I would not be where we are without your belief in the power of associations. Thank you for being part of this unique and important feature of American life.

ltimately, whether you’re forecasting market performance using supply data, market rents, or identifying the next demand boom, success hinges on how well you interpret the data. For self-storage operators, monitoring mobility and equity trends—factors outside the typical storage sector—can also be critical. These trends shape demand as consumers relocate, remodel, and tap into home equity. By understanding the relationship between housing and mobility, the industry can better navigate the forces driving self-storage demand today.

The self-storage industry is intricately linked to the housing market, and recent years has definitely proven this. In the SSA’s 2022 Self Storage Demand Study, residential customers were asked about their reasons for renting self-storage units. Surprisingly, the percentages added up to 171 percent, not 100 percent. That’s because survey participants could choose multiple reasons. Of the 13 possible answers, eight revolve around one common theme: mobility.

For instance, “don’t have room at home” often overlaps with “storage during remodeling.” In fact, around 25 percent of remodeling projects occur within the first six months of a home sale, frequently dovetailing with “storage while changing residences.” These overlapping drivers underscore how tough it is to pinpoint exactly where demand originates; mobility-related needs come from many angles and are constantly pouring over from one bucket to another.

Turning to broader housing trends, we’re seeing home listings creep back toward pre-COVID norms. Part of that comes from unsold listings piling up. We’re at the highest level of home listings with price reductions since the Global Financial Crisis. Multifamily vacancies are also rising nationwide, with rents dropping in many markets. While only two of 26 housing experts forecast overall price drops through 2025, there’s still logic in the assumption we will see capitulation in both home prices and rent, making way for incrementally increased mobility. U-Haul’s latest financial reports noted a nearly 5 percent increase in their moving supply rentals.

On the flip side, homeowners today are sitting on a wealth of equity. Adjusted for inflation, they have about $400,000 in average home equity—far above the previous peak of $275,000 in 2005. Even if home prices were to drop by almost 22 percent, that would still outpace the 2005 peak. It’s a staggering amount of untapped equity. That point clarifies why 75 percent of home buyers today are repeat (existing) homeowners, compared to the 55 percent share pre-COVID.

The point is: There’s no shortage of data, but data alone isn’t valuable. What truly matters are the interpretations and decisions made from it.