Believe it or not, the self storage industry has grown 75 percent since 1995. According to statistics, one in every 11 households rents space in a self storage facility. The revenue reported by the self storage industry as a whole has now overtaken even Hollywood! Most of the facilities are owned by independent entrepreneurs and some publicly traded companies are also operating in this space (Public Storage, Shurgaurd etc). Its a profitable industry to say the least. The rise in consumerism and the increase in relocation have both contributed to the rise of the self storage industry as one of the most profitable and recession proof sectors of the American economy. Another often overlooked contributing factor are websites like eBay. Why you ask? Well people are now more likely to keep their belongings in the hopes of selling them on-line. In the past, people would discard their belongings or have a large garage sale. Today, people can just store their goods in a public mini-storage facility and sell the goods one by one through eBay.
Another study has shown that over the last 30 years, families have grown smaller, but household sizes (square footage) have increased. Yes, that’s oddly correct. Families have grown smaller, but the average household size (in square feet) has increased. This is because families are purchasing more products than ever before. This is probably the largest contributing factor to the rise of self storage facilities. The more goods and products people buy, the more space is required to keep up with demand. I can speak of this from personal experience. I have accumulated so much stuff over the last 15 years that I rent a public storage space to store my belongings The same can be said for several of my friends who each own homes. Even after owning a home (with a garage), people still resort to renting public storage. And as consumerism increases in the US, we will see the continual rise in self storage facilities as well.
The above image was taken from www.toystorage.com. I do not own the image, nor do I claim any rights over it.
Leave it up to the human imagination to come up with ingenuous ways to use a product or service. Personally, I use creative ways to get the most out of my products. Whether its using my phone as an appointment setter or keeping track of the latest trends through on-line Google alerts. For some people, that’s only the beginning. I recently read in an article that many people are using public storage space in odd ways. Yes, the storage units that people storage goods in when they move or relocate. How creative can someone get with a storage space? Well, read on.
A newspaper reported that a self-storage facility caught one person living out of a 10 x 30 foot unit. The individual had been living in the unit for months! The only reason his “stay” was detected was due to the high electric bill that sharply rose. After the owner was alerted about the huge electric bill, a root cause search was conducted to trace out the source of the electricity usage. This led them to a man who had been living in his storage unit with a full queen size bed, a refrigerator, microwave and an air conditioner. He hid behind a huge tarp, to avoid displaying all of his personal items and to avoid detection.
Another storage facility reported that young teenage rock bands were renting space to practice their “loud” music. Another facility reported that there had been a sharp rise in men renting space to store their Star Wars or other toy collections because their wives were sick of displaying “toys” around their homes.
There was one story of a woman who stored a Corvette dissembled in boxes. The wife won the Corvette in a divorce case and that’s how her husband gave her the car. She wanted to store it until she could earn the money to put assembly back. The weirdness of these stories continues. One man locked up his girlfriend in a storage unit to keep her away from an ex-boyfriend. An inmate stored his wooden casket in one unit. Strange stories are reported each year from self-storage facilities. Seems like people are becoming very creative with storage space.
The above image was taken from http://www.allseasonsbillings.com. I do not own the image nor do I claim any rights over it.
Few know that the self-storage industry is growing very strong, despite the current recession and economic downturn, which has affected most other industries. The largest publicly traded self-storage company, Public Storage reported a 1% increase in annual growth above inflation. The same positive results were reported by another large publicly traded company called Extra-Space Storage, which increases revenues by 17% in 2011. Measuring the growth for the industry as a whole is difficult due to its fragmented nature. The 10 largest operators in this space only control 10% of the entire market share. Most of the other 90% of the self-storage market is comprised of private operators. They too have reported positive financial earnings in 2011 having the greatest returns (35%) in the REIT sector.
The growth in this sector can be attributed to a couple of reasons. Firstly, there are barriers to entry as many individuals cannot acquire financing for this type of venture and there is no government backed financing currently in place for self-storage businesses. Secondly, due to the current economic downturn, many consumers cannot afford to buy new homes and have actually shifted into smaller, rental properties. This has caused them to store their personal belongings in self-storage units. Obviously, this has increased the occupancy level for self-storage units nationwide. In essence, self-storage units are recession proof as people require space whether they are getting married, divorced, in-between homes or in college.
In addition, shows like “Storage Wars” and “Auction Wars” have pushed self-storage units into the limelight of American pop culture. More and more consumers are getting familiar and well acquainted with self-storage units and they are not considered to be a blue collar part of the economy anymore. This coupled with the fact that people are becoming larger consumers, has only fueled the self-storage industry. Americans today are buying more products than they did 30-40 years ago. More purchasing means more space is required to store all the new goods. All these contributing factors have made the self-storage space a very viable investment with a substantial return.
The above image was taken from http://www.contactcenterquips.com. I do not own the image nor do I claim any rights over it.
Self storage units are extremely beneficial to those that require space for their personal or valuable belongings. Sometimes its better to store additional furniture, books and winter clothing in a personal storage unit. Leaving cluttered stuff around the house looks untidy and occupies a great deal of space, which could be used for more important things. Leasing out a storage unit is extremely cheap and cost effective. Some storage facilities will even provide a unit free of charge for the first month. There are many deals that are offered by these facilities all year round.
For those that have temperature sensitive products, there are many storage facilities that have climate controlled units. This is especially useful for those wanting to store paintings or even old books. Pricing for climate controlled units is only marginally more expensive than a traditional unit. Its certainly worth the price considering the fact that it will store all your valuables at a reasonable temperature.
Though its not recommended, I have even seen old sports cars parked in storage facilities. The same is true for boats, RV’s, motorbikes and even trucks. For some people, a storage unit is a cheaper alternative to a parking spot in a garage, which could cost a few hundred dollars a month. Alternative, one could get a storage unit for as little as $40 a month on a month to month basis. Those who decide to stay longer and sign a yearly contract could find even cheaper rates as low as $20. This is a bargain for the amount of space one is getting.
The best and most cost effective storage facilities are those that are family owned. These tend to be cheaper and friendlier than their corporate counterparts. In addition, the owners are typically on-site most of the time and some of them even reside on the premises. This ensures that the facility is properly guarded and monitored at all times, even at night. Security tends to be another important aspect of a storage facility. Most modern storage units are properly gated in a large complex, which is monitored by cameras at all times. One can only access the facility with a proper code through a well fortified gate. This provides an extra level of security. Some facilities are even closed at night, further preventing any unauthorized break-ins.
In net, storage facilities are a great alternative to storing belongings inside your home, apartment or garage. So call your local storage facility today and avail the best rates. Some self storage Aurora CO units can easily store your boat and RV.
There are many benefits of self storage units. If you live in an apartment and you do not have much room, a storage unit can grant you an extra closet, or an extra room, or enough space to store even a car! This depends on how much space you want to lease. That is another benefit of the self storage unit, they come in many sizes and you can decide on how long you want to keep the storage unit. If you move and are still in need of storage, one of the benefits is that you can get a storage unit that is near your house, so it is almost like your extra room came with you. Another benefit to the storage unit is that if you are the type of person who cannot throw things away, you can store them in a self storage rather than in your house. There is a condition that is known as “hoarding” and for a hoarder, a self storage unit could be a godsend. Hoarders have a condition in which they cannot bring themselves to throw things away. Unfortunately, it applies to just about everything, including junk that a normal person would have disposed of ages ago. The sad thing is, these people will keep so much junk around that they can no longer move in their house. Not only that, but hoarding so much stuff will invite bugs and cause your house to be unhygienic and cluttered. If you have a self storage unit, then you can keep your belongings and your living quarters separate, even if you are a hoarder.
Another benefit of using a self storage unit over a cellar or basement is that a lot of the storage units are temperature controlled and have internal n environment that is designed to store items. If you leave your stuff in a moldy old basement then all your stuff could end up ruined or molded. Also, there may be reasons that you would want to keep some stuff separate from your household stash. Perhaps you have an old project that you are working on that requires extra room. Maybe there are important documents that you do not want anyone who would come into your house to end up seeing. There are countless reasons as to why you would want extra storage space in a secure location. Depending on your need, these could be in a temperature controlled room or at normal room temperature. This obviously depends on the nature of the goods. For example, art pieces and old books require certain amount of care in terms of temperature.
These are just some of the benefits of the modern storage units available all across the country. Fortunately, these storage facilities are conveniently located in almost every city and suburb and sometimes only a few miles away from most residents.
There are many reasons that you would want to have a self storage unit, which is a very convenient service that various companies provide. For starters, if you are “between” places, or without a permanent home, for example, for as little as 20 dollars a month, you could have a closet sized unit to store your valuables in. Also, if you have something valuable, but it is large and is taking up space and you do not want to get rid of it, then a storage unit would be a great option for you. Okay, say the wife is nagging you to get rid of all the bachelor stuff that you love, well, with a storage unit; you can keep all your cool stuff nearby and continue to have access to it. If your marriage sours, you may want to keep some stuff of yours hidden away from the lawyers, which is when a storage unit will come in very handy. Perhaps you need a place to store something small that you do not have room for anymore, but have continued use for it. Around this time of year, holiday decorations, plastic trees, Christmas tree lights that you pull out of the garage every year could be kept in a storage unit.
What is convenient about the self storage unit is that you can pay monthly or sign a contract and own the storage space for years at a time. It really depends on the company you do business with. Also, most storage units have good/stable atmosphere, meaning that it is unlikely to get mold or anything similar that will destroying your valuables. When you are moving from place to place and you need to hold some stuff, storage units work well. They work well whether you are moving into a new apartment or moving out of your house or just do not have any more room for things in your house. Some people do have a lot of stuff in their house and by getting a storage unit, you will not end up as one of those hoarders that you see on tv who cannot even move around their own home. Its a good idea to keep your house free of clutter. Also, a lot of places will provide you with dollys to help you move your stuff around. The convenience of owning a storage unit is really amazing. Its extremely handy is almost any type of situation imaginable.