|
Self storage refers to a business that owns and operates a facility that is subdivided into self storage spaces which are rented to tenants, usually on a monthly basis. 
Example of a modern, urban, self storage facility. Self storage today At year-end 2009, a total of some 50,000 self storage facilities, owned by 30,235 companies, have been developed in the United States on industrial and commercial land parcels. There is more than 2.35 billion square feet of self storage in the U.S., or a land area equivalent to three times Manhattan Island under roof. The five large publicly traded storage operators (four REITs and U-Haul) own or operate approximately 9% of self storage facilities. More recently, in many metropolitan cities where competition among storage companies is fierce, better parcels of land near residential and commercial areas are being converted into self-storage once approved by zoning panels. 
According to the "Self Storage Demand Study - 2007" (published by the SSA) one in ten U.S. households now rent a self storage unit. The growing demand for self storage in the U.S. is created by people moving (some 40 million Americans move each year according to U.S. Census data), and by various lifestyle transitions, such as marriage, divorce, retirement, a death in the family, etc. Customers are generally allowed to store any non-hazardous, non-toxic, non-perishable material in the facility: personal items, furniture, motorcycles, overstocked retail wares, etc. Customers are prohibited from sleeping or otherwise living in the room. If the customer fails to pay the rent for a certain period of time, a lien is placed on the customer’s goods and they are sold at auction based on the provisions of that state’s lien law. The storage facility lien rights are codified in most states. If the goods sell for a price that does not cover the rent and fees due, the customer is liable for the balance. (i.e. California Self-Service Storage Facility Act, Business & Professions code Sec 21700 et seq The national Self Storage Association (SSA) was founded in 1975. The SSA represents some 6,000 companies in the United States that own, operate or manage some 22,000 facilities. There are a number of niche search engines focused on the self storage industry, including StorageFront, Sparefoot, and USStorageSearch. There are approximately 58,000 self storage facilities worldwide, of which 50,000 are located in the United States. 
According to a report (1 June 2006) by Mintel Consulting and in collaboration with the Self Storage Association of the United Kingdom space available for rental in the USA is approximately 1.6 billion rentable square feet, against 22 million rentable square feet in Australia and around 20 million in the United Kingdom. The report also states that there are around 41,000 facilities in the USA, 1,000 in Australia, around 700 in the United Kingdom and 220 in France. Some facilities are climate controlled. A few facilities have even added areas for self storage of goods with special needs, such as wine.
From Wikipedia, the free encyclopedia : Renting of other household goods |
