The COVID-19 pandemic changed the way we live and work and the self storage industry has been no exception. As communities across the nation emerge from the pandemic, it’s becoming clear that many of the changes within our industry are here to stay, including:
- Contactless rentals — E-commerce and online purchasing kicked into high gear during the pandemic. In self storage, tenants embraced contactless rentals and digital payment routines and now expect the ability to complete self storage transactions online. In the future, owners and operators need to prioritize streamlined digital experiences and self-serve options to remain competitive.
- Increased sanitation — COVID-19 shined a spotlight on sanitary practices. Most self storage operations responded by quickly adopting touch-free processes and upgraded sanitation policies. Although face masks and plexiglass dividers are no longer required in many facilities, an increased focus on the cleanliness of high-touch surfaces and improved air circulation will remain long term.
- Upgraded technology — Across industries, technology upgrades took center stage during the pandemic as businesses raced to navigate disruption and facilitate remote work routines. Self storage owners and operators doubled down on technologies to improve security, operational efficiency and the tenant experience — and the pace of technology investment shows no sign of slowing down soon.
- Increased demand — Self storage operations benefited from increased demand when homeowners scrambled to convert their homes to remote workplaces. Increased demand for self storage units will likely continue for the foreseeable future as a portion of the workforce permanently transitions to a hybrid work model. Consumers relocate from large cities to the suburbs and rural communities.
In some ways, the pandemic accelerated trends that were already underway in the self storage industry. By understanding those trends and the long-term changes COVID-19 brought to the industry, owners and operators can better position their businesses to meet the needs of today’s self storage marketplace.
