Storable Wins Three ‘Best of Business’ Awards

Over the years, the businesses that formed Storable have learned the best way to innovate and constantly deliver the best products and services to the market. Every new product, every new capability and every investment seeks to fulfill the needs we hear from owners and operators like you. That is why these awards are more than bragging rights, they are validation from the market that Storable is listening and responding with products and services that do help self storage businesses grow. Storable won the following ISS Best of Business awards:…

Self Storage Industry Reaches Point of Over Capitalization

As unprecedented amounts of capital flow into the self storage industry, many investors are expressing concerns that the industry has reached a point of over capitalization. In other words, an overabundance of capital relative to the number of investment opportunities has turned capital deployment into a daunting task. As market competition intensifies, some investors are exploring smaller market strategies, which begs the question: is this a last-ditch effort or a logical capital deployment strategy? Self storage is fueled by necessity driven demand that transcends market size, geography, income, etc. The…

Self Storage Is on Fire: Is It Crazy to Buy or Build? Probably.

If you talk to anyone in the storage industry, they will tell you that they have never seen a market as hot as this one. Existing facilities are full, rents are rising, cap rates are at historic lows and every supplier is so inundated with orders that they cannot keep up. The word ‘unprecedented’ has been used an unprecedented number of times in the last 16 months, but there is no better word to describe the self storage market – what is happening right now is unprecedented. The best advice…

Website Design Elements for Self Storage

Website design is important for the self storage industry. An effective website should be built with a sound technical build-out. This provides a foundation for success and gives you a solid base to build off of as you progress through the website design process. Sound Technical Build-Out The technical aspect of your website should not be ignored! Your goal should be to prioritize page speed, security and device compatibility or responsiveness. Your website CAN’T be slow when loading content or pages for a few reasons: Your visitors will become frustrated…

Understanding the Process of Cost Segregation

Storage facilities can take advantage of cost segregation. Owners and investors may be eligible to use this strategic tax planning tool if they have constructed, purchased, expanded or remodeled recently. Cost segregation itself is a specialized service. The process works as such: After reaching out to a cost segregation company, they will come to your facility. They will then segregate out all your assets, which means they will break everything down. In doing so, they will shift it from being a commercial building that is depreciated over 39 years to…

Anatomy of a Non-Disclosure Agreement (NDA)

Reviewing and potentially signing a NDA can be an overwhelming responsibility. Candidly, I get a minor headache just thinking about it but without guidance, it could result in legal repercussions so I sought advice from Scott Zucker of Weissmann Zucker Euster Morochnik & Garber P.C. With his help, this was drafted as a standard example of an acceptable NDA. It is also important to avoid ambiguous language. In the attached file, “Evaluation Material” clearly defines what information is not readily available to others. Often, these materials are delivered to the…

Standard Confidentiality and Nondisclosure Agreement Example

***THE FOLLOWING IS NOT A LEGAL DOCUMENT. PLEASE CONSULT AN ATTORNEY WHEN DRAFTING AN AGGREMENT***   CONFIDENTIALITY AND NONDISCLOSURE AGREEMENT THIS CONFIDENTIALITY AND NONDISCLOSURE AGREEMENT is made and entered into as of the ____ day of ______ 20__, by and between _____________________________ (“Seller”) and ________________________, (“Buyer”). W I T N E S S E T H: WHEREAS, Buyer is interested in pursuing the purchase of (Address:)__________________________________________________. (Address:)__________________________________________________. (Address:)__________________________________________________. (collectively, the “Transaction”) To assist Buyer in the evaluation of this Transaction, Seller will provide Buyer with certain information (defined below as…