Contributing Editors

Florida Seminar Focuses on the Ever-Popular Self Storage Auction

by John Stevens March 3, 2011 12:35 PM
It comes as no surprise that the Florida Self Storage Association (FSSA) will host a three-hour seminar on storage unit delinquencies, lien laws and the auction process on March 31. The hugely-popular TV show, “Storage Wars” has thrust the self storage industry into the limelight and attracted auction bidders in droves across the country – many of whom are novices. Self storage operators now face high numbers of auction attendees as well as a need to understand the legal process behind a lien sale and how to run a safe and secure auction. [More]

Florida Self Storage Facilities Keeping it Cool Thanks to Modern Technology

by Winnie Hsiu February 5, 2011 9:45 AM
The self storage industry just like any other is chock full of competition. In order to compete you have to be willing to go the extra mile. For many self storage facilities, especially those in warmer or colder climates as well as real humid ones, that means more climate controlled storage units. The only problem is that those cost more to operate. [More]

Self Storage Operators Finding it Hard to Collect in Recession Hit Areas

by Tony Gonzalez January 6, 2011 10:38 AM
As we all have realized, the recent recession has left much of the country financially crippled. And with that, the rate of foreclosures has risen, especially in Florida and Michigan. Florida self storage companies are now feeling the force of foreclosures as people are downsizing and needing storage space. But the good is sometimes followed by the bad. People, specifically in hard-hit southwest Florida, are finding it hard to pay the bills for their self storage units. [More]

Real Estate Investors Turn to Self Storage Properties

by Holly Robinson October 21, 2010 10:48 PM
Investors continue to take advantage of real estate investment opportunities in self storage as a way to escape otherwise risky commercial real estate markets, reports this week suggest. Self storage properties -- or land destined for self storage properties -- changed hands in Texas, Florida, and New York this week. [More]

Lenders Continue to Rein in the “Burger King Kids”

by Tony Gonzalez October 14, 2010 11:53 PM
Who is responsible for deciding if your home will be foreclosed on? At JP Morgan Chase, according to yesterday’s New York Times, the bureaucrats in charge of foreclosure paperwork were called the “Burger King kids” because they had so little experience in banking. At Citigroup and GMAC Mortgage, foreclosure paperwork was not always done by the lender itself -- instead, lenders outsourced the paperwork to workers in Guam and the Philippines. Inexpert workers sometimes threw needed paperwork in the trash, the Times reported. The charges were just the latest in a round of criticisms of the mortgage industry’s “robo-signers,” bank employees who were in charge of checking foreclosure documents prior to a repossession by the bank.

As the foreclosure crisis deepens, Attorney Generals in all 50 states have announced that they will work together on a joint investigation. At least six major lenders are reviewing their own foreclosure procedures internally, while four lenders have announced a moratorium on foreclosures until they can complete an internal review. Self storage industry experts have watched the crisis unfold with concern, as self storage companies step in to help Americans who have lost their homes and need a place to put their possessions. Several self storage companies offer discounts or free rent for the first month, partially in an attempt to offer some relief to new tenants who may be facing foreclosure, unemployment, or who are recovering from other crises. [More]

Classic Florida Roller Coaster Emerges from Storage

by Winnie Hsiu October 5, 2010 11:07 PM
People often find delightful, long-forgotten treasures in storage: classic cars, a trove of historical photographs, early works of famous artists. It’s rare to find something as large as a roller coaster in storage. But that is what happened to roller coaster lovers Teddy and Jenny Meeks. The Meeks have uncovered the old Starliner roller coaster, a historic wooden coaster built in the 1960s, and are bringing it back to Florida's Miracle Strip. [More]

Self Storage Association Inducts New Honorees into its Hall of Fame

by Holly Robinson September 30, 2010 8:43 PM
This week the eyes of many members of the self storage industry have been on the Inside Self-Storage World Expo in New Orleans. Earlier this month, though, another important self storage conclave took place -- the fall conference of the national Self Storage Association. At the Self Storage Association conference, the Self Storage Association Foundation (SSAF) met as well. The SSAF Board, among its other responsibilities, also nominates persons to be inducted into the Self Storage Association Hall of Fame. This year, the SSAF inducted two new members into its Hall of Fame: Steve Wilson of Hide-Away Storage in Sarasota, Florida, and Bill Kenney of All American Self Storage in San Mateo, California. [More]

Are Foreclosures Fair? “Robo-Signers” Confess Amid Mortgage Company Investigations and Fraud, Forgery Allegations

by Holly Robinson September 23, 2010 11:51 PM
There are many reasons, happy and sad, to become a self storage tenant, but one of the saddest must be to have to put belongings in self storage because your home has been foreclosed on. But in a recession economy, foreclosures seem to have become the new American experience, with millions of Americans from all walks of life losing their homes. Self storage companies have stepped up to the plate, offering storage to families who are going through a transition from one home to another, providing the first month or two of storage at a discount while families struggle to get back on their feet, and providing discounts to families with special circumstances, such as military families. Families who use self storage typically do so temporarily, while they are in transition, with the average self storage tenancy for an individual or family lasting about 11 months, according to industry statistics published last May in NuWire Investor.

Now it is becoming clear that one subset of self storage customers -- families who have lost their homes to foreclosure -- may have been improperly evicted from their homes in a deeply flawed foreclosure process that does not allow for careful and thorough review of mortgage documents and records to occur before the eviction process begins. Some bank employees are signing off on foreclosure documents without first going through the documents to make sure that the foreclosure is truly justified. Some of the foreclosures that have been processed over the last few years not only were processed far too quickly and sloppily, but are not even legal, because some files contained documents that were forged, signatures that were forged, names of made-up companies and employees from those companies, and affidavits that were signed without the presence of a notary (or that were signed by a notary several days after the initial signature that the notary was supposed to have witnessed). [More]

Stay in One Place, Sunrise Self Storage Facilities, and Google Will Find You Eventually

by Winnie Hsiu September 22, 2010 11:57 PM
According to the United States Search and Rescue Task Force, the thing to do if you get lost is to stay in one place -- and stay together. Sunrise, Florida, and its more than 86,000 citizens have been doing just that for 50 years, since Sunrise (originally called Sunset) was first established. Yet for almost a month this summer, Google Maps sent viewers who were looking for Sunrise to Sarasota -- a city that is 200 miles away and on the other side of the state -- instead. Not only was the city of Sunrise lost, but so were all its businesses (including many self storage facilities), addresses, and even city hall, much to the mayor’s dismay. [More]

Wounded Warrior Outdoors Encourages Donations from Self Storage Facilities

by Kim Kilpatrick September 15, 2010 10:30 PM
Self storage companies are famous for supporting charitable organizations, especially organizations that are focused on helping veterans, troops overseas, or military families. But Wounded Warrior Outdoors may be the only such charity that was actually founded by members of the self storage industry. Wounded Warrior, which offers injured veterans and disabled veterans from the United States and Canada a chance to recuperate while on a hunting trip in British Columbia, has announced that it is starting a new campaign: One for the Troops. [More]
 1 2 3 4 5 6 7 8