September 1, 2011 11:05 AM
This year, Tennessee, Nevada, California, and Illinois passed legislation that impacted storage facility owners. The legislation addresses lien notices, sale of property, guidelines for issues involving late fees, and enforcement procedures.
The new legislation in Tennessee went into effect on July 1, 2011. Dee Sharp, Tennessee Self Storage Association President, said, "The passing of this bill is a significant milestone for our industry because it gives parameters that level the playing field among competitors and protects consumers' interests." [More]
June 21, 2011 5:56 PM
So far this year, self-storage legislation has been signed into law in California, Illinois, Nevada and Tennessee. Now Maine has joined the mix. Legislative document 1428, “An Act to Amend the Laws Governing Self-Service Storage in the State,” was signed by Maine Governor Paul LePage and includes legal improvements for the state’s self storage facilities. [More]
April 22, 2011 12:02 PM
Two states, Florida and Nevada, are making steady progress with self storage lien law legislation as other states are gearing up for or finalizing bills. Illinois and Tennessee all have lien law legislation in progress and just last week, Colorado Governor John Hickenlooper signed into law Senate Bill 11-039, which includes improvements to the state’s lien law for self storage operators. [More]
March 29, 2011 7:56 AM
Illinois lien law legislation is making headway in congress despite opposition from the Press Association whose newspapers would lose revenue if the changes are passed. Introduced to the Illinois 97th General Assembly in February, the lien law was passed through the Commerce Committee and now moves to the Senate. [More]
March 11, 2011 7:51 AM
Self storage auctions are getting swamped with attendees in recent months as popularity has grown, causing many states to look at streamlining their lien laws. Earlier this week, both Nevada and Florida legislators reviewed proposed changes to their states’ self storage lien laws. Now Tennessee has joined the ranks by introducing legislation that would lift the newspaper advertising requirement for self storage lien sales. [More]
February 23, 2011 5:34 AM
Continued discontent from some Idaho lawmakers over the state’s purchase of a self storage property for a commercial venture prompted the introduction of a new bill on Tuesday that would set restrictions on what types of buildings the state Land Board can purchase in the future for investment purposes. [More]
September 17, 2010 4:53 PM
The U.S. Senate passed legislation yesterday designed to make it easier for small businesses to create new jobs. The bill is called the Small Business Jobs Act. It was passed in the Senate by a vote of 61 to 38 and is expected to be passed by the House of Representatives, and signed by President Obama, next week as well.
According to the national Self Storage Association, about 90 percent of self storage companies are owned by individual entrepreneurs who each operate just one self storage facility. In the United States today, there are around 27,650 self storage owner/operators who own and operate one facility each. Will the Small Business Jobs Act help these self storage business owners? [More]
December 18, 2009 9:00 AM
North Carolina's state House and Senate Finance Committees are taking a careful look at overhauling the state's sales tax code....According to the North Carolina Self Storage Association, the tax reform being considered by the NC legislature would place a four percent sales tax on self storage. Legislators argue that self storage owners will not be harmed by the tax, because people will be paying less in sales tax on other products and services. But the North Carolina Self Storage Association disagrees. Its owners and operators are fighting the new tax, arguing that the occupancy rates in North Carolina self storage units have been falling because of the recession, and that the sales tax would cause rates to fall even further. The NCSSA further argues that other sectors of the real estate market would not be subject to a sales tax....
In addition, the NCSSA argues, 90 percent of self storage operators are small business owners. The new tax reform legislation, if passed, will place the burden on small business owners to collect and pay a new tax to the state, one that will require them to raise their rates and to explain to tenants that rates are being raised. The tax legislation will also immediately reduce the value of self storage facilities by imposing an additional expense -- which will make it harder to sell self service businesses in North Carolina. [More]