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inside, touch, or move any of the contents prior to the auction. Generally, the spaces and their contents are sold "as is, where is" with no warranties or guarantees implied or provided, and the terms of sale are cash-only upon conclusion of the auction. The purchaser of a unit takes possession of its entire contents and is responsible for removing them within a set period of time. In some cases, the facility may allow the purchaser to rent the unit and/or charge a refundable deposit for cleaning of the unit once it has been emptied.
241:
430:
Netherlands, 210 in Spain, 131 in
Germany, and 112 in Sweden. No other country in Europe has more than 100 facilities. Overall, the report estimates 2,391 total facilities in Europe, or about 75 million square feet of rentable storage space. This compares with over 52,000 facilities in the US (236 million square feet), and 1,100 facilities in Australia (39 million square feet). In the UK, charges are related to capacity in ft², transportation, hour/loading, with low-cost alternatives to traditional self-storage.
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was started in the United
Kingdom by Doug Hampson, and opened in central London in 1979. Called Abbey Self Storage, it would become the first self-storage chain in Europe. "... it was Doug Hampson who gave Britain the modern self-storage industry, with its bright, clean corridors and endless rows of
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in most states, though some states may allow public notice of sales to be done via the internet. The tenant has the right to pay their outstanding bill at any time until the moment the auction begins and thus reclaim rights to the unit and their items; those units would be removed from the auction
429:
are now found in many parts of the world. In 2014, FEDESSA, the
Federation of European Self Storage Associations, published a report about the state of the self-storage industry in Europe. In this report, it was estimated that 975 facilities exist in the United Kingdom, 430 in France, 264 in The
334:
thumbprint or hand scanners to ensure that access is granted only to those that rent. Self-storage facility operators frequently provide 24-hour access, climate controlled storage, outdoor storage for RVs and boats, and lights or power outlets inside the storage unit as amenities to set themselves
130:
Self-storage facilities rent space on a short-term basis (often month-to-month, though options for longer-term leases are available) to individuals (usually storing household goods; nearly all jurisdictions prohibit the space from being used as a residence) or to businesses (usually storing excess
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When discussing why a storage space is rented, industry experts often refer to "4Ds of life" (death, divorce, delimitation, and discombobulation; the latter can refer to either the renter relocating to another area and needing space to store items until they can be moved to the new location, or a
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Certain jurisdictions require facility owners to immediately confiscate controlled items such as firearms if they are in plain sight within a delinquent unit. Also, a jurisdiction may require the purchaser to turn over some items (such as family photos and tax/business records) to the facility
372:
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 people move each year according to U.S. Census data), and by various lifestyle transitions, such as marriage, divorce, retirement, a death in the
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for purchase; also, the lessor may be covered by their own insurance policy (if such policy has coverage for items stored off the premises of the insured) or may purchase insurance to cover the items (which the facility may offer as a service through a third-party carrier, and in some cases may
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The auctions/sales are open to the general public, with most bidders buying for the purpose of reselling for profit. Once the auction for a unit starts, the door to the unit is opened and potential bidders are allowed to view the contents only by looking in from the doorway; they may not step
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In rural and suburban areas most facilities contain multiple single-story buildings with mostly drive-up units which have natural ventilation but are not climate-controlled. These buildings are referred to as "traditional" storage facilities. Climate-controlled interior units are becoming more
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are sometimes provided on the ground floor. Also, complimentary rolling carts or moving dollies are sometimes provided to help the customers carry items to their units. Urban self-storage facilities might contain only a few floors in a much larger building; there are successful self-storage
383:
Demand for storage space remains stable as of Q4 2015. The supply for self-storage is also relatively stable. Often, the process to build a new storage building is onerous and can take years. Additionally, this specific asset class often gets push back from communities, due to its nature.
446:
Facilities owners are generally required to first notify the tenant of the outstanding debt, commonly by certified or registered mail to the address on file with the facility. If the debt remains unpaid, the facility must then give public notice of the sale or auction, generally in a
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and commercial areas are being converted into self-storage once approved by zoning panels. Companies are becoming more adept at manufacturing these modular storage units, allowing operators to get up and running quickly. To support the need, businesses like
158:
Although there is historical evidence of publicly available storage in ancient China, modern self-storage facilities (in which the tenant has exclusive access to the storage space) did not begin to appear until the late 1960s. The first self-storage facility
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or freight lifts to move the goods to the upper floors. These facilities are often climate-controlled since they are comprised mostly, if not totally, of interior units. Warehouses or grocery stores are sometimes converted into self-storage facilities.
146:, self-storage facility employees do not have casual access to the contents of the space (and, thus, the facility is generally not liable for theft). A self-storage facility does not take possession or control of the contents of the space unless a
131:
inventory or archived records). Some facilities offer boxes, locks, and packaging supplies for sale to assist tenants in packing and safekeeping their goods, and may also offer truck rentals (or may allow free use of a truck for a new tenant).
442:
or lien sales to vacate non-paying tenants according to their enforcement rights that are outlined within the lien law of each jurisdiction. In Canada, the process and legal requirements are outlined in the Repair and
Storage Liens Act.
178:
Modern storage facilities grew slowly through the '90s, at which time demand outpaced supply and caused a rush of new self-storage developments. From 2000 to 2005, over 3,000 new facilities were built every year in
America.
898:"A top self-storage exec explains how demand and occupancy within the sector have been resilient during the coronavirus pandemic: 'It's a great performing asset class as compared to other property classes'"
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apart from competitors. Some storage facilities have open roofs i.e. a wire mesh roof which are not that secure, compared to ones that have full covered tin roofs that provide added security and privacy.
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10 ft × 10 ft (3.0 m × 3.0 m), about the size of a child's bedroom (as of 2015, 10x10's are the most common storage unit size, making up 16% of the distribution in the U.S.),
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by the renter. Each unit is usually accessed by opening a roll-up metal door, which is usually about the same size as a one-car garage door (smaller units may be accessed by a hinged metal door). A
118:, containers, and/or outdoor space), also known as "storage units," to tenants, usually on a short-term basis (often month-to-month). Self-storage tenants include businesses and individuals.
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There is a belief amongst investors that the self-storage industry is recession-proof. This belief is supported by the 5.1% total return the sector delivered to investors in 2008 during
376:
Over 54,000 self-storage facilities currently exist in the U.S. ranging from companies with a nationwide presence to companies with regional footprints or even stand-alone independent "
387:
The self-storage sector is highly fragmented, which is in contrast to other asset classes in the industry. 80% of self-storage facilities are owned by individuals or small investors.
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Self-storage businesses lease a variety of unit sizes to residential and business customer/tenants. Popular unit sizes (with width shown first and depth shown second) include:
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land parcels. There is more than 1.9 billion square feet of available self-storage in space in U.S. The six largest publicly traded storage operators (four
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own or operate approximately 18% of self-storage facilities. The global industry was worth 48.02 billion U.S. dollars in 2020. More recently, in many
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is imposed for non-payment of rent, or if the unit is not locked the facility may lock the unit until the tenant provides their own lock.
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or on-demand storage is where customers' items are kept together in a warehouse rather than providing each customer with a storage unit.
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brightly-coloured doors. In the industry he is widely credited with the enviable title of the "father of UK self-storage".
398:. This is due to the fact that self-storage is considered to be an "essential business" in many jurisdictions so during a
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family, etc. Recent surveys of self-storage companies indicate a positive trend in market demand and occupancy rate.
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869:"Transacting in Turbulent Times: The Impact of Coronavirus Across All Segments of the Self-Storage Industry"
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15 ft × 20 ft (4.6 m × 6.1 m), about the size of a large master bedroom, and
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110:(a shorthand for "self-service storage," and also known as "device storage") is an industry that
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20 ft × 20 ft (6.1 m × 6.1 m), about the size of a two-car garage.
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10 ft × 20 ft (3.0 m × 6.1 m), about the size of a one-car garage,
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575:"Industry Statistics Sampler: NAICS 531130 - Lessors of miniwarehouses and self-storage units"
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10 ft × 15 ft (3.0 m × 4.6 m), about the size of a living room,
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popular in suburban areas. In urban areas many facilities have multi-story buildings using
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opened in Texas. This was often helped by the fact that most homes in Texas do not have
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Please help update this article to reflect recent events or newly available information.
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5 ft × 10 ft (1.5 m × 3.0 m), about the size of a large
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5 ft × 5 ft (1.5 m × 1.5 m), about the size of a large
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In the fall of 2010, two new television programs featuring storage auctions,
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The rented spaces are secured by the tenant's own lock and key. Unlike in a
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Inside a self-storage facility, with a rollup door (left) and a hinged door
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452:(which, in some cases, may result in the entire auction being cancelled).
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which helped increase the visibility and interest of storage auctions.
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subsequent marriage resulting in the couple having duplicate items).
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543:"Need to Store That? Booming Self-Storage Industry Says No Problem"
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At year-end 2019, there were 47,539 self-storage facilities in the
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600:"Self-Storage Nation - Americans are storing more stuff than ever"
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The storage units are typically window-less, walled with concrete
475:, were released. The popularity led to additional shows such as
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19:"Storage locker" redirects here. For small storage lockers, see
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In the United States, self-storage facilities may hold storage
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are expected to enter the modular construction effort as well.
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among storage companies is fierce, better parcels of land near
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672:"The Self-Storage Self - Storing All the Stuff We Accumulate"
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many facilities never closed and many people were reportedly
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require the lessor to purchase as a condition of rental).
714:"Value of self-storage market worldwide in 2020 and 2026"
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storage units to keep valuables safe from contamination.
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619:"Tales from the storage unit: inside a booming industry"
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939:"Repair and Storage Liens Act, R.S.O. 1990, c. R.25"
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also debuted on the
Outdoor Living Network in 2013.
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322:and some means of electronic gate access such as a
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342:Example of an older, urban self-storage facility.
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922:"European Self Storage Annual Survey 2014"
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425:Self-storage or variations on the
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834:"Investors Gird for Storage Wars"
541:Pleven, Liam (October 13, 2015).
88:Self storage building and garages
16:Industry that rents storage space
645:Yearsley, William (2014-04-14).
449:newspaper of general circulation
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647:"The self-storage millionaires"
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598:Vanderbilt, Tom (2005-07-18).
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134:Most storage facilities offer
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114:storage space (such as rooms,
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941:. Queen's Printer for Ontario
794:. SelfStorage.com. 2013-04-29
773:. Selfstorage.org. 2005-04-19
702:. radiusplus.com. 2020-02-03.
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696:"Radius+ Insider Statistics"
670:Mooallem, Jon (2009-09-02).
617:Cohen, Daniel (2018-07-27).
330:. A few facilities even use
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357:businesses co-located with
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962:. Self Storage Association
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418:Self Storage Building in
39:This article needs to be
420:Fairfax County, Virginia
547:The Wall Street Journal
318:, individual unit door
68:Tampere Central Station
66:Storage lockers at the
927:. FEDESSA. 2014-10-01.
490:Storage Wars: New York
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410:Self storage worldwide
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1002:Contexts for auctions
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496:Storage Wars: Canada
310:facility may employ
100:Self storage garages
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873:Inside Self-Storage
838:Wall Street Journal
832:Friedman, Robyn A.
509:Compulsive hoarding
484:Storage Wars: Texas
392:The Great Recession
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191:on industrial and
183:Self storage today
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700:Radius Plus
676:NYTimes.com
378:mom and pop
256:Mailstorage
216:residential
212:competition
126:Description
986:Categories
966:2015-02-18
945:2021-10-15
907:2021-06-22
879:2021-06-22
851:2015-10-23
818:2016-02-29
798:2013-05-01
777:2012-02-01
681:2012-02-01
656:2020-06-30
628:2019-08-12
581:2012-02-01
560:2015-10-23
525:References
193:commercial
846:0099-9660
746:SpareFoot
555:0099-9660
349:elevators
332:biometric
165:basements
144:warehouse
136:insurance
752:June 16,
719:Statista
651:BBC News
503:See also
440:auctions
400:lockdown
361:plants,
304:lockable
460:owner.
154:History
116:lockers
41:updated
844:
722:. 2020
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487:, and
363:office
324:keypad
320:alarms
302:, and
210:where
208:cities
201:U-Haul
199:, and
172:Europe
161:chains
21:Locker
925:(PDF)
771:(PDF)
604:Slate
197:REITs
112:rents
842:ISSN
754:2015
728:2022
551:ISSN
469:and
221:PODS
148:lien
326:or
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