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All real estate is cyclical, especially in Arizona, widely known as the place where real estate cycles are most dramatic. Cycles of over-building occur because of an abundant supply of inexpensive land combined with a great quantity of real estate developers. Recovery cycles occur because we are among the fastest growing states. And what does all of this mean for self-storage? Click the headline to read more.
That’s Ann Parham’s message, and she will deliver it at the Operational Symposium on the second day of AZSA’s 2018 Conference, September 27, 2018, the day devoted to operational issues and manager training. President and CEO of The Parham Group, which manages, develops, and builds facilities, Ann is no stranger to self-storage. She will debunk the myth that “If I just” do this or buy that, my facility will operate like a dream.
This is your opportunity to effect the growth and direction of the Arizona Self-Storage Association. Directors must be AZSA members in good standing with an interest in advancing AZSA's mission: to strengthen the self-storage industry in Arizona, promoting professional standards and quality, and presenting a unified voice on issues affecting the industry in the state and in its communities.
A big thank you to Korey, Donna, Sarah, Melissa, and Tasha, members of the Professional Self Storage Management team who are leading the way in AZSA’s year-long campaign: HELPING HEROES HEAL. Gila Ridge Self Storage was the first, kicking off the campaign in Yuma at the January 23 Educational Workshop. Tolleson Self Storage joined the action this week and will kick off the campaign in Phoenix at the February 6 workshop, featuring The Hat Lady Anne Ballard. They are taking seriously the words of Sherman Gillums, Jr.: “Don’t pass the buck and assume someone else will help.” Click the headline to find out more about this severely wounded Marine turned Veterans advocate, and the HELPING HEROES HEAL campaign.
Preparation, focus, and follow through: key elements in a team’s success, both in sports and business. Marcus Trufant, 10-year NFL player for the Seattle Seahawks, talks about lessons learned on the football field that help him operate a successful self-storage portfolio.
In 2017, there were 24 self-storage transactions and 25 new self-storage facilities built in the Phoenix area, according to the Self-Storage Investment Report by Paul Boyle of Cushman & Wakefield. “Limited buying opportunities are causing investors to actively look in other markets,” says Paul, but, “All indicators show no signs of investors slowing down in 2018.”
Illegal activity at self-storage properties leaves a trail of clues and signals, according the Arizona law enforcement officials. Read on to learn what they are and how to respond so that you can protect your business.
“Life breaks everyone at some point,” says Sherman Gillums, Jr., Veteran of the US Marine Corps, Public Servant, and Keynote Speaker of the Operational Symposium in AZSA’s 20th Annual Arizona Self-Storage Conference, September 26-27, 2018. This Veterans advocate, who himself suffered a severe injury, says you have to “draw upon your inner strength in those circumstances,” and in all circumstances, “Help no matter what.” His Keynote Address isn’t until September, but we have a whole year ahead of us, so AZSA decided to do something new in 2018. Instead of just having a charitable focus during our conference, we’re turning it into a year-long campaign, thanks to Sherman Gillums, Jr. and Charity Storage, who will help us to just that.
On February 7, The Biltmore Bank of Arizona is bring together a local tax attorney, CPA and economist to weigh in on the changes in the 2018 tax bill and how they affect business owners. The panel will focus on the impact of the new legislation on real estate investors, commercial business, operating companies, and the local and national economy.
Try cost segregation. It’s not new, and some of you are already doing it, but other owner/operators haven’t yet used this tax strategy to increase cash flow through accelerated depreciation. Additionally, for buyers and sellers in today’s dynamic self-storage real estate market, understanding cost segregation is more important than ever.
The 2018 member stickers were mailed on February 1 to Owner/Operators for distribution to your Arizona stores, using the address on the dues invoice (which, in many cases, is NOT the facility address). Please watch for them so they can be displayed on facility windows. Also included in the mailing: form to nominate candidates for the AZSA Board of Directors and the Arizona Self-Storage Pioneer Award. Click on the headline to access the nomination form.
If you haven't paid your 2018 AZSA dues, please do so before Jan. 10. Invoices were emailed on December 1, 2017 and are also available online. Hard copies were mailed via USPS on December 11. You can pay online with a credit card or mail a check to AZSA, PO Box 44031, Phoenix AZ 85064. Members with unpaid dues will be automatically deactivated on Jan. 31, after which a late fee will apply.
Large operators don’t necessarily corner the market in today’s online marketplace, says Google expert Jessie Hochhalter, because 83% of consumers do not have a company in mind when they start searching online for self-storage. They choose the company whose web presence gives them what they want: price, trustworthiness, location “near me” – so maximize all the ways you can localize for immediate surroundings.
In the Phoenix metro area, 6 new self-storage facilities opened in the 3rd Quarter of 2017, bringing the year to date up to 17 projects. With 85 in various stages of being completed, under construction, or planned/proposed since the beginning of 2017, all indications are that self-storage development continues to grow in the Valley of the Sun.
It’s not really a “self-storage thing thing" to do, but self-storage is getting into a lot of "things" that haven't been our thing in the past. So maybe a Cyber Monday Special should be one? A small business owner in another unlikely Cyber-Monday-Special industry picked up an additional $67,000 in revenue with his email special. Last year, he sent it on a lark, never having done so before, and he is very happy he did!
What does Wall Street think of the self-storage industry? They love us! Highest profits, lowest foreclosure rate, best performing REITS, where to put your money now…still! Compare that to the general public’s opinion, largely based on media show & tell. Unfortunately, on Main Street, the public sees the self-storage industry through the eyes of Storage Wars' auctions, and the dark hallways shown in CSI. In a recent presentation, Edward Hainrihar Jr, of Compass Self Storage, asks "What can YOU do to improve our industry’s reputation with John and Jane Q. Public?" Read on for specific, actionable advice.
In honor of a career spanning four decades, modeling how to give back to the industry that gives us so much, Bob Schoff received the national association’s highest honor in September 2017. Surrounded by his family and industry friends, this AZSA owner/operator was inducted into the Self Storage Hall of Fame.
How to Convert Online Searches into Closed Leases
Compete with the REITs by maximizing all the ways you can localize for your immediate surroundings, giving the consumer what they are looking for online, winning in the "upper funnel" - and "don't change channels"!
Watch for details on the AZSA Holiday Party: a Happy Hour in Phoenix in the first half of December. Also coming up: dues invoices will be emailed the last week of November and sent via USPS the first week of December. Included with the invoices will be our request for topics for AZSA webinars in 2018, plus information about Exhibiting Sponsorships for AZSA's next conference: the 20th Annual Arizona Self-Storage Conference, September 26-27, 2018.
Self-storage, the darling of Wall Street, continues to attract institutional money, has huge market growth potential, and remains an industry entrepreneurs can enter sucessfully. Hear more at 1 p.m., Monday, Sept. 18, on Fast Money, 1510 AM and 99.3FM.
StorageMart‘s Mike Burnam, featured speaker at the September 27 AZSA Owners Summit, says using data to drive decisions on acquisitions and development is crucial. The CEO of the world’s largest privately owned storage company describes their new approach to data analysis a “breath of fresh air” – and it was an important feature of this year’s Summit.
AZSA members gathered at the Aug. 29 PHX Networking Breakfast to review Cushman & Wakefield's report (Read More for photo). Iinvestors continue to search the Arizona market for acquisition and development opportunities. The first half of 2017 saw 11 new self-storage facilities officially open for business, 6 of which are in southeast valley. Another 15 are under construction. Acquisitions were brisk too, with 18 facilities sold in Maricopa County in Q2 2017.
This urban renewal project 10 years in the planning has finally broken ground in Sunset Ranch, near Marana and Tucson, according to AZSA member Herb Havins. The store will be environmentally friendly and completely responsive to the demands of today's self-storage consumer. Read More to see photo.
The renting public is finding AZSA when looking for their departed loved ones storage units. Do any of you have units rented to Thomas Collins?
Class A property going up in Marana as AZSA-Member National Self Storage expands its portfolio.
Business networks around the Valley offer several events to broaden and strengthen your network of contacts.
Do you have any leases in his name? If so, read on.
If not, please do! Click on the headline for details.
Dominion Self-Storage is proud to announce the opening of their second self-storage center. The state-of-the-art self-storage business is located in Queen Creek, AZ on Germann Rd, east of Power Rd.
Janus International offers this complimentary education for self-storage professionals seeking to build new or expand existing new facilities on June 15 in the beautiful and cool Marina del Rey, California.
StorageForum, a discussion-based website designed for the SiteLink community, is open to the self-storage industry as a whole. Launched by SiteLink in May 2017, early topics include frequency of promotions, marketing ideas, recommendations on how to get the most out of technology like SiteLink eSign.
Market Report for the 1st quarter of 2017 shows lower vacancy, rising rental rates and continued development in a strong market.
Though the new military IDs are different, the prohibition against copying them remains the same, according to the US Government.
Already the Darling of Wall Street, the self-storage industry now has leaders entering politics on the national level.
If you are not following up on prospects - multiple times! - you are missing opportunities. Statistics show that almost half of sales people NEVER follow up, and 80% of sales are made on the 5th to 12th contact. Are YOU following up?
We all seek to earn customers' business and loyalty. AZSA's educational resources help you accomplish that by giving frequent focus to customer service and sales. A recent workshop developed by AZSA Member Terry Anderson, with Tenant Property Protection, focuses on a simple model: AIDA, helping you get Attention, Interest, & Desire that leads to Action.
Arizona lien statutes, modernized through AZSA's efforts in 2010, define "leased space" as the space or spaces at the self-storage facility that are rented to an occupant pursuant to a rental agreement. This enables you to put all of a tenant's units on one lease, which solves a bevy of day-to-day problems, according to self-storage legal expert Richard Marmor.
Your vote is your opportunity to help guide the direction of your association. Ballots are due May 11 and results will be announced at the Annual Meeting on May 18. Click headline above to access ballot.