How Self-Storage Companies Make Billions

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Americans collectively have more than five billion items sitting at home that they no longer use, according to a 2019 survey by online marketplace Mercari. One-click shopping and the globalization of overseas manufacturing has made it easier than ever for consumers to acquire goods. According to the Self Storage Association, an industry trade group, more than 10% of households in the U.S. rented a self-storage unit in 2020, 18% more than in 2005. The self-storage industry has continued to outperform during the pandemic, with several companies reporting strong occupancy and healthy demand, according to the research site Yardi Matrix. But with headwinds threatening the economy will self-storage companies like Public Storage and Extra Space Storage be able to maintain their momentum? And what will new disruptors like Neighbor and Clutter mean for the future of the industry?

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How Self-Storage Companies Make Billions

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47 COMMENTS

  1. These places are a racket they never lose money they auction off your stuff after 30 days of you dont pay. My place doesnt provide insurance so im required to pay for insurance.

  2. NEVER EVER RENT FROM PUBLIC STORAGE!!!!!!!!
    NO ONE
    I MEAN
    NO ONE
    WILL HELP YOU
    IF YOU HAVE A PROBLEM
    NOT EVEN THERE CORPORATE OFFICE
    THEY WILL HANG UP ON ANYONE WITH WITH A CONCERN

  3. As s former self storage manager, I'm telling you all,.this business takes your money. Do the math and don't rent storage. You would be better off donating your items to the homeless instead of paying more to store than what the items are worth..

  4. That Neigbor company is ingenius! I just worry about giving my stuff to a stranger in a kinda unsecure way lol Are there locks only I have a key to? Can I access it conveniently during a kids birthday party in the host's house? Interesting questions.

  5. Never rent with Extra Space Storage their customer service is trash. They will raise your rent and not even tell you and if you're even 1 month behind (regardless of why) they will sell your stuff to auction!

  6. A lot of people hang onto items they do not use anymore because looking at the item reminds them of fond memories. It is possible to still have reminders of those good times which take up less space. Take photographs of the belongings which remind you of things. Then create a photo album for those types of photos. When you are feeling nostalgic, feel free to look at the photos without having so much actual stuff.

  7. 0:03 There is an inherent problem with talking about the "number of items people do not use." Most people's items can be broken down into smaller items. For example, suppose that you do not use a specific car very often. Well, a car is only "ONE" item from a particular perspective. If you don't use the car, then you are not using the windshield wiper blades, not using the alternator, not using the transmission, etc…

  8. the world cannot sustain if everyone live like Americans like 300000 items, if they count every grain of rice then certainy i have that much items

  9. "Millenials use more storage than any other generation" –
    Duh, renting a shoebox in any city around the world is expensive. No wonder they're turning to storage.

  10. The need of trying to fulfill the empty space inside! To fill it with crap, while we destroy the bit left of the planet with our stupid and senseless consumption levels🤢

  11. The only time I have, and will ever use a storage unit was when we moved from an apartment, back home with our parents while waiting on our closing date for our home.

  12. Lots of those "tiny home" buyers rent storage space since their homes too small. in fact, the irony is that their storage space rental is larger in square footage than their home.

  13. Then Jesus Said to them :
    Watch Out !
    Be on your GUARD against ALL Kinds of GREED !
    A man's life Does Not Consist in the abundance of his possessions!
    Luke 12 v 15

    The lesser things you have
    the happier and lighter your life will be !

Comments are closed.