We're Just Going to Say It: Your Insurance Costs Have DOUBLED
We are back from the New York SSA Fall Conference, and we're bringing you the most critical takeaways you need to navigate the next 18 months. This episode is packed with insider info on the legal and financial forces reshaping the self-storage landscape.
Here's what we uncovered:
The Legal Fight: We reveal a land use attorney's opinion that many local moratoriums on self-storage may be illegal under state law. We urge you to get involved with your state SSA to protect your assets.
Consolidation Shock: We break down the SmartStop acquisition of Argus Professional Storage Management—a "game-changing deal" that signals 150 stores is the new scale required to compete with REITs on operational efficiency and data.
Expense Crisis: The shocking truth: Insurance costs per square foot have nearly doubled since 2020/2021, severely impacting NOI. We introduce Terry Campbell from Johnson Insurance, our new partner, to help address this critical issue.
Lending Reality: We explain why the predicted distressed asset crisis is not coming, thanks to developers securing long-term loan refis (10 and 20 years) during the low-rate environment.
The Future is Service: The biggest lesson from the conference: successful technology focuses on improving the customer experience, not just on cutting expenses.
Tune in now for an essential look at the operational, financial, and legal landscape of self-storage over the next 12-18 months!
Connect with Thaddeus Campbell (S3 Partners):
Connect with Chris Berg (Abernathy Holdings):
Find the Show on YouTube:
The Self Storage Report: youtube.com/@theselfstoragereport
This Episode was brought to you by:
TractIQ: https://tractiq.com/
Johnson Insurance: https://gojohnsoninsurance.com/
