25 Jan 2012

Self storage industry seems to be recession-proof

With hit shows like Storage Wars on A&E and more realtors looking for safe spaces to store people's valuables during house staging, the self storage industry is currently on cloud 9, The Wall Street Journal reports.

There may be a recession in the U.S. and Canada but one market that continues to grow due to consumer need is the storage industry.

Profits within self storage, "far exceeded where most thought they would come in,"  Michael Knott, an analyst at Green Street Advisors, told the publication. "Almost every situation in life can create demand for self-storage, like moving, divorce and getting married, [that is] irrespective of where the economy may be."

Insiders also reported that most people are drawn to newer facilities or ones that offer extra amenities. Many look for extras such as top of the line security systems, 24-hour access to their portable storage containers and facilities that have sprinkler systems and concrete flooring and ceilings in case of emergencies.

People looking for affordable self storage in Toronto should base their searches on companies that offer such bonus necessities, as well as facilities that have solid insurance plans. Jiffy Self Storage owner Allan Barkin told Global Toronto about the different types of insurance policies, saying most people opt only for short-term options that will typically only pay out 10 percent of damages. Barkin said that renters should go for the better plans that will cover fire, damage and theft. 

Be Sociable, Share!
Comment

Related Articles [3]

How Self-Storage Can Increase Your Home Value

March 4th, 2019
When you’re selling your home, you want to get out every dollar of your home’s value that you can. After all, the price you sell your home for is your return on...

Why Should You Invest in a Self-Storage Unit for Your Business?

August 6th, 2018
Successful businesses require a lot of back-end work in order for them to function as efficiently as possible. Businesses need ample space for proper documentation,...

Why Self Storage Is Booming In Big Cities

March 5th, 2018
Self-storage has always been popular, but lately, it is becoming increasingly more popular in big cities across the country. People are finding self-storage spaces can be...

Leave a Comment






Recent Posts

Blog Categories

Archives

Subscribe to RSS Feeds
Essential SSL