Another round of funding offers hope for struggling self storage owners By Laura Williams-Tracy, SSA Magazine Self storage operators who missed out on the first round of funding intended to help small business survive the COVID-19 pandemic have another shot – but it will go fast. Today, President Trump signed into law another $484 billion relief bill. This second round of funding includes $370 billion for low interest and forgivable loans through the wildly popular but...

 Expanded Leave Law to Affect Self Storage OperatorsIn mid-March, Congress passed and the President signed legislation to provide many employees with expanded paid family and medical leave in response to the COVID-19 pandemic. The Families First Coronavirus Response Act (the “Act”) will take effect on April 1, 2020. The Act will have a significant effect on self storage businesses and their employees. Read on to learn how the Act will affect you.You can find a full set of FAQs f...

April 6, 2020  The enterprises that gather under the Self Storage Association’s umbrella have each faced unique challenges over the past few weeks; we understand that all of you have experienced disruptions on a previously unforeseen scale.  We appreciate particularly that without the technical advancements many vendors have engineered over the past two decades, today’s business continuity would be severely compromised.  You are the innovators that have inspi...

 How the Self Storage Industry Can Benefit from the CARES Act By Laura Williams-Tracy, SSA Magazine Amid a global pandemic that is rapidly halting economic growth and threatening a double-digit unemployment rate, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act in late March. The CARES Act will provide nearly $2 trillion in emergency relief to blunt expected monumental losses to people and businesses in the wake of the pandemic. It is unknown what...

SSA Advocacy Plays Critical Role in Industry's COVID-19 ResponseNo element is more important to the Self Storage Association's mission than promoting the industry's vital role within our culture, including the critical supply chain, distribution and transitional needs of our communities. No element is more unique to the SSA's mission than the advocacy work we perform on behalf of the sector, which encourages fair treatment of the industry in the public arena. "The self ...

Self storage capital markets that were humming along nicely a mere three weeks ago face a sudden break as the coronavirus pandemic rattles investors, delays closings, upends debt markets and puts optimism on hold for those trying to lease up new facilities.

   We have heard from many of you asking whether self storage is considered an essential business in light of recent statewide and local orders to close non-essential businesses. First off, most states have ordered the closure only of a certain set of businesses that commonly attract large gatherings, such as gyms, bars, and sit-down restaurants. In the states with broader orders, it is impossible to give a simple yes or no answer to whether self storage is essential or non-e...

The global coronavirus pandemic is upending markets and throwing uncertainty into every aspect of business.

Listen to the most pressing issues affecting our industry, including operating in the age of the COVID19 pandemic.

Self storage facility operations have to change, but it’s better to be proactive than reactive.