GreenFill Storage Blog
Future Technological Outlook for the Self-Storage Industry For many years, I advocated self-storage as an excellent way to invest your money. It is, in my opinion, a recession-resistant and frequently overlooked way to invest. Several factors, including growing urbanization, increased downsizing due to the coronavirus, lifestyle changes, and others, are propelling the self-storage industry forward. On the surface, the storage industry does not appear to be technologically adaptable. After all, self-storage and warehousing are fairly straightforward. Isn't it true that all that is required for success is a lot of empty buildings, locks, and electricity? Owners and operators in the storage industry may tell you otherwise. Marketing, management, accounting, maintenance, leasing, and a variety of other tasks are required for a successful self-storage business. More operators are embracing technology to run their businesses more effectively and efficiently, saving time and money. Is there growth potential? Despite today's economic challenges, the self-storage industry is expected to see an increase in demand. It has demonstrated tenacity in the face of a volatile market, and forecasts indicate that it will be worth more than it was last year by 2024. This is a positive sign for many consumers and investors who are looking for such services. Would downsizing fuel demand? Downsizing is the fuel that keeps the self-storage industry moving forward. Downsizing is a lifestyle trend that benefits storage facility rental companies. The appeal of living a minimalist lifestyle is appealing to many homeowners and tenants, which drives the demand for temporary storage space. Downsizing is becoming more popular in the housing market as people prefer compact living spaces such as condos. This prompts homeowners to consider whether they should keep or discard their larger possessions. Houses are also embracing a more contemporary aesthetic, which has the same effect. While downsizing a business is not always an option, it can be beneficial in terms of freeing up financial resources and generating additional income, allowing for greater flexibility. It also has a plethora of ...
July 19th, 2021
How incorporating self-storage in your housing budget gets you more bang for your buck. In all my time spent studying real estate investments, I have served three formidable mistresses. In my youth, my family was heavily involved in the business of entry level home building. Put plainly, this is the first house you buy when you decide it is time to be a homeowner as opposed to just a renting. My father and uncle had me do everything. My first job occurred over the summers during middle school, shoveling and moving dirt with a wheelbarrow. Progressing to my summer job in high school of swinging a hammer and helping build the houses framework. Then transitioning to working in the sales office, my college and first ‘wear a suit to work’ job. Finally, graduating to project management in my first full time career post college graduation. This was my first mistress: delivering hundreds of homes to new home buyers. Eventually, I developed a severe case of career wonder lust and several years later I left the family business. Eventually I found myself in the arms of my second mistress, multifamily property investments. I started a real estate investment firm of my own in 1991 and by the time I sold it in 2018, with the intention of retiring, it had grown just shy of a billion dollars in assets. This was my second mistress, and I still own many of these property assets today. It took me awhile to realize that I did not know how to retire. Perhaps, I did not want to retire. So, I found my third mistress, self-storage. The funny thing is, self-storage when you think about it, is kind of an extension of my other two mistresses, housing, and multifamily properties. Housing/renting is the necessity of a roof over my head and protection for the stuff in my daily life from the outer elements. Storage is just an extension of the necessity of protecting ...
July 19th, 2021
When is a Storage Unit More Than a Storage Unit? The excerpts below are from an Interview, March 23, 2021 with: Mike Howard, Managing Member, AKA Partners Adam Ibarra, CFO, AKA Partners; also co-owner of Michele Beck Accounting and Rickey Chavez with Gary Greene Better Homes and Gardens Real Estate. How GreenFill Storage Centers Create Value For Customers, Investors, and Communities We Serve In At some point every consumer asks, “What has my storage unit done for me lately outside of storing my stuff?” Mike Howard, the CEO of AKA Partners, the parent company of GreenFill Storage has some insight. Increasing Value to our Customers Mr. Howard: Asking the question “When is a storage unit more than a storage unit” is not a philosophical conundrum to wonder. It’s more of a pragmatic query. A majority of people think of a storage unit as only consisting of four walls, a garage door, a floor and a roof. This logic seems straightforward enough; however, it’s not that simple. Take the roof for example, we see the roof as much more than the covering that protects the important contents from the outside elements. The roof can be much more than this, in fact we see it as one of our greatest assets. Let me explain. When solar panels are added to the top of that roof, the generated power produced from the sunlight is available at a fraction of the cost, as opposed to purchasing it from a local utility company. We pass these savings down to those who store their possessions with us at budget-friendly rates. Our solar panels generate most, if not all, of the electrical needs of our storage facilities. This solar energy can be a tremendous benefit considering the high demand for climatized storage space. We make this temperature-controlled environment affordable, which can be a considerable cost savings when you consider the amount of electricity that type of space consumes on a daily basis. ...
July 19th, 2021