What’s Going On?
The national Self Storage Association (SSA) has entered into an agreement with several of the industries public companies (Extra Space Storage, U-Store-It, and Sovran) as well as with Reis, Inc. (NASDAQ: REIS) a leading provider of commercial real estate marketing information and analytical tools, to introduce a ground-breaking data collection and dissemination program for the nation’s self storage industry.
To date there has been no centralized source of objective market information to support the management of self storage facilities or to inform the industry analysts as well as the banking and investment communities. Under this new agreement with the SSA, Reis will generate the same type of sophisticated analytics that the firm has long provided to decision makers in the office, apartment, retail and industrial sectors of the commercial real estate industry.
What’s It Got to Do with You?
The SSA needs to generate (historical) rental rate and occupancy data for some 2,500 self storage facilities on a quarterly basis in order to provide the quality of input that will result in accurate, reliable self storage industry data on a quarterly basis – the very same data that your banker (or a potential investor) will rely upon and the very data that you will need, going forward, to valuate, acquire or re-finance a facility.
We need your assistance. We need you to agree to become a SSA Data Participant. To do so would require you to provide two things: First, we need you to fill out a one-time Data Template for each of your facilities (as to its Name, Location, Size, etc.); second, we will need you to provide quarterly data as to rental rate and occupancy information (such as Rent by Type of Unit, Move-ins, Move-outs, etc.).
What are the Benefits?
Those firms that co-operate by becoming Data Participants in the SSA and industry-wide program will benefit by knowing that all banking and lending institutions will, from this point forward, be utilizing timely and accurate information about the self storage industry in their decisions, and, those firms that participate by providing data will receive a 25% SSA discount on the Reis Quarterly Self Storage Reports when issued, beginning in 2012. (See attachment for Sample Reports).
Initially, Reis, Inc. will provide self storage rental rate, occupancy and other data for the Top 30 U.S. markets which will be subdivided into some 150 submarkets. With time we hope to grow the program beyond the Top 30 markets.
How Can I Participate?
We hope that you understand the importance of this program and the reasons for it. For too long outsiders have been using inaccurate and out-dated information to make decisions about our industry. This is our chance to change that and have the self storage segment take its rightful place on an equal par with the rest of the commercial real estate industry with regard to helpful data. It’s high time we had timely, accurate data and SSA is now engaged!
You can participate in this data study by clicking here and filling out this form or calling 703-575-8000 x108
Return form to SSA by faxing it to 703-575-8901 or email to mblackett@selfstorage.org
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