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Monday, July 06, 2020
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 UPDATED: July 6, 2020 at 12:00 p.m. (ET)  Preventative Measures That Self Storage Operators Must Follow  As the country begins to reopen, you have likely seen that state and local governments have imposed restrictions on business operations, such as requiring face coverings and limiting the number of patrons at the site, in an effort to combat the further spread of coronavirus (COVID-19). Below is a list of most of the Executive Orders from Governors, as well as some local d...
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 Price Restrictions Remain Despite Lifting of Stay-at-Home Orders   As many states’ stay-at-home orders are lifted and states are “reopened,” many storage operators ask whether it is permissible to return to business as usual as it relates to normal rent increases for both current and prospective tenants. The answer to that question is: it depends. The first inquiry is whether your state has a price gouging restriction in effect. Most states do. Althoug...
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SSA Fall Conference Announcement

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Leading Self Storage Executives, Navy SEAL and Astronaut Among Those Helping SSA Celebrate 45 YearsOnline Fall Conference Set for September 8-11The Self Storage Association announced today that it will celebrate its 45th Anniversary this year virtually, with an incomparable lineup of industry expertise, executive participation and compelling talent.Due to the continued uncertainty involved in travel and gathering, the SSA Board of Directors has decided that the event will not take place in Las V...
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 Lien Sales & Late Fees During the Coronavirus Pandemic As the coronavirus (Covid 19) spreads throughout the United States, several states and localities have enacted restrictions on foreclosures and evictions. Many of these orders that have been issued to date exclusively cover residential evictions and foreclosures. However, as the situation evolves, more states are expanding those restrictions to cover commercial evictions as well. Some of the commercial eviction or foreclosure ...
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 How Storage is Weathering the Pandemic and Recession Self storage proved itself to be recession-proof during the financial crisis of 2008. Now the question is whether it can fare equally well during a pandemic.May would have typically been the middle of prime leasing season as families tackle spring cleaning, purchase and store recreational equipment for the summer, and college students stash refrigerators and furniture until next semester.This year is quite different for the industry...
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  Coronavirus & Price Restrictions  Once a state of emergency is declared, many states have price restrictions, commonly referred to as price gouging laws, that take effect. Although these laws differ, they generally put a cap on raising prices for certain goods and services above a certain percentage from the amount charged immediately preceding the declaration, subject to certain narrow exceptions. Some of these laws are clearly applicable to self storage, some clearly ...
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| Categories: | Tags: rents, coronavirus, price restrictions, legal | View Count: (518)
 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...
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| Categories: | Tags: small business loans, CARES Act, Loans, Funding | View Count: (398)
 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...
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A message to Self Storage Association Vendor Members and Industry Suppliers
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...
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 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...
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| Categories: | Tags: CARES Act, Coronavirus Aid, SBA Loans, Paycheck Protection Program | View Count: (1506)
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