Self-storage owners and investors are about to find out whether the industry is as recession-resistant as many have assumed over the years. Jeffrey Adler, vice president at Yardi Matrix, made clear during a company spring-outlook webinar last week that the self-storage industry—along with the entire U.S. economy— is now in “unchartered” territory as a result…

Responding to social-distancing practices prompted by the coronavirus pandemic, self-storage operators big and small are favoring “no touch” over the human touch. In recent weeks, a number of self-storage operators have rolled out, beefed up or promoted “contactless” options for renting units. But Robert Chiti, chairman and CEO of Phoenix, AZ-based self-storage technology provider OpenTech…

As an industry, self-storage is taking two approaches to the coronavirus pandemic — compassion and caution. Offering help during a crisis From the compassion perspective, several self-storage operators are temporarily offering free or discounted units to college students who’ve been displaced by coronavirus-driven school shutdowns. As part of its coronavirus response, Salt Lake City, UT-based…

Continued overbuilding across the country is putting price pressures on self-storage facilities across most of the country – and nowhere are the price pressures greater than in Pittsburgh, Minnesota’s Twin Cities and South Carolina’s Charleston, according to a new Yardi Matrix report. For the entire country, rent prices fell by about 1 percent in January,…