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Selling tenant insurance provides extra income for self-storage operators, but doing so in some states might get you in trouble with state regulators. Only 16 states have laws that let self-storage operators obtain licenses to sell insurance policies to tenants, but the national Self Storage Association and its state counterparts are working to change that….

Des Moines, IA Des Moines, IA

Self-storage operator StorageMart closed March 17 on the purchase of 18 facilities in Iowa, Kansas and Nebraska from Wichita, KS-based Budget Storage Rental Spaces. The acquisition makes StorageMart the biggest self-storage operator in the Des Moines, IA, area. The 18-property portfolio gives Columbia, MO-based StorageMart an additional 8,573 storage units and 1.1 million square feet of…

investing investing

Self-storage remains the flavor of the month with real estate investors. Industry experts offer 12 pieces of advice for newcomers on how to be smart when investing in self-storage properties. 1. Scrutinize cash flow. “Self-storage is driven by cash flow. So cash flow should drive the investment decision,” said Chris Sonne, executive managing director of the…