2021 Vendor Spotlight & Legal Update

Join the New Hampshire Self Storage Association for a joint vendor showcase and legal review at its first event in two years on October 6, 2021.

Our featured speaker is SSA’s Joe Doherty, who will break down the lien law update from 2019 as well as inform us about the status of our insurance law. This event will also host a Vendor Spotlight with plenty of networking to make up for lost time. There will be Roundtable Sessions, which will be offered to Vendors on a first come, first serve basis. More information about this can be found under the “Registration Fees” section below.

You can read more about Joe’s session below, and register today!

Understanding and Implementing the New Lien Law
Joe Doherty, SVP, Chief Legal & Legislative Officer, Self Storage Association
The New Hampshire lien law updates passed in 2019 were much needed and integral to our state’s self storage industry. Of course, we couldn’t have known that the unfortunate timing of this would affect our ability to hold educational events due to the pandemic. To make sure everyone thoroughly understands these changes, Joe Doherty of the Self Storage Association, who was instrumental in the law’s passage, will address everything you need to know about these updates. He will cover specific changes to the lien law, updates you need to make to your rental agreements to comply, changes to your lien sale procedures, as well as updates on the insurance law and more. He will also leave plenty of time for an in-depth Q&A session.

Registration Fees
Member Rate
: $40
Nonmember Rate: $70
Vendor Member Table: $100 (includes 2 registrants)
Vendor Nonmember Table: $200 (includes 1 registrant)
Vendor Table registrants will receive a table to showcase your company’s materials, verbal recognition, and your logo in the program and on our website. Vendor Members may submit roundtable topics on a first come, first serve basis. The number of tables available will be limited.

Not a member? Join while registering and pay the member rate! 

Registration Acknowledgement
For the health and safety of all attendees, the New Hampshire Self Storage Association is complying with applicable health and safety requirements and CDC recommendations. We need the help of all attendees to accomplish this as effectively as possible. By registering for the NHSSA 2021 Vendor Spotlight & Legal Update, you agree for your safety and the safety of all attendees, you will not attend the NHSSA 2021 Vendor Spotlight & Legal Update if you have any symptoms of illness or have had recent exposure to COVID-19.
In order to protect the health and safety of all NHSSA 2021 Vendor Spotlight & Legal Update attendees to the fullest extent possible, you agree to engage in responsible health and safety conduct consistent with current CDC recommendations. You also agree to comply with all COVID-related procedures implemented by the New Hampshire Self Storage Association and The Best Western Plus Executive Court Inn & Conference Center including procedures related to mask-wearing, social distancing, etc. These procedures will be communicated to attendees by the New Hampshire Self Storage Association prior to the event.
Thank you for doing your part to make the NHSSA 2021 Vendor Spotlight & Legal Update a safe and successful event.


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FORWARD 2020 VIRTUAL EVENT NOVEMBER 4 & 5 HOSTED BY NeSSA, MeSSA, AND NHSSA!

The Northeast, Maine, and New Hampshire Self Storage Associations are hosting a joint 2-day virtual education event on November 4th & 5th. With the cancellation of their fall shows, the associations are teaming up to provide education to their members and their state self storage industries.

Rather than dwell on what should have been, we are determined to look forward to the coming year, opportunities, and possibilties. Let’s look ahead and learn what processes, regulations, trends, and technology can help you succeed in the future.

Check out this event and register today here!  Register for Forward 2020


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U.S. Self Storage Industry Stats From Sparefoot

Updated 3/7/2020

This page contains statistics about the U.S. self-storage industry compiled by The SpareFoot Storage Beat. Statistics on this page will be updated as we receive new data. If you have data that you’d like to share or have a question about data on this page, please email editor@sparefoot.com.

Self-storage sector snapshot

U.S. self-storage sector snapshot Data
Annual industry revenue $39 billion
Number of storage facilities (range) 45,000-60,000
Total rentable self-storage space 1.7 billion square feet
Self-storage space per person 5.4 square feet
Percentage of households that rent a self-storage unit 9.4 percent
Average monthly cost for a self-storage unit $87.89

Average monthly construction spending on self-storage facilities

The chart below shows construction spending by month, according to the U.S. Census bureau. Figures are not adjusted for inflation.

Number of self-storage facilities in the U.S.

Between 45,547 (Self-Storage Almanac, 2019) and 60,024 (IBISworld, 2020). Sources vary depending on definition and methodology.

Industry ownership is fragmented, with 18% of facilities owned by the six largest public companies, 9% owned by the next top 100 operators (minus the REITs), and 73% owned by small operators. (Self-Storage Almanac, 2019)

Largest self-storage operators (publicly traded) in the U.S. (by annual revenue)

  1. Public Storage: $2.68 billion (2019)
  2. Extra Space Storage: $1.3 billion (2019)
  3. CubeSmart: $643.9 million (2019)
  4. Life Storage: $574.7 million (2018)
  5. National Storage Affiliates Trust: $387.9 million (2019)
  6. U-Haul: $367.3 million (fiscal 2019 – self-storage revenue only)

Data from most recently reviewed company earnings reports.

Largest self-storage operators in the U.S. (by number of facilities, owned or managed)

  1. Public Storage: 2,538
  2. Extra Space Storage: 1,817
  3. U-Haul: 1,631
  4. CubeSmart: 1,172
  5. Life Storage: 854
  6. National Storage Affiliates Trust: 742

Data from most recently reviewed company earnings reports. U-Haul number reported by AMERCO March 2019.

Amount of rentable self-storage space in the U.S.

1.7 billion square feet (Self-Storage Almanac, 2019)

Amount of rentable self-storage space per person in the U.S.

5.4 square feet per person (Self-Storage Almanac, 2019)

Percentage of U.S. households that rent a self-storage unit

9.4% of households. (SSA Self Storage Demand Study, 2017)

Average storage unit cost

The national average cost for all unit sizes is $87.89 per month, according to SpareFoot data. (full year 2019)

The national average cost per square foot is $0.92 per month. (full year 2019)

Below is the average national cost by storage unit size.

Unit size Average monthly cost (2019) $/sq.ft. Year-over-year change in monthly cost
5×5 $45.18 $1.81 -3.9%
10×10 $95.00 $0.95 -2.7%
5×10 $62.95 $1.81 -3%
10×20 $134.58 $0.67 -2.5%
10×15 $122.83 $0.82 -2.6%
10×30 $199.02 $0.66 -1.1%

Using our data we’ve identified the 10 most in-demand cities for self-storage units.

Self-Storage Data by State:

Use the links below to find detailed storage data for the states with the most demand for self-storage.

Sources

Self Storage Association
IBISWorld
Seeking Alpha
Self-Storage Almanac
Inside Self-Storage
MJ Partners
Public Storage
Extra Space Storage
CubeSmart
Sovran Self Storage (Life Storage)
U-Haul (AMERCO)


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Holiday Dinner Event Wrap-up. Thank You Members!

Our Annual Christmas Party, sponsored by Connie Neville, SVN | C.M. Neville & Associates, Inc., was December 3, 2019 at the Concord Country Club. Attendees from many member facilities attended. We thank all for making this an enjoyable evening. Paul Maglio of Storage Auction Solutions gave a great performance auctioning off raffle baskets and other goodies to benefit the NHSSA TD Bank Scholarship Fund. A total of $525.00 was raised for the scholarship! What an incredible show of care and support from our membership! The scholarship application can be found on our website; children and grandchildren of operators/vendor members can apply. Please spread the word!

A special thank you to those who generously donated items to be auctioned off to benefit the scholarship, and to Paul Maglio for using his auction skills to benefit and entertain the group. And, thank you to members who made winning bids on items.
 

Best wishes for a Happy, Healthy, and Prosperous 2020 from The NHSSA BOD!


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Vendor Spotlight – Thank you Vendors for attending our Oct Showcase!


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