Self-storage is a big business. It pulls in a ton of revenue. But even with high profits, the pandemic definitely put a dent in those numbers. The great news is that the industry is bouncing back. Mindful Workspaces & Storage update you on how and why this has happened. More than 30,000 owners operate roughly
The pandemic has created an even greater demand for self storage. And the industry continues to capitalize on this elevated demand. Significant rent improvements across the U.S. Street-rate rents rose 8% for a 10×10 non-climate-controlled and 9.5% for the climate-controlled units of similar size, year-over-year as of April 2021. The national street rates also experienced
Like other real estate sectors, the U.S. self-storage industry, like that of Mindful Workspaces & Storage, experienced the ups and downs of 2020. However, by year’s end, the market proved that the reputation it had built for itself during the last recession as a resilient sector is still valid. Adjustments indeed had to be made, but
Mindful Workspaces found it quite interesting to know that the self-storage industry continues to have a good pandemic, with rising rent prices and robust demand. Unfortunately, a fresh round of COVID-related lockdowns could negatively impact it. A new monthly report from Yardi Matrix, which tracks self-storage, found that national rents, for standard 10X10, non-climate-controlled, self-storage