NEW BEDFORD – During COVID-19 quarantine people revived old hobbies, enjoyed the extra time spent with family and friends, reflected on their lifestyle choices, and looked into those cleaning projects around the house.
As a result, the rental of units in storage facilities has increased significantly across the country. According to a USAToday article, cities like Miami, New York, and Los Angeles have little to no storage space available onsite.
“Moving and decluttering are some of the top reasons people choose self-storage,†said Tony Goff, director of operators at TrueStorage in Manchester, New Hampshire.
In October, Real storage opened its sixth self-service store at 969 Shawmut Ave., New Bedford. It took six months to convert an old recycling transfer station into 627 air-conditioned storage units. It is managed by Additional storage space.
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“We are thrilled to be a part of the New Bedford community,†said Chris Lewis, director of architecture and design for True Storage in a press release. “This store will not only provide a much needed service to the surrounding community and businesses, but it will enhance the visual appeal of the area. “
Through partnerships with national self-storage companies, True Storage produces premium Class A storage space. According to their website, the company has completed construction of the facility in Bourne; Manchester, New Hampshire; Cranston, Rhode Island; and Lafayette, Indiana.
In November 2020, True Storage opened the CubeSmart installation in Swansea. According to Goff, it is already 50% occupied with 307 rental units.
An increase in leases during a pandemic
According to statistics from the Self Storage Association, over 30,000 homeowners operate approximately 55,000 self-storage facilities across the country. Goff said: “Without a doubt” there has been an increase in rentals / rates since the pandemic.
Before the pandemic, the sector was averaging 3.5% annual growth for more than 30 years, according to Roger Morales, head of commercial real estate acquisitions for investment firm KKR.
“The landscape of customer interaction has changed,†said Goff. “I would say that a stronger web presence coupled with evolving technology for online rentals has increased rental contracts. “
After a decline in the first half of 2020, self-storage has made a comeback, with Americans cleaning up spaces to create home offices or classrooms.
Another reason was a increase in the number of young adults choosing to leave large cities to overcome the pandemic at their parents’ home while tidying up their belongings.
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Companies have also reduced office space, according to a USAToday article, and also move their equipment and supplies to self-storage.
“This gives people the ability to expand their lifestyle without having to add an addition to their home,†said Goff.
Storage facilities have also been popularized by hit TV shows such as “Storage Hunters”, “Barry D Treasure” and “Storage wars. “
“I have had the privilege of connecting with Dan and Laura Dotson,” added Goff, auctioneers of “Storage Wars”.
“It was fantastic, they are very supportive of the storage industry. Down to earth and easy to contact. We don’t have a lot of TV celebrities on storage so it was a privilege to trade. contact information, â€he said.
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“For tenants who make default / auction payments, the specific guidelines of each state’s lien law are followed,†Goff said, adding that they also follow the guidelines specific to the Status when a tenant dies.
Why invest in a storage unit?
At Extra Space Storage, the facility has convenient highway access, flexible hours of operation, 24-hour indoor and outdoor CCTV, secure access to the unit, ‘a variety of unit sizes, a covered loading dock and premium finishes throughout the facility.
According to LifeStorageBlog.com, there are many reasons people use storage units apart from decluttering or moving. For example, customers use storage facilities to store their cars during the winter months. Most self-storage facilities offer indoor, outdoor, covered or air-conditioned parking spaces.
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Additionally, parents with college-going kids can rent a unit to store dormitory stuff during the summer. Customers can also choose to use a unit to hold the possessions of a deceased loved one, for a short time, until they are ready to browse it.
“Something you fought for might be treated a little more grace and less anger when people have healed more emotionally,” according to the blog.
Customers may want to consider a storage locker to store their belongings during a home renovation. People with small businesses can also use a storage unit for their files or additional goods.
“It’s great to open our New Bedford site. We love our mass markets,†said Goff.
Standard-Times writer Seth Chitwood can be contacted at schitwood@st.com. Follow him on twitter: @ChitwoodReports. Support local journalism by purchasing a digital or print subscription to The Standard-Times today.
