Self-Storage Drama Escalates: Google Profiles Demand Stardom, Facilities Play Musical Chairs, and Taxes Dodge Like Ninjas
Dive into the vibrant world of self-storage shenanigans where Google Business Profiles become the unlikely heroes, facilities engage in a high-stakes game of musical chairs, and tax laws perform ninja-like evasions. It's a hilarious take on industry drama, as whimsical as it is insightful.
From Google Business Profiles acting like the cool kids of marketing to self-storage facilities playing hot potato between investors, and legislative attempts at taxing storage units meeting their Waterloo, we've got it all. Dive into a universe where metal doors and lock mechanisms get as much attention as celebrities on the red carpet, and where a change in leadership at a real estate firm is the plot twist you never knew you needed.
- Google Business Profile Success for Self-Storage Operators
- Insight: Jim Ross outlines a 7-step guide for optimizing Google Business Profile (GBP) for self-storage operators, emphasizing accuracy, engaging content, and leveraging GBP features to enhance visibility and credibility.
- Potential Improvements: Suggests adding visuals, breaking down steps further, and including performance metrics case studies for clarity and validation.
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- Equity Resource Hands Brooklyn Storage Facility to Its Lender for $47M
- Insight: Equity Resource Investments (ERI) sold a self-storage facility in Brooklyn to Heitman Capital Management amid foreclosure and fraud allegations, marking a notable transaction in the industry.
- Key Details: Sale avoids a foreclosure auction; ongoing legal battle over alleged fund misappropriation by Safe N Lock’s executives.
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- Self-Storage Supply Expected to Plunge: Report
- Insight: Yardi Matrix report predicts a significant decrease in new self-storage construction by the end of the decade, citing market maturity and increasing project abandonments.
- Implication: Suggests a stabilization of the market and potential investor caution due to dwindling long-term development interest.
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- Real Estate Firm Savills Hires New Head of Self-Storage
- Insight: Ollie Saunders appointed as the head of the self-storage division at Savills, expected to leverage his extensive real estate experience for the firm's growth.
- Background: Saunders brings nearly 30 years of experience from roles at JLL Capital Markets, Drivers Jonas, and Deloitte.
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- Tax Bill Aimed at Self-Storage and Other Services Defeated in Virginia
- Insight: Proposed Virginia House Bill 889, introducing new taxes on self-storage and other services, was defeated, marking a victory for the industry and highlighting successful lobbying efforts.
- Context: The defeat reflects broader industry efforts against similar tax propositions in other states, with a notable comparison to tax relief efforts in Florida.
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- ISS Blog: Power of Relationship-Building in Self-Storage Business Success
- Insight: Rod Bolls emphasizes the strategic importance of building strong relationships with partners, employees, and the community for business success in the self-storage industry.
- Approach: Focuses on fostering team spirit, innovating in response to challenges, and prioritizing customer satisfaction as key to long-term growth.
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- PTI Introduces ProEdge Bluetooth Smart Latch
- Insight: PTI Security Systems unveils ProEdge smart latch, enhancing self-storage access control with real-time data, improved security, and operational efficiency.
- Features: ProEdge is designed for all weather, offers a long battery life, and includes an accelerometer for tamper alerts, aiming for ease of integration and reliability.
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