Jerry Jones CPA
Wouldn’t it be nice to have a CPA that you deal directly with, that knows the Self Storage business, that works in all 50 states and is there for you when you need him?
Jerry has been our accountant since we started in the self storage business, some 20 years ago. I look to him as more than an accountant, but as a valuable business asset. He is continually suggesting new ways to reduce costs and improve profits. Also, he has developed some unconventional reports that are very helpful in evaluating our business on a day to day basis. I would recommend him to any self storage operator.
Dennis Geiler
SoCal Self Storage, Southern California

8 Critical PCI Compliance Requirements all Businesses Need to Know About

PCI compliance is mandatory for all businesses involved in the processing, storage, and/or transmission of cardholder data. Avoiding penalties, fines, and cost overruns should be the highest priority for companies, so take note of the following 8 essential PCI compliance requirements all businesses need to know about, according to PCI-QSA Charles Denyer of NDB Advisory:

Author: Charles Denyer

PCI compliance requirements are affecting virtually every industry and business sector, ultimately requiring organizations to undergo extensive measures for ensuring adherence to the Payment Card Industry Data Security Standards (PCI DSS) provisions. It’s thus important for merchants, service providers, and all other entities involved in the storage, processing, and/or transmission of cardholder data to understand what PCI compliance really means, that is, the “who, what, when, where, and why” of this ever-growing and expanding framework.  Charles Denyer, a noted Payment Card Industry Qualified Security Assessor (PCI-QSA), discusses the following 8 PCI compliance requirements that every business should know about:

Nevada Self Storage Association Announces Changes to Board

Newly Reorganized Board of Directors Includes Michelle Watson Appointed President, Greg Welsh as Vice President, Travis Morrow as Secretary / Treasurer, Katrina Bruce as Executive Director

The Nevada Self Storage Association today announced changes and additions to its Board of Directors for 2013, bringing renewed focus and additional services to Association members.

Going Green to Save Money: Five Simple Ways to Make Your Facility More Energy Efficient

By Casey McGrath, Associate Vice President with The BSC Group and Ricardo Fleury, Energy Efficiency Analyst with GreenPoint Partners

Often, the idea of “going green” brings to mind solar panels, wind turbines, and biofuels, but the reality is that there are simple, cost-effective ways of decreasing your energy consumption that do not involve major renovations and will have an immediate impact on your bottom line.  Ricardo Fleury  of Green Point Partners, a company that provides sustainability consulting for commercial real estate owners, has identified five energy efficiency retrofits that are not capital intensive, potentially DIY in nature, and can achieve payback in 1-3 years or less.  While they may not be as sexy as shiny new solar panels on your roof, energy efficiency retrofitting projects typically make for far better investments.  Regardless of issues like climate change, air quality, and energy security, these recommendations are based strictly on economics and improving the bottom line.

The most time sensitive of the five retrofits involves converting from old-school incandescent T12 lamps to more energy efficient fluorescent T8 lamps, reducing lighting electricity costs by 25-40%. Federal law mandated that T12 ballasts be phased out of production last year and that same law will phase out T12 lamps starting July, 2012, making the transition to T8s inevitable. Many local utilities are incentivizing customers to make the change today by providing instant rebates; these rebates vary by utility provider, so check with your local provider for details. For example, ComEd, the largest electricity supplier in the Greater Chicago area, offered an $8 rebate for each T12 lamp and ballast combination installed by March 31, 2012. That rebate dropped to $6 on April 1 and will be phased out over the next 12 months or so.

Saving Self-Storage Construction Loans From Extinction: Considering Loan Structure, Source and Viability

By Devin Huber

In the past four years, it seems loans for construction financing have been on the edge of extinction. Such loans became unpopular due to the recession and the sudden over abundance of self-storage properties in certain markets, many of which have had lower than projected rents and disappointing lease-up velocity.

Between 2007 and 2011, it was not uncommon to see lease-up plateauing between 40 percent and 60 percent for some newly constructed properties. Coupled with leverage that, in some cases, exceeded 80 percent, plus the high cost of land, many lenders ended up being responsible for distressed loans and real estate-owned properties that sold well below the original loan amount. This made lenders leery of giving construction loans. Today, this once-flourishing loan type can certainly be considered an endangered species.

Fortunately, in the past year, there has been a glimmer of hope for those seeking to secure construction loans for self-storage. There are lenders familiar with the storage industry who know that just because one market is overbuilt or has had bad luck doesn’t mean another market isn’t in need of new supply. By knowing where and how to apply for a loan, as well as some of the particular considerations for self-storage construction lending, you can take these loans off the endangered-species list.

Designed by NJ Designs