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?
I own 3 storage properties (2 in one state and the other in another state over 100 miles away)and work a full-time job about 100 miles in another direction; with all my travelling I sometimes feel like I get behind the 8-ball. That is where I was on my taxes when I contacted Jerry to prepare them. It is not a good practice to be at the last minute and needing to have your taxes prepared, but Jerry met the deadline with exceptional professionalism. I am located approximately 2,500 miles across the country from Jerry but that has been no hindrance in receiving timely exceptional customer service from him. In discussions with Jerry, he has had made suggestions that has helped me improve my operations. His knowledge of the self-storage industry incorporated into your accounting and tax-planning of your operations will prove to be invaluable. I believe he will provide you with the highest level of accounting service and tax planning and preparation for being an owner in the self-storage industry.
Donnie Christian
Bristol, Tennessee and Virginia

IRS Standard Mileage Rates Increase - January 1, 2013

The IRS recently issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving expenses.

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Inside Self Storage
Web-Based Self-Storage Software and Facility Data:
Working With Vendors to Protect Info

By Tom Garden

In these changing times of exponential technology growth, cloud computing and Internet everywhere, self-storage operators should ask important questions and garner some assurances before taking the management-software plunge. When considering a Web-based program, keep the following considerations in mind.

When it comes to management software, what’s the difference between “Web-based” and “Web-enabled”? Many of you have been deluged with these terms when shopping for software to run your self-storage facility and may be confused by them. You may also be unclear about which software companies provide which model.

In self-storage, “Web-based” is sometimes misused to include a PC-based Windows application that’s accessed via Terminal Services (Remote Desktop Service). The program runs on a computer in a distant location but can be accessed through a remote desktop connection.

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4 Steps to Choosing, Installing and Maximizing a Self-Storage Kiosk

By: Robert Chiti

The implementation a self-service kiosk at a self-storage operation, like any other business initiative, takes owner commitment, planning, manager buy-in and some willingness to change.

The good news is, if done correctly, the venture will pay off handsomely. Self-storage kiosks rented more than 23,000 units in 2011 and processed more than $21 million in rental payments. For you facility operators out there, here’s a step-by-step guide to choosing, installing and managing a self-storage kiosk. It's not as daunting as you may think.

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Self-Storage Research
Semi-annual Report Fourth Quarter 2012

Marcus & Millichap

Coastal Cities Lead Recovery, Secondary Markets Lagging

Demand for self-storage space will be sustained by an improving job market and the daunting eff ects from Hurricane Sandy. The catastrophic events unfolding from the hurricane created an estimated $20 billion to $30 billion in damage along the Eastern Seaboard. Typically after a natural disaster of this magnitude, demand for self-storage accelerates as homeowners store undamaged goods during the cleanup process, while contractors and local suppliers utilize commercial space. As such, operators with heavy exposure to the East Coast will see a sharp increase in business over the next six to 18 months. On a more positive note, with the economy on the mend, the nation has gained 1.3 million jobs this year, which enhanced consumer confi dence to a four-year high and boosted retail sales. Th is trend will persist through the holiday season as an additional 400,000 jobs will be created in the fi nal quarter. Technology-driven markets, including the Bay Area, Seattle, Los Angeles, New York City, and Boston, along with oil-rich regions in Texas and North Dakota, will realize a signifi cant portion of these gains. As residents relocate to these areas, many will enter the rental community and utilize storage units for excess items. Th is rise in demand, coupled with limited construction will support positive absorption across the nation this year.

As REITs and private-equity groups remain bullish on high-quality product, cap rates will stay compressed into next year, pushing some yield-seeking investors down the quality scale to capture higher returns. To satisfy investment objectives and grow portfolios, this pool of buyers needs to place liquidity into top-quality properties located in primary markets. Bidding will remain competitive for any new Class A listing, which will prompt most investors to pay cash to stave off the competition. With cap rates for these properties already treading near the sub-7 percent range, buyers looking to maximize returns may target stabilized assets in one-off markets, which can generate up to a 150-basis point premium. Meanwhile, smaller, local and regional investors priced out of the top-tier sector, will purchase Class B/C assets with proven cash fl ows in secondary and tertiary markets. Qualifi ed buyers with a solid operating history may be able to utilize the SBA 504 loan program for the acquisition. Due to the attractive debt being off ered, investors who use leverage could realize a cap rate spread of up to 400 basis points.

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