Self Storage Portrait

02 / 22 / 19

1 min read

A new report from Yardi Matrix illustrates how the self storage industry’s performance mirrors employment growth and population gains.

Development activity for self storage space is highest in metros such as Portland, Ore., Nashville, Tenn., Seattle and Orlando, Fla., where corporate expansions and relocations, alo man-using-self-storge-software-solutions ng with college student enrollment and multifamily development, are driving demand. Nationwide, units under construction and in the planning stages account for 9.4% of inventory.

The report also documents strong development activity in Boston and New York City, which are historically undersupplied markets.

Street rates for self storage units declined slightly nationwide in December a normal seasonal occurrence. In addition, the report notes, “New projects coming online over the past few months continued to weigh on rent growth at the national level, albeit at a much slower pace compared to the previous month.”

Yardi Matrix tracks nearly 2,000 self storage development projects in the pipeline and maintains operational profiles on more than 24,600 completed properties. Read the full supply and rent recap for January 2019.

Learn more about Yardi self storage solutions.

AUTHOR

Joel Nelson, senior marketing writer, joined Yardi in 2007. His byline has appeared in New York Real Estate Journal, Canadian Property Management and Los Angeles Lawyer, among others. He has won multiple awards from major professional organizations including the International Association of Business Communicators and Public Communicators of Los Angeles. Joel earned a bachelor’s degree from Pomona College.

Recent articles

Introducing WorkCafe for Buildings: The tenant experience platform that runs on your operations data

WorkCafe for Buildings is a tenant experience platform for commercial buildings built natively on Yardi Voyager to put bookings, billing and operations in one place.

08 / 19 / 26

Commercial

Product updates

5 benefits of a connected maintenance system

When maintenance, leasing and accounting run on one system, the handoffs disappear. Here are five ways that change your operation.

08 / 18 / 26

Multifamily

CRM IQ

Yardi Virtuoso Enterprise capabilities: native AI, data connectors, an assistant, AI agents, and a composer for building custom agents

AI in property management: How it works, where it’s used, what to expect

AI in property management is software that handles high-volume communication and administrative tasks, from lead qualification and tour scheduling to maintenance triage and renewal outreach, while your team stays in charge of the decisions and relationships that define a well-run community. Yardi groups these capabilities under an AI + Automation suite - Virtuoso, CRM IQ, Chat IQ and Maintenance IQ - connected tools built on a single governed data foundation.

08 / 14 / 26

Chat IQ

Artificial intelligence

Self Storage Portrait

Joel Nelson

Recent articles

Introducing WorkCafe for Buildings: The tenant experience platform that runs on your operations data

5 benefits of a connected maintenance system

AI in property management: How it works, where it’s used, what to expect

We’re here to help