I recently wrote an article for Self-Storage Magazine titled, “How COVID is Affecting Your Benjamins.”  This article covers the impact of the COVID pandemic on self-storage.

Here is a small exerpt:

“Many of us witnessed savings and retirement accounts quickly decimated in the early days of the pandemic, but for those who stayed the course, a swift recovery followed. The health of commercial real estate has been mediocre. Thousands of companies shut their doors for good and millions of people are out of work, which directly impacts commercial real estate. Owners are experiencing increased
vacancies, decreased rent collections, defaults on leases and looming debt reigns over them all.

Retail properties experienced increased vacancies–this trend may not quickly reverse because of the likes of Amazon
and other online retailers–and demand for office space has decreased as a result of COVID-19 remote work policies.
Fortunately for self storage, our sector remains one of the best investment opportunities during the pandemic. Through
the first three months of the pandemic, climate-controlled rates dropped 4.3%, and non-climate rates declined 6.7%… continued”

Read the Entire Article on Self-Storage News