Self Storage Confidence Index
Each quarter, MiniCo Publishing, The Parham Group, and Cushman & Wakefield, Inc put out a survey to self storage owners. The results are complied and put into what they call the Self Storage Confidence Index.
A survey such as this is interesting, because it really isn’t about “hard data.” Rather, it is about how current owners feel about the future of their business. There is some value in that, I guess – but it is important to distinguish between how current owners “feel” about the future, and what is actually occuring.
Take the topic of rental rates, for example:
In the 3rd quarter results, 59.6% of owners felt that rates would go up. Another 23% felt that rates would remain the same. 17.3% felt that rates would go down. Interesting to know, but the report goes on to reveal:
“Comparing second quarter 2008 with the same quarter 2007, 51.4 percent of respondents indicate rental rates have increased, and a third indicate rates have stayed constant. Of the respondents, 12.3 percent report rate decreases from the same quarter last year. All these figures are slightly down from last quarter’s year-to-year figures.”
That information just packs more of a punch for me. I would rather know what is actually happening.
Get the entire report at: http://www.selfstorageconfidenceindex.com/US_3Q.html