With only two weeks into the new year, self storage owners and operators have already began to layout plans for the year ahead. This might mean increasing the size of a facility, expanding to new markets or even executing a new marketing strategy. Before any of these plans are made however, it is important to keep in mind legislation that affects the self-storage industry.
In 2012, there were several new law passed in states like Florida, Kansas, and Rhode Island while bills were introduced in Connecticut, Georgia, and South Carolina. There are also at least seven states which are contemplating making changes to self storage statutes. These changes could affects areas like tenant insurance and the tenant notification process.
In December 2012, an amended bill was passed in Ohio which enabled self storage operators to place public announcements for lien sales in commercial outlets, and not only local newspapers. If this is signed by the governor, this means that self storage operators would have more flexibility in publicizing auctions and could save money by placing announcements in less expensive outlets.
There are other states which are looking at improving on lien laws. In 2013, the anticipated key issues are taxes, lien laws, and public notification requirements. Therefore, while you are planning and budgeting in this new year, it would be wise to conduct research about the legislation changes that could affect your plans. Conducting regular Internet searches for 'self storage legislation and laws' should keep you informed about relevant changes and news.
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