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Most self-storage unit leases are month-to-month with automatic renewals. Perishable items are prohibited in units. There’s also no cap on how much facilities can raise rent once a lease expires.
Capitalization rate (or " cap rate ") is a real estate valuation measure used to compare different real estate investments. Although there are many variations, the cap rate is generally calculated as the ratio between the annual rental income produced by a real estate asset to its current market value. Most variations depend on the definition ...
Self storage (a shorthand for "self-service storage," and also known as "device storage") is an industry that rents storage space (such as rooms, lockers, containers, and/or outdoor space), also known as "storage units," to tenants, usually on a short-term basis (often month-to-month). Self-storage tenants include businesses and individuals.
Extra Space Storage Inc. Extra Space Storage Inc. is a real estate investment trust headquartered in Cottonwood Heights, Utah that invests in self storage facilities. The company rents storage units, including climate controlled units, drive-up units, lockers, boat storage, RV storage and business storage under the brands Extra Space Storage ...
Public Storage is an American international self storage company headquartered in Glendale, California, that is run as a real estate investment trust (REIT). It is the largest brand of self-storage services in the US. [2] In 2008, it was the largest of four publicly traded storage REITs. [3] There are more than 2,200 Public Storage self-storage ...
The "uniform capitalization rules" or UNICAP rules were essentially a codification of the result of case of Commissioner v.Idaho Power Co., 418 U.S. 1 (1974) The UNICAP rules require a taxpayer to capitalize all direct and indirect costs that they incur in the production of real or tangible personal property that are allocable to that property.
NNN lease. In commercial real estate leases in the United States, the tenant, rather than the landlord, is usually responsible for real estate taxes, maintenance, and insurance. In a "net lease", in addition to base rent, the tenant or lessee is responsible for paying some or all of the recoverable expenses related to real-estate ownership.
CubeSmart. CubeSmart is a real estate investment trust that invests in self storage facilities in the United States. As of December 31, 2022, it owned 611 self storage properties in 24 states and the District of Columbia containing 44.1 million rentable square feet. [1] It is the 3rd largest self storage company in the United States.
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