It’s important to stay on top of the Edgewater Self Storage industry trends to stay on top of the competition! Whether you’re seeing heat in your market or you haven’t seen too much competition yet, it’s important to know how the industry is trending. There is much to learn from the rest of the self-savings world, between new technologies, ways of investing and developing, and ways to improve your day-to-day business. There are various reasons to keep track when evaluating patterns in the self-storage industry. Click now to know the biggest Edgewater Self Storage trends of 2022.
- Rapid growth
There are multiple reasons for the increase in occupancy and rental rates in the last two years. From rebuilding and carving space for home offices to reducing the size of homes and businesses, the epidemic has played a role. Moreover, urbanization, population growth, the aging population, and the popularity of e-commerce are also stimulating the demand for self-savings. The demand for self-storage is as real today as ever.
- Advanced technology
Successful owners and operators acknowledge that technology is a value-added factor that could extend the bottom line of convenience, service, and, ultimately, 2022 and beyond. They have adopted a wide range of solutions to cater to the preferences of consumers. Cloud-based software can send maintenance requests regardless, provide insights into customer and financial trends, and collect data from a variety of sources to simplify accounting.
- Confidence and optimism
Self-storage has once again proven to be recession-resistant, with fewer hits than multifamily, retail, hotel, and student accommodation in the last two years. As self-storage continues to improve, the industry has generated considerable investment interest from both private and public markets. This increased interest has led to further consolidation as a few big names have acquired small independent owners.
The point here is that technological advancement is becoming the standard of the industry which should not be ignored, but rather, the development of the industry will continue.