Tennessee Self Storage Association, Inc. Industry News

Tim Dietz of SSA presents award to Sherry Cole

Melissa Roberts — Fri, 22 Feb 2013 18:46:27 GMT

Tim Dietz, SSA Sr VP - Communications & Government Relations made a surprise visit at our 1st Quarter Luncheon in Chattanooga on Tuesday. As it turns out, he was there to honor our very own Sherry Cole!

Sherry, who has served as our Legislative Committee Chairperson for several years now, was instrumental in the development of the new Tennessee Lien Laws that were enacted in 2011. She put in countless volunteer hours revising our then 30-year-old laws into what we use today. Not only do our new laws provide considerable cost-saving changes for our owner/operators but it also simplifies the lien procedures and brings clarification to the many gray ares of the old law. Our new lien laws now serve as a guide to other states as they work to make similar changes in their current laws.

We greatly appreciate Sherry and all of the hard work and dedication that she continues to give to our association!

Congratulations to Sherry for this achievement award!!!

MEMPHIS SELF STORAGE INVESTS IN SOLAR, PART OF LOCAL SOLAR GROWTH

Melissa Roberts — Mon, 11 Feb 2013 23:28:59 GMT

NEWS RELEASE

FOR IMMEDIATE RELEASE – January 18, 2013

Contact: Peter Calandruccio: pcalandruccio@lightwavesolar.com; (901) 573-2167

Tennessee Self Storage Association member, Absolute Storage Management (ASM), completed the installation of a 117-module, 28 kilowatt (kW) solar array atop its Midtown Vault Self Storage location in downtown Memphis. The addition of the solar panels will help offset a portion of the building’s monthly operating costs, with an expected return on investment of less than seven years.

“We’ve wanted go solar at Midtown Vault since purchasing the property six years ago. Based on available incentives and decreasing material costs, this year it made economic sense for us to take that step,” said Michael Haugh, managing member/partner for Midtown Vault and president of ASM. “Along with the expected monetary savings, we’re looking forward to cutting down on our carbon footprint.”

Tennessee Self Storage Association member, LightWave Solar, designed and installed the project and connected it to the MLGW power grid on November 30, 2012. Founded in Nashville, LightWave Solar expanded its offices into Memphis last year when they began working on the Agricenter’s megawatt solar project. Since then there has been significant solar growth in the area.

“We’ve completed nearly a dozen installations in and around Memphis since last spring,” said Peter Calandruccio, Solar Consultant with LightWave Solar. “Solar is gaining momentum in Memphis, due in part to attractive incentives and lower solar panel costs.”

ASM took advantage of several incentive programs to help offset the cost of the panels, including a 30 percent federal tax credit, MACRS accelerated depreciation, and an energy buyback incentive from the Tennessee Valley Authority (TVA).

As part of the TVA Green Power Providers program, TVA will purchase 100 percent of the solar electricity generated at 9 cents above the retail rate, totaling about 19 cents per kilowatt-hour. The 28 kW system at Midtown Vault will generate approximately 35,000 kilowatt-hours per year, amounting to $7,700 per year at current electric rates. As electric rates increase, so will the income from the solar.

Midtown Vault signed up for TVA’s program last year, so the company receives a 12 cent premium for their solar electricity. Green Power Providers applications approved this year will receive the 9 cent premium. However, program capacity is limited to 7.5 megawatts for 2013, and TVA has already received applications for 20% of program capacity.

“I’m glad that we got into the TVA program,” says Haugh. “It made for a very wise investment since the panels will generate energy for the next 30 years at least.”

The photovoltaic panels are the latest upgrade to the facility, a former telephone-switch building that had sat vacant and decaying for 15 years. Since purchasing the property in 2006, ASM has refurbished the structure and improved the perimeter while maintaining its historic façade. The building houses more than 400 climate-controlled storage units ranging in size from five-by-five to 12-by-20.

The new solar array takes up about one-third of Midtown Vault's roof, allowing for future expansion. The facility is ASM’s second property to employ solar power. East Nashville Self Storage features a similarly sized array. For more information on solar energy, visit www.LightWaveSolar.com or contact Peter Calandruccio at 901-573-2167 or pcalandruccio@lightwavesolar.com.

xxx

About LightWave Solar:
LightWave Solar is the largest area installer of residential and commercial solar PV systems in Tennessee with offices in Nashville, Memphis and Johnson City. Founded in 2006 LightWave Solar has designed and installed over 250 solar projects across the state, including the 1 megawatt system at the Memphis Agricenter. Visit www.lightwavesolar.com to learn more.

Follow on: Twitter.com/LightWaveSolar
Facebook.com/LightWaveSolar
Youtube.com/LightWaveSolar

About Absolute Storage Management (ASM)

Founded and based in Memphis since 2003, ASM manages 70 self-storage facilities across the Southeast, encompassing more than 3.5 million square feet. Properties are in Alabama, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Visit www.absolutmgmt.com to learn more.

Midtown Vault Self Storage in Memphis Completes Solar Installation

Joshua Lynn — Tue, 11 Dec 2012 18:02:51 GMT

http://www.insideselfstorage.com/news/2012/12/midtown-vault-self-storage-in-memphis-completes-solar-installation.aspx

Aggregators... Just work around them!

Melissa Roberts — Fri, 25 May 2012 17:57:05 GMT

Okay, so I realize that the idea behind the subject for today clearly isn't rocket science - or is it? How do you work around them? It can seem like rocket science if you don’t know the answer!

Let’s just get a few things out of the way here. Do self-storage aggregators get under my skin? Yes. Can they be helpful to some facilities depending on their particular marketing situations? Certainly. Can aggregators harm your online presence? You bet. Do we HAVE to use the aggregators in order to gain an online presence? Absolutely not.

I've talked to countless aggregator sites over the past several months. They all have the exact same selling technique. Trying to convince you that without them you will simply get lost in cyberspace and no customer will ever find you! They can not only provide you with an amazing listing for your business, many times with pictures, maps, etc, BUT they will also give you PRIME web presence! (Never mind the fact that they are using that same marketing technique on every facility they talk to. How exactly can everyone be given the prime listing?) And the best part is... all of this can be done for the low, low price of $9.99 per month (plus the added $29.99 fee for each referral they send your way)!

Now I do understand how this may sound like a great business relationship. Especially if you have no website or your website has a poor web presence. Admittedly, I am very fortunate. My facility owner had our website developed many years ago when our doors were first opened so I have a very well established website which I have since taken over maintenance. Also, my area is quite small and there are few storage facilities in my area that are competing for my web presence. So yes, my situation is unique. But I still have to question the use of self-storage aggregators and paid listing sites.

There are so many free listing options on the web that I have a hard time with the concept of actually paying for one. So my question for you today is... Do you know how your facility is being represented online? Have you checked those listings for accuracy? Have you done a Google search of your own facility name lately? I realize that until one knows "how" to work around the aggregators you may seemingly have no other choice but to work "with" them. That's where I believe our Aggregator Debates are leaving something to be desired - Education.

How do you work around the paid listings and aggregators? First of all, let me say this. Just because you do not have a website does not mean you do not have a web presence! You do!! Here is a great place to start:

Do a Google or Bing or Yahoo search of your facility name. Take a close look at what you find. Do you see a Google Map listing? If so, have you claimed it? You need to. And while you are at it, make sure the map location is correct. Check out all the listings that you find. Is your information accurate? If not, claim the listing and correct the errors. Now, go to www.getlisted.org and enter your facility name and zip code. This one may surprise you. I’m sure you will see many listings that you did not realize your business name was linked to. Check each of these carefully. Does the website link actually link back to your website? Is the phone number correct? And most importantly has the listing been claimed? If not, well you know the answer by now… Claim it!

Claiming the listing is easy. There is usually a prominent button on the listing asking you to “Claim it” or “Is this your business?” Most of the time you will have to set up an account with the search engine in order to claim the listing and make changes. This is FREE. There is absolutely NO NEED to provide credit card information or to sign up for the upgraded listings. And also please note, even if your information is accurate, you still need to claim the listing to ensure that no other third party will claim it in your place and possibly change your information without your consent.

Now, this is just the beginning but we have to start somewhere, right? Aside from establishing your own website, which given the many low cost and even free options for websites today this is within every facility’s reach, the next most important step is to make sure that every listing, map and search engine is representing your business with accurate information. Your customers ARE looking for self storage on the internet! Let’s make sure they find YOU!

~Melissa Roberts

Melissa2911@gmail.com

423-949-7867

Self Storage Association Unveils StorageChat.com; Forum for Industry Dialogue

Melissa Roberts — Wed, 21 Mar 2012 21:19:49 GMT

FOR IMMEDIATE RELEASE
March 21, 2012

Contact:
SSA - Erin Morr

703-575-8000 x104
emorr@selfstorage.org

Self Storage Association Unveils StorageChat.com; Forum for Industry Dialogue

Alexandria, VA - - The Self Storage Association is pleased to announce the launch of its new online discussion forum StorageChat.com. StorageChat.com allows self storage professionals to engage with their peers. Membership in the community is free and provides access to post topics, comment on others' posts, upload content, and many other useful functions.

Michael T. Scanlon President & CEO said, "At industry events and our training courses, we've observed first-hand how useful it is for our professionals to share know-how with each other, and we wanted to facilitate those relations. An online discussion forum such as StorageChat.com seemed like a natural conservatory to our educational programs and our goal to provide multiple channels for our professionals to easily find help.

StorageChat.com offers many features that will enable Self Storage Professionals to enhance their abilities and get assistance from peers and experts in different categories including Self Storage Insurance law and legislation, Self Storage Management, Self Storage Education, Self Storage Technology, and Self Storage Marketing. Scanlon emphasizes that Self Storage Association has carefully selected some of the most experienced experts in each filed to provide a maximum impact and success for it is professional users.

All self storage professionals regardless of their affiliation with Self Storage Association are encouraged to register and actively participate in StorageChat.com. To register for StorageChat.com, once you visit the home screen you will see a message in pale yellow. It will introduce new users to the FAQ page as well as to a link to register. Once you click on the link to register, the site will prompt you to enter your birthdate. Once you enter this information you will create a user name, password and enter your email address. After accepting the forum rules your registration will be sent to the administrator for approval. Post-approval you will be able to start posting to the site and participating in discussions. For more information pertaining to StorageChat.com and registration approval you may also visit the "Announcing Registration & Approval Process" tab on the home screen of StorageChat.com, or click here.

About the Self Storage Association (SSA)
The Self Storage Association (SSA) is the premier national not-for-profit trade organization for the industry and the registered lobbying organization before the U.S. Congress and federal agencies. SSA is official voice of the $22 billion (revenues) self storage industry that currently numbers 46,500 self storage facilities nationwide. The SSA directly represents some 6,000 direct and indirect member companies that own and operate 22,000 self storage facilities throughout the United States. The SSA is affiliated with thirty (30) state and regional associations in the U.S. and with four (4) international associations representing Asia, Australia, Canada, Europe, Japan, Latin America and South America. SSA members range from individual facility owner-operators to multiple-facility companies, to vendors, to large publicly traded firms and Real Estate Investment Trusts (REITs).

The Association specializes in several areas of core competency: (1.) data, information & research; (2.) advocacy & lobbying; (3.) networking & meetings; (4.) communication & publications; (5.) executive education & employee training; and, (6.) management of state associations within the industry. The SSA conducts two national conferences & trade shows each year and many other educational programs, seminars, web casts, and workshops annually. It publishes the industry's largest circulation magazine, the monthly "SSA Globe."

SSA was founded in 1975 and is incorporated in the State of Virginia as a (501-c-6) not-for-profit corporation; headquarters offices are located in Alexandria, VA. For more information about the national Self Storage Association, please visit our Web site at www.selfstorage.org.

# # #

THE ONLY NATIONAL SELF STORAGE CONFERENCE ON THE EAST COAST IN 2012!

Melissa Roberts — Thu, 15 Mar 2012 15:40:55 GMT

SSA and the FLORIDA SELF STORAGE ASSOCIATION (FSSA) WELCOME YOU TO ORLANDO!
You’ll discover why this is the most popular Trade Show in the industry for industry veterans and newcomers alike. There will be education, industry information, business resources, and networking. Join us in April as we take Orlando by storm, and enjoy a wide variety of industry topics… all geared toward profitability and successful operations. You will learn from the best!

Click here for more info!

Aggregators and the Self-Storage Industry

Melissa Roberts — Mon, 12 Mar 2012 19:21:45 GMT

Randy Smith, Director of Operations at Another Closet Self Storage in Texas, has essentially declared war on self-storage aggregator companies. Not only has he grown his facility over the last several years through tough economic times but he has done it without the use of self-storage aggregators. You can hear Randy at the Great Debate in Las Vegas at the upcoming ISS World Expo March 14-16th.

There is also an excellent article in the March/April issue of the Texas Self Storage Association Magazine about Aggregators and the Self-Storage Industry.

Self-Storage Aggregators - Friend or Foe?

Melissa Roberts — Thu, 23 Feb 2012 20:34:42 GMT

Excerpt taken from the January 31, 2012 Press Release from SSAAA.org (The Self Storage Anti-Aggregator Alliance)

The Self Storage Anti-Aggregator Alliance issues alert to operators concerning inaccurate online directory listings - offers free how-to guide to every self storage operator allowing them to quickly check for correct content on multiple online free business directory listings.

FOR IMMEDIATE RELEASE – (McAllen, Texas) – The Self Storage Anti-Aggregator Alliance has released a brief synopsis of one issue brought to light concerning a possible questionable practice as employed by some businesses. Randy A. Smith, the industry’s most outspoken critic of the online aggregators is quoted as saying, "I've received numerous reports of troubling instances from operators of every size and location from around the USA. One issue in particular seems to be rising to the top of the list of complaints. Operators are discovering that some of their free, online business directory listings at sites like Local.com, Merchant Circle, and CitySearch have had their contact info changed or listed inaccurately. In several cases, the listing has the right business name and address, but the phone number and/or website link leads to another business, which in many cases is a competing business."

As the manager of two self storage facilities in a small town, I work very hard at maintaining and promoting our company website. When I first heard about these aggregator issues I honestly thought that these problems didn't effect us because I work on our online marketing on a daily basis. Surely I would know if there were a problem with my online listings... right?

In doing my research about this aggregator issue that I was hearing so much about, I decided to try out the free guide offered by SSAAA.org and check out the listings for our facilities myself.

This process is not a short one. I worked on this guide for well over 5 hours. What I found was down right frustrating! I found six listings (and please note, I didn't finish because of time constraints) that have incorrect listing info. The facility name and phone number were usually correct, however the web address and email addresses had been altered to reflect aggregator company info. The time consuming part was going in to each listing individually and claiming the listings so I could correct the information to reflect our facility contact info. One listing on Bing had actually already been claimed, presumably by the aggregator company, which listed their web address, not mine!

This is a blatant attempt to drive prospective tenants away from our company website, which I again mention that I put alot of time into maintaining, and instead linking them to their aggregator site. The focus of these sites are to provide the customer with the cheapest units available. While that sounds great on the surface... I mean we all want a good deal, right?... the problem remains that our facilities aren't being represented fairly! The amenities offered at these various facilities aren't listed, unless of course you are willing to pay a premium price for those listings!

So while the customer gets a nice list of unit prices and locations, what they don't get to see is which facility offers paved driveways that are well lit at night, or facilities that have added extra security features including cameras, gate entry codes, and cylinder or disc locks, or facilities that have on-site staff, or temperature-controlled units. The facility's value is diminished and the potential customer is unfairly left to pick facilities based on price and often miss out on the many benefits self storage really has to offer.

I challenge every facility to check out www.ssaaa.org and look into your online listings! Then you can decide... are Self-Storage Aggregators Friend or Foe?

North Carolina Working to Avoid Sales Tax

Melissa Roberts — Tue, 08 Jun 2010 16:52:27 GMT

North Carolina SSA Working to Avoid Sales Taxes
Uncertainty about the availability of federal funds to help with state budget needs has many industries in North Carolina concerned about taxes targeting their businesses, including self storage. The state faces an $800 million shortfall for the fiscal year beginning July 1, and many legislators are backing a plan that would tax private services. As has been the case previously in other states, revenue administrators have included self storage among the list of services they plan to target with a tax. The Self Storage Association is helping to fund NC-SSA lobbying efforts to fight the plan. Read more about North Carolina's budget woes by clicking here.

From the SSA Monday Morning Memo June 7, 2010

Leading Economic Indicators

Melissa Roberts — Mon, 26 Apr 2010 16:32:09 GMT

Leading Indicators Point to Strengthening Economic Recovery; Risk of Double-Dip Recession Diminishing

April 23, 2010

The index of leading economic indicators recently posted the most significant gain since the recession ended. In March, the index increased 1.4 percent, marking the 12th consecutive month of improvement. Seven of the 10 components comprising the index contributed positively to the March reading, including initial unemployment claims, building permits and stock prices, up from six components in February. Strengthening of this index demonstrates the economic recovery is advancing and will broaden to include more sectors as the year progresses.

To read more click here....

Lien Law Provision changes...

Melissa Roberts — Mon, 26 Apr 2010 15:38:28 GMT

Here is some interesting information from other states that are working on lien law changes...

Good News in Arizona & Wisconsin; Florida Loses Bid for Lien Improvement
During a busy week as legislatures looked to close their 2010 sessions, lawmakers in Arizona and Wisconsin gave state SSAs something to cheer about, while Florida lost its bid to remove a costly lien provision.

Arizona - The Arizona SSA has again established a model bill that could be used to establish business-friendly regulations in other states. The measure, signed into law last week, protects operators from liability when "protected property" is left in abandoned units. Firearms, pharmaceuticals, sensitive information and other items are addressed in the new law. It also provides for an e-mail option as "verified mail" in lien situations.

The law was championed by the Arizona SSA and led by Richard Marmor, the Chairman of the AZ-SSA's Legal and Legislative Committee, and promoted by the SSA which contributed $16,000 from its Legislative Issues Fund. Key features of the new law include:

· E-mail will be allowed as another form of "verified mail" in many cases.
· Storage operators will have alternative ways for dealing with "protected property," materials which they were not permitted, by law.
· Storage operators will be able to auction boats, motor vehicles and other property which they could not sell in the past when those items were subject to certain government "restitution" liens.

"Our thanks go out to all the people who made this possible including those AZSA members who have donated to our legislative fund, and to the Self Storage Association for a generous grant from the SSA Legislative Fund," says Martin Lorch, President of the Arizona Self Storage Association. "Without a doubt, this new law is a boon to all self-storage operators in Arizona," he said.

Wisconsin - The state's lien improvement bill, AB707, passed the Senate as one of the last measures considered in the legislature this year. It will likely be signed by Governor Jim Doyle in the next few days. The new law provides for value limitations and protects self storage facilities from non-tenant litigation. An improvement to the existing law that would have given operators the choice of newspaper or Internet-based lien notices was removed before the Senate vote after state publishers objected.
"We believe giving self storage operators an alternative method of advertising for auctions is the natural progression given emerging media options," said SSA Board member Lisa Barth-Chiappetta, who led the Wisconsin effort. "In coming years legislatures, including Wisconsin's, will have to tackle this issue. The most important provisions of this bill were passed however, and we're excited to have a better law moving forward."

Florida - Efforts to replace the existing "certified mail, registered mail" lien notification process with a less expensive alternative were thwarted last week in the Florida House of Representatives. This is the first year that the SSA, together with the Florida SSA, has tried to improve the lien bill in that state. The measure was added to a larger bill two weeks ago, yet it appears politics got in the way and it was removed in the House Rules Committee before a vote was taken. The SSA & Florida SSA are still committed to the Florida campaign and will continue efforts to modernizes the lien statute in that state.

Our Key Note speaker for the May Luncheon has an article with ISS

Melissa Roberts — Wed, 17 Mar 2010 16:46:39 GMT

Bob Copper is our key note speaker for the May Luncheon in Knoxville. He is a leading consultant specializing in all aspects of self storage including operational improvement, training, audits, feasibility/market studies and due diligence. Here is a recent article written by Mr. Copper for ISS Inside Self Storage.

The MIP in the Self-Storage Business: The Facility Manager

Bob Copper
03/10/2010

This is going to come as a shock to some owners, district managers and corporate officers: You are not the most important person in your business. That distinction clearly belongs to the facility manager. Storage operators must now employ the highest quality managers and ensure their training and professionalism are superior...click here to view the rest of the article.

Florida Self Storage Association Adds 'Power Panel' to Spring Conference

Melissa Roberts — Wed, 10 Mar 2010 14:01:55 GMT

03/09/2010 From ISS Inside Self Storage

The Florida Self Storage Association has added a ‘power panel’ of speakers to its upcoming conference and tradeshow, May 5-7, at Disney’s Contemporary Resort in Lake Buena Vista, Fla. The Storage Summit will take place on Thursday following the keynote presentation by Paul Martin, author of Attitude Over Adversity.

The Storage Summit panelists are Anne Ballard of Universal Management Co., Michael Haugh of Absolute Management, Brenda Scarborough of Accountable Management, Marc Smith of Personal Mini Storage, and Steve Wilson of Hide-Away Storage. Representing more than 110 years of combined self-storage experience and 147 self-storage facilities in Florida, Georgia and Tennessee, they will share with self-storage owners what they are doing in their own companies. FSSA President Rick Yonis will moderate the panel as questions are asked from the audience.

The FSSA is a non-profit organization comprised of individuals who have an interest in the self-storage industry in Florida. Members include facility owners, operators, developers, investors, managers and suppliers.

Improving Self Storage Lien Laws

Melissa Roberts — Mon, 08 Mar 2010 12:23:38 GMT

Bill Improving Self-Storage Lien Law Makes Progress in Wisconsin

03/01/2010

Wisconsin is one step closer to improving its self-storage lien law. Assembly Bill 707 made it through the Assembly Committee on Jobs, the Economy and Small Business without opposition last week. AB707 significantly improves self-storage lien-sale notification procedures, supports facility operators with a value-limitation measure, and limits exposure to litigation involving non-tenants. The measure also redefines what constitutes a reasonable auction sale as one that includes three or more bidders.

Lisa Chiappetta, member of the national Self-Storage Association’s board of directors, has been instrumental in promoting the legislation. Wisconsin is one of several states working to improve obsolete self-storage lien laws during the 2010 session.

Related Articles:

Resolving Self-Storage Defaults and Avoiding Lien Sales

Self-Storage Operators BEWARE: Wrongful-Sale Scam!

Michigan Self-Storage Operators Await Lien-Law Amendment

From ISS Inside Self Storage

Former Extra Space Manager Addresses Nashville Women Investors Meeting

Melissa Roberts — Fri, 19 Feb 2010 11:12:29 GMT

Self Storage Industry News
The speaker will be Anne Williams, past president and co-founder of the Tennessee Self-Storage Association...

To view the entire article click here.

Michigan - Sales Tax on Services, Self Storage

Melissa Roberts — Tue, 16 Feb 2010 22:40:10 GMT

Post from the SSA Monday Morning Memo dated 2/15/10

Michigan First State in 2010 to Propose Sales Taxes on Services, Self Storage
Michigan Gov. Jennifer Granholm proposed last Thursday that the state sales tax be extended to consumer services, including "self-service storage," and the rate dropped from 6 percent to 5.5 percent. This isn't the first time self storage has been caught up in the Michigan budget mix. Two years ago officials also proposed a tax overhaul that expanded sales taxes to services, listing self storage among those businesses that would be affected. The Michigan SSA and national SSA, working with a group of other targeted sectors, successfully defeated the plan. With the new budget expected by the summer, the Governor's proposal will be the subject of heated debate in the months to come. The national SSA Legislative and Regulatory Advisory Committee voted to support the Michigan SSA with funding for the battle this spring. The SSA contends that self storage is the rental of real property and should not be subject to any sales tax. Last year Arkansas became the first state to repeal sales taxes on self storage. Read more by clicking here.

Other recent legislative developments include:
- The SSA and California SSA met with Judiciary Committee reps last week and expect that state's lien improvement bill to be introduced in late April or early May. Last year the national and state associations worked to improve the current statute, which includes the troublesome "Declaration of Lien Opposition." The bill was tabled until this year when California's government became mired in a lengthy budget debate.

- A hearing will be held on Wisconsin's lien improvement bill this coming Wednesday. The bill championed by the WI-SSA improves notification procedures.

- A new law on Maine self storage privacy would hold operators harmless in the case of abandoned records, with certain provisions about transferring custody to a state authority/department. Last year the Maine SSA and national SSA successfully won a delay of the initial proposed law that would have put the onus on self storage companies. Legislators in the state's capital of Augusta seem resistant to imposing new regulations on small businesses, which may put any new law in doubt.

Rep Rangel/ House Votes to Increase Tax on General Partnerships

Melissa Roberts — Tue, 22 Dec 2009 11:29:26 GMT

Post from the SSA Monday Morning Memo dated 12/14/09

The SSA encourages its members to voice their opposition to "Tax Extenders Act of 2009." Passed last week by the House of Representatives will more than double the taxes on carried interest received by general partners. Under this law, carried interest would no longer be taxed as capital gains at 15 percent, but as ordinary income at rates as high as almost 35 percent. The main proponent of the tax is Congressman Charles Rangel, chairman of the Ways and Means Committee of the House of Representatives.

As the SSA has stated in various communiqué's in the past, H.R. 4123 affects all partnerships, and not just the Wall Street hedge funds whose practices originally gave rise to the proposal. If enacted into law, this proposal could be the largest modification to the taxation of real estate in more than 20 years, since the Tax Reform Act of 1986.

The SSA joins representatives of other real estate sectors, including NAIOP, the National Apartment Association and others in urging its members to get involved. Please communicate with your Senator, letting them know that this tax increase on carried interest will further damage the commercial real estate industry and undermine efforts in their own communities to spur job growth and economic recovery. You can reach your representative by clicking here.

Congratulations to the TNSSA's Newly elected Board of Directors.

Melissa Roberts — Tue, 08 Dec 2009 22:18:05 GMT

Our final meeting for 2009 was held in Memphis on November 17th with almost 50 in attendance. The presentation by Jim Gray of Storage Marketing Solutions (SMS) was very informative. At the request of several of the attending owners, Derek Naylor, the founder of SMS, has committed to holding a webinar for our members in January. In this webinar he’ll discuss how to develop a marketing strategy and budget, internet and social media marketing and common marketing misconceptions.

This was an important meeting as the 2010 Board of Directors was elected: President, Dee Sharp, William Knight Insurance, Knoxville (2010); Vice President, Melissa Roberts, Storage Depot, Dunlap (2010-2012); Secretary, Michael Haugh, Absolute Storage Management, Memphis (2010-2012); Treasurer, Anne Williams, Marcus & Millichap, Memphis (2010-2012); Stacey Gorman, Marcus & Millichap, Atlanta (2010); Nick Robbins, Southern Rib Roof, Memphis (2010); Frank Riley, U-Store-It, Memphis (2010); Sherry Cole, Storage Plus, Murfreesboro (2010-2012); Pat Conroy, Brentwood Investors Group, Nashville, (2010-2012); Ben Spina, Cedar Bluff Self Storage, Knoxville (2010-2012); David Woodard Secure Self Storage, Gallatin, (2010-2012); Todd Levy, Storage Structures, Atlanta (2010-2012); Britt Skrivanek, Betco, Nashville (2010-2012).

Taking leadership of TNSSA committees are: Ben Spina - Communications Committee, Todd Levy - Events & Education, Melissa Roberts - Website, Sherry Cole - Legislative, and Britt Skrivanek - Membership. We want to thank each of the board members who have chosen to volunteer their time and effort to their new roles within our association. We welcome members to join these committees and become part of the changes that are planned for the future of TNSSA.

Our next quarterly luncheon will be held on Tuesday, February 16th in Chattanooga. Details regarding the time and location will be communicated soon through our website. Also, we are anticipating our new “Members Only” feature on our website to be completed and accessible in February.