Joe Doherty posted on 4/17/2020 10:43:00 AM
Moratoriums on Commercial Foreclosure & Eviction and Late Fees As the coronavirus (Covid 19) spreads throughout the United States, several states and localities have enacted restrictions on foreclosures and evictions. Many of these orders that have been issued to date exclusively cover residential evictions and foreclosures. However, as the situation evolves, more states are expanding those restrictions to cover commercial evictions as well. Some of the commercial evic...
Daniel Bryant posted on 4/17/2020 8:29:00 AM
UPDATED: April 16, 2020 at 7:00 p.m. (ET) Orders to Close or Reduce Operations and to Implement Preventative Measures As many SSA members have likely seen in the news, several states and local governments have imposed restrictions on business operations in an effort to combat the further spread of coronavirus (Covid 19).Although self storage operators may not be required to close entirely, you will need to be aware of state and local limits, as well as CDC guidance, ...
Mike Blackett posted on 4/6/2020 3:22:00 PM
April 6, 2020 The enterprises that gather under the Self Storage Association’s umbrella have each faced unique challenges over the past few weeks; we understand that all of you have experienced disruptions on a previously unforeseen scale. We appreciate particularly that without the technical advancements many vendors have engineered over the past two decades, today’s business continuity would be severely compromised. You are the innovators that have inspi...
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Laura Williams-Tracy posted on 4/2/2020 4:10:00 PM
How the Self Storage Industry Can Benefit from the CARES Act By Laura Williams-Tracy, SSA Magazine Amid a global pandemic that is rapidly halting economic growth and threatening a double-digit unemployment rate, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act in late March. The CARES Act will provide nearly $2 trillion in emergency relief to blunt expected monumental losses to people and businesses in the wake of the pandemic. It is unknown what...
Mike Blackett posted on 3/30/2020 2:45:00 PM
SSA Advocacy Plays Critical Role in Industry's COVID-19 ResponseNo element is more important to the Self Storage Association's mission than promoting the industry's vital role within our culture, including the critical supply chain, distribution and transitional needs of our communities. No element is more unique to the SSA's mission than the advocacy work we perform on behalf of the sector, which encourages fair treatment of the industry in the public arena. "The self ...
Joe Doherty posted on 3/25/2020 11:21:00 AM
Expanded Leave Law to Affect Self Storage Operators Last week, Congress passed and the President signed legislation to provide many employees with expanded paid family and medical leave in response to the COVID-19 pandemic. The Families First Coronavirus Response Act (the “Act”) will take effect on April 1, 2020. The Act will have a significant effect on self storage businesses and their employees. Read on to learn how the Act will affect you. Which Employers Ar...
Laura Williams-Tracy posted on 3/23/2020 6:29:00 PM
Self storage capital markets that were humming along nicely a mere three weeks ago face a sudden break as the coronavirus pandemic rattles investors, delays closings, upends debt markets and puts optimism on hold for those trying to lease up new facilities.
Joe Doherty posted on 3/20/2020 12:51:00 PM
We have heard from many of you asking whether self storage is considered an essential business in light of recent statewide and local orders to close non-essential businesses. First off, most states have ordered the closure only of a certain set of businesses that commonly attract large gatherings, such as gyms, bars, and sit-down restaurants. In the states with broader orders, it is impossible to give a simple yes or no answer to whether self storage is essential or non-e...
Laura Williams-Tracy posted on 3/19/2020 1:40:00 PM
The global coronavirus pandemic is upending markets and throwing uncertainty into every aspect of business.
Mike Blackett posted on 3/19/2020 12:17:00 PM