Inside Self-Storage

DEC 2018

Inside Self-Storage (ISS) is an information source for industry owners, managers, developers and investors covering news, trends, facility operation, finance, real estate, construction, development, marketing, technology, insurance and legality.

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INSIDE SELF-STORAGE I December 2018 I VOLUME 27 I NUMBER 12 ISS INSIDE SELF-STORAGE (ISSN 1087-4054) is published monthly, by Informa Exhibitions LLC 2020 N. Central Ave. #400, Phoenix, AZ 85004; (480) 990-1101, Fax # (480) 990-0819. Periodicals postage paid at Phoenix, AZ, and additional offi ces. POSTMASTER: Please send address changes to: ISS INSIDE SELF-STORAGE, P.O. Box 3439, Northbrook, IL 60065-3439. Volume 27, Number 12. ISS INSIDE SELF-STORAGE subscription rates: one-year Domestic $99; one-year Canada USD $115; one-year Foreign USD $150. All subscriptions are nonrefundable. Copyright ©2017 Informa Exhibitions LLC. All rights reserved. The publisher reserves the right to accept or reject any advertising or editorial material. Advertisers, and/or their agents, assume the responsibility for all content of published advertisements and assume responsibility for any claims against the publisher based on the advertisement. Editorial contributors assume responsibility for their published works and assume responsibility for any claims against the publisher based on the published work. No part of this publication October be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without permission in writing from the publisher. All items submitted to ISS INSIDE SELF-STORAGE become the sole property of Informa Exhibitions LLC. Editorial content October not necessarily refl ect the views of the publisher. All correspondence and inquiries should be addressed to: ISS INSIDE SELF-STORAGE, 3300 N. Central Ave., Ste. 300, Phoenix, AZ 85012. Vice President, Inside Self-Storage Teri L. Lanza Editor Amy Campbell Contributing Editor Tony Jones Business-Development Manager Debbie Pirkey Project Coordinator Kortney Hannes Founder Troy Bix Art Director Robert Rys Production Manager Bonnie Streit Subscription Customer Sales 800.581.1811 Events Department Senior Director, Events Aleigha Frazier Marketing & Education Manager Melissa Black Informa Exhibitions U.S., Construction & Real Estate Inc. President Rick McConnell Director Jayne Dalton Human Resources Manager Erin Dudley Colvin Published by Informa Exhibitions LLC 2020 N. Central Ave. #400, Phoenix, AZ 85004 Phone 480.990.1101 Fax 480.990.0819 Website: www.insideselfstorage.com FEATURES 14 Easing the Burden of Annual Budgeting Creating an annual budget for your operation is challenging but necessary. Here are five areas on which to focus when forecasting your financials for 2019. By Matt Van Horn 16 Running at Peak Performance A solid operations checklist can ensure you regularly review key areas for peak performance. Here are critical questions that must be answered to ensure your business runs smoothly. By Melissa Stiles 20 Hands in the Cookie Jar One of the greatest risks to owning a self-storage facility is employee theft. Regular audits can uncover and prevent this crime as well as expose other business problems. By Magen Smith 26 Writing Policies and Procedures Outlining how specific tasks and scenarios should be handled at your facility is important to create staff accountability. Learn how to craft a solid manual. By Matthew Van Horn 28 Seeking 'The One' Hiring is one of the most important tasks in operating and growing your storage business. Follow these seven strategies to evaluate manager candidates and find the right fit for your organization. By Joseph Biard 14 16 20 28 26 2 ISS I December 2018 www.insideselfstorage.com

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