Rental Rates • Section 4
second quarter of 2015, the asking rates for 5-by-10 climate-con- trolled units were $22.40 more than the rates for 5-by-10 non- climate-controlled units, 10-by-10s were $34.71 more, 10-by-15s were $46.23 more, and 10-by-20s were $58.61 more.
As over-year rental rate
previously mentioned, year- increase for
climate-controlled units shows how much the self-storage industry has grown during the past year as well. When taking a closer look at 5-by-5 climate-controlled units we can see that the largest rate increase, 4.1 per- cent, took place in the second quarter of 2015. According to the data, the next the next largest increase was 3 percent in 2Q 2014.
On a quarterly basis, 2015 set the
highest rental rate gains from its first to second quarter. During the second quarter of 2015, self-storage facilities throughout the U.S. posted significant rental rate increases for both climate- controlled and non-climate-controlled units of all reported sizes. When look- ing at Tables 4.1 and 4.2, it is clear that this particular quarter was the most profitable across the board.
From the first quarter of 2015 to
the second quarter of 2015, the ask- ing rates for both 5-by-5 and 5-by-10 climate-controlled units increased by 4.1 percent—the largest rental rate increase among all unit sizes. For the same period, 10-by-10s enjoyed the largest rate increase for non-climate- controlled units with 3.6 percent.
On the other of the spectrum, al-
though it is the largest size listed, the rental rates for 10-by-20 climate-con- trolled units only increased 3.3 per- cent from first quarter 2015 to second quarter 2015—the smallest increase of all unit sizes for that timeframe. The opposite was true for non-climate-con- trolled units, with the asking rates for 5-by-5s climbing 3.3 percent from the first to the second quarter of 2015.
In addition to the growth cycle
seen by the storage industry, it is also essential to note the seasonality that
Climate-Controlled 10 x 15 Non-Climate-Controlled 10 x 15 Source: © 2015 REIS, INC. 2016 Self-Storage Almanac 49 $250.00 $200.00 $150.00 $100.00 $50.00 $0.00
$0.00 $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 $140.00 $160.00 $180.00
Non-Climate-Controlled 10 x 10 Climate-Controlled 10 x 10 Source: © 2015 REIS, INC.
Chart 4.4 – Asking Rent for 10 x 15 Climate-Controlled Vs. Non-Climate-Controlled
comes with self-storage. And the numbers presented in Tables 4.1 and 4.2 prove that storage demand tends to decrease dur- ing the winter months. This may be the result of holidays and inclement weather. Consequently, because rental rates tend to fluctuate with demand, it is no surprise that the fourth quarter
Chart 4.3 – Asking Rent for 10 x 10 Non-Climate-Controlled Vs. Climate-Controlled
2011 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
2011 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
Asking Rent
Asking Rent
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