Site Information • Section 6 In


addition to the specific customer demographics dis- cussed in Section 4, it is also important to understand other information related to the self-storage site it-


self. This can be very beneficial when building a facility or managing the day-to-day operations once a facility is up and running.


Length Of Rental The length of time that a customer rents a unit varies between customer types. As seen in Chart 6.1, 21 percent of customers surveyed for the SSA 2017 Self Storage Demand Study rented their unit for one to two years, while 20 percent only rented for three to six months. On average, 17 percent stayed less than three months or between seven and 12 months.


Clearly, millennials tend to rent for a shorter period of time than the other age groups; 23.9 percent


rented for less than three months— a number substantially higher than those seen for the same average length of stay in Chart 6.1.


Approximately 15 percent of those surveyed


reported renting their unit for three to five years. Remarkably, six percent stated that they rented for six to 10 years and four percent rented for more than 10 years.


Table 6.1 reflects the length of rental by genera-


Unit Size Rented What size units do most customers prefer? This varies de- pending on location. In a college town, for instance, where students do not have a lot to store between semesters, a


Less than 3 months 3 to 6 months


     23.9% 13.4% 15.2% 14.2%


7 months to 12 months 1 to 2 years


Longer than 2 years


tion. Clearly, millennials tend to rent for a shorter period of time than the other age groups; 23.9 per- cent rented for less than three months—a number substantially higher than those seen for the same average length of stay in Chart 6.1.


21.6% 16.7%


Source: 2017 Self Storage Demand Study (SSA) 21.8% 23.0% 16.1% 27.3% 27.6%


20.7% 17.3% 18.8% 15.7% 19.2% 13.2% 20.7% 15.2% 38.7%


Similar to the average numbers, 21.8 percent of millenni-


als rented their units for one to two years and 21.6 percent rented for three to six months—slightly higher than the group average. Nearly 17 percent of tenants in this age group rented for seven to 12 months, while 16.1 percent stayed lon- ger than two years.


As mentioned previously, business customers are often


sought out because they tend to rent their units for longer periods of time than non-business renters. As seen in Chart 6.2, 48 percent—nearly half—of all business customers stayed for two or more years. Among the remaining custom- ers in this group, 29 percent stayed less than a year and 23 percent stayed for between one and two years.


2018 Self-Storage Almanac 69


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