236. Long-Term Effects of COVID on Self Storage w/ Dane Elefante

Self Storage Income

Self Storage was hit during the COVID-19 shutdown. But during that time, storage saw a surge in demand, which put it ahead of many other asset classes. It reacted in a way that many thought not possible in a recession.

But the problem is, the industry reacted very strangely. There became an assumption that you can succeed in storage with very little effort or improvement. As the economy shifts back towards the pre-pandemic normal, this approach HAS to change. The market will not simply work in your favor "just because."

In this episode, we talk with Dane Elefante about how the industry has shifted in recent years, but more importantly, how the shutdown impacted the mindset of storage owners and operators. And how that no longer works today.

Dane is the Chief Operating Officer at Platinum Storage Group. He has 16 years of commercial real estate experience in the self-storage property sector, and leads the firm’s data analytics business to integrate property-level, portfolio-level, and market data to inform sub-market location and design decisions.

Learn more about Platinum here: https://platinumstorage.com/

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