10/31/2022
๐ฆ๐๐๐-๐ฆ๐ง๐ข๐ฅ๐๐๐ ๐ ๐๐ฅ๐๐๐ง ๐จ๐ฃ๐๐๐ง๐๐
โช๏ธOver the last two years the self-storage industry has benefited form lack of seasonality, muted move outs, and historically high occupancies and pricing power, which has led to outsized returns.
โช๏ธMost of you have enjoyed and benefited form double-digit revenue and net operating income growth. It has been a great run!
โช๏ธAs we head into the fall, we continue to observe larger than normal move outs across our management portfolio. This is consistent with the self-storage REITS and other large operators in our industry.
โช๏ธWithout a doubt we are officially past the COVID bump and we should all expect more seasonal fluctuations in occupancies and more moderate revenue growth over the next several quarters.
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