What Global Warming Means For Self Storage

Climate controlled self storage and global warming actually have something to do with each other. Our call center services self storage clients in major markets like New York, Chicago, Miami, Oakland, Austin, San Antonio, Kansas City, Fort Lauderdale, Brooklyn, Queens, New Jersey and others. Most of these self storage facilities have climate controlled self storage units. If the temperature averages edge up a degree or two, the summers will become even more hot and humid than they already are in many of these markets. This means more people will want to store their belongings in climate controlled self storage. This means less business for people who own or manage non climate controlled self storage and higher occupancies and profit levels for people who own or manage climate controlled self storage.

However, it will also mean higher costs. If energy costs continue to rise and if it takes more power to cool and dehumidify climate controlled self storage facilities, then rents will need to increase to keep up with the rising costs. There may be a point where the cost of renting a climate controlled self storage unit puts climate controlled self storage out of reach of the average self storage consumer. However like most purchases, climate controlled self storage is a purchase of perceived necessity. If you think you need a climate controlled self storage unit, then you will figure out a way to pay for it. You might not stay as long as you would if it was priced lower, but you will use it if you think you need it. As more baby boomers retire and down size, they will be passing their nice furniture and the furniture of their ancestors down to the next generation. All this furniture will need to go into climate controlled self storage while the next generation figures out what to do with it.

There are other unexpected costs associated with global warming that will impact both climate controlled self storage and non climate controlled self storage. Our call center is headquartered in Central Missouri. Historically our winters have brought more snow than ice when we get precipitation. But global warming is changing the flow of gulf moisture and the power this flow has. This winter we have gotten many freezing rain and ice storm events because the powerful flow of warm moisture from the Gulf of Mexico has ridden over the top of cold arctic air. In years past, the warm flow would not have been as powerful and these precipitation events would have brought snow. Snow is much less costly than ice and freezing rain from every perspective.

The cost of salting and cleaning up ice on a self storage property is far higher than dealing with a few inches of snow. Ice causes car wrecks, electricity outages and lost work time. A few inches of snow has very little impact on self storage or other businesses.

However, one cannot anticipate how changing weather can impact costs, consumer behavior or forecasting a return on investment. This may be where the next group of mathematical geniuses and actuarial wizards will create huge wealth. The forecasters who can help companies and governments anticipate and manage changing cost structures and new events of financial consequence will put their organizations in a powerful position. Those who go to work everyday thinking that things are as they always have been may wake up one day so far in the red that hey have to sell off assets at bargain basement prices or just close the doors and walk away.

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