Are you seeing more tenants than ever? Foreclosures forcing homeowners to store their humble belongings because they no longer have a long-term housing situation? Had anyone sleep at your site? Are more tenants going deliquent?

Our delinquents have not changed (yet?) but we are seeing a lot more move outs (need to save money) and a lot more moving in (renters being kicked out of a foreclosure.)

Our location is usually a very laid back place, but lately our traffic has doubled keeping us on our toes.

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Wayne
All American Self Storage
Palmdale, CA.
webmaster@all-americanselfstorage.com

We are very slow. A few vacates, and a few rentals. Even the UHaul business is down.

Bob (Astro)

our U-Haul business has dropped off considerably in the last 2 months. We are approaching the end of the month, and historically the U-Haul line should be ringing off the hook......and it hasn't rung all week.

Our storage business is doing great, Jan - March were so-so, but ever since April 1, there has been a tremendous demand for storage. Unfortunately, there are a good many home foreclosure customers, and a good many renters of homes that the owner didn't pay the mortgage payments for, and the renter is giving 48 hours notice to vacate for the foreclosure. This is tough for the renter as they have been paying their rent on time to the homeowner, and don't have a place to go in 48 hours, plus have to pack, get a truck, and find a place to store things. They also usually haven't saved much money up since they have been paying their rent.

Delinquency has started creeping up over the last couple months. Before that, I think the tax rebate money arriving in April - June kept delinquencies from being worse, but now that money is gone.

We are full and turning customers away, but we do not seem to be getting as many calls.

I wish i was full. But we are holding our own and our deliquancy are down this month we are at 3% as of today We have seen it as high as 17% but we are really tring to work with ppl as we have a high job loss here in Tampa.

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Proud Karate Mom

The phones are not ringing at our facility. I have had 1 move-in all last week. My customers are happier to move their stuff out and clutter the house then to loss their belongings. my delqu. is at 17.9% as of this morning, which is pretty high for this facility, normally around 9ish.

Unless the housing situation gets a lot worse I dont see us picking up anytime soon.

I've seen more this month move outs or ppl consalidating there units if they have more then one. but on the same hand we seem to be getting move ins also, ppl from more expensive areas moving in to are area, so far we seem to be able to balance out. Are past dues are about normal but the ones longer then 45 days seems to be increasing.

Not sure what I'm doing right these days

move outs this month -- 21 (up about 25% from previous months)

move ins this month -- 26 (also up about 25%)

delinquency rate - about the same as always in the 2 to 5% range.


There are times I look at the news with the banks closing and the govt bailing everyone out and I think I am lucky to be where I am.

No matter what the economy does I feel pretty safe as a resident manager working for these owners.

Not many people can say that these days!

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Wayne
All American Self Storage
Palmdale, CA.
webmaster@all-americanselfstorage.com

I competely understand...the economy needs to get better and we will have a lot more move ins or get worse and we will have all the business we can handle...it is sad to think of it that way, but it is the truth. I have no idea what to do beside keep my property clean and answer the phone with a smile.