Self-Storage REIT Report Q2 2020

Mike Mele • 8/28/2020
Self-Storage continues to prove its resiliency through the pandemic, but REITs have not been immune to the effects that the pandemic has had on the economy.

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Fundamentals remained strong in the second quarter, with most operating metrics declining in Q2 2020 compared to Q2 2019. Occupancies held high. Rental income was hampered by heavy discounting on move-in rates as well as a pause on rate increases with existing tenants. Moreover, due to pandemic-related regulations in local jurisdictions, move-in and move-out activity was down compared to 2019.

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