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As prices for the small storage bins range between $5 and $10 per unit, they are increasingly becoming a popular storage option in both consumer and commercial applications. [6] Bloomberg News cites the dramatic increase in demand over supply as being the primary reason for the bin storage option becoming so popular in cities like New York.
Self storage (a shorthand for "self-service storage," and also known as "device storage") is an industry that rents storage space (such as rooms, lockers, containers, and/or outdoor space), also known as "storage units," to tenants, usually on a short-term basis (often month-to-month). Self-storage tenants include businesses and individuals.
Storage Equities was founded by Public Storage in 1980 [17] to purchase self-storage facilities. [9] It was one of 17 self-storage REITs that Public Storage held an interest in. [18] Between 1992 and 1995, Storage Equities paid Public Storage $31 million in management and consulting fees. [6]
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