“Self storage” is short for “self-service storage”, and is also known as mini storage. Public Self storage facilities lease space to individuals, usually storing household goods, or to small businesses, usually storing excess inventory or archived records. The rented spaces, are “units” (“rooms” or “lockers”), usually secured by the tenant’s own lock and key. Generally, facility operators do not have casual access to the contents of the space, unlike a professional warehouseman.

In most instances, a self storage operator never takes possession, care, custody or control of the contents of the storage rental space unless a lien is imposed for non-payment of rent. Self storage facility operators frequently provide controlled access to rental space areas, individual door alarms, interior units lights, and security cameras. Generally, goods or items stored are not insured by the self storage operator; they are stored at the tenant’s “own risk” or protected by tenant-purchased insurance.

In recent years, the self storage market has grown considerably within the UK, now considered one of the largest and most established in Europe, Self Storage Association in UK anticipates the market to grow with a compound annual growth rate of 10%-15% going forward. In the United Kingdom and Europe, the majority of self storage customers are residential. House movers probably account for 50 percent of the entire market and outside London and major European cities, “the lifestyle” customer is pretty much nonexistent. If half of the self storage UK marketplace is those moving from home to home, it’s scary to think people are getting nervous about over-inflated property values. […]