Self Storage Definitions

Overview

Defining what counts as “self storage” isn’t always straightforward. “Storage” can include everything from climate-controlled units in multi-story facilities to drive-up garages that look like enclosed parking spaces. As more operators market vehicle storage, RV bays, or hybrid models as “storage,” it can be unclear where to draw the line. To maintain data consistency, we need a clear standard for what TractIQ includes as self storage and what we exclude. 

Inclusion criteria for a facility

General definition: A property qualifies as self storage if its primary use is to rent individually secured, enclosed spaces (typically between 25 and 400 sq ft) for personal or business storage, accessible directly by the renter.

1. Operational or under development: The facility must either be being built/renovated, currently supporting tenants, or there is some way for someone to rent a unit. 
2. Enclosed rentable space: Has at least 500 net rentable square feet (NRSF) of fully enclosed, individually rentable spaces accessible by tenants.
   1. Units may be interior, drive-up, or climate-controlled.
   2. Portable or containerized units count if permanently located and individually secured.
3. Intended use: Spaces are marketed and used for personal or business storage, not as warehouse, industrial, or logistics space.
4. Rental structure: Units are available for month-to-month or short-term rentals (generally under one year). Long-term commercial leases or warehouse tenancies are excluded.
5. Dedicated storage purpose: The enclosed units must be dedicated primarily to storage, not living, office, or retail use. Mixed-use properties qualify only if storage space is clearly delineated and separately rentable.
6. Renter access: Tenants store and manage their own items, meaning the operator does not handle goods or provide inventory services.
7. Individual security or separation: Each rentable space should be physically separated and securable (e.g., with a roll-up door, lock, or gated container). 
8. Publicly rentable: Units must be available to the general public or to a broad set of renters – not reserved exclusively for a single business, HOA, or member group.
9. Permanent or semi-permanent structure: Storage spaces should be fixed in place, not temporary pop-up structures, tents, or seasonal storage setups.
10. Commercially operated: The property should be operated for profit – not personal garages, government storage depots, or non-rental facilities.
11. Identifiable as a distinct facility: It should have a name, address, or online presence indicating it rents storage units (e.g., signage, listing, website, or third-party marketplace profile).
    
    

Exclusion criteria for a facility

1. Vehicle, Boat, and RV Storage
   1. Open-air parking lots used for vehicle, boat, or RV storage.
   2. Covered parking canopies without enclosed, securable walls.
   3. Fully enclosed garages only marketed for vehicle parking or storage (not general self storage).
   4. Specialized vehicle storage facilities (e.g., car condos, collector garages, RV service centers).
2. Warehousing and Industrial
   1. Distribution centers, fulfillment warehouses, or logistics hubs where operators manage stored goods.
   2. Flex industrial or light manufacturing spaces marketed for operations rather than storage.
   3. Single-tenant warehouse buildings leased under long-term commercial agreements.
3. Non-Commercial or Restricted Access
   1. Private garages or storage buildings not rented to the public.
   2. Government, military, or institutional storage depots.
   3. HOA or community-owned storage areas for residents only.
4. Temporary, Portable, or Non-Enclosed
   1. Tented, pop-up, or portable container lots where units are delivered to a customer’s location and not stored onsite.
   2. Mobile storage pod operators (e.g., PODS, 1-800-PACK-RAT) unless they also maintain fixed, rentable onsite storage.
   3. Unsecured sheds or barns lacking individual unit separation or tenant access controls.
5. Mixed-Use or Misclassified Sites
   1. Mixed-use buildings (office, flex, or residential) without a clear, physically separated storage component.
   2. Coworking or live/work spaces offering “storage” only as a secondary amenity.
   3. Retail or e-commerce “micro warehouses” with active use of inventory.
6. Very short term or tiny rental space like lockers and luggage storage
   
   

Classifications for REIT, Non-Designated, & Sophisticated Sites

The definitions for TractIQ are:

• REIT = Public Storage, CubeSmart, ExtraSpace, SmartStop and any brands they own or that are under the National Storage Affiliates umbrella operate this facility.
• Sophisticated Operator = This operator manages 15+ stores.
• Non-Designated = This operator manages fewer than 15 stores.