FEDESSA European Self Storage Annual Survey 2020

Rent collection after 30 days of due date has seen some significant hits during Covid-19. The results of the survey suggest that self storage remains resilient with 91.3% of income collected and that the vast majority of debtors longer than 30 days will be paid.  

Based on the data provided by over 100 different operators covering 932 facilities and over 3 million square metres of currently available self storage space, we are able to provide an excellent insight into the industry on a pan-European level.  

Due to the extraordinary circumstances seen this year we asked operators to provide certain data points both before and during the global pandemic (February and June) to give an understanding of the impact the lockdown in Europe had on the self storage sector.  

The survey results have shown that rent collection in the self storage industry across Europe have remained largely unaffected by the pandemic. The 30 day arrears percentage is in line with what operators experienced in pre-pandemic times and the rental holidays or payment agreements are extremely low compared to asset classes such as retail, offices and logistics. This is an excellent result for the industry and testament to its resilience as an asset class. 

"The industry has once again shown it's resistance to economic adversity during the COVID-19 crisis with minimal loss of occupancy or revenue during lockdown or increase in bad debts since. Many operators now performing above their year on year results from 2019" Rennie Schafer, CEO FEDESSA