Subscribers

Self-storage trusts are the hottest Reits in US

Investors pouring into asset class in the search for yield

[SEATTLE] Kelsey Smith is a single mother who works as a waitress in Midvale, Utah, and lives with a roommate in a small apartment in the Sugar House neighbourhood of Salt Lake City. Ms Smith, 26, pays US$500 a month for daycare for her three-year-old, which makes it hard to get by on a waitress's pay. She says she's had to move to cheaper lodgings six or seven times.

Rather than drag all her belongings with her, Ms Smith rents a three-metre-by-five-metre self-storage unit, for which she pays US$80 a month - as much as two shifts' worth of wages and tips. The unit contains furniture and other items she's accumulated over the years - "just the things you'd need if you had a home", she says. "People...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes