SmartStop Self Storage

What SmartStop Self Storage does

SmartStop Self Storage REIT, Inc. (NYSE: SMA) is a publicly traded self-storage real estate investment trust operating more than 460 owned or managed properties across 35+ U.S. states and four Canadian provinces, totaling approximately 43,000 units and 4.3 million rentable square feet as of Q1 2026. Its core product is month-to-month self-storage unit rentals (sizes ranging from 5'x5' to 10'x30'), supplemented by specialty modules including vehicle, RV, boat, business, and student storage, dedicated office space, and climate-controlled units. The platform is accessible through a bilingual EN/FR website, a free reservation flow with no credit-card requirement, and a native mobile app (iOS and Android) supporting gate access, account management, and rent payment. Customer-facing amenities include personal keypad entry, 24-hour video surveillance, and 6am-10pm PST live phone support plus live chat.

The company generates revenue primarily through recurring monthly rental fees (subscription_recurring), with ancillary streams from tenant insurance, administrative fees, moving supplies, and transaction-fee income from online auctions of defaulted-unit contents conducted via StorageTreasures (U.S.) and iBid4Storage (Canada). A second growth vector is third-party management services delivered through Argus Professional Storage Management (ArgusPSM), acquired in September 2025 for $21.1 million, which manages over $1 billion in assets and now exposes property owners to a real-time Owner Portal, daily/weekly KPI reports, and fully digital monthly financial packages. Full-year 2025 total revenues were $249.5 million, up 13.9% year-over-year, with Q4 2025 FFO as adjusted of $32.5 million ($0.55 per share, up 180% YoY) and 2026 FFO guidance of $1.93-$2.05 per share.

Capital structure supports an aggressive growth program: a $500 million senior unsecured multi-currency credit facility with up to a $1.1 billion accordion (led by KeyBank, Feb 2026), a CAD $500 million Canadian Maple Bond (June 2025), a CAD $200 million bond (November 2025), and a $100 million structured-capital joint venture with AXCS Capital (March 2026) targeting bridge debt and preferred equity in U.S. self-storage. A retail distribution partnership with Orchard Securities expands investor access to SmartStop-sponsored DSTs, while Class A development pipelines in Toronto, Edmonton, and Greater Montréal — and a U.S. presence of more than 460 facilities — anchor continued geographic expansion.

Name

SmartStop Self Storage

Legal name

SmartStop Self Storage REIT, Inc.

Website

https://smartstopselfstorage.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Public self-storage REIT (NYSE: SMA) operating 460+ facilities across 35+ U.S. states and four Canadian provinces, offering month-to-month residential, vehicle, and business storage, plus third-party property management through the ArgusPSM platform.

Ownership category

akta.pro rank

Product category

Self-Storage Services

NAICS

Lessors of Miniwarehouses and Self-Storage Units (531130), Lessors of Miniwarehouses and Self-Storage Units (53113)

SIC

Public Warehousing & Storage (4220)

akta.pro primary industry

Standard/Non-Climate Self-Storage (HSAKAGAB)

akta.pro secondary industry

Vehicle & RV/Boat Self-Storage (HSAKAGAC)

Keywords

• Self-storage rentals
• Vehicle storage parking
• Climate-controlled storage
• Third-party management
• Business storage units

Headquarters

HQ city

Ladera Ranch

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Self-Storage Unit Rentals: Month-to-month rental of self-storage units in a wide range of sizes (5'x5' to 10'x30') with no long-term contracts; primary recurring revenue stream. Pricing varies by location, unit size, and promotions (e.g., first month free, up to 50% off).
2. Vehicle Storage Rentals: Recurring rental of parking/vehicle storage spaces for cars, RVs, and boats, including enclosed and outdoor units at many locations.
3. Business and Office Space Rentals: Rental of business storage units and dedicated office space at select locations, sold on month-to-month terms.
4. Self-Storage Auctions: Online auctions of tenant-defaulted storage unit contents conducted via partners StorageTreasures.com (US) and iBid4Storage.com (Canada); transaction-based revenue from defaulted-unit contents.
5. Tenant Insurance and Ancillary Fees: Tenant insurance offerings, administrative fees, and moving supplies sold at locations (boxes, packing tape, mattress covers, etc.). Excluded from promotional discounts per the published terms.
6. Third-Party Self-Storage Management (ArgusPSM): Managed-services revenue from operating third-party-owned self-storage facilities under the ArgusPSM platform; managed REIT platform surpassed $1B in assets under management by Q4 2025.
7. Real Estate Credit / Bridge Debt and Preferred Equity (AXCS JV): Up to $100M joint venture with AXCS Capital deploying structured capital (bridge debt, mezzanine, preferred equity) into U.S. self-storage development, acquisitions, and recapitalizations; investment-driven revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels12 records

Core offering

SmartStop Self Storage rents month-to-month self-storage units in sizes from 5'x5' to 10'x30' across 460+ properties in 35+ U.S. states and 4 Canadian provinces, with optional climate-controlled units, vehicle/RV/boat parking, business storage, and office space. The company also operates the ArgusPSM third-party management platform for self-storage property owners and a $100M AXCS Capital real-estate credit joint venture, while providing customer access via a bilingual EN/FR website and mobile apps on iOS and Android.

Product overview

SmartStop Self Storage operates a unified self-storage platform spanning hundreds of facilities across the United States and Canada (over 460 properties and approximately 43,000 units reported in 2026 disclosures). The core offering is Self Storage (with month-to-month rental terms and online reservations), which is extended through a suite of specialty storage modules including Vehicle Storage, Car Storage, RV Storage, Boat Storage, Business Storage, Student Storage, and Office Space. Premium features such as Climate-Controlled Storage Units and facility amenities (24-hour video surveillance, keypad access, covered loading bays, elevators, moving supplies) are layered on the core platform. Customer-facing digital touchpoints include the SmartStop Mobile App (iOS and Android) and an online account management portal, with operations augmented by an Owner Portal and digital reporting suite rolled out via the Argus Professional Storage Management (ArgusPSM) third-party management brand following the 2025 acquisition. Auxiliary revenue and customer-engagement channels include the Self Storage Auctions (online) service and SmartStop REIT Advisors' investment programs distributed via partners such as Orchard Securities.

Differentiator

Problem solved

Functional benefit

Brands

• Argus Professional Storage Management (ArgusPSM): Third-party self-storage property management platform serving institutional storage owners.

Products and services

• Self Storage Month-to-month rental of self-storage units in sizes from 5'x5' to 10'x30' across 460+ properties in 35+ U.S. states and 4 Canadian provinces, with features including free reservations, online rentals, extended access hours, climate-controlled options, no long-term contracts, and personal computerized keypad access with 24-hour video surveillance.
• Vehicle Storage Dedicated parking and enclosed storage for cars, RVs, and boats at SmartStop facilities, with options including enclosed units (e.g., 10'x15' to 10'x30') and outdoor vehicle parking, secured by 24-hour video surveillance and keypad-gated access.
• Car Storage Specialized car storage service providing short- and long-term parking solutions for personal vehicles at SmartStop's facilities, with varying options by location.
• RV Storage Recreational vehicle storage solutions offering covered and uncovered parking spaces sized to accommodate RVs at SmartStop locations, particularly in regions where outdoor vehicle storage is permitted.
• Boat Storage Boat storage service offering parking spaces at SmartStop facilities for boats of various sizes, integrated into the broader vehicle storage offering.
• Business Storage Storage solutions tailored for business customers, providing flexible unit sizes suitable for inventory, documents, equipment, and supplies, with the same online account management and climate-controlled options available to residential renters.
• Student Storage Short-term storage service targeted at students needing space during summer breaks or semester transitions, with month-to-month rental terms and small-to-medium unit sizes.
• Office Space Office space rentals offered alongside self-storage units at SmartStop locations to accommodate growing small businesses.
• Climate-Controlled Storage Units Premium indoor climate-controlled storage units designed to protect temperature-sensitive valuables from extreme temperature variations, available at most Canadian facilities and select U.S. locations; this offering is the basis for SmartStop's recognition as the highest-ranked publicly traded self-storage company on Newsweek's 2026 Readers' Choice list for climate-controlled storage.
• SmartStop Mobile App Native mobile application available on iOS (Apple App Store id6739363953) and Android (Google Play com.smartstop.selfstorage) providing tenants with gate and door access, account management, rental control, and rent payment functionality.
• Self Storage Auctions (Online) Online self-storage auction service hosted via StorageTreasures.com (U.S./Canada), SelfStorageAuction.com (U.S.), and iBid4Storage (Canada), allowing bidders to participate remotely and acquire antiques, collectibles, tools, and other items from defaulted storage units.
• Argus Professional Storage Management (ArgusPSM) Third-party self-storage property management service accessible via SmartStop's "Third Party Self-Storage Management" navigation link. ArgusPSM was acquired by SmartStop Self Storage REIT in 2025 and operates as the third-party management arm of the company, with reported managed assets of over $1 billion, a Phase 1 Owner Portal, daily and weekly Key Statistics Reports, and fully digital monthly financial packages.

Quantifiable outcome

• $249.5 million in total revenue in 2025, up 13.9% year-over-year
• +7 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Ten partnerships are on record, tiered flagship / strategic capital partner, flagship canadian development partner, core platform acquisition, flagship retail distribution partner (reit side), specialized legal counsel, operational integration for us auctions, operational integration for canadian auctions, standard vendor integration, operational vendor and external public-figure stakeholder.

• AXCS Capitalflagship / strategic capital partnerStrategic or Co-development Partner · 24 March 2026Formed a $100M real-estate credit joint venture with AXCS Capital targeting bridge debt, senior loans, mezzanine financing, and preferred equity for U.S. self-storage development, acquisitions, and recapitalizations. Initial target of $100M in invested capital. The partners view the self-storage sector as at a compelling inflection point, citing declining new development starts, occupancy above 90% across leading operators, and improving supply conditions.
• SmartCentresflagship canadian development partnerStrategic or Co-development PartnerLong-standing development partner in Canada for SmartStop's Class A self-storage projects, including the new Toronto land acquisition (construction late 2026, opening late 2027), the Edmonton Alberta Class A development (announced March 2026, opening late 2028), and the Greater Montréal facility (5500 Rue Notre-Dame Ouest) developed in partnership with SST VI and SmartCentres. The Montréal facility is positioned along a major urban corridor with ~100,000 vehicles/day traffic.
• Argus Professional Storage Management (ArgusPSM)core platform acquisitionStrategic or Co-development PartnerAcquired in 2025 for $21.1M as part of approximately $335M in total 2025 acquisitions. ArgusPSM was integrated into SmartStop over ~150 days, during which SmartStop rolled out daily and weekly Key Statistics Reports, fully digital monthly financial packages, and phase one of an Owner Portal providing real-time operational and financial data. The combined ArgusPSM platform manages $1B+ in assets under management across the SmartStop portfolio.
• Orchard Securities, LLCflagship retail distribution partner (reit side)Channel Partner/ Reseller/ DistributorRetail distribution partnership with SmartStop REIT Advisors to expand access to SmartStop's self-storage investment programs across the US and Canada. Orchard's distribution network is leveraged to deliver institutional-quality self-storage assets to individual investors.
• Price Caspino, LPspecialized legal counselOthersSecured an emergency legal order on behalf of SmartStop in Orange County Superior Court to prevent a former employee from using confidential company data, including revenue data and proprietary platforms, following an alleged misappropriation of trade secrets.
• StorageTreasures.comoperational integration for us auctionsTechnology or IntegrationHosts SmartStop's online self-storage auctions in the U.S. Defaulted-unit contents are auctioned online through this marketplace.
• selfstorageauction.com / iBid4Storage.comoperational integration for canadian auctionsTechnology or IntegrationHosts SmartStop's online self-storage auctions in Canada. The English page points to selfstorageauction.com; the French page points to iBid4Storage.com.
• Google (Google Analytics, Google AdWords)standard vendor integrationTechnology or IntegrationUses Google Analytics on its sites to analyze traffic and improve services, and uses Google AdWords remarketing to advertise on third-party websites (including Google search and the Google Display Network) to previous visitors based on cookies.
• Third-party Live Chat Vendoroperational vendorTechnology or IntegrationProvides live chat on SmartStop's website, collecting and storing customer information (operator names/emails, visitor names/emails, visitor phone numbers, IP addresses) and storing cookies/local storage strictly for SmartStop's use.
• Kevin Hern (U.S. Congressman, OK-1)external public-figure stakeholderOthersU.S. Congressman Kevin Hern (Oklahoma's 1st congressional district) made significant sales of SmartStop Self Storage stock through his family trusts in March 2026 (alongside sales of Accenture and Texas Instruments). Disclosure is from STOCK Act filings.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Public Storage: Largest publicly traded self-storage REIT (NYSE: PSA) operating thousands of facilities across the U.S. and Europe. Direct competitor to SmartStop in the self-storage REIT category with similar unit-rental revenue model and overlapping U.S. geography.
• Extra Space Storage: Major publicly traded self-storage REIT (NYSE: EXR) operating over 3,500 stores across the U.S. and post-Life Storage acquisition. Direct competitor with same owned-property plus third-party management model that mirrors SmartStop's ArgusPSM platform.
• CubeSmart: Public self-storage REIT (NYSE: CUBE) operating more than 1,300 facilities across the U.S. Closely comparable business model and tenant base to SmartStop, with overlapping metropolitan markets and similar mix of climate-controlled and standard units.
• National Storage Affiliates Trust: Public self-storage REIT (NYSE: NSA) with a differentiated participating regional operator (PRO) structure that aggregates smaller operators. Comparable to SmartStop's owned-and-managed platform and competes for the same acquisition targets and tenants.
• Strategic Storage Trust VI: Non-traded REIT sponsor that partners with SmartStop and SmartCentres on Canadian Class A self-storage developments (Toronto, Edmonton, Montréal). Direct comparable in structure and asset class, with overlapping geographic footprint and customer base.
• StorageMart: Large privately held self-storage operator with hundreds of facilities across the U.S., Canada, and the U.K. Directly competes with SmartStop in the same unit sizes, customer segments, and geographic markets under the same owned-property model.
• Metro Storage: Private self-storage operator with a multi-state U.S. footprint. Directly comparable to SmartStop on asset type, customer profile, and geographic overlap, with similar climate-controlled and vehicle storage offerings.
• Devon Self Storage: Privately held self-storage REIT operator with a national U.S. portfolio. Direct comparable in asset class, tenant base, and product mix (climate-controlled units, vehicle storage, business storage) versus SmartStop's owned-property footprint.

Broad incumbents

• U-Haul / AMERCO: AMERCO (parent of U-Haul, NYSE: UHAL) operates one of the largest self-storage networks in North America alongside its core truck-rental and moving-supply businesses. Comparable storage asset footprint but with much broader transportation/moving-product portfolio that SmartStop does not operate.

Regional players

• Safestore Holdings: U.K.-listed self-storage REIT (LSE: SAFE) operating across the U.K. and Paris. Direct self-storage REIT comparable in business model and product offering, but geographically distinct from SmartStop's U.S./Canada footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/smart_stop
• Facebookfacebook.com/extraspace
• LinkedInlinkedin.com/company/smartstopselfstorage

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SmartStop Self Storage