Rental Industry News Today

“Be Prepared” is Timeless Advice

As spring rolls on into summer, outdoor activities like camping and hiking become popular pursuits.

Whether you’re planning a one hour walk in the woods or a month long primitive camping trip into the remote regions of a National Park or Forest, it is best to keep in mind the unexpected can occur.

For example, it might be wise to rent a personal locator beacon from providers like Outdoor Equipment Unlimited so you can be found if you become lost.

If your explorations are taking you into an area where bears can be encountered, it is not only smart to bring along a can of bear repellent spray, it might just save your life. There is a good reason why professional outfitters like Lower Gear carry bear spray, and even rent it to outdoor enthusiasts.

Better Protection than a Gun

Not only is bear spray more effective than a firearm for protection from bears, it is inexpensive assurance you or your companions won’t be seriously injured or killed.

As a matter of fact, if you reside in an area where bears are known to frequent, it is a good idea to have a can or two of bear repellent on hand in your home where it can be readily located.

You Might Not Be Safe at Home

According to a May 14, 2013 story covered by ABC News, a man’s dog was killed by a bear which then broke into his home and nearly sent him to the great beyond:

Joe Azougar was sitting on the front porch of his cabin this weekend with his new German Shepard puppy Ace when he “started to hear a vibration or thunder and I turned around to see a bear.”

The next few minutes were pure mayhem and panic in which the bear killed the dog and then came back for Azougar, smashing through a cabin window to get at him and mauling him so bad that Azougar said he could feel the bear’s teeth on his exposed skull.

Azougar, 30, spoke to ABC News from his bed in Lady Minto Hospital in Cochrane, Ontario, where doctors needed 300 stitches to patch up his scalp, shoulder and back.

When the bear showed up,  “The first thing that the dog did was…continue reading here.

photo: state.nj.us

Photo courtesy of The Lost Adventure

Before the full-time job, the family, and Ford Focus, you were a badass: leather jacket, tattooed forearms, and a vintage Harley Davidson Ironhead. OK, so maybe you didn’t have any of those things but back then you often dreamed about what your life would be like if you did. As you grew older, the dream grew more distant. The good news is that neither you nor the dream is dead. Believe it or not, you still have a chance to be a badass – to ride across the country with a leather jacket on your back and a hog between your legs. You might want to think twice about that tattoo though.

Most Fun You Will Have on a Hog

The Lost Adventure is a motorcycle company and official EagleRider Tour Operator offering a full line of guided and self-guided tours and bike rentals. The company specializes in tours of America and collectively possesses over 20 years of experience running tours. The relationship with EagleRider, the World’s #1 Motorcycle Tourism Company, gives The Lost Adventure partners in over 70 locations in the United States and access to more than 2,000 motorcycles including bikes from Harley Davidson, BMW, Honda, and Triumph.

Choose Your Adventure

Rates for a coast-to-coast tour vary based on which motorcycle and pick-up and drop-off location a customer chooses. Rates for a Triumph start at just over $2,700; $3,380 for a Harley Davidson; and about $4,000 for a BMW or Honda Goldwing. From the east coast, you can take a southern route and travel along the Gulf of Mexico and across Texas or go north and ride through the Badlands in South Dakota and experience the beauty of Yellowstone National Park. If you’re heading east, you can start with a ride down the Pacific Coast before making your way cross country to Boston, New York, or Washington D.C. The professionals at The Lost Adventure can give you expert advice on your ride and will make sure you have everything you need before setting out.

For more information, call 1-855-854-LOST (5678).

Self Storage Rental Giant Continues Impressive Performance

According to a new release dated April 29, 2013 from PRNewswire, Extra Space Storage, Inc. reported favorable first quarter results for the period ending March 31, 2013.

Extra Space Storage Inc., based in Salt Lake City, Utah, is a fully integrated, self-administered and self-managed real estate investment trust that owns and/or operates 900 self-storage properties in 38 states and Washington, D.C.

The Company’s properties comprise approximately 550,000 units and over 59 million sq. feet of space for rent, offering customers a wide selection of conveniently located and secure storage solutions across the country. Boat storage, RV storage and business storage complement personal storage units offered by the company.

Extra Space is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States. Only Public Storage is a larger owner/operator enterprise.

Getting Off To A Good Start in 2013

Highlights for the three months ended March 31, 2013:

• Achieved funds from operations (“FFO”) of $0.46 per diluted share, representing a 39.4% increase in FFO compared to the first quarter of 2012.
• Increased same-store revenue and net operating income (“NOI”) by 7.5% and 10.8%, respectively, compared to the same period in 2012.
• Increased same-store occupancy by 290 basis points to 88.6% at March 31, 2013, compared to 85.7% as of March 31, 2012.
• Acquired two properties and added 55 properties to the Company’s third-party management platform.
• Paid a quarterly dividend of $0.25 per share.

Spencer F. Kirk, CEO of Extra Space Storage Inc., commented:  “We experienced another strong quarter.  Solid operational performance and record high occupancies have once again helped produce outstanding financial results.  Disciplined growth continues to enhance our results as we have benefited from recent acquisitions and the growth of our third-party management platform.  We are optimistic and have confidence in our people, our technology and our properties as we enter peak rental season.”

The following table outlines the company’s……continue reading here.

photo: extraspace.com

We’re all too familiar with what we pay each month for cell phone service. Frankly, the number is nauseating. In fact, J.D. Power & Associates reports that the average individual cell phone bill is $71 per month, up 31% since 2009. Fortunately, the folks at Republic Wireless have launched a new service to help settle your stomach.

Harnessing the Power of Wi-FI

For as little as $19 per month, customers can receive unlimited voice, data, and text on an Android smartphone without having to sign a long-term wireless contract. The phone – the Motorola Defy X – works by harnessing the power of Wi-Fi enabling customers to talk, text, share, and surf on their phones anywhere they can pick up a signal. If a user doesn’t have access to Wi-Fi, calls are handled via Sprint’s nationwide 3G network using Republic’s Hybrid Calling technology.

The Motorola Defy X, while not the most stylish or sophisticated device on the market, is a fully capable Android handset and features a 3.7-inch display, a 5-megapixel camera, and VGA webcam. The phone is priced at $259 and must be purchased to activate an account. Republic does, however, offer a second pricing plan that drops the price of the phone to $99 while upping the monthly bill to $29. Regardless of which plan they choose, Republic customers are free to walk away after 30 days.

Numbers Don’t Lie

The service does have some limitations – no international calls over cellular, no MMS, only one device option, and dropped calls during the “handoff” from Wi-Fi to cell network – but could be the perfect solution for families looking to balance their household budgets. According to Republic, a family of three paying $80 per line on a national carrier with a two-year contract can save nearly $4,000 over two years on the company’s $19 service plan. Good luck finding that kind of coin in your couch cushions.

Based in Raleigh, North Carolina, Republic is owned by Bandwidth.com, whose Internet voice technology is used by Google Voice, Skype, and Pinger. The absence of physical retail sales helps keep Republic’s costs down and all of the company’s sales and technical support are handled online. To sign up for service, visit www.republicwireless.com.

Over the course of a kid’s childhood, the average parent will likely spend thousands of dollars on new toys for their little ones. In fact, in 2011, over $21 billion dollars was spent in the United States alone on traditional toys such as dolls, games, and building sets. The problem is that children outgrow their toys just as they outgrow their clothes. As more families become economically savvy (and eco-conscious), the issue becomes a bit more complex. How can parents provide their kids with “new” toys on a tighter budget? Enter BabyPlays.com.

Pulled from the Scrap Heap

Launched in 2007, BabyPlays.com had gone out of business before being resurrected by Stephanie Weber, a former web operations manager for The Gazette in Colorado Springs. After purchasing the domain name and some of the original company’s remaining merchandise, Weber relaunched Baby Plays with a local emphasis. After the New York Times picked up the company’s story, sales tripled over the prior year. Baby Plays now ships rental toys across the U.S.

Good, Clean Fun

Baby Plays offers a single toy for $2.99 to $10.99 plus shipping. Customers also have the option of purchasing a membership. For $19.99, customers receive four toys every other month. If a customer would prefer to receive four toys each month, the monthly fee is $32.99. For parents concerned about the cleanliness of each toy, Baby Plays has developed a three-step process to ensure each toy is completely clean and sanitized. The company starts by using a non-toxic plant cleaning agent to wash each toy before sanitizing it with an EPA-approved product used in hospitals. The toys are then shrink-wrapped individually and boxed for shipment.

The company also allows customers to rent toys for vacations and also offers a rent-to-own program which can save customers up to 50% off the retail cost of a new toy. The company also replaces any toy that arrives damaged or is broken during the rental period at no charge.

For more information on Baby Plays or to rent a toy for your child, visit www.babyplays.com.

Looking to go into business together on their own, David and Stu Pikoff decided they wanted to do something fun. Inspired by video arcades and attracted to the kids’ entertainment market, the two launched Games2U, a mobile entertainment provider.

Playhouse for Pee-Wees

Housed inside each of the company’s 32-foot trailers are six 50-inch high definition televisions and connected game consoles. Four of the televisions inside each “theater” support both Xbox 360 and PlayStation 3 while two televisions mounted on the outside of the trailer are connected to Nintendo Wii consoles. Up to 16 users can be seated inside the theater, equipped with cushioned seats and central air conditioning, and can play the same game together.

But wait, there’s more. Games2U also offers laser tag, using inflatable bunkers and programmable guns. The bunkers can be inflated in as little as two minutes, come in several shapes and sizes, and can be set up anywhere to create an instant laser tag course. The guns are connected to electronic nodes that are Velco-attached to a player’s headband. When the node on the headband is hit, the player loses a life. Once the final life is expended, the gun emits a sound effect and the player is out of the game. Unlike traditional laser tag courses, the guns used by Games2U have a longer range – up to 300 feet – and work in broad daylight.

But wait, there’s more. Games2U also offers 4D theaters, foam machines, giant hamster balls, an AV cart, a gyroscope, and the U:bot, a seven-foot tall mobile robot controlled by partygoers who climb inside.

Games2U charges $199 to rent a mobile unit for one hour, $299 for two hours, and $99 for every additional hour. The company has been featured in Inc. Magazine, on Rachel Ray, in the Wall Street Journal, and was named a “Top Franchise” in 2012 by Entrepreneur Magazine.

For more information on Games2U, visit www.g2u.com.

Self Storage Company Recognized for Social Media Innovation

The Shorty Awards are a worldwide effort to engage all Twitter users to identify the most influential people and organizations in the realm of social media. The voting for the various categories up for a Shorty Award will culminate in a blockbuster award ceremony in New York City on Monday, April 8, 2013.

Extra Space Storage has received a Best Use of Social Media In Real Life Nomination for their work with the Blissdom 2012 convention.

BlissDom is a popular conference for women who find their bliss through online publishing. Speakers and panels feature the best blogging, public relations and social media pros congregating to engage and mentor new and old friends.

BlissDom has gained a large following due to its combination of incredible content, events, networking and surprises. The conference is a weekend mix of synergy and opportunity, and is attended by over 1000 participants.

Extra Space Storage was nominated for their involvement in Blissdom and the manner in which that involvement was leveraged in social media.

Participants Happy to be Sent Packing

At the Extra Space Lounge exhibit, a team of Extra Space Storage representatives provided 150 attendees with free boxes to ship home up to 15 pounds of product samples, literature and gift bags they had collected at the conference.

The souvenirs were packed with care by the Extra Space Storage crew and then shipped to the bloggers’ homes free of charge. While at the Lounge, attendees could rest up and relax while learning about how they could join the Extra Space Storage Blogger Program.

By sparing the Blissdom attendees the hassle of lugging their acquired educational and promotional materials home, Extra Space created a lot of good feedback in the form of social media posts, especially on Twitter, Facebook and Pinterest.

Roll The Credits, Please

Special recognition is due those Extra Space representatives who participated in Blissdom 2013 and helped generate such positive feedback from the attendees.

Whether or not Extra Space garners a prestigious Shorty Award, their efforts continue to create goodwill for the self storage company. 

Extra Space was represented by Jessica Johnson, Director of Marketing; Frank Emanuele Account Manager; Charlie Balk, Community Manager; and Samy Simorangkir, Graphic Designer. Well done!

Fashion Dress Rental Firm Continues to Grow

Rental success story Rent The Runway (www.RenttheRunway.com), a purveyor of women’s fashion rentals, has received another round of funding to expand its business, according to a March 11, 2013 press release.

Company co-founder and chief executive officer Jennifer Hyman (@Jenn_RTR), pictured above, speculated the company may go public with an IPO sometime in the near future.

Rental a Growing Trend

The burst of the housing bubble in 2007 and resulting economic recession has made renting of many items a popular option. Consumers faced with needs which can be met by renting versus purchase are opting more and more to rent.

This trend has benefited Rent the Runway, as well as many rental industries, especially businesses involved in medical supplies and construction equipment.

Even traditional rental businesses like Avis car rental are branching into other rental markets.

Additional Capital Expands Options

Look for RTR to add additional physical showrooms where customers can actually try on the dresses before deciding to rent them. Currently the firm has but one brick and mortar location which offers this option.

Don’t be surprised if the company also branches into additional rental categories.

When and if Rent the Runway goes public, individual investors would then be able to buy a stake in the company even if they can’t actually buy an outfit from them:

Rent the Runway, the leading online destination for designer dress and accessory rentals, today announced the expansion of its Series C round of funding, bringing the total Series C amount raised to $24.4 million. 

The initial round was led by Advance Publications, Inc., parent company of Conde Nast and includes American Express and Novel TMT Ventures, as well as all of Rent the Runway’s existing investors, including Bain Capital Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers.
 
“The addition of American Express and Novel TMT Ventures is an affirmation of our mission and strategy.  Both brands embody aspiration and through these partnerships, we look forward to continuing to make luxury accessible to women everywhere,” said Jennifer Hyman , CEO and co-founder of Rent the Runway.
The funding will be used to…continue reading here.

image: http://span.state.gov

Sticky Fingers and Renting Self Storage Do Not Mix.

Renting a self storage unit to stash your ill gotten gain is generally not a great idea. First, it’s a public place. Second, most self storage businesses have security cameras which record all activity which occurs on the premises. Third, your name, address, and billing information are linked to the storage unit.

This methodology is certainly not risk averse.

Sure, you can fake your name and address if the self storage proprietor is easily duped. The billing info is a bit harder to falsify and if you pay in cash, it’s a red flag. Let’s just say if you decide to go ahead and attempt to store stolen or otherwise tainted property in a self storage unit, you’re really not breaking any new ground in the realm of criminal activity.

Most reputable self storage facilities want nothing to do with criminal activity, or criminals for that matter.

Just Sell a Sliver to Pay My Lawyer

According to a story published in the Omaha World-Herald on February 26, 2013, a man with seven previous convictions for shoplifting has been arrested once more and charged with, imagine this, shoplifting.

The way this upstanding citizen led authorities to his stash is what has prompted this post. Note to self: loose lips sink ships:

An Omaha man is accused of being a serial shoplifter who stole so much stuff he had to rent a storage unit to stash it all.

From vacuum cleaners to computers to cosmetics, Anthony Q. Perkins stole goods worth thousands of dollars, police say.

According to a search warrant, his targets included Shopko at 3020 S. 84th St., where, on Jan. 30, he took two Dyson vacuum cleaners valued at $650 each, ran out an emergency exit and sped away in a white Buick.

Perkins is charged with four counts of felony shoplifting. He was being held without bail Monday at the Douglas County Jail.

Authorities said Perkins also shoplifted items from a Council Bluffs Shopko and faces charges in Pottawattamie County. He is a suspect in other shoplifting cases throughout the metro area.

Perkins has been convicted of shoplifting at least seven times, according to Nebraska court records. He has served anywhere from 60 days to two years in jail for those crimes.

Shortly after Perkins’ arrest this month in Douglas County, a police officer listened to …continue here.

image: charleston-sc.gov

Dramatic Improvement Over 2011 Results

On February 25th, 2013, Hertz Equipment Rental (HERC) reported 2012 fourth quarter revenues of $385 million, representing an increase of over 20% compared to the same period in 2011.

Hertz reported profits of over $51 million on the fourth quarter volume, and said this represented an increase of nearly 14 per cent over the same period in 2011.

The same report stated HERC for the year 2012 booked pre-tax profits in excess of $152 million on revenues of $1.3 billion.

HERC said the figures reflected increased volume and pricing for their equipment rental business in 2012. The company also cited lower costs as a factor, as well as a general beginning of recovery in the construction industry as a whole which spurred increased construction equipment rental activity

Acquisitions Have Positive Effect

Hertz also said it benefited from a tuck-in acquisition strategy by adding Cinelease, Pioneer & Arpielle to its equipment rental business portfolio during 2012.

The equipment rental division also targeted new geographic and end-user markets in 2012, including oil & gas, entertainment services, and pump & power segments.

HERC accounts for most of its equipment rental revenues from  operations in North America. The company also has equipment rental operations in Europe, China, and Saudi Arabia.

HERC invested $763 million gross in its fleet in 2012. The average age of its equipment is now 43 months compared to 48 months in the final quarter of 2011.

Hertz Corporation CEO Mark Frissora said 2013 was off to a good start and that he expected the equipment rental division of the company “to maintain their strong growth throughout 2013.”

A division of Hertz Global Holdings, Inc. (NYSE: HTZ), Hertz Equipment Rental is one of the leading providers of the rental and sale of heavy equipment and tools for construction and industrial needs. For more information, please visit their web site at www.hertzequip.com.

Does Father Always Know Best ??

Nationally syndicated financial advisor Dave Ramsey recently fielded a call from a listener whose father was leaning on her to purchase a home based on her income level. For many individuals buying a house is a prudent and wise strategy. For others it is not. Sometimes renting your residence is the best option when the big picture is considered:

QUESTION: Rachel in Chicago says her father is constantly pressuring her to buy a house or a condo. He says she’s making too much money to not be doing anything with it. Rachel is getting out of debt and isn’t ready to buy a home. Dave tells Rachel her father has boundary issues.

ANSWER: You are doing something with your money. You’re getting out of debt. You’re 27. You make $135,000 a year. This is just not a conversation you can have with your father because he doesn’t understand. “Dad, we’ll have to find something else to talk about. I’m no longer under your control. I’m 27.”

The answer is, “Dad, we can’t talk about this because you’re wrong.” Your father has boundary issues. He also interferes in other parts of your life, doesn’t he? Not anymore—he’s finally figured out that you’re a grown woman and that you make your own decisions.

I have decided as a father of 26- and 24-year-old married young women who are very accomplished that it may be the most difficult stage of fatherhood to watch your children. My children aren’t really doing anything particularly dumb, but I’m no longer in charge. It’s just hard for dads to not be in charge anymore, and somehow he’s going to have to get the message he’s no longer ….continue reading here.

image: sco.ca.gov

A February 2, 2013 story from The Next Web reported popular lodging rental service Airbnb was facing scrutiny by authorities in the Netherlands which could result in the service being shut down in that country. Many tourists and travelers depend on the site to book vacation rentals and short term accommodations. The site was recently the focus of controversy in the United States.

Two days later The Next Web issue an update on the same web page as the original story citing a statement released by Airbnb which claimed the story was unfounded:

Following legal issues across the US, Airbnb is facing serious conflicts with the local government in Amsterdam, The Netherlands.

Airbnb’s issues in Amsterdam have been ongoing; in fact, an investigation into the service was ordered by authorities back in November, led by Alderman Freek Ossel. So far, 200 “suspicious” homes have already been researched, and Dutch newspaper Parool reports that “if something was wrong while tourists were staying in the homes, [authorities] closed the houses and tourists were stranded on the streets of Amsterdam” [translation:TNW].

Now, things appear to be escalating quickly: reports are surfacing that next week a team of civil servants will go out on the streets to look for illegal hotel activities. Government representative Eikelboom has reportedly stated that “it’s not unlikely that teams will check whole streets simultaneously.”

These government workers will apparently be looking into “fire safety,” but also illegal rental of rooms to tourists. Parool goes on to state that “there are approximately 2,000 properties in Amsterdam that run illegal ‘hotel like’ businesses.” Clearly, this means trouble for users of both Airbnb and Rocket Internet clone Wimdu. Airbnb currently counts 4191 listings for Amsterdam, making it one of its most popular cities in Europe.

Aside from safety concerns, the local government is fighting back because most hosts don’t pay taxes on their income from ‘illegally renting.’ The government believes Airbnb doesn’t comply with…continue reading here.

image: nps.gov

Company Will Initially Offer Office 2013 For Rent

Rental is a growing industry. Fashion dress company Rent The Runway has seen impressive growth in the last year and Netflix recently posted rebounding earnings in its recent financial reports. You may have also caught the recent headlines divulging a significant portion of foreclosed single family housing stock is being purchased and converted to rental housing.

Rental Space Sells Out In Record Time

Still not convinced? Try this: The American Rental Association, which primarily serves the construction equipment rental and event rental industries, disclosed it had sold out exhibitor space for its 2013 convention in record time.

Software giant Microsoft has apparently taken notice and announced it too will get into the rental market. A January 29, 2013 story on the NBC news web site delves into Microsoft’s foray into software rental:

Considering that we can have music, movies, TV shows, Photoshop — even underwear — via some sort of monthly or yearly subscription, it’s about time we can finally rent Microsoft Office 365, too.

In exchange for $100 per year (or $10 per month), you’ll be able to install Office 2013 on up to five PCs, Macs or Windows tablets. You’ll have access to Word, Excel, PowerPoint, OneNote, Outlook, Publisher and Access. Additionally, you’ll get an extra 20GB of cloud storage through SkyDrive (on top of the 7GB you already get for free) along with 60 minutes of Skype world calling per month.

You can still buy Office 2013 the old-school way, though don’t expect to see any physical media in the software box; you’ll just buy a product code and be sent online to download the actual software. The Home & Student version of that is $140 and is limited to one device (and just Word, Excel, PowerPoint and OneNote); Home & Business is $220 (which includes Outlook as well), and Pro — with all of the same apps offered in the subscription — is $400.

Besides being able to install on up to five devices, there are other benefits to the subscription plan:  continue reading here.

Hurricane Sandy helped many affected consumers along the east coast appreciate the value of the rental industry. The need for rentals in response to the disaster was enormous, especially in the construction equipment and pump categories.

Now that a significant portion of the recovery is underway, many of the residential rental properties which were affected will be able to be more readily occupied with help from the Federal Emergency Management Agency (FEMA).

According to a news release from FEMA dated January 24, 2013:

Hurricane Sandy survivors may now be able to use temporary rental assistance funds to help pay for a security deposit, the Federal Emergency Management Agency reported today.

Survivors may use up to one month of FEMA rent money to cover required security deposits. Those who need more help with rent can show a security deposit receipt to support a request for additional assistance. Survivors must also show a continuing need. This money may not be used to pay for telephone or television service or utilities. For more information, contact FEMA’s toll-free Helpline at 800-621-3362.

Survivors can register online anytime day or night at www.DisasterAssistance.gov, or with a smartphone or other Web-enabled device at m.fema.gov. Survivors can also register, check status of applications or receive other assistance at the FEMA Helpline, 800-621-3362, from 7 a.m. to 1 a.m. Eastern, seven days a week, until further notice. The TTY number is 800-462-7585. Multilingual operators are available during the same hours at the close of the English message.

Registering for disaster assistance with other agencies or organizations does not register survivors for FEMA disaster assistance. Having FEMA flood insurance does not register policyholders for disaster assistance, nor does it disqualify anyone from applying for assistance. Flood insurance claims are handled separately.

Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-3362. For TTY, call 800-462-7585.

The U.S. Small Business Administration is the federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps homeowners, renters, businesses of all sizes, and private, nonprofit organizations fund repairs or rebuilding efforts and covers the cost of replacing lost or disaster-damaged personal property. These disaster loans cover losses not fully compensated by insurance or other recoveries and do not duplicate benefits of other agencies or organizations.

FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.

Photo: fema.gov