SmartStop cuts new-tenant rates 7-9% in April as occupancy slips year-over-year

Filed May 12, 2026 · Period ending May 12, 2026 · ~1 min read

Key Changes

• high

  Web rates (advertised pricing) fell 9% year-over-year to $1.03 in April 2026 vs. $1.13 in April 2025, signaling aggressive discounting to attract new customers in a softer demand environment.

  Item 7.01 verify on EDGAR →
• high

  Actual move-in rates dropped 7% to $0.92 in April 2026 from $0.99 a year earlier, directly pressuring near-term revenue per occupied square foot as the company accepts lower rents to fill units.

  Item 7.01 verify on EDGAR →
• medium

  Same-store physical occupancy declined to 92.6% in April 2026 from 93.0% in April 2025, though it improved sequentially from 92.3% in March, indicating modest seasonal recovery but persistent year-over-year weakness.

  Item 7.01 verify on EDGAR →