The self-storage industry has experienced remarkable growth over the past two decades. Once viewed as a relatively straightforward real estate investment, self-storage facilities have evolved into sophisticated businesses that regularly confront complex legal, operational, contractual, and regulatory issues.
Update on Minnesota’s Self-Storage Act: Navigating Recent Changes and Best Practices for Facility Owners
In a previous blog, we explored the fundamental aspects of the Minnesota Liens on Personal Property in Self-Service Storage Act, Minnesota Statute Sections 514.970 to 514.979 (the “Self-Storage Act”), focusing on its powerful lien and foreclosure processes available to storage facility owners. Since the significant 2021 amendments, we have continued...