Life Storage, Inc. Introduces "Rent Now,” its Next-Generation Rental Platform

Life Storage, Inc., (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today the rollout of "Rent Now,” its fully-digital rental platform. Customers can now "skip the counter” by selecting a storage unit, completing the rental agreement and making their rental payment online. The customer receives their property access code and step-by-step directions to their specific rental unit on a digital map sent to their mobile device.

"Rent Now is Life Storage’s answer to delivering storage needs to our customers on demand. We anticipated there was a growing segment of our customers who prefer to self-serve and complete their rental process online. Rent Now delivers that flexible solution,” commented CEO David Rogers. "Making it easy for our customers to engage with us is a top priority at Life Storage, and we are very excited by Rent Now’s adoption rate.”

Rent Now is fully-integrated with Life Storage’s operating, security and revenue management systems, allowing for real-time and efficient inventory and sales management. "Consumer behavior is changing rapidly. Leveraging technology to transact in ways that are expected by these consumers, while also efficiently selling inventory at our owned and managed properties, is a win for each of our customers, partners and shareholders,” noted COO Ed Killeen.

Following a successful launch in its Buffalo, NY market, Life Storage is expanding the initiative in August to 142 stores in the greater New York City area, Texas (San Antonio, Austin, Dallas-Fort Worth), Florida (Miami, Tampa-St. Petersburg-Clearwater, Jacksonville), Richmond, Virginia and St. Louis, Missouri. Rent Now will be fully-integrated to all Life Storage stores by early 2019.

ABOUT LIFE STORAGE, INC.:

Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities. Located in Buffalo, New York, the Company operates more than 700 storage facilities in 28 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to its 400,000 customers, making it a leader in the industry. For more information, visit https://www.lifestorage.com.

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