1. TN LIEN LAW: Consider for a moment what our success in changing the lien law has meant to your facility. TNSSA's survey indicated that each facility saves an average of $1,200 annually in lien processing fees. Also, the lien process has been simplified and many 'unknowns' of the old law have been clarified.
2. REMOVAL OF NEWSPAPER REQUIREMENTS: The new lien law update, effective July 1, 2020 allows the storage facility owner to advertise any sale of a tenant's personal property in a commercially reasonable manner. The mandate of using newspaper advertising has been removed.
3. UPDATED ADA REQUIREMENTS: Compliance with the updated 2010 standards are required as of March 15, 2012. Facilities are not grandfathered in. There is no statute of limitation to an ADA lawsuit. Compliance requirements include parking lots/curbs, office space, retail areas, public bathrooms and storage units.
4. TN LIMITED LINES LICENSE: Legislation has now been signed into effect that will further protect our facilities that choose to make tenant insurance available to their tenants.
5. TN PARKING SALES TAX: On May 19, 2015, after much research and discussion, the TNSSA Board of Directors concluded that it is in the best interests of TN self-storage facilities to collect parking tax on vehicle storage and remit those funds to the TN Department of Revenue.
6. PROPERTY TAX ASSESSMENT IN HAMILTON COUNTY: It has come to our attention that the Hamilton County Assessors Office has sent out letters requesting that property owners provide extensive detailed financial info in order for upcoming property assessments to be completed. The letter stated that tax code 67-5-1601 mandates that this information be provided.
7. TN SALES TAX: A number of stats have tried recently to enact state and local sales taxes on self storage rents. The Legislative Committee believes we must work proactively to ensure that Tennessee does not follow suit.
8. If you become aware of any issues that you feel TNSSA's Legislative Committee should be prepared to address, please contact us at firstname.lastname@example.org.
Although TNSSA has been quite successful with legislative issues over the past several years, your continued financial support is still needed. Let's not be caught unprepared with the next issues arise. Make your donation today! Please note, donations are not tax deductible.
Or a check may be mailed to TNSSA - Legislative Fund at 2817 West End Ave Suite 126-197, Nasvhille, TN 37203.
The TNSSA Legislative Committee is chaired by Bev Krueger with input and direction from the Board of Directors.
Find out how you can help TNSSA's Legislative Committee monitor pending legislature and be proactive. Contact our leader, Bev Krueger at email@example.com.
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