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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Rental income $ 917,143 $ 690,758 $ 539,554
Total operating revenues 1,038,166 788,565 616,771
Expenses      
Property operations and maintenance 179,760 143,648 122,544
Tenant reinsurance 29,280 22,882 15,729
Real estate taxes 99,710 79,861 70,302
General and administrative 77,201 62,617 52,055
Depreciation and amortization 192,902 147,119 122,925
Total operating expenses 578,853 456,127 383,555
Gain on sale of non-real estate assets 5,550 0 0
Gain on sale of real estate 0 0 302
Income from operations 464,863 332,438 233,518
Other income (expenses)      
Interest expense (109,240) (86,786) (86,015)
Interest income 32 827 19
Gain on sale of investments in joint ventures 1,572 0 0
Equity in income of joint ventures 9,235 5,696 4,838
Net income 366,462 252,175 152,360
Net income attributable to noncontrolling interests in consolidated subsidiary (2) 0 0
Net income attributable to common shareholders/unitholders $ 358,128 $ 249,317 $ 151,571
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 4.25 $ 3.18 $ 2.13
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 4.22 $ 3.17 $ 2.13
Redeemable Preferred Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership $ (4,001) $ (1,494) $ 0
Redeemable Common Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership (4,331) (1,364) (789)
Tenant reinsurance [Member]      
Revenues      
Other operating income 73,805 58,103 44,742
Other operating income [Member]      
Revenues      
Other operating income 47,218 39,704 32,475
Life Storage LP [Member]      
Revenues      
Rental income 917,143 690,758 539,554
Total operating revenues 1,038,166 788,565 616,771
Expenses      
Property operations and maintenance 179,760 143,648 122,544
Tenant reinsurance 29,280 22,882 15,729
Real estate taxes 99,710 79,861 70,302
General and administrative 77,201 62,617 52,055
Depreciation and amortization 192,902 147,119 122,925
Total operating expenses 578,853 456,127 383,555
Gain on sale of non-real estate assets 5,550 0 0
Gain on sale of real estate 0 0 302
Income from operations 464,863 332,438 233,518
Other income (expenses)      
Interest expense (109,240) (86,786) (86,015)
Interest income 32 827 19
Gain on sale of investments in joint ventures 1,572 0 0
Equity in income of joint ventures 9,235 5,696 4,838
Net income 366,462 252,175 152,360
Net income attributable to noncontrolling interests in consolidated subsidiary (2) (0) (0)
Net income attributable to common shareholders/unitholders $ 358,128 $ 249,317 $ 151,571
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 4.25 $ 3.18 $ 2.13
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 4.22 $ 3.17 $ 2.13
Net income attributable to general partner $ 3,665 $ 2,522 $ 1,524
Net income attributable to limited partners 354,463 246,795 150,047
Life Storage LP [Member] | Redeemable Preferred Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership (4,001) (1,494) 0
Life Storage LP [Member] | Redeemable Common Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership (4,331) (1,364) (789)
Life Storage LP [Member] | Tenant reinsurance [Member]      
Revenues      
Other operating income 73,805 58,103 44,742
Life Storage LP [Member] | Other operating income [Member]      
Revenues      
Other operating income $ 47,218 $ 39,704 $ 32,475