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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues    
Rental income $ 240,483 $ 205,509
Total operating revenues 273,602 233,490
Expenses    
Property operations and maintenance 47,306 42,368
Tenant reinsurance 9,220 6,847
Real estate taxes 27,437 24,523
General and administrative 27,818 15,826
Depreciation and amortization 47,769 46,401
Total operating expenses 159,550 135,965
Gain on sale of non-real estate assets 686 0
Income from operations 114,738 97,525
Other income (expenses)    
Interest expense (33,113) (24,240)
Interest and dividend income 12 15
Equity in income of joint ventures 1,629 2,118
Net income 83,266 75,418
Net loss attributable to noncontrolling interests in consolidated subsidiary 5 0
Net income attributable to common shareholders $ 81,608 $ 73,575
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.96 $ 0.88
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.96 $ 0.88
Common shares/units used in basic earnings per share/unit calculation 84,935,860 83,644,426
Common shares/units used in diluted earnings per share/unit calculation 85,378,412 83,837,773
Dividends/distributions declared per common share/unit $ 1.20 $ 1.00
Tenant reinsurance [Member]    
Revenues    
Other operating income $ 20,291 $ 17,267
Other operating income [Member]    
Revenues    
Other operating income 12,828 10,714
Redeemable Preferred Stock [Member]    
Other income (expenses)    
Net income attributable to noncontrolling interest in the Operating Partnership (330) (996)
Redeemable Common Stock [Member]    
Other income (expenses)    
Net income attributable to noncontrolling interest in the Operating Partnership (1,333) (847)
Life Storage LP [Member]    
Revenues    
Rental income 240,483 205,509
Total operating revenues 273,602 233,490
Expenses    
Property operations and maintenance 47,306 42,368
Tenant reinsurance 9,220 6,847
Real estate taxes 27,437 24,523
General and administrative 27,818 15,826
Depreciation and amortization 47,769 46,401
Total operating expenses 159,550 135,965
Gain on sale of non-real estate assets 686 0
Income from operations 114,738 97,525
Other income (expenses)    
Interest expense (33,113) (24,240)
Interest and dividend income 12 15
Equity in income of joint ventures 1,629 2,118
Net income 83,266 75,418
Net loss attributable to noncontrolling interests in consolidated subsidiary 5 0
Net income attributable to common shareholders $ 81,608 $ 73,575
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.96 $ 0.88
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.96 $ 0.88
Common shares/units used in basic earnings per share/unit calculation 84,935,860 83,644,426
Common shares/units used in diluted earnings per share/unit calculation 85,378,412 83,837,773
Dividends/distributions declared per common share/unit $ 1.20 $ 1.00
Net income attributable to general partner $ 833 $ 754
Net income attributable to limited partners 80,775 72,821
Life Storage LP [Member] | Tenant reinsurance [Member]    
Revenues    
Other operating income 20,291 17,267
Life Storage LP [Member] | Other operating income [Member]    
Revenues    
Other operating income 12,828 10,714
Life Storage LP [Member] | Redeemable Preferred Stock [Member]    
Other income (expenses)    
Net income attributable to noncontrolling interest in the Operating Partnership (330) (996)
Life Storage LP [Member] | Redeemable Common Stock [Member]    
Other income (expenses)    
Net income attributable to noncontrolling interest in the Operating Partnership $ (1,333) $ (847)