Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investment in storage facilities:
Land	$ 937,030	$ 884,235
Building, equipment, and construction in progress	4,263,222	3,865,238
Real estate investment property, at cost, total	5,200,252	4,749,473
Less: accumulated depreciation	(842,592)	(756,333)
Investment in storage facilities, net	4,357,660	3,993,140
Cash and cash equivalents	110,247	17,458
Accounts receivable	13,970	12,218
Receivable from unconsolidated joint ventures	3,223	1,302
Investment in unconsolidated joint ventures	143,633	154,984
Prepaid expenses	10,601	7,771
Trade name	16,500	16,500
Other assets	33,221	29,591
Total Assets	4,689,055	4,232,964
Liabilities
Line of credit		65,000
Term notes, net	2,254,783	1,858,271
Accounts payable and accrued liabilities	107,980	103,942
Deferred revenue	16,204	11,699
Mortgages payable	34,352	34,851
Total Liabilities	2,413,319	2,073,763
Noncontrolling redeemable Operating Partnership Units at redemption value	25,848	26,307
Shareholders' Equity/ Partners' Capital
Common stock $.01 par value, 100,000,000 shares authorized, 48,199,008 shares outstanding at September 30, 2020 (46,675,933 at December 31, 2019)	482	467
Additional paid-in capital	2,533,402	2,376,723
Dividends in excess of net income	(278,726)	(238,338)
Accumulated other comprehensive loss	(5,270)	(5,958)
Total Shareholders’ Equity	2,249,888	2,132,894
Noncontrolling interest in consolidated subsidiary	0	0
Total Equity	2,249,888	2,132,894
Total Liabilities and Shareholders' Equity/ Partners' Capital	4,689,055	4,232,964
Life Storage LP [Member]
Investment in storage facilities:
Land	937,030	884,235
Building, equipment, and construction in progress	4,263,222	3,865,238
Real estate investment property, at cost, total	5,200,252	4,749,473
Less: accumulated depreciation	(842,592)	(756,333)
Investment in storage facilities, net	4,357,660	3,993,140
Cash and cash equivalents	110,247	17,458
Accounts receivable	13,970	12,218
Receivable from unconsolidated joint ventures	3,223	1,302
Investment in unconsolidated joint ventures	143,633	154,984
Prepaid expenses	10,601	7,771
Trade name	16,500	16,500
Other assets	33,221	29,591
Total Assets	4,689,055	4,232,964
Liabilities
Line of credit		65,000
Term notes, net	2,254,783	1,858,271
Accounts payable and accrued liabilities	107,980	103,942
Deferred revenue	16,204	11,699
Mortgages payable	34,352	34,851
Total Liabilities	2,413,319	2,073,763
Limited partners’ redeemable capital interest at redemption value (243,966 and 246,466units outstanding at September 30, 2020 and December 31, 2019, respectively)	25,848	26,307
Shareholders' Equity/ Partners' Capital
General partner (484,429 and 469,225 units outstanding at September 30, 2020 and December 31, 2019, respectively)	22,759	21,594
Limited partners (47,714,579 and 46,206,708 units outstanding at September 30, 2020and December 31, 2019, respectively)	2,232,399	2,117,258
Accumulated other comprehensive loss	(5,270)	(5,958)
Total Controlling Partners’ Capital	2,249,888	2,132,894
Noncontrolling interest in consolidated subsidiary	0	0
Total Partners' Capital	2,249,888	2,132,894
Total Liabilities and Shareholders' Equity/ Partners' Capital	$ 4,689,055	$ 4,232,964