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SEGMENT INFORMATION - Schedule of Financial Information of Business Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Revenues $ 858,460 $ 824,804 $ 2,520,075 $ 2,435,006
Net operating income        
Net operating income 279,120 302,739 1,041,820 943,328
Other components of net income:        
Management fees and other income 32,538 29,882 95,485 89,888
General and administrative expense (43,479) (39,750) (134,405) (123,373)
Depreciation and amortization expense (177,466) (195,046) (535,088) (586,821)
Loss on real estate assets held for sale and sold, net (105,128) (8,961) (70,231) (63,620)
Interest expense (149,650) (142,855) (438,177) (412,875)
Non-cash interest expense related to amortization of discount on unsecured senior notes, net (12,086) (11,005) (35,169) (32,563)
Interest income 43,588 34,947 124,553 89,746
Equity in earnings and dividend income from unconsolidated real estate entities 15,669 16,246 51,884 48,508
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and sale of a joint venture interest 9,354 13,730 9,354 13,730
Impairment of Life Storage trade name 0 (51,763) 0 (51,763)
Income tax expense (11,962) (10,857) (32,591) (27,443)
Net income 174,033 202,945 721,674 622,431
Operating Segments        
Revenues        
Revenues 825,922 794,922 2,424,590 2,345,118
Operating expenses        
Total segment operating expenses 253,267 226,545 738,531 666,101
Net operating income        
Net operating income 572,655 568,377 1,686,059 1,679,017
Operating Segments | Self-Storage Operations        
Revenues        
Revenues 735,581 710,874 2,160,965 2,096,018
Operating expenses        
Payroll and benefits 46,386 41,393 135,285 127,074
Marketing 19,604 14,816 53,651 49,204
Office expense 36,574 30,868 107,718 89,208
Property operating expense 21,122 19,543 59,877 55,958
Repairs and maintenance 15,150 13,176 45,689 41,411
Property taxes 82,499 76,996 244,742 211,310
Insurance 9,879 8,241 27,076 24,551
Other segment items 4,272 4,002 12,651 11,739
Total segment operating expenses 235,486 209,035 686,689 610,455
Net operating income        
Net operating income 500,095 501,839 1,474,276 1,485,563
Operating Segments | Tenant Reinsurance        
Revenues        
Revenues 90,341 84,048 263,625 249,100
Operating expenses        
Other segment items 17,781 17,510 51,842 55,646
Net operating income        
Net operating income $ 72,560 $ 66,538 $ 211,783 $ 193,454