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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Estimated Useful Lives used to Depreciate Real Property Assets

Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives
as follows:

Description		Standard Depreciable Life
Land		Not Depreciated
Buildings		30-40 years
Site Improvements		7-10 years

Summary of Fixed Rate Notes Payable

The table below summarizes the carrying amounts and fair values of financial instruments that are not carried at fair value as of December 31, 2022 and 2021. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of our fixed and variable rate debt was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities (categorized within Level 2 of the fair value hierarchy). The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. As of December 31, 2022 and 2021, we believe the carrying amounts of our variable rate debt are reasonably estimated at their notional amounts as there have been minimal changes to the fixed spread portion of interest rates for similar loans observed in the market, and as the variable portion of our interest rates fluctuate with the associated market indices.

		December 31, 2022								December 31, 2021
		Fair Value				Carrying Value				Fair Value				Carrying Value
Fixed Rate Secured Debt		$	410,600,000			$	442,672,020			$	353,600,000			$	340,967,113

Schedule of Computation of Earnings Per Common Share

The computation of earnings per common share is as follows for the periods presented:

	For the Year Ended December 31,
	2022				2021				2020
Net income (loss)	$	21,669,452			$	(19,564,718	)		$	(51,206,803	)
Net (income) loss attributable to    noncontrolling interests		(2,847,572	)			2,663,123				6,901,931
Net income (loss) attributable to    SmartStop Self Storage REIT, Inc.		18,821,880				(16,901,595	)			(44,304,872	)
Less: Distributions to preferred    stockholders		(12,500,000	)			(12,500,000	)			(10,049,522	)
Less: Distributions to participating    securities		(285,796	)			(246,109	)			(135,836	)
Net income (loss) attributable to    common stockholders - basic:		6,036,084				(29,647,704	)			(54,490,230	)
Net income (loss) attributable to    common stockholders - diluted:	$	6,036,084			$	(29,647,704	)		$	(54,490,230	)
Weighted average common shares    outstanding:
Average number of common    shares outstanding- basic		91,939,172				79,438,374				59,616,407
Unvested LTIP Units		—				—				—
Unvested restricted stock awards		117,266				—				—
Average number of common    shares outstanding - diluted		92,056,438				79,438,374				59,616,407
Earnings per common share:
Basic	$	0.07			$	(0.37	)		$	(0.91	)
Diluted	$	0.07			$	(0.37	)		$	(0.91	)

Summary of Antidilutive Shares Excluded from Computation of Earnings per Share

The following table presents the weighted average Series A Convertible Preferred Stock, Class A and Class A-1 OP Units, unvested LTIP Units, and unvested restricted stock awards, that were excluded from the computation of diluted earnings per share above as their effect would have been antidilutive for the respective periods, and was calculated using the two-class, treasury stock or if-converted method, as applicable:

	For the Year Ended December 31,
	2022				2021				2020
	Equivalent Shares (if converted)				Equivalent Shares (if converted)				Equivalent Shares (if converted)
Class A and Class A-1 OP Units		11,667,696				10,097,549				9,095,029
Series A Convertible Preferred Stock		18,761,726				18,761,726				14,917,110
LTIP Units		392,856				179,344				46,449
Restricted Stock Awards		—				105,476				81,290
		30,822,278				29,144,095				24,139,878

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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