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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022. 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 March 31, 2023 and December 31, 2022, 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.

		March 31, 2023								December 31, 2022
		Fair Value				Carrying Value				Fair Value				Carrying Value
Fixed Rate Secured Debt		$	424,500,000			$	442,004,515			$	410,600,000			$	442,672,020

Schedule of Computation of Earnings Per Common Share

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

		For the Three Months Ended  March 31,
		2023				2022
Net income		$	2,032,600			$	3,269,459
Net income attributable to    noncontrolling interests			(340,365	)			(403,822	)
Net income attributable to    SmartStop Self Storage REIT, Inc.			1,692,235				2,865,637
Less: Distributions to preferred       stockholders			(3,082,192	)			(3,082,192	)
Less: Distributions to participating       securities			(92,343	)			(71,368	)
Net loss attributable to    common stockholders - basic:			(1,482,300	)			(287,923	)
Net loss attributable to    common stockholders - diluted:		$	(1,482,300	)		$	(287,923	)
Weighted average common shares        outstanding:
Average number of common shares           outstanding- basic			96,820,723				85,017,745
Average number of common shares           outstanding - diluted			96,820,723				85,017,745
Earnings per common share:
Basic		$	(0.02	)		$	(0.00	)
Diluted		$	(0.02	)		$	(0.00	)

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 Three Months Ended March 31,
		2023				2022
		Equivalent Shares (if converted)				Equivalent Shares (if converted)
Series A Convertible Preferred Stock			18,761,726				18,761,726
Class A and Class A-1 OP Units			12,773,507				10,416,211
Unvested LTIP Units			333,106				304,762
Unvested restricted stock awards			81,554				126,037
			31,949,893				29,608,736

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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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