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Related Party Transactions (Tables) | 12 Months Ended
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Dec. 31, 2023
Related Party Transaction [Line Items] |
Summary of Related Party Costs | Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the years ended December 31, 2023 and 2022, as well as any related amounts payable as of December 31, 2023 and 2022.
|  | Year Ended December 31, 2022 |  |  | Year Ended December 31, 2023 |
|  | Incurred |  |  | Paid |  |  | Payable |  |  | Incurred |  |  | Paid |  |  | Payable |
Expensed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transfer Agent fees |  | $ | 1,242,655 |  |  | $ | 1,260,896 |  |  | $ | 68,751 |  |  | $ | 1,479,254 |  |  | $ | 1,473,005 |  |  | $ | 75,000 |
Additional paid-in capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transfer Agent expenses |  |  | 100,000 |  |  |  | 100,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Stockholder servicing fee(1) |  |  | 53,660 |  |  |  | 209,980 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  |  | — |  |  |  | — |  |  |  | 340,979 |  |  |  | — |  |  |  | — |  |  |  | 340,980 |
Total |  | $ | 1,396,315 |  |  | $ | 1,570,876 |  |  | $ | 409,730 |  |  | $ | 1,479,254 |  |  | $ | 1,473,005 |  |  | $ | 415,980 |
(1) We paid our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. The amount incurred during the year ended December 31, 2022 represents an adjustment to the estimated stockholder servicing fee recorded at the time of the sale of the Class T Shares, based on the cessation date of such stockholder servicing fee of March 31, 2022.
Summary of Related Party Fees and Reimbursable Costs | Pursuant to the terms of the various agreements described above for the Managed REITs, the following summarizes the related party fees for the years ended December 31, 2023, 2022, and 2021:
Managed REIT Platform Revenues |  | Year Ended December 31, 2023 |  |  | Year Ended December 31, 2022 |  |  | Year Ended December 31, 2021 |
Asset Management Fees: |  |  |  |  |  |  |  |  |
SST IV(1) |  | $ | — |  |  | $ | — |  |  | $ | 716,278 |
SSGT II(2) |  |  | — |  |  |  | 798,395 |  |  |  | 1,843,769 |
SST VI |  |  | 3,420,040 |  |  |  | 1,348,314 |  |  |  | 178,282 |
SSGT III |  |  | 1,017,194 |  |  |  | 145,622 |  |  |  | — |
|  |  | 4,437,234 |  |  |  | 2,292,331 |  |  |  | 2,738,329 |
Property Management Fees: |  |  |  |  |  |  |  |  |
SST IV(1) |  |  | — |  |  |  | — |  |  |  | 346,179 |
SSGT II(2) |  |  | — |  |  |  | 407,706 |  |  |  | 709,533 |
SST VI |  |  | 1,243,056 |  |  |  | 551,493 |  |  |  | 99,602 |
SSGT III |  |  | 358,494 |  |  |  | 62,426 |  |  |  | — |
JV Properties |  |  | 738,408 |  |  |  | 432,944 |  |  |  | 116,984 |
|  |  | 2,339,958 |  |  |  | 1,454,569 |  |  |  | 1,272,298 |
Tenant Protection Program Fees: |  |  |  |  |  |  |  |  |
SST IV(1) |  |  | — |  |  |  | — |  |  |  | 285,959 |
SSGT II(2) |  |  | — |  |  |  | 250,156 |  |  |  | 636,671 |
SST VI |  |  | 841,582 |  |  |  | 396,758 |  |  |  | 158,662 |
SSGT III |  |  | 186,109 |  |  |  | 8,119 |  |  |  | — |
JV Properties |  |  | 271,221 |  |  |  | 186,658 |  |  |  | 51,185 |
|  |  | 1,298,912 |  |  |  | 841,691 |  |  |  | 1,132,477 |
Acquisition Fees: |  |  |  |  |  |  |  |  |
SST VI |  |  | 2,470,497 |  |  |  | 1,846,168 |  |  |  | 649,623 |
SSGT III |  |  | 837,000 |  |  |  | 846,000 |  |  |  | — |
|  |  | 3,307,497 |  |  |  | 2,692,168 |  |  |  | 649,623 |
Other Managed REIT Fees(3) |  |  | 556,353 |  |  |  | 538,457 |  |  |  | 530,243 |
Managed REIT Platform Fees |  |  | 11,939,954 |  |  |  | 7,819,216 |  |  |  | 6,322,970 |
Sponsor funding reduction (4) |  |  | (33,643 | ) |  |  | — |  |  |  | — |
Total Managed REIT Platform Revenues |  | $ | 11,906,311 |  |  | $ | 7,819,216 |  |  | $ | 6,322,970 |
(1) On March 17, 2021, we acquired SST IV and no longer earn such fees. Additionally, the Tenant Protection Program revenue for SST IV is now included in ancillary operating revenue in our consolidated statements of operations. (2) On June 1, 2022, we acquired SSGT II and no longer earn such fees. Additionally, the Tenant Protection Program revenue for SSGT II is now included in ancillary operating revenue in our consolidated statements of operations. (3) Such revenue primarily includes other property management related fees, construction management fees, development fees, and other miscellaneous revenues. (4) Pursuant to the Sponsor Funding Agreement, SmartStop funds certain costs of SST VI's share sales, and in return receives Series C Units in SST VI's OP. The excess of the funding over the value of the Series C Units received is accounted for as a reduction of Managed REIT Platform revenues from SST VI over the remaining estimated term of the management contracts with SST VI.
SST VI |
Related Party Transaction [Line Items] |
Summary of Related Party Carrying Value Of Investments In Advances | T he following table summarizes the carrying value of our investments in and advances to SST VI as of December 31, 2023 and 2022:
|  | As of December 31, |
Receivables: |  | 2023 |  |  | 2022 |
Receivables and advances due |  | $ | 5,861,326 |  |  | $ | 1,828,990 |
Debt: |  |  |  |  |  |
SST VI Mezzanine Loan |  |  | - |  |  |  | 35,000,000 |
SST VI Note |  |  | 15,000,000 |  |  |  | - |
Equity: |  |  |  |  |  |
SST VI OP Units and SST VI SLP |  |  | 1,932,357 |  |  |  | 3,221,410 |
SST VI Class C Subordinated Units |  |  | 3,306,494 |  |  |  | - |
Total investments in and advances |  | $ | 26,100,177 |  |  | $ | 40,050,400 |
SSGT III OP |
Related Party Transaction [Line Items] |
Summary of Related Party Carrying Value Of Investments In Advances | T he following table summarizes the carrying value of our investments in and advances to SSGT III OP as of December 31, 2023 and 2022:
|  | As of December 31, |
Receivables: |  | 2023 |  |  | 2022 |
Receivables and advances due |  | $ | 628,710 |  |  | $ | 156,082 |
Debt: |  |  |  |  |  |
SSGT III Mezzanine Loan(1) |  |  | 4,000,000 |  |  |  | 17,500,000 |
Equity: |  |  |  |  |  |
SSGT III OP Units and SSGT III SLP |  |  | 3,661,978 |  |  |  | 4,664,687 |
Total investments in and advances |  | $ | 8,290,688 |  |  | $ | 22,320,769 |
(1) As of December 31, 2023, $1.5 million was available to be drawn on the SSGT III Mezzanine Loan.

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