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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:              
Total revenues $ 58,704,960 $ 56,453,889 $ 175,430,595 $ 156,225,998 $ 212,643,094 $ 168,764,571 $ 124,024,363
Operating expenses:              
General and administrative 6,277,252 7,330,245 19,995,770 21,114,475 28,253,905 23,265,196 16,471,199
Depreciation 13,427,138 13,220,916 40,075,331 36,155,008 49,417,679 40,946,406 32,294,627
Intangible amortization expense 1,731,791 4,849,934 5,487,187 13,222,791 15,200,854 12,422,205 9,777,116
Acquisition expenses 75,933 77,813 118,229 780,684 888,009 934,838 1,366,092
Contingent earnout adjustment 0 200,626 0 1,514,447 1,514,447 12,619,744 (2,500,000)
Impairment of goodwill and intangible assets         0 0 36,465,732
Impairment of investments in Managed REITs         0 0 4,376,879
Write-off of equity interest and preexisting relationships upon acquisition of control 0 0 0 2,049,682 2,049,682 8,389,573 0
Total operating expenses 40,565,210 43,555,146 121,779,884 122,810,858 162,875,473 152,435,452 145,164,573
Gain on equity interests upon acquisition 0 0 0 16,101,237 16,101,237   0
Gain on sale of real estate       16,101,237 0 178,631 0
Income (loss) from operations 18,139,750 12,898,743 53,650,711 49,516,377 65,868,858 16,507,750 (21,140,210)
Other income (expense):              
Equity in earnings (losses) from investments         (1,690,205) (1,050,250) 0
Other, net 432,645 1,729,957 2,376,138 1,444,061 (848,805) (2,055,351) 160,461
Interest expense (15,925,440) (11,752,656) (45,533,886) (28,181,026) (41,511,911) (33,383,604) (36,053,312)
Net loss on extinguishment of debt 0 0 0 (2,393,475) (2,393,475) (2,444,788) 0
Income tax benefit (expense) 1,050,050 (102,233) 906,624 402,242 554,785 1,811,275 5,826,258
Net income (loss) 2,978,726 2,246,524 9,290,680 19,529,105 21,669,452 (19,564,718) (51,206,803)
Net (income) loss attributable to noncontrolling interests (463,844) (366,047) (1,573,727) (2,528,010) (2,847,572) 2,663,123 6,901,931
Less: Distributions to preferred stockholders (3,150,685) (3,150,684) (9,349,315) (9,349,315) (12,500,000) (12,500,000) (10,049,522)
Net income (loss) attributable to SmartStop Self Storage REIT, Inc. common stockholders $ (635,803) $ (1,270,207) $ (1,632,362) $ 7,651,780 $ 6,321,880 $ (29,401,595) $ (54,354,394)
Net income (loss) per Class A & Class T share - basic $ (0.01) $ (0.01) $ (0.02) $ 0.08 $ 0.07 $ (0.37) $ (0.91)
Net income (loss) per Class A & Class T share - diluted $ (0.01) $ (0.01) $ (0.02) $ 0.08 $ 0.07 $ (0.37) $ (0.91)
Weighted average number of shares outstanding- basic         91,939,172 79,438,374 59,616,407
Weighted average number of shares outstanding, Diluted         92,056,438 79,438,374 59,616,407
Self Storage Rental Revenue              
Revenues:              
Total revenues $ 52,502,410 $ 51,022,976 $ 155,457,123 $ 140,551,208 $ 191,749,578 $ 150,610,337 $ 104,888,883
Ancillary Operating Revenue              
Revenues:              
Total revenues 2,255,170 2,209,695 6,625,943 6,282,850 8,445,803 7,552,597 5,286,042
Managed REIT Platform Revenue              
Revenues:              
Total revenues 2,517,853 2,055,224 9,115,093 5,877,454 7,819,216 6,322,970 8,048,630
Reimbursable Costs from Managed REITs              
Revenues:              
Total revenues 1,429,527 1,165,994 4,232,436 3,514,486 4,628,497 4,278,667 5,800,808
Operating expenses:              
Operating expenses 1,429,527 1,165,994 4,232,436 3,514,486 4,628,497 4,278,667 5,800,808
Property Operating Expenses              
Operating expenses:              
Operating expenses 16,316,563 15,984,019 49,332,858 42,726,575 58,437,110 48,127,657 38,305,199
Managed REIT Platform Expenses              
Operating expenses:              
Operating expenses $ 1,307,006 $ 725,599 $ 2,538,073 $ 1,732,710 $ 2,485,290 $ 1,451,166 $ 2,806,921
Class A and T Common stock              
Other income (expense):              
Net income (loss) per Class A & Class T share - basic $ (0.01) $ (0.01) $ (0.02) $ 0.08 $ 0.07 $ (0.37) $ (0.91)
Net income (loss) per Class A & Class T share - diluted $ (0.01) $ (0.01) $ (0.02) $ 0.08 $ 0.07 $ (0.37) $ (0.91)
Weighted average number of shares outstanding- basic 96,837,584 96,786,669 96,824,500 90,305,337      
Weighted average number of shares outstanding, Diluted 96,837,584 96,786,669 96,824,500 90,425,665      
Class A Common stock              
Other income (expense):              
Weighted average number of shares outstanding- basic 88,725,350 88,701,119 88,725,831 82,224,600 83,857,222 71,454,798 51,813,718
Weighted average number of shares outstanding, Diluted 88,725,350 88,701,119 88,725,831 82,344,928 83,974,488 71,454,798 51,813,718
Class T Common stock              
Other income (expense):              
Weighted average number of shares outstanding- basic 8,112,234 8,085,550 8,098,669 8,080,737 8,081,950 7,983,576 7,802,689
Weighted average number of shares outstanding, Diluted 8,112,234 8,085,550 8,098,669 8,080,737 8,081,950 7,983,576 7,802,689
JV Properties              
Operating expenses:              
General and administrative         $ 28,253,905 $ 23,265,196 $ 16,471,199
Depreciation         913,936 742,922 521,101
Total operating expenses         29,167,841 24,008,118 16,992,300
Income (loss) from operations         (29,167,841) (24,008,118) (16,992,300)
Other income (expense):              
Equity in earnings (losses) from investments $ (274,236) $ (187,123) $ (1,215,114) $ (611,526)      
Other, net         (794,559) (1,279,703) (278,436)
Interest expense         (172,510) (176,294) (189,085)
Income tax benefit (expense)         (44,465)    
Net income (loss)         $ (30,179,375) $ (25,464,115) $ (17,459,821)
Managed REITs              
Other income (expense):              
Equity in earnings (losses) from investments $ (444,043) $ (340,164) $ (893,793) $ (647,548)