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                               FIRST AMENDMENT TO
                          CORPORATE SERVICES AGREEMENT

     This  Amendment,  dated  as  of  January  1,  1996, amends the Corporate
Services  Agreement,  dated  as of November 16, 1994 (the "Agreement"), by and
among  of  Storage  Trust Realty, a Maryland real estate investment trust (the
"Company"),  Storage  Trust  Properties,  L.P., a Delaware limited partnership
(the  "Operating  Partnership"), and Storage Realty Management Co., a Delaware
corporation (the "Subsidiary Company").


                               W I T N E S E T H:


     WHEREAS,  the  Company,  the  Operating  Partnership  and the Subsidiary
Company desire to amend the Agreement as set forth in this Amendment;

     N O W,  THEREFORE,  the  Company,  the  Operating  Partnership  and  the
Subsidiary  Company,  being  all of the parties to the Agreement, hereby amend
the Agreement as follows:


1.    Amendments.

      (a)   Effective as of the date hereof, Section 2.4.2 of the Agreement is
            hereby deleted in its entirety and replaced with the following:


                 2.4.2 After  each  quarter,  the Operating Partnership shall
            submit  to  the Subsidiary Company a calculation, certified by one
            of  its  executive officers as to its accuracy, of the amount owed
            by  the  Subsidiary  Company for services listed on Exhibit A that
            the  Operating  Partnership  provided  for  the Subsidiary Company
            during  that  quarter.   The amount owed by the Subsidiary Company
            under  subsection 2.2.3 and for services listed on Exhibit A shall
            be  the  lesser of (i) $50,000 per quarter or (ii) the amount owed
            under subsection 2.2.3 plus the amount determined on the following
            basis:



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            3% of Gross Receipts From
            Sales of Locks, Boxes and Other Items and
            the Processing of Insurance
            and 45% of Subsidiary Company's
            Gross Income from Truck Rental
            Business (Including Compensation Received
            in Respect of Doing
            Proper Paperwork for Truck Rentals)
            at Properties
            Owned by Operating
            Partnership

       Amount Owed  =          +

            Number of Properties Managed         Total Operating Partnership
            by Subsidiary Company                General Administrative
            Total Number of Properties    x      Expenses for the Quarter, Minus
            Owned or Managed by Operating        such Expenses Reimbursed by the
            Partnership and Subsidiary Company   Company


     (b)   Effective  as  of  the  date  hereof,  line 14 on EXHIBIT A to the
           Agreement  is hereby deleted in its entirety and replaced with the
           following:

       14.   Sales  of  Locks,  Boxes  and  Other Items and Processing of
             Insurance and Truck Rental and Related Site Use at Operating
                              Partnership Properties


      2.    Continuing  Effectiveness.  As herein amended, the Agreement shall
remain  in  full  force and effect and is hereby ratified and confirmed in all
respects.

      3.    Defined  Terms.    Capitalized  terms  used and not defined herein
shall have the respective meanings assigned such terms in the Agreement.

      4.    Governing  Law.  This Amendment shall be governed in all respects,
whether  as  to validity, construction, capacity, performance or otherwise, by
the laws of the State of Missouri, in which it has a situs.

      5.    Severability.    If  any provision of this Amendment shall be held
invalid  by a court with jurisdiction over the parties to this Amendment, then
such  provision  shall  be  deleted  from  the  Amendment, which shall then be
construed  to  give effect to the remaining provisions thereof.  If any one or
more  of the provisions contained in this Amendment or in any other instrument
referred  to  herein  shall, for any reason, be held to be invalid, illegal or
unenforceable  in  any  respect, then, to the maximum extent permitted by law,
such  invalidity,  illegality  or  enforceability  shall  not affect any other
provisions of this Amendment, the Agreement or any other such instrument.



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       6.    Counterparts.    This  Amendment  may  be  executed in one or more
counterparts,  each  of  which  shall  be deemed an original, but all of which
taken together shall be considered one and the same instrument.

       7.    Limitation  of  Liability  of  Shareholders  and  Officers  of the
Company.    ANY  OBLIGATION  OR  LIABILITY WHATSOEVER OF THE COMPANY WHICH MAY
ARISE  AT  ANY TIME UNDER THIS AMENDMENT OR THE AGREEMENT OR ANY OBLIGATION OR
LIABILITY  WHICH  MAY  BE  INCURRED  BY  IT  PURSUANT TO ANY OTHER INSTRUMENT,
TRANSACTION  OR UNDERTAKING CONTEMPLATED HEREBY OR THEREBY SHALL BE SATISFIED,
IF  AT  ALL, OUT OF THE COMPANY'S ASSETS ONLY. NO SUCH OBLIGATION OR LIABILITY
SHALL BE PERSONALLY BINDING UPON, NOR SHALL RESORT FOR THE ENFORCEMENT THEREOF
BE  HAD  TO,  THE  PROPERTY  OF  ANY  OF ITS SHAREHOLDERS, TRUSTEES, OFFICERS,
EMPLOYEES  OR AGENTS, REGARDLESS OF WHETHER SUCH OBLIGATION OR LIABILITY IS IN
THE NATURE OF CONTRACT, TORT OR OTHERWISE.

     IN  WITNESS  WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.

                                          STORAGE TRUST REALTY
                                          By:/s/ MICHAEL G. BURNAM
                                             Name:  Michael G. Burnam
                                             Title: Chief Executive Officer


                                          STORAGE TRUST PROPERTIES, L.P.

                                          By:   Storage Trust Realty,
                                                General Partner

                                          By:/s/ MICHAEL G. BURNAM
                                             Name:  Michael G. Burnam
                                             Title: Chief Executive Officer


                                          STORAGE REALTY MANAGEMENT CO.

                                          By:/s/ MICHAEL G. BURNAM
                                          Name:  Michael G. Burnam

                                             Title: President