Sustaining Your Self Storage Facility As A Business

[Asa Ifill]

What's going on BP family, I hope everyone is doing well! My team and I have recently purchased a smaller 103 unit self-storage facility with two apartments on site we will also rent out. We purchased this property in April of this year and are at the final stages of renovations on the interior/exterior of the building along with the apartment spaces.

At this time, we are sending out our rent increase letters to inform the tenants of our rent raises to be somewhat close to the current street rate. As you know tenants will not like the rent increase which will most likely cause them to leave. Does anyone have a recommendation on a lead source for new tenants? I have heard of Sparefoot, but they are not very consistent/cost-efficient in my experience using them?

Currently, we are using WebSelfStorage as our management software to record payments and store tenant info. With our current monthly income at this facility, WebSelfStorage was the cheapest option. Does anyone have any recommendations on a management software they can vouch for? 

Thanks, 

Asa