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Experience with National Third Party Managers for Self Storage?
I'm vetting third party management companies for my self-storage acquisition. The property has been doing business as a mom & pop independent for the last ten years. I will be an absentee owner. I've talked with the three big national 3d party managers (Extra Space, CubeSmart, LifeStorage) and the two big southeast regional players (Universal and Absolute). Anyone have any experience with any of these guys? Any views on national v. regional managers? Ballpark expense projections are pretty much a wash for all five - pretty consistent across the board. The national companies have upfront costs associated with rebranding the signage and office; some of them pick up some of those costs, and I think I can probably negotiate with the ones who haven't offered yet. Everything I've read suggests that the technology infrastructure associated with the big guys is the best way to maximize pushing rents and occupancy: dynamic pricing, web penetration, etc. I hope to hold this property and cash flow, but I'm also wondering about exit strategy as an independent v. national brand...