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Updated almost 5 years ago,
Self storage boots on the ground??
Hi everyone I initially started my investment search in multi family but have since pivoted to self storage after having conversations with several people investing in the self storage and in multi family. The operations aspect using remote management and software for a majority of tasks in a self storage business and renting is right up my alley as I currently work for a real estate tech company in operations/sales. My main concern is how to find someone to be the boots on the ground at the facility if I am a few states away and managing remote. Especially when it comes down to smaller towns sub 20k population.
Are you all just getting someone as a 1099 contractor? What kind of pay are you offering or is it just task based pay? How many hours on average are you usually needing someone? The property I am negotiating is at a 96% occupancy rate currently but I would be expanding on the property after acquiring. 53 units on the property now.
Location is a tertiary market about 30 minutes from a market with a bit under 500k residents.
Any insight would be much appreciated!