Self Storage: Golden Nuggets 2

Here is the second segment of the “Golden Nuggets” blog I posted a few weeks ago. If you have not read my other post (Self Storage: Golden Nuggets), go ahead and look at that one as well.

These are just a few tips I have learned while managing large facilities and staying active in this industry.

Renting Units Near a College

If you have a university or college close to the facility, consider offering student discounts. They typically go home during summer break, so storing small items is common. Offer a discount for three months.

Tip: set up a table at the local hot spot and pre-register people via laptop. Give away promotional items like keychains, water bottles, binders, etc.

Automation

Facilities can seem like a maze to new customers. If you are fully automated (or even a little automated), and your move-in process involves a kiosk or call center, make sure you supply a map of your storage facility, with their unit highlighted so they know where to go.

Tip: Highlight any exits, entry gates, and bathrooms to give the customers direction in case of an emergency

Due Diligence

During any walkthrough, audit, or inspection you might want to consider getting a camera to inspect each unit. Sometimes sellers inflate the numbers a little bit or just don’t have accurate records. You can buy a little camera to look under doors to make sure they are filled and numbers aren’t inflated.

Tip: This type of camera is called a “borescope inspection camera”. You can get one that attaches directly to your mobile phone for under $20.

Tip: Save time just take a random number of units as a test batch and go look.

Website

If you just launched a new website, you might want to consider offer exclusive discounts on the website to drive more traffic. Make sure you let everyone know, by placing a simple marquee sign on the road that gets the most car traffic. Put something as simple as “check us out at Yourwebsite.com”

Tip: Offer a lower price if they sign up online.

Tip: Always test your website thoroughly before launching!

Tip: Put customer testimonials on the website. Get video testimonials if you can.

New Move-Ins

Make it a policy that tenants must provide a current ID during the move in process. Make a copy of this and keep it in their file. If they don’t have an ID, then you probably saved yourself a headache in the future.

Tip: Cross reference the information they give you during the move in sheet, with the information on the ID.

Yard Inventory

If you don’t do yard inventories…start. Do them monthly, or even weekly if you can. Print out an inventory/walkthrough sheet from your management software. Walk the entire facility and check every unit. Cross reference every unit with your sheet to see if it should be vacant or not (does it have a lock or not?). Make note of any errors. Sometimes people move out and never tell the manager. This is also good for making sure all the overlocks are on. Call all the tenants that looks like they have moved out.

Tip: Always do your inventory walk before running auto-pays. This will ensure your records are accurate before charging any accounts.

Tip: This should be a major component of your audits

Tip: This is also a great time to look over the facility for maintenance and general cleaning.

Tip: If you have a large facility, take the golf cart!

Rate shopping

Price shop your competition every month at minimum. Call them and visit their website and get prices, specials, sizes available, insurance requirements, amenities, and move-in process. Some management software platforms have tracking sheets for this, so you can see keep track of prices.

Track a handful of sizes and types of units. Take note of the exact type of unit you are tracking. If you are tracking the prices of a 10x10 climate control unit, make sure you get a price every month for that same type of unit. Some managers will just ask for a 10x10, not realizing they are getting a price on a non-climate controlled unit.

If your management software doesn’t have a tracking section for this the simply create a spreadsheet with the facility address, distance from your facility, unit size, unit type (drive up, interior, climate control, etc), price, special offered, insurance offered, amenities, etc.

Tip: Always ask for multiple units and even parking spaces.

Tip: Write down some easy scripts to use during your conversations. Managers know they are getting shopped when you ask industry specific questions. The best way to go about this is to pretend like you know nothing about storing at all.

Tip: Have a friend, family member, or even hire someone to make the calls.

Passwords/access codes

You will for sure have a handful of programs, software, and even third-party companies to run your facility. Working with these components means having passwords and access codes. Write them all down and save them in your safe.

Tip: Also keep a binder for the owners/instruction manual for each program you have at your facility. If your manager must troubleshoot something they will have something to reference.

Weather

If you are in a state that gets a lot of snow/ice, you know the potential hazard your gates face during a snow/ice storm. Your gate turns into a guard rail due to the slick conditions. You should consider keeping your gates in the open position if the salt is not effective.

Tip: don’t forget to lay salt down before any snow or ice storm

Tip: Contact your local police department and inform them that you will have your gates open and if they can, drive by at least once overnight to look.

Live Chat

Have a feature on your website that allows the managers to live chat with tenants. Most people do business online and are more likely to engage conversation with the manager on an online platform. This opens more channels to engage with customers and saves the manager some time.

That’s its for the second segment of “Golden Nuggets”. Keep an eye out for the 3rd one.

Thanks for reading.