The Fifth Rule of Thumb – Managing Your Property – The Welcome Package

When you purchase a new self-storage facility, your current renters may be very nervous about the pending changes. They don’t know what you are going to do and so they are imagining the worst. They just know that you are going to raise their rents and change the availability of the facilities and every ridiculous thing you can’t even think of. Your job is to keep them from panicking and moving out before that happens. This is why you want to have a really fantastic welcome package.

When you put together your welcome package be friendly, introduce yourself. Make sure that they know that things are either going to be the same or better. If you are changing something phrase it in a way that they will feel that it is helping the facility become safer or more structured.

If you are changing the hours, or the late fees or the manager or the managers hours, help them to understand how it benefits them. For example, if you are increasing the hours the self-storage facility is open, show them how that makes it easier to get to their belongings. If you are shortening the length of time that the property is open, tell them how that increases security. Try to always put a positive spin on your change.

When you are renting to new tenants, you want to have a welcome package for them as well. This can really impress your new tenants and help with word of mouth referrals. The package should go over referrals and any discount they may receive for sending you new clients. This welcome package needs to review the hours that they can access their belongings, what they can and can’t store in the property, your automatic payments and how that works. You need to go over late fees in case a payment doesn’t go through. Go over your security to show them how safe their belongings are. If you have a large facility, include a map to show them where their unit is so they can easily find it next time. A welcome package is especially helpful for tenants who have never stored anything before.

A welcome package really sets the tone for your self-storage facility and the experience that you want to have with your renters. Make sure that you put it together in a way that will show them how great it is to be a part of your self-storage facilities culture. As always, happy investing.