Finishing Up the 5 Rules of Thumb – Finding the Right Software

We have spent the last 4 months talking about the 5 Rules of Thumb. In our concluding article, we are going to discuss a little about some of the technology that you need to have in place to properly run your self-storage facility.

First of all, you want a great software system. You do not need to reinvent the wheel. Most of the systems that you need to manage your self-storage facility are already out there. You just need to find them. When you are looking, find software that will send out rent reminders. You want software that will remind your renters that the payment is about to be automatically withdrawn. You want software that will let you and your tenant know if payment wasn’t received. You want software that will automatically send out your notices if you have to put a lock on the unit. Use software to automate your business as much as possible.

Remember that this is your asset. You have spent the money to get it to a point where it is going to make money, don’t skimp on the software. The software will help you make money too. If you can’t keep track of who is paying rent or not paying rent, then you are going to lose money.

You also want to have a gate with a keycode for access. This way your tenants can access the property whenever they need to during normal business hours. This makes it so that you don’t have to have an onsite manager is you are a smaller self-storage facility.

You also want a security system that will keep your asset safe. Find a good security system that you can interface with your current system. Your security system will help keep your self-storage facility safe and it will help your clients feel safer.

Don’t reinvent the wheel. If you feel like you don’t know how to do something, do some research. There is probably software or training out there to help you learn how to do whatever it is that you are struggling with. You don’t have to learn self-storage investing by trial and error. You know your property and your business model. Only you can run your facility the way that you want to run it.

Make sure that you research the systems that are out there so you can get as much help as possible and as always, happy investing.