We’re an MHC syndicator based in San Diego with a 15-year track record of strong performance.

If they failed to perform, you should have been able to terminate early and/or end your contract without penalty.

Just completed my third self-storage conversion in October with my W2 job at Elm Builders.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Keep in mind, you should have already had a conversation with the hard money Lender to know their terms and process, and be ready to perform. 

You want to make sure that the developer can perform and that the type of development proposed is needed in the market and that the neighbors don't oppose the project.

The two common ways to get rents up is 1) to move qualified family into the unit for a year 2) perform and extensive rehab such that tenant occupancy is not possible. 

To really make a good informed decision you'll want to look at all of the metrics of your properties performance. 

I'm a huge fan of San Antonio as an STR market, but it is, like most "mature" markets, very sensitive about WHAT performs well. 

6 months later, I have doubled the size of the yard with all the clearing, performed a unit turn raising rent over $600.