Category: Best Practices

Demand for workers has been a prevalent topic across the nation in recent months. We have seen more and more opportunities become available to job seekers, meaning more options for employment and a greater need to convince applicants that your company is the place to be. With that being said, how can the recruiting process be adjusted to show greater success? Try Texting Consider communicating with candidates primarily through text. Let’s face it, the spam folder located in everyone’s email inbox is filled to the brim with messages that are…

Janus International Group, Inc. (NYSE: JBI) (“Janus”), the leading global manufacturer and supplier of turn-key building solutions and new access control technologies for the self storage and other commercial and industrial sectors, today announced that bonus depreciation benefits are being reduced, what that means for self storage owners and how they can take advantage of it before it’s too late. While to some in the self storage industry, cost segregation studies may seem like a bourgeoning concept, the truth is, owners have been taking advantage of the significant tax benefits…

Absolute Storage Management (Absolute), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months ended June 30, 2022. 2022 Highlights for Three Months Ended June 30, 2022: Increased same-store revenue by 17.7% vs. the same period in 2021. Acquired twelve (12) management contracts: nine (9) operating facilities, some from previous REIT management, two (2) facilities at the completion of construction and one (1) property as a result of receivership. 2022 Highlights for Six Months Ended June 30, 2022: Increased same-store revenue…

Researchers predict the global cloud computing market size will be worth more than $1,630 billion by 2030. As of 2019, approximately 94% of companies used cloud computing within its operations. This estimate includes usage among small and medium-sized businesses. There are cloud computing services available for businesses of any size. What Is Cloud Computing? In a nutshell, the term “cloud computing” refers to the process of accessing data or software programs over the internet instead of using a server or computer located on your premises. The cloud enables total access…

With yet another summer leasing season underway, the self storage industry is off to a solid start. A recent report from Storable showed that operators started leasing season in May with record high rental rates, with an average monthly unit price of $111.31 per square foot. Rates continued to rise through June reaching $115.88 per month average for all unit types. Operators started the leasing season with record high occupancy as well. The report found a healthy rate of churn through May and June, suggesting that tenant demand is holding…

Since the pandemic started, self storage operators have been under increased threat from cyberattacks. Storage operators are not alone. All small and medium-sized businesses have endured increased sophistication and frequency of cyberattacks over the last couple years. But as an industry, self storage has been a latecomer to the digital landscape when compared to other sectors like retail. The rush to move to contactless operations and offer online rentals had many storage owners dealing with a level of risk and exposure to cyberthreats that they weren’t quite prepared for. For…

Automation, once thought to be something out of a sci-fi movie, is becoming an integral part of our everyday lives, and self storage is certainly not excluded. Over the last few years these technologies have skyrocketed. First, they were implemented out of temporary necessity during the pandemic, but the convenience and effectiveness they provide have made them here to stay. When thinking through what automations you should use at your facility, think about pain points you are having and how an automated system could solve them. Collections Take collections for…

With online commerce becoming an ever-growing necessity, having a presence online for your self storage facility is non-negotiable anymore. Don’t lose sleep over your digital marketing efforts. You can make sure your self storage facility is reaching your customers effectively with these five digital marketing tools. 1. Website A website is the place customers often visit more frequently than a physical location because it’s a fast, easy and constantly open digital store front. It’s a place for your customer to get to know your self storage facility and the products…

One of the keys to success in the self storage industry is setting your rental rates competitively. So, what does it mean exactly to have competitive rates? Pricing your self storage units competitively means that you strategically set the rental rates relative to the competition in your market. Competitive pricing occurs in industries where the products being sold are pretty similar to each other like toothpaste, gasoline and, of course, self storage units. To many customers, a storage unit is a storage unit. That means if you offer a 5×5…