Proper day-to-day management is vital to the success of your self-storage facility. Consider working with a self-storage management firm to boost your service quality. The right firm can advise you on how best to leverage existing resources and help you acquire new ones to improve your facility’s performance. Here’s when 3rd party self storage management services are needed:
You’re New to the Self-Storage Industry
Your success in the self-storage industry is contingent on your occupancy levels. The higher your occupancy rate, the more your revenue will be. A 3rd party self-storage management firm can help you navigate the industry’s nuances to improve your occupancy. The right firm can advise you on the best pricing based on your amenities and target market. They can also recommend improvements your facility may need to make it more attractive for clients. T
hese improvements may range from increasing your security to introducing climate-controlled storage solutions for clients looking to store delicate items. A management firm can also help you navigate the self-storage legal landscape. They can handle everything from lease agreements with tenants to contracts with facility vendors. Choose a firm that offers services ranging from marketing to legal help if you’re new to the self-storage industry to get all-rounded assistance.
You Need to Improve Your Facility’s Performance
You may need a management firm’s services if your facility needs to improve customer satisfaction, occupancy, or revenue. Common signs of underperformance are frequent client complaints, low occupancy rates, and reduced income. A management firm can help you get to the root of your facility’s performance decline. They can conduct client surveys, talk to your employees, and inspect your facility to determine what to improve to boost your performance. As a neutral party, a management firm can identify inefficiencies you may miss in your operations.
You Have Time Constraints
Managing a storage facility is a demanding task requiring significant time commitment. As an owner working alone, you must visit your facility frequently to oversee operations. You must also review your financials frequently to make sure your revenue aligns with occupancy rates and business goals. Doing this while handling other commitments like work or family can be overwhelming.
Third-party management firms can help you balance your responsibilities by taking over day-to-day operations. They can make sure your facility operates as it should, giving you time to focus on other obligations. Management firms provide regular reports to facility owners to keep them in the loop despite not being physically present. This means you can even go for months without physically visiting your facility and still know how it’s operating.
You Want to Expand
The self-storage business can be lucrative, as there’s a high demand for reliable storage solutions, so it’s normal to consider expanding your business. Working with a management firm can make your expansion easier if you are. Third-party storage managers can provide insights into market demand. This can help you determine the best locations to open your new facilities.
Constructing new facilities in areas with high storage demands can boost occupancy and revenue. Management firms can also advise you on the features clients look for in self-storage solutions today to make sure your new locations meet clients’ needs. They can also handle marketing for your new facilities and help you acquire and train new employees. Look for a management firm with a proven history of success helping storage facilities expand.
Invest in 3rd Party Self Storage Management Services
A reliable 3rd party self storage management firm can increase your chances of succeeding in the storage industry. The right firm can help you meet your clients’ and employees’ demands by observing your daily operations to identify areas that need improvement. It can also help you stay current by providing insights on market trends and self-storage best practices.