What Skills Do You Need to Start a Self Storage Business Today?
This week I want to cover an article I wrote for Inside Self Storage magazine earlier this year. You can read the full article HERE or you can read it in its entirety below. I think it will be valuable to go through each of these skills in more detail, but this week...
Do You Know How to Collect the Right Data Before Starting a Self Storage Project?
The self storage world has never been as easy and as complicated as it is right now. There are a lot of software programs out there that make it easier. There are a lot of software programs out there that make it more complicated. In the old days if we found a site we...
Do You Know the Benefits of Both Self Storage Trade Associations?
Are you in the self storage business? If so, are you a member of the SSA (Self Storage Association)? How about Inside Self Storage (ISS)? I found it strange when I first got in the self storage business that there were two trade organizations that both had great...
How to Successfully Choose Your First Self Storage Project
I get a lot of questions like, “I’m looking at this site,” or, “I’m looking at this facility. How do I know if I should move forward?” That’s hard to answer because it depends. Depends on what? Why you want to get into the self storage business. What...
Should I Invest In A Self Storage REIT Or In A Self Storage Private Placement?
So you’ve decided to invest in self storage. You know the benefits of self storage over other types of real estate. If you need more information about those benefits, click HERE. Now the decision is how and where to invest. This is assuming that you don’t...
Five Things To Know About Investing In Self Storage Today
If you are looking for a business opportunity or a commercial real estate play to invest in, I’m sure self storage has caught your attention. It is most likely something you thought about but never investigated seriously or never made a real move on. Now you are...
Is It Time to Be Cautious About Building New Self Storage?
I don’t have a crystal ball to look into the future and see what is coming for the self storage industry. But I don’t think I need one either. We are moving into the “hyper supply” phase of the economic cycle in many markets. If you are not sure what that means, click...
How To Create A Winning Self Storage Strategy: Begin With The End In Mind
“Begin With The End In Mind.” Even my 10-year-old Grandson has learned this because his school teaches the Seven Habits of Highly Successful People by Steven Covey. “Beginning with the end in mind” is Habit #2 of Steven Covey’s book. It is also a very...
Theory Vs Reality: The Life Cycle of a Self Storage Expansion Project
“You can never lose money if you’re selling your self storage facility for a profit.” At least that is what I’m telling myself. We recently received an offer from a REIT on some of our self storage expansion projects and the value is what we...
How to Avoid Mistakes When Making Self Storage Projections
We create a Proforma for every self storage project before putting it into service. If I’ve had one consistent success in the self storage business it has been hitting or beating the Net Operating Income (NOI) projection in these Proforma. This has been a big...
Theory vs Reality: Working with Investors to Buy Self Storage
Many of us in the self storage business work with investors. We use their money to buy self storage, and give them returns on their money in exchange for the use of it. We often agree to return all their money within a certain time period plus any unpaid...
How Self Storage Performs in a Recession
When I saw how self storage worked, I fell in love with it. In the mid-1990’s I was a commercial real estate professional. I sold all kinds of investment real estate but I also had a company that focused on office building sales, leasing, and management. Our...
Are CAP Rates Going Up? How to Keep Your Self Storage Business Profitable
Interest rates have gone up and will most likely continue to go up. That has an effect on the self storage industry. As we move into the “Hyper Supply” phase of the real estate cycle (click HERE for details on the phases of the cycle) one of the historic...
How To Profitably Leverage Self Storage During Any Phase Of The Real Estate Cycle
I speak often about the oversupply of self storage in certain markets and how to position yourself to stay relevant in today’s market. My default setting is to assume that everyone has a real estate background and understands where we are in the current real...
How to Create a Marketing Plan For Your New Construction Self Storage Facility
Many of us are building new self storage facilities (instead of Additions or Conversions) as the way to start or grow our self storage business. As more square footage hits the market, marketing has never been more important. In this episode, I’ll share what...
How to Perfect Your Self Storage Customer’s Journey for Increased Occupancy
The days of simply opening your self storage facility every day and maintaining a 90% plus occupancy rate are over. For the last few years, all you needed was to have the power on and a functioning gate and you had high occupancy. Those days are over. The market is...
What Self Storage Investors Should Do in 2018 To Start Or Grow Our Business
The self storage industry in the US has never been more varied than it is today. It’s all over the place. In Las Vegas rents are up 70%. In Denver, rents are down 5%. In Dallas, about 22% more square feet of self storage has hit the market in the form of new...
Habits for Success Series: The Final Ingredient for Self Storage Success
As we conclude our series on the Habits for Success series, we’ll cover the final habit I’ve seen that people who successfully get in the self storage business possess. This last habit took me a while to flush out. I could see the difference between...
Habits For Success Series: Authentic Self Confidence
As I’ve watched or coached people who successfully start a self storage business, I’ve seen four traits or habits they have in common. These habits are what they have in common, not what they know – knowledge of rates of return or how to spot a good...
Habits for Success Series: Being Effective at the Right Task in Your Self Storage Business
As I’ve worked with successful people who start a self storage business, I notice they all are “Effective at the Right Task.” This is the second trait, habit, or way of navigating life that is required to be successful at getting into the self storage business....
Habits for Success Series: Are You Clear on Your “Why” for Succeeding in Self Storage?
Unless you were born wealthy, or have great karma, the road to self storage success is rarely a straight line. In fact, I believe the key to success is how well you execute Plan B. Plan A is that stuff in your head that rarely ever happens the way you think it will....
Can You Learn the Habits Necessary to Succeed in Self Storage?
I wish I could tell up front who has what it takes to stick with it and get in the self storage business. I know it has never been more challenging to get started in the business than it is today. Prices are still high, lenders are tough, and due diligence periods are...
Do You Know the Most important KPI For a Self Storage Owner?
As a self storage business owner, do you know what your main KPIs (Key Performance Indicators) are? I wrote about them in the book Creating Wealth Through Self Storage. There are several KPIs we can track, but the most important one, in my opinion, is the...
Self Storage Demand Pricing – Are You For or Against?
One of the innovations the self storage industry has come up with recently is “Demand Pricing.” This is unit street pricing that adjusts daily or weekly depending on the availability and occupancy in a submarket. For example, a facility could usually rent a 10 x 10...
Value Pricing – How to Raise Your Self Storage Rental Income WITHOUT a Rent Increase
I am on a self storage mission this year. My mission is to close the gap between how the larger players in the self storage business and the smaller investors run their businesses. In last week’s episode, we discussed the data analytics program available to us...
Do You Have The Information You Need To Compete With Reits In Your Own Backyard?
I realized we were behind the curve in running our self storage business when we had an Extra Space open up in our submarket. Our facility had been enjoying over 95% occupancy for years. We had regular rate increases. Everything was firing on all cylinders. We would...
Self Storage REITs Have the Marketing Tech and the Money to Use it – Can You Compete?
I read an article in the Wall Street Journal in January about all the new self storage space coming online. It was the typical, overbuilt sector article we are seeing today. But one thing got me thinking hard. It was the quote from an Extra Space Executive. “Our...
The Top Seven Skills You Need to Start a Self Storage Business
Self storage is the best business there is for the small investor. It has all the benefits of a real estate play and few of the drawbacks associated with traditional investment real estate. It is also an operating business with very predictable cash flow. Because of...
Part 4 – How to Get Started Marketing Your Self Storage Facility on Facebook
As we explore this new online marketing landscape for self storage, you’ll see that it takes a whole new way of looking at how to get customers. The path to connecting with our client base online is not clear. We have to provide the right information and create...Part 3 – How to Get Started Marketing Your Self Storage Facility on Facebook
Last week we started creating a Facebook Ad Campaign for your self storage facility. Let’s continue. If you remember, we set up the Campaign. We chose the campaign objective. In this scenario, we choose “Conversions.” If you run this campaign and don’t like the...
Part 2 – How to Get Started Marketing Your Self Storage Facility on Facebook
In this series of Episodes, we are exploring online marketing strategies to fill up, then keep full, our self storage facilities. The days of just showing up and having 90% plus occupancy are gone. If that’s not happening where you are, it’s coming to an end soon....
How to Get Started Marketing Your Self Storage Facility on Facebook
As the self storage industry changes, grows and evolves, nothing changes faster than how we market for new customers. In the first facility I was involved with, 86% of our customers came from the Yellow Pages. The last time I ran a Yellow Pages ad, I lost around...
Are You Creating Big Enough Goals for Your Self Storage Business This Year?
If you knew you could not fail, what would you create this year for your self storage business? I have a couple more “mindset” topics to cover before we do a deep dive into some new online marketing strategies. We are beginning to utilize these techniques in our...
Do You Believe You’re Worth True Wealth With Self Storage?
We started this year’s Episodes looking into what we need to do to create the possibility of success in 2018 with our self storage business. And it was not knowing specific self storage ninja tactics. If you didn’t read or see last week’s Episode, please click here....
Do You Really Want To Be In The Self Storage Business?
Is 2018 the year for you? Is this the year you start your self storage business or take your business to the next level? I am going to go deep into how to do this and what my self storage company is doing. I will also share what others in this community are doing. You...
Are You Measuring This Metric in Your Self Storage Facilities?
Let me share a new self storage metric that has become important to me over the past few months. I have tracked this off and on but never watched it closely and never used it to make many decisions. This looks like it will be different as the market changes with a lot...
How to Grow Your Self Storage Income Without Raising Rates
As I indicated in Episode 137 after attending the 2017 Self Storage Economic Summit, I think self storage rental increases are going to slow down dramatically. As an industry, we have been enjoying steady rental increases over the past few years. Some of our...
How to stay empowered as you build your self storage business in 2018
The self storage industry is evolving at a fast pace these days. I’ve been having to deal with issues the second half of this year that I haven’t had to face before. Extreme overbuilding in some markets Extreme price cutting by large players in certain...
What self storage business questions do you need to ask to make 2018 your best year yet?
Last week I asked the question, “Are you asking the right questions about your self storage business?” We discussed asking different questions as a method for accessing what is hidden from your view. This is helpful for your personal growth and the growth of your...
Are you a self storage artist, manager, or risk taker?
Are you asking the right questions about your self storage business? I have learned over and over, the quality of your life is a function of the questions you ask yourself. Are you asking the right questions? I learned this in the real estate business the hard way. I...
A Look Into Self Storage’s Future From The SSA Economic Summit
I would like to share some takeaways I got from the 2017 Self storage Economic Summit I attended in September of this year. It was eye-opening. Let me share the Short Term Analysis and Long Term Analysis then my summary of them. Short Term Some of the main drivers...
Your Self Storage Online Relevance Always Starts With Google
Last week we talked about a strong internet presence for your self storage facility. How do you do that? There are many facets to a strong internet presence, but they all start with Google. And that is challenging because you will be competing against some monster...
Don’t Panic…Here is What To Do When A New Self Storage Facility Opens in Your Submarket
Here are action steps to take when a new large self storage competitor opens up in your market.
Getting Started Series-How To Put A New Facility Into Service
This episode completes the Getting Started Series for Self Storage Buyers Today. Here are some best Practices for putting your first or next self storage facility into service. This episode covers what to do and not do prior to the closing, day of the closing, and the first month after the closing.
Part 2: Getting Started Series-Best Due Diligence Practices Today For Self Storage
So we now have a self storage project under contract! Way to go! In last week’s Episode, we covered the first few spaces a self storage buyer goes through today to get to the finish line and either close on the project or let it go. In this Episode, we are going to...Getting Started Series – Best Due Diligence Practices Today For Self Storage
You now have a self storage facility under contract. Congratulations. Now what? This is where it can be exciting, scary, thrilling, and the most fearful thing you have ever done all at the same time. That’s normal, especially of it is your first self storage facility....Getting Started Series-Best Practices for Getting A Self Storage Deal To Stand Still
In today’s self storage business climate, reasonably priced deals don’t stay on the market long. If it is a facility your are interested in, it is critical that you control that property as fast as you can. “Deal Mode” This is the second stage...
Getting Started Series- Self Storage Investing First Steps
Once you find a self storage deal that looks good to you as your start self storage investing, my coaching is to quickly jump into deal mode. What is important as you enter deal mode is to know the steps, or more accurately said, the spaces of a deal. As I have...
Getting Started Series – Inside Scoop On How To Created More Self Storage Deals To Look At Than You Can Imagine- 129
Let’s discuss developing your skills of getting in front of good self storage deal flow.
Getting Started Series-The Most Important Part of Your Self Storage Strategy -128
The quality of your life is a function of the questions you ask yourself. When I ask people why they are getting in the self storage business, I usually hear answers like: “It is a good sector”. “I hear it is doing well today”. I often hear...
Getting Started Series – Self Storage CAP Rates Today & How To Relate To Them
“The Market is cooling off.” “Interest rates are going up.” “CAP Rates are going up.” We hear all kinds of projections from experts about the self storage industry today. However, nothing probably the most often used and least understood financial term is “CAP...
Part 5. Self Storage Marketing Series-Where Does Your Self Storage Facility Show Up?
Perhaps the most important thing for your self storage facility is to end up on the first page of Google when people search for self storage in your area. In terms of finding new tenants, other than a fantastic retail like location, I can think of nothing else today....
Part 3: Self Storage Marketing Series – Do You Know How to Find Your Customers Online?
We are now on the third step of how to run a simple Facebook paid ad campaign. If you missed Steps One and Two, click HERE for last week’s episode. So far we have designed an offer, or a few offers, we think will appeal to people in our facility’s market area. ...
Part 2: Self Storage Marketing Series – Do You Know How to Find Your Customers Online?
We are discussing how to advertise our self storage facilities online in today’s world. It is a subject I didn’t want to learn but had to out of necessity. I want to share what I have learned and applied so far in the world of online marketing for self storage....
Self Storage Marketing Series – Do You Know How to Find Your Customers Online?
Like I discussed last week, we track everything in our self storage business. We know where every new customer comes from. Each self storage facility is slightly different, but what is interesting is we can follow the trends and they are almost exactly the same....
A Simple But Effective Exercise To Grow Your Self Storage Business The Smart Way
Last week we discussed systemizing your operational systems and procedures. That one business concept can do so much to add value to your self storage business. We also had a five-episode series on how to create a lens into your business by learning how to read and...
Have You Systemized Your Self Storage Operations? Do You Know Why You Should?
Most people would say there is a big difference between a self storage facility and a McDonald’s restaurant. But is there? I love using McDonald’s as a benchmark company because everyone knows who they are. They were also one of the first to systematize their...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 5
We are back to where we started as we begin the end of this series on self storage finances. Hopefully, you are starting to understand what the financial reports for your business are telling you. Or the reports your soon to be business are generating. I realized I...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 4
Welcome to week four of the Self Storage Finances series. Here are the three statistics we have been discussing. 90% of all business fail within 10 years. The average swing from the bottom of an economic cycle to the top is ten years. 90% of all business owners don’t...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 3
Remember the 3 statistics we discussed last week? 90% of all business fail within 10 years. The average swing from the bottom of an economic cycle to the top is ten years. 90% of all business owners don’t read, or don’t know how to read a financial statement. We are...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 2
Over 90% of all business that are started today will fail within ten years. And don’t fool yourself, self storage is a business. Yes, it is real estate play but it’s also a business. In many ways, we are double exposed. We must have real estate knowledge as well as...
Do You Know What Story Your Numbers are Telling you? Self Storage Finances Series
I am amazed at the number of self storage owners, and business owners, that have little or no financial knowledge. I am no expert in reading financial statements. And I have struggled in the past with knowing the numbers for all of our facilities. But I have learned...
How to Build Trust Authentically and Genuinely in Your Self Storage Business
Whether you already own self storage facilities or you’re just getting started in the business, you ARE a business owner. There is a skill that is imperative for all business owners: The ability to Build Trust. Authentically and genuinely Build Trust. Every...
The 3 Key Practices to Build Trust with Your Self Storage Investors
I have learned so much more from the investors who work with us than they ever have from me. Much of it I shared last week in Episode 112. I discussed some of the metrics, benchmark numbers, and issues I’ve learned our investors are interested in. If you put yourself...
How to Work With Investors to Raise Capital for Self Storage Facilities
The number one area of interest for people that reach out to me is how to work with investors to raise capital for self storage facilities. I attract those type of question so often, I wrote about it in my book Creating Wealth Through Self Storage. At that time, I...
Part 2: The Number One Obstacle to Growing Your Self Storage Business
What is the number one aspect of the self storage business that stops people from starting or expanding their business? If you read or watched last week’s episode, you know what I think it is. Fear! I have seen fear paralyze people from taking the next step, or any...
The Number One Obstacle to Growing Your Self Storage Business and Five Simple Practices to Overcome It.
I write about many aspects of the self storage industry on this blog. I have detailed episodes on how to buy facilities in an overpriced market; how to spot, analyze and buy value-added opportunities; how to unlock bank financing, and more. But here is what I see is...
Good News for the Value-Add Investor From the 2017 Inside Self Storage World Expo
A big part of a leader’s job is to look into the future and predict what is coming so we can effectively prepare our company and people for it. If you are starting or growing your self storage business, you are the Leader. There is no better way to see trends and get...
Part 6: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
Today we conclude out series on “How To Analyze Self Storage In Todays Market.” After this episode, you will have all the tools you need to find and analyze self storage opportunity’s for maximum profit in the seller’s market we find ourselves in today....
Part 5: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
Are you ready to get in the self storage business today? Are you ready to grow your self storage business today? Yes, it is an overpriced “Sellers Market”. But that doesn’t have to stop you even if you’re brand new to the self storage game. If you know how to analyze...
Part 4: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
Welcome to episode four in the series “How to Analyze Self Storage in Today’s Market.” We’ve established that it’s an overpriced “Seller’s Market” and prices for facilities seem over the top expensive. Even crazy. But...
Part 3: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
We’ve established that we’re in an overpriced “Seller’s Market.” But you can still get in the self storage business today. You can still grow your self storage business today. But you have got to know what you are doing. You have got to...
Part 2: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
It’s hard buying self storage today. Prices are so high. It’s not impossible to find deals in a “seller’s” market, but it does mean you have to know what you’re doing more than ever. Welcome to the second episode of the series...
How to Analyze Self Storage Properties for Maximum Profit in a Seller’s Market
It appears as if the race to see how high self storage purchase prices can go has leveled off. But make no mistake, they are still high and I haven’t seen much of a reversal. It is still a “Seller’s Market.” Does that mean we should sit on the sidelines and wait...
Are You Asking The Right Questions To Build The Best Self Storage Strategy For You?
Welcome to the fourth and final episode of the series “The Complete Guide to Creating Your Self Storage Business Strategy.” We have been talking about the three aspects that determine our success in achieving any vision, or goal: 1). Mental state. 2). The...
Do You Have Old Stories That Are Sabotaging Your Self Storage Success?
Welcome to the third episode (of four) in the series “The Complete Guide to Creating Your Self Storage Business Strategy.” We have been talking about the three elements that determine our success in achieving any vision or goal: Mental state The stories...
The Reason Even the Best Self Storage Strategy May Not Be Enough to Get the Results You Want
Welcome back to the Complete Guide to Creating a Self Storage Strategy series. Episode 2 also happens to also be the 100th episode of the Creating Wealth Through Self Storage blog. The only reason there are now 100 episodes is because of you. Thank you for reading...
Is Your Self Storage Strategy Really Complete?
I talk a lot about a self storage strategy. My self storage business transformed when I got clear on where I was going, what it would look like when I was there, and what was missing for me to get there. Oh yes, and the most important part of the strategy, the...How To Create A Soft Landing And Not Pop the Self Storage Bubble
Is it possible to have a soft landing instead of a bubble burst in the self storage industry? This question presupposes that there is a bubble forming in self storage. That’s an easy assumption to draw if you’re counting the number of new facilities going...
Where Are We In The Economic Lifecycle Of The Self Storage Industry?
“Where are we in the economic lifecycle of self storage?” I get asked this a lot. Every business, every industry, every country (you get the picture) has a lifecycle. I have found it helpful to relate the cycles of a business or industry to a human life. In other...
How to Create Your New Self Storage Paradigm of Success
This is our last week in the True Wealth With Self Storage Series. So far you’ve created a new and powerful paradigm for yourself and you life. You completed a disempowering story about your relationship to money and success. You replaced it with a new, empowering...Your Belief About Money – The Key to the Art and Science of True Wealth With Self Storage
When getting in the self storage, or any new, business we often wonder why the same patterns are happening to us again. “I thought this time it was going to be different?” As I’ve said before, you can have the best self storage business strategy in the world,...
Is Your Story About Money Preventing True Wealth With Self Storage?
Most people in our world today have a weird relationship to money. Did you find out anything unusual as you answered the questions last week? If you didn’t read the beginning of the True Wealth With Self Storage Series last week, click here for last weeks’...
True Wealth Through Self Storage – It Starts With Your Relationship With Money
I start every video episode by talking about the self storage business as a way to create “True Wealth” and a fulfilling career. But what is “True Wealth?” It involves a lot more than just money. But, believe me, without money there is no “True...
Looking Back at 2016 and My Commitment for 2017
As we bring this year to an end, I just wanted to say another big “Thank You!” I appreciate all the feedback I received from last week’s post about the biggest challenges you face as you grow your self storage business. I want to make sure I’m providing content...
What Do You Need to Succeed in Self Storage Next Year?
I am very grateful for you. Yes, you. You who read and watch these episodes. You who have read the book, Creating Wealth Through Self Storage. You who have attended the classes I offer. Or purchased products I have created. Doing this work with people just starting...
My Top Strategy To Improve Your Self Storage Business Starts Tomorrow Morning
Want to have your best self storage year ever in 2017? If you do, it isn’t going to happen by accident. It will happen by design. The last two episodes I’ve discussed some very specific strategies to create a budget for your self storage facilities and a...
How to Set Your Self Storage Business Goals – and Why You Want to Do It Now
Why are you attracted to the self storage business? What fires you up so much that it drives you to do whatever it takes to start, grow or stay in the self storage business? It’s important you understand what your motivation really is for being in this business. ...
Creating Your Annual Self Storage Budget: Powerful Business Tool vs Hopeful Prediction
Most people’s relationship to language and the spoken word is very week. We haven’t really been trained on the true power the spoken word has to shape our experiences and our lives. This becomes very evident this time of year as we begin creating our annual self...
Self Storage Mis-Management Series: Why You Need to Treat Car Storage Differently
This week concludes the Self Storage Mis-Management series. Since it’s a holiday weekend I’ll keep it short and sweet! DO NOT treat storing cars or vehicles like household goods. There’s a BIG difference. You need to understand the difference in...
Self Storage Mis-Management Series: Top 2 Ways to NOT Get Sued
This is Week 3 of the Self Storage Mis-Management Series. In this series, I’m covering the five things NOT to do to keep your self storage facility running smoothly. In week 1 we covered the Serviceman’s Civil Relief Act. Last week we covered Creating a...
Self Storage Mis-Management Series: Can Good Customer Service Ever Be a Bad Thing?
Sometimes good customer service can really backfire! In the “Self Storage Mis-Management” Series, this is the second of the five top operational failures you need to avoid. I’ve learned this the hard way. Last week we discussed the first mistake to...
Self Storage MisManagement Series: 5 Operational Failures You Need to Avoid
You don’t know what you don’t know. That’s how self storage mismanagement often happens. Just as there are 5 things to keep your eyes on to build a great self storage business, there are 5 things not to do to keep that great business going. The next...
The Difference Between A Good and a Great Self Storage Manager
A few weeks ago, as I was leaving a challenging meeting with a real estate client – frustrated that I didn’t get the deal done – I got a call from one of our facility Managers. I immediately thought, “What now?” When I answered, she...
Self Storage Management Series – The Big Benefits of Tenant Insurance
There are few true win/wins in life, but “Tenant Insurance” is one of them. It has big benefits for everyone. In our main market, we have just recently been allowed to sell tenant insurance in our facilities. Before that, we could only give out information and hope...
Self Storage Management Series – How Retail Sales Can Increase Your Facility’s Value Exponentially
This week is the fourth week of “The Management Series” and the Key Performance Indicators (KPI’s) that every self storage manager should be tracking. “Our Managers relate to their job like they are running a store, not like a property manager”. I...
Self Storage Management Series – Why Payment Plans Lead to High Delinquencies
“I can tell you have a lot of customers on payments plans that are behind with their payments.” I was talking to the manager of a facility we purchased a few years ago. “How in the world can you know that?” they asked. “Easy, your delinquency percentage is...
Self Storage Management Series: Who’s Creating Your “Dollars Per Month?”
Last week was the beginning of “The Self Storage Management Series.” I noted that if you keep your eye (or your Manager’s eye) on five things you’ll do great in this business. Today I want to delve deeper into the first one: dollars per month....
