A lot has changed since I first dipped my toes into the self-storage waters in 1995.

Perhaps the most interesting and fast-paced changes have revolved around tech innovations.

Not all tech innovations are right for your facility. I have often said that one needs to calculate the cost-benefit of any new tech that becomes available.

Will this innovation: 

• Help me rent faster?
• Reduce operating expenses?
• Increase income?
• Add measurable value to the facility?

 Then I weigh the cost of the tech against the benefits.

However, let’s look at some specifics and see how in recent years, the self-storage industry has witnessed a remarkable transformation with the integration of automation and other innovations. I will focus on what we have used and what I get the most questions about.

Some of these can revolutionize the way your self-storage facilities operate, enhancing convenience, security, and efficiency for both you and your customers.

Another consideration above and beyond the cost-benefit analysis is the customer experience.

Let’s explore some of the most exciting tech and innovations in self-storage that can help businesses stay ahead of the curve.

1. Automated Access Systems:

In the old days,  self-storage facilities relied on manual lock and key systems, which were prone to errors and inefficiencies.

Automated access systems emerged as a game-changer in the industry, providing secure and convenient access for customers while reducing administrative overhead for facility owners.

Today, one highly recommended product in this category is the “Smart Entry Systems,” which utilizes smartphone apps or RFID cards to grant access to customers, eliminating the need for physical keys or customers having to enter codes.

We have personally found that offering customers the option of utilizing “Smart Entry Systems” or just entering as code if they wish is the best for us. Companies such as PTI or Open Tech Alliance (as well as many others) can best help and advise you.

2. Smart Security Solutions: 

Security is a big concern for self-storage facilities and storage customers, and smart technologies have significantly enhanced their ability to protect customers’ belongings.

Video surveillance, motion sensors, and remote monitoring have become indispensable. This, combined with high-definition video surveillance with AI-powered (artificial intelligence) analytics to detect suspicious activities and send real-time alerts to facility owners, is the wave of the future.

The systems also can allow customers to monitor their storage units remotely through a mobile app, boosting their peace of mind and is a good marketing tool for higher-end customers or can be an add-on feature to increase your revenue. 

3. Smart Unit Access:

Efficient management of storage units can be a nice feature for maximizing revenue and optimizing operations. I have not sued this feature yet, but in high-end markets, I can see where it could be helpful in marketing. I would perhaps use it in a section of the facility to test, especially if I am phasing in some development.

Smart unit access usually allows customers to use their smartphones to unlock units, thus removing the need for keys and locks. It can be marketed as an enhanced security feature, potentially allowing for more rent.

There are also features for self-storage owners, allowing auto overlocks when the late pay grace period is over. Low voltage current can automatically overlock storage doors and automatically unlock them when the customers pay online or with their smartphone. This can potentially reduce labor costs for self-storage owners and enhance the customer experience of your facility because they have immediate access to the facility and their units when the payment is made.

4. Inventory and Asset Tracking:

If you have followed me for any time at all, you know I love selling retail items in self-storage facilities. It is one of the KPIs we track (key performance indicators).

Maintaining accurate inventory records and tracking assets within a self-storage facility can be a challenging task. Fortunately, most of the current operating systems we use to run our facilities allow owners to do great inventory tracking.

I am surprised that any owners I work with do not use this feature. It is not hard to use. One just enters the inventory as received, and as the product sells, the system tracks it and informs you when to reorder.

It will track your inventory, and we even have it show up on our balance sheets as an asset assigning a value to our unsold product.

5. Kiosk Or Online Move-Ins Instructions

Even though we have employees, we still utilize a kiosk at our sites.

Why?

Well, I want to be able to take money 24/7. I wanted the ability to move people in 24/7.

We also were able to reduce payroll because we saw on certain days of certain weeks of the month, little to no activity happened on site, so those days were devoted to marketing, or we had no one on-site.

The kiosk took their place.

Today you can even accomplish the same thing with a flat-screen or just a QR code and as a customer with a smartphone.

In conclusion, innovations in self-storage have transformed the industry, enabling us small facility owners to compete effectively with the big players.

When I started measuring everything around 2008, I saw our company generated about $250,000 of gross income per full-time employee. In 2019 when I sold the first brand I had been involved in, we were earning in excess of $350,000 per full-time employee. That increase was all due to the innovations we have been discussing.