Smart Ways to Increase the Value of Your Facility
When you are a self storage facility owner, you quickly learn that the key to making money is to push the facility to be worth more than what you paid for it. There is a well-established formula for doing this. Here are a few of the top tips that can be applied to any facility. […]
Ask Scott: Estimated Expenses
“Hey Scott! When elevating Storage Units what rule of thumb do we use for estimated expenses? 50% rule? 60% rule because it is commercial? When calculating vacancy and bad debt, do these have rule of thumb too? Thanks!” Hello! An existing Facility that’s being properly managed should have an expense ratio of 32 – 35%, that is […]
Who is the Quarterback on Your Team?
Just like in football, there is one member of your team that is going to carry the game. Do you know who this is? Your manager! They are absolutely vital to the success of your facility and not having the right one can be detrimental. The importance of having a good manager cannot be overlooked! […]
Filling a Self Storage Unit: Think Vertical!
By using a storage unit, you can achieve maximum efficiency by reducing the amount of clutter in the home and in the office. Make the best of your off-site storage with by utilizing the following tips: Where to Put the Furniture The manner in which you arrange your belongings will be a direct impact on […]
Manage You Self Storage Investment with Care
If you are the owner of a self storage facility, you are one of the many who helped to break some industry records! With so much competition popping up, passive management is no longer an option! If you want to survive the boom in the industry, you are going to have to dig your heels […]