How Can You Add Value to Your Self Storage Facility?

Commercial Real Estate Storage Investing

As a business owner, there is just something about increasing the value of your business that bring a special kind of joy. Maybe you are trying to increase business, or market appeal to sell. Or maybe, you just want the best business you can build! Regardless of the reasons, here are 10 ways you can increase the value of your self storage property.

  1. Site Maintenance- Is this something that you are staying on top of? I hope so! Ugly buildings won’t bring any customers. If anything, it may drive them away. In this particular area, you should really have high standards, that’s what will bring in top dollars. If you can do this while reducing expenses, that is GOLD. How is this done? Don’t overpay for work being done. Shop around and get at least 3 quotes.
  2. Marketing – Having a top notch marketing team, or at least one person who really knows what they are doing, will certainly make a world of a difference. You would be shocked how much of a difference 3 or 4 new leads will make in your profits!
  3. Curb Appeal – Visibly, this is the one that will be noticed the most. When people see your facility, it should invite them in. This can be done by making sure the grounds look nice with well kept grass, shrubs, and flowers. You will also want to make sure that your office, if there is one, is clean, bright, and welcoming. The facility itself should be presentable with properly working doors and a roof that is not leaky.
  4. Security – This one is HUGE. Tenants want not only for their things to be safe, but for themselves to be safe while on the property, too. This is done by having a properly working access system and functioning gate. You would also want to have appropriate lighting so nothing can lurk in the shadows. Security cameras are extremely advanced nowadays and can really go a long way in preventing any vandalism or other types of crime.
  5. Local Connections- Be visible! Don’t be a bystander in your community, but rather let them see you supporting charity, volunteering, and even hosting your own community event. This will make you approachable, and the first person to pop into their heads when they realize they need storage.
  6. Management- The kind of management a facility has can definitely make or break it. Make sure that the management team that you have builds your company up! They should be proactive in bringing in business, and keeping the clients that you already have happy. They should also spearhead your marketing and your site maintenance. They should know that facility like the back of their hand!
  7. Truck Rental – This one can be a bit more controversial. Yes, it is more maintenance to think about. However, not every family has access to a truck. Be their hero and have one available on site for them to rent!
  8. One Stop Shop – Along a similar line as the truck rental, have other amenities there that your customers may need. Have a spot set up where they can purchase a lock if they don’t have one. Have packing materials available, like boxes, tape, and bubble wrap. Another great addition to stream in some income if you are not climate controlled are the moisture absorb-er containers!
  9. Have a Variety – By this I mean of unit sizes. When it comes to storage, it is not “one-size fits all”. Have a variety of sizes! In addition to this, many facilities find success in offering parking for vehicles, boats, and RV’s.
  10. Be Real – Let your current and potential customer see you. Send out handwritten thank you or holiday cards. It’s little things that leave some of the biggest impressions on people.

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