How a Management Team Can Help Your Storage Company Reduce Risk and Increase Revenue
Storage facility owners can streamline their business operations with the help of third-party management services. Self storage property management teams like The Storage Mall Management Company take on the responsibility of daily tasks and financial management to make the business more efficient and profitable for owners. Here’s more information about how our team can help your storage facility minimize risk and boost revenue:
Employee Services
Our self storage property management team creates employee schedules that optimize the number of hours employees work and how many employees are on-site at one time. This prevents overpaying for extra employees who aren’t required for the shift. We build effective schedules by comparing the facility’s hours and busy periods with employee availability and skill levels. If we notice a gap in employee skills, we will implement a training system to confirm all employees are receiving the same information and consistently representing the company in a positive way. This creates a more organized workspace and improves customer relations.
We implement accurate time-keeping methods, like online portals and other technology solutions, to confirm that employees’ worked and tracked hours align. This helps prevent financial losses and confirms your company and employees are compliant with working hour regulations. Purchasing employee uniforms or implementing an employee dress code is another way to reduce risk and financial loss within your facility. Uniform standards make employees easily identifiable and help them stand out from customers and unauthorized visitors.
Financial Management
The Storage Mall Management Company handles financial tasks like accounting, revenue management, record keeping, and auditing. We will create a budget for your facility and explore past spending records to determine areas for improvement. This helps reduce expenses and overhead costs, increasing revenue over time. To improve your business’s cash flow, we may compare storage unit rent prices at similar facilities to set competitive prices that are attractive to new and returning customers.
Daily Operations
Our full-service management team handles daily duties like collecting rent and fees from customers. We check units for occupancy and conduct auctions if a renter becomes delinquent. This helps your business maximize its profits by renting out as many storage units as possible. Before making any adjustments to the facility’s daily operations, we contact the owner for approval. While the owner no longer has to handle daily management tasks, they remain informed of all activity within the facility.
Strategy Maintenance
To maintain and increase a facility’s revenue and risk management, we track the financial and operational progress made over time. We regularly view financial records to determine ways to save time and money and how to implement those changes. We create reports on this information to give to the owners, keeping them up-to-date on the progress we’ve made with their facility. Monitoring the effectiveness of our management strategies allows us to grow and change with customer and industry demands, making your company more resilient.
Explore Self Storage Property Management Services
The Storage Mall Management Company offers comprehensive management services to help facility owners streamline their operations. We customize our approach to your business’s needs and adjust our strategies to changing market dynamics. You can schedule a video call with one of our management professionals to determine how we can minimize risk and increase revenue for your self storage business. Contact us today to receive a free quote and learn more about our third-party management services.