Strategies for Increasing Storage Unit Occupancy

Increasing your facility’s occupancy begins with a clear storage unit property management strategy. There are many resources and training opportunities available, depending on your goals. At the Storage Mall, we offer tools that can support your long-term property management objectives.

Growing Storage Unit Occupancy

The self storage industry is constantly changing, so being aware of those changes should help inform your strategy. Here are a few ideas that can help you increase your storage unit occupancy:

Providing Comprehensive Employee Services

Keeping customers satisfied is key to influencing storage unit occupancy rates. When store managers and employees are adequately trained, they can become more confident and engaged. Equipping your operation with the tools to handle customer issues and concerns leads to positive customer experiences, which in turn improve your storage unit property management capabilities.

Streamlining Daily Operations

As our team at The Storage Mall collaborates with store managers, we strive to maintain open and effective communication with them. Doing so helps us make informed decisions that benefit customers, leading to a happier customer base and higher retention rates. Daily tasks include answering renter questions and conducting unit auctions.

Managing Revenues

Our team collects rent and fees and adjusts a facility’s rental rates based on such factors as demand and vacancy rates. If renters are leaving, we may lower rental rates to attract more reliable tenants. This helps to keep a steady stream of renters at your facility.

Promoting Proactive Maintenance

There is another, less direct aspect of increasing storage unit occupancy. Mitigating risks by keeping your facility clean, safe, and well-maintained can eventually attract more customers and optimize occupancy rates. Proactive maintenance services involve cleaning your unit to keep it free of mold, pests, dust, and dirt. A well-maintained self storage unit receives more positive reviews, which can also lead to increased unit occupancy.

Optimizing Storage Unit Property Management

Training from The Storage Mall team also includes teaching store managers how to align themselves with the changing demands of the industry and adapt to fluctuating marketing dynamics. We do this in several ways:

We incorporate data-driven analysis to identify the most valuable budgeted expenses and pinpoint resources for customer acquisition, specifically advertising and marketing, to help increase your reach.
Our systems provide daily reports and deposit reconciliation, as well as monthly audits. Other reports include metrics for growth and monthly financial statements to compare budgeted expenses with actual expenditures.
An annual review identifies areas of growth by verifying the previous year’s income through revenue reconciliation.
Knowledge of the market can help position your storage services at the correct price point to attract customers and increase profits. We achieve this by evaluating regional metrics that reflect the market’s current climate to determine optimal rates.

Work With Storage Property Management Experts

Keeping customers satisfied is an integral part of optimizing your self-storage property management business. Doing so can also put you in a better position to attract new renters and improve your occupancy rates. Our rigorous auditing and financial controls are designed to help self-storage businesses enhance credibility and foster customer loyalty. If your property is currently experiencing high vacancy rates, please feel free to contact us at The Storage Mall today.