Contacting a management company can have a profound impact on the competitiveness and overall success of any self-storage investment. Management companies typically stay well informed with the changes of this dynamic market, reading trade magazines, attending seminars, speaking with other industry professionals, and constantly checking and tracking which operational items are consistently providing rentals to the sites they are contracted to manage.
Superior management companies also continually re-evaluate marketing budgets and monitor strategies they have actively placed in the local market to avoid funding advertising-type campaigns that no longer positively impact the facility’s bottom line.
When the Time Comes
If a storage owner feels an operational change is in need, or he’d like to be updated on the status of the current market, a management company could be the right move. The management company selected should be staffed with people who are willing and able to help a facility owner reach investment goals in the timeliest manner possible.
Overall, the decision and timing to utilize the services of any management company will be different for each self-storage owner. If you feel it may be time for you, shop for a company that fits your style of business. When you narrow the field, make sure your successful candidate can positively answer the following questions:
Is the management company experienced?
Does it have references from other self-storage owners or industry professionals?
Are questions and concerns handled in a timely manner?
Does the management company communicate well?
Do you feel comfortable with the staff that will be overseeing your location?
These answers will help you select a team of professionals that can help guide your self-storage investment. Whether you are new to the industry, experienced in the industry, need a break or just an operational tune-up, choosing the right management company can help you reach your facility’s true peak of success.
Tammy Ross is president of Cutting Edge Self Storage Management & Consulting in Salt Lake City. For more information, e-mail firstname.lastname@example.org; or call 801.273.1267.