A critical component of any self-storage facility’s success, collections should be consistent, fair and easy to execute. A self-storage operator’s collection process should adhere to city and state laws, and managers should have a full understanding of all auction and lien statutes. A good self-storage collections procedure helps managers more efficiently and successfully recover rent from past-due tenants and adds facility revenue.
Resolutions Are Great ... What Are Your Actual PLANS for Self-Storage in 2012?
Without blinking, we've landed smack dab in the second week of January. Many of us have made resolutions regarding our businesses in 2012. But realistically, what are your plans for your self-storage operation this year? Making a decree is one thing; establishing a strategy ...More
Self-Storage Collections: Making the Dreadful Task Successful ... and Pleasant
Let’s face it, collections will likely never be a favorite part of a self-storage operator's job. Unfortunately, it’s a must, much like cleaning gutters or enforcing the no-smoking rule. However, having a plan in place and developing collection skills can make the job a ...More
Past-Due Rent in Self-Storage and Its Effect on Facility Sales: Who Keeps It? Buyer or Seller?
Consummating a self-storage real estate deal is tough. Besides agreeing on the most salient transaction terms such as price, earnest money and financing, there are less prominent details to sort out, such as the issue of past-due rent. Here are a few approaches to resolving ...More
Self-Storage Rent Collection: A Guide for Facility Managers
Delinquencies and collections are a challenge for all self-storage operators. The keys to managing these tasks and minimizing problems with non-paying tenants are prevention, consistency, communication, courtesy and persistence. The following tips will help facility ...More
Litton Presents Free Webinar on Self-Storage Collections and Auction Techniques
On May 11, 1 p.m. ET, self-storage industry expert Tom Litton will present a free webinar on “Effective Collections and Auctioning Techniques” for facility managers and owners. ...More
Entrepreneur Launches Self-Storage Collections Company
An entrepreneur has launched a collection company focused on helping self-storage operators collect delinquent rent and avoid lien sales. ...More
Inside Self-Storage World Expo’s Premium Package Offers the Best Attendee Value
Industry professionals planning to attend the Inside Self-Storage World Expo, March 14-16, in Las Vegas, can save big on the show’s education offerings by purchasing the Premium Package, which includes access to 36 seminars as well as a choice of two specialty workshops. ...More
Self-Storage Customer Privacy and Policies
Where do we draw the line between privacy and customer service? It seems self-storage managers struggle with this issue almost daily. ...More
I Hate Making Collections Calls! Self-Storage Managers Learn to Be Good at Rent Collection, Even When They Don't Like It
Few self-storage managers actually like making collection calls. Luckily, the skills necessary to be a great self-storage manager with highly effective collection abilities can be learned using proven techniques and systems. ...More
Litton Presents Webinar on Self-Storage Auctions and Rent Collection, April 7
On April 7, veteran self-storage professional Tom Litton, owner of Litton Property Management Inc., will present a free webinar titled, “Innovative Auction & Collection Techniques,” open to all self-storage facility owners and managers. ...More