Self-storage operators often present their automated payment option, aka autopay, to new and existing tenants as the “no-late-fee guarantee”—meaning, those who sign up never need to worry about missing a payment and incurring that dreaded expense. Sounds great, right? Still, the conversion rate isn’t 100%. Some customers simply won’t get on board, either because they don’t have a debit or credit card, or they won’t trust the number to the business. Many managers now wonder, should I require it as part of the rental?
In this thread on Self-Storage Talk, the industry’s largest online community, members compare their autopay commitment numbers and share ways to encourage enrollment. What’s your percentage, and what strategies do you use to ensure participation? Jump into the discussion and add your comments!