Deciding on Discounts: Self-Storage Operators Discuss the Best Ways to Apply Rent Specials

Everyone loves a good discount, especially these days! Offering a promotion to entice new renters can be an effective way to fill your self-storage units, particularly spaces that are less desirable. However, applying concessions without a well-crafted plan could hurt your business financially. We all know it takes money to make money, but giving away too much revenue is never a wise business plan. A low price can also draw problematic tenants who fail to pay once their temporary rate is normalized. The decision to offer specials requires a careful look at your goals, physical and economic occupancy, competitor rates, and more. In this new discussion thread, members of the Self-Storage Talk online community have some pretty strong opinions on the topic. Read what they have to say about discounting, why it’s important to be smart about it, the types of specials that are the best to offer and why, and alternatives to slashing prices.