When it comes to revenue management for your self-storage facility, there are a number of methods available. Some operators rely on their management software to adjust rental rates, while others prefer a more hands-on approach, applying a good, old-fashioned supply-and-demand formula. When you have a limited number of units in a specific size, it makes sense to charge more. The trick is to find the sweet spot that keeps inventory and price in right balance and generates the most income for your business.
In this thread on Self-Storage Talk, the industry’s largest online community, members are discussing how they determine their unit prices and their strategies for maximizing rental income. What’s your approach? Get and share pricing advice here!