Tenant Bitterness and Backlash: Self-Storage Owner Shares His Take on ‘Teaser Rates’ and Price Transparency

Self-storage competition is fierce, and some facility operators are using aggressive discount strategies to lure new renters. The trouble is, tenants don’t always understand the terms; further, the business can’t afford to absorb the lower rate for very long. When the customer’s rent inevitably goes up (usually within the first 90 days), they cry “foul play.” Do they have a point? Jason Koonin believes they do. As the CEO of Bluebird Self Storage, which operates 25 sites across six Canadian provinces, and Sunbird Storage, a North Carolina-based property-management company, he feels “teaser rates” are damaging to the industry and suggests a better path that involves price transparency and a better brand reputation. Get his take in this video interview with  James McLean of Radius+, which was recorded at this year’s Inside Self-Storage World Expo in Las Vegas.