February 15, 2024

2 Min Read

SpareBox Technologies, an affiliate of SpareBox Storage that offers a suite of self-storage management solutions, has revealed data from its 2024 technology survey. Conducted by Pinkston Research in December, the study gathered insight from 150 industry owners and managers, including independent and regional operators as well as real estate investment trusts, according to a press release.

The survey showed more than 90% of survey respondents agreed that new self-storage technologies will make their jobs easier and their businesses more competitive. Sixty-six percent said they are using some form of remote-management technology. Of the respondents who have not yet implemented technology, 40% cited installation costs as their primary hesitation, the release stated.

“It's clear there is an appetite for innovative technology in the self-storage industry, but there is still a barrier between what owners and operators want and what they think they can afford,” said SpareBox Technologies CEO Jackson Stevens.

Respondents were able to choose up to three answers for the question, “What are your primary [business] priorities for 2024?” Increasing revenue scored the highest at 49%, followed by improving occupancy rates (47%), reducing operating costs (47%) and investing in new technology (46%). Seven of 10 respondents believe they could be better at revenue growth, while half want to improve customer service and operational efficiency, the survey showed.

Survey participants were recruited from business listings and business-to-business survey panels, the release stated. The questionnaire was completed online, and the results have an 8% margin of error. They are available at spareboxtech.com.

SpareBox Technologies is a wholly owned subsidiary of Rizk Ventures, which was founded by Thomas Rizk in 2013. The company owns more than 26 million square feet of real estate across 314 properties in the healthcare, light-industrial, self-storage and suburban-office sectors.

Source: PR Newswire, The Future of Self-Storage Is Self-Service: New Survey Reveals 98% of Owners and Operators Either Use Remote Management Now or Want to in the Future

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