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5 Ways to Make and Save Money With Your Self-Storage Management Software

Self-storage management software isn’t just a tool to help operators run their facility, it should be an investment with a tangible return. Here are some features found in most programs that you can use to maximize profit.

October 7, 2014

4 Min Read
5 Ways to Make and Save Money With Your Self-Storage Management Software

By Kevin Kerr

Self-storage management software isn’t just a tool to help facility operators in their daily operation, it should also pay for itself. Your software should be an investment with a tangible return. Here are some features found in most programs that you can use to maximize profit.

1. Rate Management

This should be an obvious one. Reaching your facility’s maximum earning potential starts with adjusting your rates properly. Most software programs provide you with a rate-management system that will automatically change the prices on your units depending on your preset guidelines.

For instance, if you notice the majority of your move-ins are on weekends, you can automatically set your rates to increase by a set amount on Saturdays and Sundays and decrease back to the original rate on weekdays. If your facility operates at a steadily high occupancy, maybe you’d like to set your move-in rates to increase once you’ve reached 80 percent. The software will automatically make these increases and then adjust back to the original rate when your occupancy has dropped below your set limit.

2. Go Green!

In this day and age, it’s almost too simple to go green. Using your software’s e-mail function to send your customers receipts, invoices, lease agreements and other documentation is just as beneficial to the environment as it is to your business. Not only does your facility have the benefit of saving on resources, your customer's will have a reference for their transactions available to them online at any time.

Online payments and reservations are another helpful way to increase your revenue while being eco-friendly. Essentially, there’s nothing stopping you from making money around the clock while keeping your facility free of paper costs!

Do you crave freedom from the endless stacks of paper reports? Many software programs include a deluxe reporting suite that will automatically e-mail any of its reports or a large group of reports to whomever and whenever you want. When it comes to end-of-day reports—and the even more mountainous end-of-month reports—using simple methods such as e-mail can really prove to be a valuable tool.

3. Time Is Money

Never has a truer phrase been spoken. While saving time’s value is a little harder to quantify, it will unarguably save you oodles of money as well. Using simple screens in your software such as “quick view” will instantly give you a glance at your operation’s daily to-do list along with a list of late tenants, contact leads and a simplified view of each day’s transactions.

Saving time using hardware is another important factor most operators neglect. For example, the average operator will spend up to 30 minutes on a single move-in. Using a customer-access terminal can drastically reduce the amount of time spent inputting information by reducing it to the mere swipe of a customer’s driver’s license and credit card. Built-in integration for hardware such as kiosks, combo scanners and fingerprint readers is offered by many of today’s management-software vendors.

4. Customer-Relationship Management

Customer-relationship management (CRM) is one of the most important tools at your disposal. Even if you’re adjusting your rates, saving on costs and managing your time well, it won't matter much if you don't have adequate occupancy.

Your software’s CRM tools should ultimately increase your potential revenue by turning your prospective leads into reservations and your reservations into rentals. You can accomplish this by using reminders, setting notes and alerts, scheduling important follow-ups, and generally keeping on top of your leads and customers from within your software.

5. Information Updates

This is where some software companies fall short. Ideally, your software should include a feature that will automatically update a customer’s expiring credit card. This is extremely valuable for every facility, as it prevents you from having to chase down customers’ new information. It can also have a huge impact on your monthly revenue, as a declined credit card is never a good thing.

There are many options already built into your self-storage management software that can help you maximize facility revenue and save money. If you’re not sure what tools your program offers, talk to your vendor and start saving today.

Kevin Kerr is the director of sales and marketing for Storage Commander, a Murrieta, Calif.-based supplier of facility-management software. To reach him, e-mail [email protected]; visit www.storagecommander.com.

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