Over the last few years, self-storage has become a booming business, offering companies and individuals a space to store their belongings in a safe and secure manner. This can be a time-consuming process, which is why many businesses rely on self-storage management companies to take care of the busy work. This includes handling day-to-day operations, maintenance, security, marketing and local outreach, financial management, customer service, legal compliance, report generation, and much more.
Functions of a self-storage management company
Operations and maintenance
From regular cleaning to scheduled maintenance works, multiple things need to be handled daily at a self-storage facility. Onboarding a management company can help streamline these operations, and create a more positive experience for both the owner and the renter.
Handling rental agreements
Running a self-storage facility also requires owners to look into creating and maintaining leases and contracts, and following up on payments. This work can simply be outsourced to a self-storage management company, which will take on the responsibility of getting in touch with potential clients, managing their rental agreements, processing payments, and managing billing.
Security
At any rental unit, safety and security are major points of concern for renters. The management company can also implement security measures to keep the premises and stored materials safe from natural elements and miscreants. This is done by setting up surveillance systems, access control, and alarms throughout the facility.
Marketing
As with any business, expanding presents a significant challenge to owners. Some management companies offer marketing services that can help businesses reach out to new clients via social media, websites, online and traditional advertising, and other concentrated efforts.
Managing finances
To make profits, one needs to pay careful attention to expense tracking, budgeting, and overall revenue management. This, too, can be taken care of by a self-storage management company. From checking existing contracts to keeping up with competitor rates and standings, the company can take care of every aspect of financial management for one’s business.
Customer service
To completely take away the frustration of administration, these companies are also equipped to fully handle customer service, from organizing walk-throughs to addressing customer complaints. The employed staff is completely trained in areas like customer service, operations, and security protocol to ensure that the business runs seamlessly and that any issues are addressed promptly.
Legal compliance
Government and industrial regulations are also a major part of owning and operating a self-storage facility. Hiring a management company to take care of these aspects can help ensure compliance, prevent legal issues, and keep the business safe.
Report generation
If needed, the management company can also provide daily reports about the functioning of the facility, the effectiveness of its marketing efforts, and issues that arise on the way. These reports are essential in making well-informed decisions for the future of the business.
Tips to choose a self-storage management company
Given that the self-storage management company will be responsible for running the facility, owners must exercise caution while picking one.
Understand business needs
Think about what the business truly needs. Start by narrowing down the list of services one requires, the amount of help needed, growth and scalability, and even the possibility of implementing storage rental software. After outlining these requirements, start looking for self-storage management companies in the area that offer the preferred services.
Research
After a preliminary search, it is important to get to know the company better. After all, they are going to be involved in one’s business. Conduct an evaluation or audit of the companies one finds, and read through client testimonials and reviews on their website and social media profiles. This will help one identify their strengths and weaknesses, and get a better understanding of how they interact with their clients. It’s best to find a self-storage management company that has ample experience in the field and is equipped with the right capabilities and knowledge for the job.
Compare
Don’t be in a rush to sign a contract with the first company. Instead, compare plans, services, costs, and reputation of different companies. Then, narrow down the list to three to four providers and conduct a deep dive into each service provider, carefully looking at the service contracts each of them is willing to offer. Evaluate all of these factors before choosing a company to improve the chances of success.
Popular self-storage management companies
Storage facilities are available in most parts of the country. Given the demand, management companies have also increased their operations and can be easily found in most major cities. One can choose from some of the most popular self-storage management companies.
- The Storage Mall
- Bluebird Storage Management
- Extra Space Storage
- CubeSmart
- Storage Asset Management (SAM)
- Public Storage
- U-Haul International
- Argus Professional Storage Management
- StoragePRO Management
- Absolute Storage Management
That being said, not all business owners may be comfortable with hiring a management company to take care of their facility. In such cases, it may be worthwhile to consider introducing technology to one’s unit in the form of features like electronic/keyless entry, remote security, etc. One can also hire leasing agents, accounting, finance, and bookkeeping professionals, managers, and security personnel to help run the place more efficiently.