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Always protect upholstered furniture and mattresses with specially designed plastic covers or sheets and blankets. Even before any of the above comes into play, remember the first important decision is selecting the right size storage space, whether it’s an outside or inside unit, and so forth.  Be sure to use the guidelines for selecting a space that your local facility has. Connect With MMNKMMNK Housing SolutionsOur company works hard to offer a wide variety of residential real estate services and solutions! About MMNKOur Mission is to service our customers by creating and delivering a quality service, which is unique and valuable.
Our Mission is to create a unique service to meet their needs and deliver that service as efficiently and effectively as possible. Revenue management for self-storage facilities is ultimately comprised of two components: the price of your units and managing price increases under existing tenants. While many self-storage operators may set their own prices, the process of managing price increases remains an area that most operators overlook or aren’t doing at all. The current known industry standard is to increase rent on existing tenants by 7% every 9 months. For example, if you get 90% of your business from drive-in customers and rarely hear that your prices are too expensive, maybe it’s time to raise prices.
Raising prices can indeed seem tricky and a dangerous gamble, the greatest risk of all being that you may end up losing customers. Essentially, it could be better to wait for the customer who is less price sensitive and will take the more expensive unit. In another case, if you only raise the price of your 10x10s and keep everything else the same, people who aren’t price sensitive will definitely take a 10×10 unit.
At the end of the day, however, revenue management is an extremely tough process to do by hand, which is why Sitelink and other similar programs exist–they focus on changing prices based on occupancy at the unit level.
Welcome.The Storage Facilitator is the modern self-storage professional's destination for useful education, intriguing news, diverse expert perspectives, technology updates, and beyond. Get our free white paperThe Four Pillars of Profitable Self-Storage Management is an in-depth resource that empowers facility owners and managers to get more out of your business and stay ahead. The information contained herein has been obtained from third parties and we cannot guarantee the accuracy or completeness of the information. This is how your name and profile photo will appear on Panoramio if you connect this Google+ account. No matter whether your clients are storing their belongings for a few months or a few years, they’ll want to ensure their stuff is stashed in a clean, well-run, secure self storage facility. When your clients are shopping for self storage units, price is a key factor, but it isn’t the only thing they should look at.
As for the price of a self storage unit, don’t settle on a place without comparing costs for at least three facilities. Housecall is the official blog of RISMedia, covering real estate news and information for agents, brokers and their clients. Self Storage Units - Self Storage Units covers several topics you need to know when it comes to protect your personal or business belongings, check different types of units, self storage for rent, for sale, Associations, even auctions. Storage Units for Rent - Storage Units for Rent has useful tips about self storing, storage warehouses and facilities and how the process works, also links to several online directories for storage units in US, Canada, UK, Australia and Asia. Probably the most obvious consideration that is made when considering the profitability of a storage unit is the average rental vacancies available. Pre-finished steel buildings afforded this self storage owner a wide range of colors, with the added bonus of fast construction time and trouble-free maintenance, all at remarkably low cost.

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In the biggest self-storage deal so far this year, CubeSmart LP is buying three dozen facilities for $326.2 million from Private Mini Storage Inc.
The CubeSmart deal caps off a particularly active October on the acquisition front in the self-storage industry. The CubeSmart acquisition leaves Houston-based Private Mini Storage with five facilities, sources said.
CubeSmart is paying $257.9 million for 29 self-storage facilities in the Houston and Austin, TX, areas and one facility in the Charlotte, NC, area. CubeSmart is spending $68.3 million to buy six self-storage facilities in the Houston market. As described in a report from Bank of America Merrill Lynch analyst Jana Galan, CubeSmart has lined up an institutional investor to form a 50-50 joint venture that will be announced once the Private Mini Storage deal has been completed. The deal happened as CubeSmart prepares to release its third-quarter financial results (Nov.
According to a report from Macquarie Capital analyst Shahzeb Zakaria, CubeSmart outperformed the three other publicly trade self-storage REITs on two key measures in October: increases in occupancy and net rent.
CubeSmart’s 36-facility acquisition came at the end of a red-hot month for news about self-storage real estate deals. The price tag of the CubeSmart deal surpasses that of Public Storage Inc.’s purchase of 43 Morningstar Mini-Storage facilities for $315 million. Chicago-based Harrison Street Real Estate Capital LLC and Matthews, NC-based Morningstar Properties Inc.
Glendale, CA-based Public Storage, the country’s largest self-storage REIT, said in October that it had purchased or planned to purchase a total of 88 facilities in eight states: California, Colorado, Florida, Georgia, North Carolina, South Carolina, Texas and Virginia. In a report released earlier this year, market research firm IBISWorld said it expected merger-and-acquisition activity in self-storage to pick up during the ongoing economic recovery. Sonne said some real estate investors view self-storage as a “relatively safe” bet, thanks to a small pipeline of new development and strong growth in occupancy and income.
Kurt O’Brien, CEO of Simply Self Storage, bought three 21st Century Storage facilities—two in New Jersey and one in Maryland—for $21.3 million.
Austin, TX-based real estate investment firm World Class Capital Group LLC bought Memphis Mini Storage in Memphis, TN, from C-III Asset Management LLC of Irving, TX. The 474-unit, 60,000-square-foot facility is being converted to World Class Capital Group’s Great Value Storage brand. The 435-unit facility has been renamed South DeBary Self Storage, according to the Daytona Beach News-Journal. The new owner has kept Meridian Management Group as the facility’s manager and plans to spend more than $50,000 on property upgrades. And if they say a 5 x 5 unit is for a small one bedroom apartment, don’t think your years as a package handler at UPS in the mid 90s makes you an expert and you can fit your 2 bedroom apartment’s amount of stuff in there. If you’ve never had a customer call and balk at your prices for being too expensive, then maybe you’re underselling.
But if your customers are price sensitive, they may take another unit that’s cheaper than the 10×10.
But Keith wanted to remind operators that there are also some basic pricing tactics they can do on the fly.
This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management.

This matters most if someone lives in a harsh climate, such as a region with extreme heat or high humidity.
But there is strategic phone selling as well, and it is imperative that site managers recognize opportunities to use it. Many Braemar Building features, such as timesaving erection points, are hidden within the solid frame structure of this attractive and economical self storage facility. According to the most recent listing from Inside Self-Storage, the full 41-facility Private Mini Storage portfolio had about 20,300 units totaling 3 million square feet.
The Public Storage deal, first reported by The Storage Facilitator, was announced in October. Problem is, there’s not enough product for sale,” said Chris Sonne, executive managing director of the Self Storage Industry Group at commercial real estate firm Cushman & Wakefield. Now, with the improving economy, that growth is returning, and North Lanier will benefit immensely from that activity,” said Judith Bennett, senior vice president of Bull Realty’s National Self-Storage Group, which brokered the deal. He first moved to Austin in 1999, when downtown Austin wasn't nearly as lively as it is today. And while this little nugget of wisdom is useful, it’s hardly easy information to acquire by an individual facility–you may know your own occupancy, but not those of your competitors. In extreme cases, you’re turning the customer away and putting them somewhere else–but don’t forget that you have a range of products, and that a lot of them are interchangeable. If someone shows up at your facility with no other storage options, for example, he suggested charging them the full amount. For instance, some storage facilities have interior walk-up units, while others have exterior drive-up units.
Chances are a client won’t want to make a 10-mile trek every time he or she needs to put something in or take something out of a storage unit.
A 10x10 can fit the contents of a one-bedroom apartment, while a 10x20 can fit the contents of a three- or four-bedroom house. Your client probably will want to look elsewhere if a facility has garnered a bunch of poor reviews. Securities and Exchange Commission (SEC), the self-storage REIT said it signed agreements Oct.
CubeSmart will reap management fees on the 50 percent of the portfolio owned by the unidentified investor. They work with advanced statistical models, something for which most self-storage operators have neither the resources nor time. As such, most facilities will manage their businesses until they’re at 70% occupancy before beginning to think about revenue management and raising prices. Wayne, PA-based CubeSmart owns or manages more than 500 self-storage facilities in the U.S.
All 36 facilities fall under the Private Mini Storage brand, industry sources told The Storage Facilitator.

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Author: admin | 14.12.2013 | Category: Small Sheds For Sale

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