Guest Post: Raising Value At Your Facility By Kevin Rollings

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    Minico2The last 10 years have been a very interesting time in self storage. Our business has been evolving more over that time than at any other time. Keeping up can be a challenge and you have to change your game plan for today’s market.

    Just increasing your bottom line can be simple and remember that equals greater facility value too. This is a business that needs management involvement to grow and profit. How do I grow that bottom line? Creativity and attention seem to work the best for me.

    Investors today seem to look at several things: location, income and expenses, local market and history. Most potential customers are conservative especially given the state of today’s economy. This means a property needs to be bought right. If you are selling, decreasing expenses and increasing income allow you to achieve a better sell price.

    How do I raise value? Curb appeal. This does not have to be an expensive endeavor either. Some paint, flowers and a well groomed facility will do the trick. Making it noticeable to drive by traffic will usually equal walk ins. Another benefit, if you raise rents it is easily justified with the improvements you are making.

     Cut your expenses. Too many folks are still using print advertising. Talk about no boom for your buck. The internet is the way to go. But you have to ask yourself these questions: Can I be found on the first page of google when they type in facility name your town, is my site up to date and how much does this cost me. Initially there is a bit of expense to get up and running. Maintenance to your site is very low cost after the initial set up. More expense to cut? What about credit cards? Have you shopped your account to see who can give you the best rates and fees? What about your property taxes? This can be a drawn out process but the end is worthwhile. Usually can be a major savings.

     Do you have units that are vacant? Rent them at a discounted rate. After all, 10.00 bucks a month beats 0.00 a month. Stipulate a period of time when the regular rate will take effect. Most will continue to stay because of the convenience.

    These are just a few things you can do to increase your facility value.

    About Kevin Rollings & Self-Storage Facility Management

    Kevin R. Rollings is a Teacher, an Owner and an Operations Manager for Self-Storage Facilities! Kevin has over 25 years rental experience at various levels of management and ownership in the rental niche.

    Kevin was the regional supervisor for Scott Meyers, the past owner of Alcatraz Storage’s in the Indianapolis Greater Areas. Kevin was often a speaker at Scott Meyer’s Self Storage Academy as the key speaker for Management 101 and for Self Storage Auctions. His wisdom and excitement for the industry lead Kevin to purchase Alcatraz Storage in Brownsburg, Indiana, moving him from a once manager to a current owner!

    For more information, please visit: https://selfstoragefacilitymanagement.com/

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