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A Blog by the U-Haul Self-Storage Affiliate Network

Storage Facility-Performance Checklist

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Just like your car, your self-storage business needs periodic checkups to maintain optimal functioning. For that reason, here is a Storage Facility-Performance Checklist that every self-storage facility owner should review weekly. Because of that, keeping an eye on the metrics in the Facility-Performance Checklist will help maximize efficiency. Here are all of the essential metrics:Storage Facility-Performance Checklist

Move-In/Move-Out Activity

It’s important to keep a record of all the move-ins and move-outs. As a result, you will ask yourself the following questions as you keep track:

  • How many new leases were signed each month?
  • Do the numbers match up to my expectations?
  • How many tenants moved out of their units?

Current Occupancy

As a business owner, you must always check the availability of your storage units. Your business is centered around spacing, available units, and securing them at the right time. For that reason, here are a few pointers to keep in mind are:

  • How many units are being rented?
  • How many units are available?
  • Do you need to reconstruct or uncombine larger units into smaller units to multiply space?

Staffing

To run a successful storage business, you need to have efficient and ample hands doing the job for you. Therefore, you’ll need to ask yourself:

  • Do I have a good team size to achieve quality work?
  • Does each employee I hire have a professional appeal and a positive aura?
  • Am I utilizing a contact center for after-hours convenience?

Discounts

Often, it is not easy to calculate discounts on a unit. Because of that, it takes time and effort to discover, fix, and justify your possible discounts regarding profits earned. As a result, you might face some tough questions like:

  • Is it worth granting discounts for growing occupancy?
  • What are my end results?
  • Tenants should be given how many discounts per month or per quarter?

Revenue Collected

This is the overall evaluation of your self-storage facility business. Hence, you will want to ask yourself the following questions:

  • How does the cash inflow compare to the past month, quarter and year?
  • How does that number compare to my budget?
  • Is this a good time to make a rate change?

Online Presence

Finally, because we’re in the digital age, your self-storage facility is expected to be well represented online. You’ll certainly want to ask yourself these questions:

  • Do I have a strong online presence?
  • Is my facility’s website mobile friendly?
  • Can my customer rent or reserve a unit from their phone?

Above all, by using this Facility-Performance Checklist, you can champion your self-storage business like a pro! As a result, you’ll be able to earn real profits with some thoughtful yet straightforward and wise calculations. Finally, if you would like to learn more about how to integrate many of these items into your self-storage business, visit webselfstorage.com.