Two things to tackle each month to stay hurricane ready June 1 marks the start of hurricane season for those working and living along the gulf coast. As a business owner or property manager, a lot of your time is likely spent preparing for hurricane season or for a specific storm when it heads your direction. In a special blog series, we are going to tackle hurricane prep in 6 […]
If 2020 taught business owners anything, it’s that they always have to be innovative. Maybe you’ve seen the “Friends” episode where Ross is trying to get a couch moved up a narrow stairwell. He keeps shouting “pivot, pivot,” with every turn. Well, 2020 was the year of the pivot. Every business had to pivot their operations to accommodate a rapidly changing set of rules and restrictions. It challenged all business […]
Whether you’re an owner/operator or a savvy, self-storage manager, keeping your property fully-leased is the goal. Even though most American self-storage businesses stay close to 90% full, it is important to leverage free marketing to keep it that way. Let’s take a look at four easy and free ways to market your business. You can incorporate one or all of them into your marketing strategy today. Facebook business profile Instagram […]
As a property owner or manager, you have a lot of tasks. One of the most important tasks is keeping tenants happy for retention. It’s often much easier to retain great tenants than to work at finding new ones. The past year has presented many challenges to small businesses. As a result, tenant turnover may be an issue you face now or in the near future. Let’s cover 5 ways […]
The sale of your self-storage business requires the same thoughtful attention to detail as when you acquired it. Originally, you considered the physical assets, number of units, amenities, and income potential. These items are still important to consider; however, determining the property’s value is where this process begins. Property Value Start your sale process by determining your net operating income. Your net operating income will determine the value of your […]
Whether you are new to property ownership or a seasoned professional, there is generally one goal. That goal is to generate income on the property. In order to do that, the place to start is with an experienced property manager. A property manager can make or break your financial situation in very little time if they are making mistakes. Let’s look at 6 simple mistakes to avoid. Property Management Agreement […]
As a property owner, you pay close attention to your income and assets. An annual preventive maintenance schedule helps you protect both. Any time of year is a good time to start if you don’t already have a schedule set. Since it is a new year now, we will discuss setting it up on a calendar-year basis. Starting in December, take some time to list out all maintenance needs and […]
A property portfolio can be simple or complex. Every property is unique. As a result, each property will have maintenance needs and features to consider on a regular basis. If you own multiple properties, this can quickly become a bigger task to manage than anticipated. Facilities maintenance software is a great tool to have. How do you find the best one? How do you find one that meets your specific […]
As with any business, there are highs and lows to consider. If you are new to this field, there are common mistakes to be aware of before you get your business into trouble. Even seasoned property managers can get behind on things that must be done if they have too much on their plate. Let’s look at 5 areas to help your business run smoothly, efficiently and effectively. These things […]
Making money may be the first goal of every entrepreneur. No one starts a business thinking they want to lose money. If that’s the case, the second goal would likely be making sound business decisions. Sometimes, that will lead you to sell your business. Regardless of the reason, selling your self-storage business can be lucrative and smart. It can also be challenging and painful. When the time comes to sell, […]
