The most important element of a tenant improvement project is the management company you hire to do the job. This fact cannot be fully appreciated until you have had the experience of hiring a contractor who did not finish a project on time or meet the expected standards. To make the right choice, look for certain qualifications and traits. If a project manager has the following qualities, tenant improvements should […]
Maintaining high occupancy rates at a self-storage facility is often a matter of finding the right customer niche. If your area offers little in the way of self-storage that caters to high-end clients, you may want to consider attracting their business. Rental values are higher, which could offset any necessary investments in your self-storage property. Security is the primary issue for those who keep items of great value in self-storage […]
Cleaning services are likely to be different for the foreseeable future due to the serious health threat posed by the new coronavirus dubbed COVID-19, and professional facilities management services can help. After following stay-at-home procedures, the expectations of workers returning to their places of employment will be heightened as far as cleaning methods go. With professional facilities management services that are pro-active and prepared to heighten disinfecting and sanitization practices, […]
Self-storage properties have consistently been good investments, and the industry is an easy one for new investors to get on board with. Low overhead, sizable income potential, and low costs for ongoing site management are among the reasons self-storage has appeal for investors. Nationwide, it is estimated that there are between 45,000 and 60,000 facilities. Read on to learn some of the reasons you can feel confident in self-storage as […]
Many companies hesitate to pursue commercial LED retrofit lighting as a capital improvement project, though the benefits far outweigh the burden of upfront costs. A switch to LED lighting delivers a high return on investment on multiple fronts. Read on to learn more advantages of adding an improved system of lighting to the interior and/or exterior of your business with an LED retrofit project. Energy Costs are Slashed Monthly lighting […]
In 2020, most consumers will find a self-storage facility via online channels, according to the 2019 Self Storage Almanac. This represents a change from walk-ins, the leading method to choose rental storage space up until 2017. Consumers have shifted to online shopping for just about everything. So, it should come as no surprise that self-storage facilities need updated websites to ensure they are found in local online searches. Tips […]
When you want to determine how a property management company is handling your commercial or residential properties, you can use key performance indicators (KPIs) to make an assessment. Property owners are known to monitor performance to determine how well property managers are handling and protecting their investment. Unless they are already operating as consummate professionals, it may provide motivation for property managers to put forth their best efforts if […]
Although the self-storage industry continues to have steady 7.7% annual growth since 2012, self-storage litigation is a potential drawback. A variety of legal issues can often catch self-storage owners unawares, which can be costly. With the right knowledge and follow-through to avoid liability, there’s every reason to cruise into the self-storage investment industry with confidence. Security The lease agreement presented for tenants to sign should be clear on the […]
Anything with the potential to disrupt the timeline for completion of your project is a risk, and professional project managers are experts at eliminating such disruptions as much as possible. It requires experience to identify potentialities and plan ahead in order to minimize cost. In essence, project managers proactively identify, categorize, prioritize, and plan for potential risks rather than taking the significantly more expensive approach of simply reacting to […]
The self-storage industry continues to thrive, though owners may find themselves in need of more effective marketing strategies to rise above the competition. Improving your profit margin could be accomplished with a fresh marketing campaign, especially if you have recent facility upgrades to publicize. Should your flow of ideas run dry, the following tips for marketing your self-storage facility may help. 1-Analyze Existing Data Any industry owner truly serious about […]
