Every storage facility has its challenges, but there are ways to increase occupancy. With the right strategies and a little luck, you can make your storage unit a profitable investment.
Reducing storage costs is a top priority for every storage facility, but increasing occupancy is even higher.
When it comes to getting more people to use your storage facility, there are a variety of strategies you can use. The great news is that most of these strategies are free.
Although this might not seem like a big deal, these strategies can significantly affect your facility’s occupancy rate. As a general rule, the more people who use your facility, the higher your occupancy rate.
For any business, occupancy is key. Your revenue will take a hit if your facility isn’t getting utilized to its fullest potential. It would help make your facility more accessible and useful to customers to increase occupancy.
Here are some simple ways to increase occupancy without spending a penny more than you already do.
Make your facility more desirable
One of the best ways to increase occupancy at your storage facility is to make it more desirable.
If you have a small, dingy building with little to no amenities, people won’t want to rent from you.
Most renters would prefer to go with a competitor that offers better perks. It might be a good strategy to invest in your property and offer more than just a place to stash away belongings.
Consider adding amenities like a play area for children or a community room. These features will appeal to families and might help them decide to rent from you instead of another company.
Make sure you offer the right size containers for your customers. Offering different sizes and weights will help you attract customers who need a certain type of container.
For example, if you don’t offer specific-sized containers, someone who needs one in between sizes may choose to go with another company because they don’t want to pay extra for an oversized container.
Offer storage options that are different from those typically found in other places. For example, a Modula warehouse solution has vertical lift modules that help modernize the storage facilities in a completely innovative way.
Get creative and find ways to increase occupancy by coming up with new ideas or partnering with other businesses in the area–for example, partner with restaurants or dry cleaners for added convenience for your customers.
If you know you have a particular area that doesn’t typically get rented, you can do a few things to make it more attractive.
For example, if the unit has no windows, add in some windows or lighting so people can see what’s inside the unit without opening the door. You could also put up decorations or add some color to the walls and flooring.
Offer flexible terms
Offering flexible leasing terms is one way you can increase occupancy at a storage facility. For example, if you offer leases of three months or less, people will be more likely to sign up since they won’t have to commit to a long-term contract.
Another option is offering flexible payment methods. It could allow people to pay for their lease in installments or by the month.
It will allow renters to pay for the cost of renting on their own time. Lastly, this saves them from having to come up with all the money upfront, which may cause them not to rent in the first place.
Be transparent with your costs
One of the tips to increase occupancy at your storage facility is to be transparent with your costs. It means that you should be upfront about the price of renting a unit, which will allow people to make an informed decision.
Once you have a potential tenant interested in your facility, you should present them with the cost and let them know what they’re getting for their money. It can help you weed out people who are not serious about renting the unit.
If you are unclear about renting a unit or what is included in the cost, ask other storage facilities what their prices are and then compare them to your facility. You may want to include amenities if you don’t already to make it more appealing for potential tenants.
Being clear about the costs and making some adjustments will likely go a long way towards increasing occupancy at your storage facility.
Provide great customer service
Good customer service is the foundation of any successful business. Your storage facility is no different.
Make sure you’re always friendly, courteous, and accommodating and that you’re striving to answer all questions as promptly as possible. Hire a professional to clean your storage unit every time it’s rented out so that the next renter has a clean space to work with.
You want your customers to feel like their renting from a business they can trust. You don’t want people to go to another storage unit because they didn’t have enough faith in yours.
You need to be proactive with the customer and make sure any issues are dealt with quickly and easily.
If you see a problem with a tenant or an issue with the property, you want to know as soon as possible so that it can be taken care of before it becomes a bigger problem. Windsor Storage has been providing self-storage facilities to meet your storage requirements.
Communication is key; always make sure your customers know what’s going on and that you’re doing everything you can for them.
Install security features
Installing security features is an excellent way to help your facility stay occupied. Tenants will feel safer and more comfortable, but they’ll also be more likely to sign a lease.
For example, if the property has security cameras, it removes the fear of being robbed or assaulted. A storage unit with good lighting and canvassed grounds also creates safety for your customers.
Upgrade your facility to provide better amenities and keep it competitive in the marketplace. You may need to renovate the site or update its equipment so that it can compete with other facilities in the area and attract more renters.
Provide incentives like a lower monthly rental rate for those who pay upfront or half off for first-time renters.
Offer discounts on packing supplies like tape or boxes to get people into the facility and start packing their items before leaving them behind on the street for garbage collection. It saves you time cleaning out abandoned units and helps to keep them rented out at all times!
Switch up your advertising by using different marketing strategies like print ads, TV commercials, and flyers handed out in public places near potential clients driving by your location.
The more effort you put into finding potential renters, the greater chance they have of walking through the doors of your storage facility.
Conclusion:
When it comes to maximizing occupancy at your storage facility, you have to do more than offer a place for people to store their stuff. With the right mix of features and amenities, you can make your facility more desirable for people looking for a home for their things.
There are several things you can do to make your facility more desirable (whether you’re a self-storage facility or a commercial storage facility), but the most important thing is to offer flexible terms and be transparent with your costs. And last but not least, make sure that you have security features in place.
