3 Reasons to Use a Storage Property Management Company
Some storage facility owners need help managing their daily workload, especially for people with multiple properties who can’t afford to be hands-on. At The Storage Mall Management Company, we have a team of experts who can manage your asset and transform it into an efficient revenue stream. Here are a few reasons to use self storage property management services at your facilities:
1. Revenue Management
Collecting rent is the biggest responsibility of a storage facility owner, as you need to aim for consistent revenue growth. Revenue management involves much more than looking at competitors’ prices and matching their discounts and rates. We can create a strategy to help minimize move-outs and push your rates higher. The plan entails monitoring customer demand and market conditions and adjusting the asking rates to keep you relevant while maximizing revenue.
Our team can handle your business’s daily operations, including conducting unit auctions, collecting fees and rent, and communicating with customers. While storage unit software and online rent collection have automated the process, a self storage property management company supervises the process so that your funds arrive one time. If there are any issues with late or missed payments, our team will handle all the necessary steps. We will communicate with the customer to find an appropirate solution.
2. Accounting Services
Part of operating a storage business involves knowing how to calculate key financial metrics in a readable and concise way. These metrics include different tax forms and profit loss reports you’ll need to file. Accounting also involves daily reconciliation of deposits and reports and maintaining expense and income records through operating accounts.
We can help you track and manage finances efficiently and file all the required documents on time. Regulatory compliance involves accurate financial records that indicate payment deposits, late fees, merchandise sales, and revenue reconciliation. Our team will conduct regular audits and monitoring to identify financial discrepancies and confirm compliance.
3. Employee Services
Depending on your storage business’s setup, you may have to hire employees to handle the maintenance, security, or other jobs. A storage management company can offer services such as staff planning and scheduling, recruiting managers, and employee timekeeping. The Storage Mall Management Company can hire individuals to do these tasks and supervise their job contracts and performance. We know that each business is unique, and our team can create customized solutions to match your specific needs and help you achieve your objectives. Our team conducts regular visits to check for curb appeal, cleanliness, and document maintenance.
Contact a Self Storage Property Management Company
Choose a storage property management company with proven expertise in third-party management across different industries. At The Storage Mall Management Company, we use our expertise to help our clients adopt strategies that improve the profitability of their businesses. Our team uses analytical tools to provide data-driven insights for improved success and efficiency. We also answer any questions you may have and share ideas that can improve your business. Contact us today for solutions to help you explore new profitability methods through creative approaches.