Description: Do you want to increase your self-storage business’s net operating income (NOI)? Watch our experts to get your questions answered about revenue management and how it affects your bottom line!
Date: April 14, 2022 Length: 01:09:25
Topics and Questions Discussed
1:10 What is the Storage Business Owners Alliance?
2:30 Introductions & Housekeeping
6:30 Meet the Panelists (See contact information below)
11:30 What is revenue management and why is it important?
16:10 How did Covid-19 affect your pricing strategy?
21:20 How often should you consider changing your rate?
22:40 Looking at competitors’ rates
28:13 What are key questions when vetting a management/technology company like StorTrack?
35:00 What’s your strategy for setting rates for new customers coming in?
40:45 Should convenience of the unit play a part in the pricing strategy?
45:05 Using value pricing programs
46:20 How do you train managers to deal with unhappy tenants due to price increases?
52:40 When to change your rate
53:50 Resources for good revenue management strategy
1:02:30 How to handle tenants that pay inconsistently
1:03:40 How to evict a tenant
1:06:45 Upcoming events and programs: https://thesboa.com/upcoming-events/