How to Price Self Storage Units Based on Features | Webinar Recap

How to Price Self Storage Units Based on Features | Webinar

How to Price Self-Storage Units Based on Features

Find out how tiered, feature-based pricing works, why it increases your customer base and revenue, and how it affects the tenant mindset.

Date: February 23, 2023               Length: 00:57:39

Topics and Questions Discussed

00:00:00 Intro
00:00:42 Housekeeping & Introductions
00:01:28 What is StorTrack?
00:02:47 Ahmet Kuyumcu, Prorize
00:04:00 Bret Schobel, Storage Asset Management
00:04:54 Jody Burks, StorTrack
00:06:58 Raheem Amer, Mini Mall Storage
00:08:00 Good, Better, Best Pricing
00:10:32 Inflation-sensitive pricing options
00:11:35 Value-based segmentation
00:20:05 Value pricing increases
00:21:51 The automated process of and training for value-based pricing
00:24:10 How much should the price difference be between a new unit and an older unit?
00:25:56 Learning more about your competitors to help with pricing
00:32:53 Dynamic pricing and automation
00:35:23 Anchor by starting with the highest value unit
00:39:00 Self-storage website builders with value based pricing
00:40:24 What does Prorize do?
00:41:15 Value pricing and rent increases
00:42:08 How to benchmark tiered rates shown to competitors?
00:44:12 What is the percentage of units that should be Good/Better/Best?
00:48:39 Self storage technology and value-based pricing
00:50:45 3-D mapping websites for self-storage
00:54:13 Closing Comments and Upcoming Events

Important Links

How to Price Self-Storage Units, Based on Features - Panelists

Raheem Amer
Mini Mall Storage

Bret Schobel
Director of Revenue Management
Storage Asset Management

Ahmet Kuyumcu, Ph.D
Founder & CEO
Prorize, LLC

Jody Burks
Business Development Director

SBOA self storage business

Jessica Johnson
Vice President

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