Webinar Recap: Optimizing the Slower Season with Facility Upgrades

Webinar Details

Description: Depending on where you are geographically located in the U.S. can dictate your slower season. This is prime time for owners and operators to tour the facility(s) and identify maintenance issues and necessary upgrades. Learn from the experts as they discuss key areas of facility maintenance and potential CAPEX projects to enhance your asset(s).

Date: January 6, 2022 Length: 1:01:02

Poll Questions & Responses

Do you have a maintenance budget for each location?

YES 67%

NO 23%

What is your typical annual budget per facility for service & maintenance?

YES 100%

Do you have a maintenance person or team who are able to complete projects?

YES 25%

NO 75%

How do you go about finding professionals to service your locations?

INDUSTRY SPECIFIC ORGANIZATIONS (LIKE SBOA OR THE SSA) 75%

SOCIAL MEDIA 25%

Topics and Questions Discussed

2:21 - Introduction & Housekeeping
9:47 - Panelists Introductions
17:38 - What is Capital Expenditure?
19:27 - How should self-storage owners/operators & managers go about evaluating the property and prioritizing some of these projects from a budgeting perspective?
22:35 For an ownership group, do you think it's better for them to put aside a set amount per month for the capital expenditures or a percentage that fluctuates based on what's going on in the buiness during that time?
25:30 What does it look like when you're evaluating projects per square foot?
26:20 When someone is looking at the major mechanicals (HVAC, unit doors, etc.), what does the formula look like for reviewing the life expectancy and creating a monthly reserve fund?
28:47 - How does a company like Blink Signs work with owners/operators that weren't prepared for a natural disaster that damaged their property?
31:26 - If you don't have people in place to handle CAPEX projects, what does the process look like for outsourcing a company?
33:12 - How do you make sure your teams are responsive and available?
35:35 - What do you think the biggest headache is in terms of service or maintenance for owners/operators?
39:25 - What do you recommend that owners/operators are doing for their self-storage property in terms of security?
42:15 - What are some tactics and tricks for curb appeal for self-storage properties?
46:37 - Discussion of property signage, business swag items and curb appeal.
53:20 - What kind of compensation do you offer tenants when maintenance issues occur?
55:44 - The self-storage industry has become more specialized over the years. How do you go about selecting a vendor?
55:44 - The self-storage industry has become more specialized over the years. How do you go about selecting a vendor?