I just raised our rates after 3 years of holding steady. We have always been the low cost provider in our area and have had pretty good occupancy levels since we opened in 1987, although we are at a low point now. I often get people that rent from me that are sick and tired of getting their rent elevated every 3-6 months at the other places.

I was likely about 15% below the market on rent, so I raised my current tenants 10% and made it clear that they will ALWAYS be paying less than a new tenant that comes to the door for the same size unit. (It frustrates me no end that in the cell phone industry a new customer gets a far better deal than I do after being customer for many years.) Our current rates now are still less than anybody else, but only by a few dollars. Even at the lower rates my occupancy was down, so I'm confident the problem with occupancy right now is not price.

With the increase in rates, more than 20 tenants would have to move out to not show an increase in gross income. So far, I have had ZERO move out or notify me that they would be, they know I'm treating them fairly.

We are adding a free truck to the mix now, I have not ever felt that people decide on a facility due to price, they decide on convenience, amenities and the personality of the person that talks to them. That last quality is called salesmanship, and is hard to find. If people think you are gouging just because you can, they'll bolt....often times to my facility