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Rental Rates on the Rise in California

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  • Rental Rates on the Rise in California

    New data from SpareFoot shows rental rates in California have increased more than 26 percent since 2014. You can read all the details on the ISS website. I'm going to bet California operators aren't the only ones enjoying higher rental rates since 2014. What's your take? Is your facility charging more these days?

    Amy Campbell
    Editor
    Inside Self-Storage
    amy.campbell@informa.com

    @AmyCampbell_ISS
    480.281.6091

  • #2
    We are. Have raised rents 2 times since then and we also raised the rents again on new move ins for our most popular size, 10x20. In my upscale neighborhood there are at least 15 upscale apartment complexes close by and they all have raised their rents. I know because my tenants come in telling me about it. We have not offered a move in special since 2013.
    "Never let the inmates run the asylum!"

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    • #3
      We raise ours every year both on current and new tenants. What gets very very old are competitors, pretending to be customers, calling wanting our rates. I'm happy to email them our rates at any time. I hate wasting my time playing the what are your rates game.

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      • #4
        We raised our street rates pretty regularly in San Diego. 'Keeping up with the Joneses aka, the neighboring facilities", doncha know. What I do know is the 4+ years I was there 10x10 upstairs units went from 90 to 150 (and are now $170). And all corresponding sizes went up accordingly.
        Why are I-phone chargers not called 'apple juice'???

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        • #5
          I have only 2 facilities in the area, a new one got built, that I can get their prices off their web sites if I want to. When a price shopper calls in I don't allow that and pin them down to a size.
          "Never let the inmates run the asylum!"

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          • #6
            just share your rates. We are in an industry that can all do some good by working together. We all know that slum facility that we send crappy tenants too... but wouldnt it be nice if we were a team and the people who shouldnt store just cant store? We shouldnt cut throat each other... so if your prices are higher, then tell everyone! they will likely raise their rates too, then you can raise yours again.

            Absolutely nothing good comes from looking at your competition like its your direct enemy.

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            • #7
              I shop my competitors but not so much for the rates but how they answer the phone and how many questions they ask the customers. I had one lady in a call center try to bully me into making a reservation. I to will share my rates and listen to them gasp because we are the highest prices and we can get that rate.

              My 5x10's are $118.00 and 10x10 are $201.00. We raise them every 9 months. I also refer tenants next door to PS and they refer them to me if they don't have any thing.
              Janice - Maxi-Space Storage and Business Solutions

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              • #8
                I wasn't clear enough. I don't have a problem sharing my prices with an identified facility but do have a problem when they are playing games to get the info and I always pin down the tenant. There is a detailed reason for why I do that with a tenant but have posted many times before why I do that. Not gonna type it all up again. If you are a facility, tell me that and I will email the list to you.
                "Never let the inmates run the asylum!"

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