Announcement

Collapse

New Membership Approvals

Happy holidays! We're thrilled you want to be a part of Self-Storage Talk. Please be patient with us as the registration make take longer to process during this joyful time of year. We'll approve new accounts as promptly as possible. We thank you in advance for your understanding.
See more
See less

Incentive bonus?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Incentive bonus?

    My wife and I manage a new 423 unit facility that opened last August. When we opened the owners gave us a $ bonus for every unit rented. We discussed that once we were full we convert the bonus to something else incentive based since there would be few units left to rent. The owner challenged me to come up with a new incentive plan. We are currently over 85% occupancy and will probably be full by July so the time has come.... Anyone have any ideas. I would think something based on collections and cleanliness would be good but something out of the box could also be interesting. I appreciate any feedback we can get!
    Last edited by crsw2468; 13th June 2018, 02:34 PM.

  • #2
    We get a quarterly bonus based on how much better we did from last year and if we've sold half of our move ins, insurance.
    I want buns of steel.
    I also want buns of cinnamon.

    Newcastle, WA

    Comment


    • #3
      As someone who owns and manages, I would suggest setting a goal for maximizing rate increases and minimizing aging receivables. Box/lock/moving supplies sales are also opportunities for sales growth, but admittedly minor compared to the real answer which is add on to the property or find a satellite location.

      Steve

      Comment


      • #4
        I get one for paid occupancy.

        Comment


        • #5
          Maybe a bonus based on how many tenants you sign up for automated payment on a credit card, or number of leads actually converted to a tenant, or merchandise sales is also an idea.

          Comment


          • #6
            Y/Y increase

            Comment


            • #7
              I get 1% of the monthly total sales figure...lock sales, late fees, new rentals, regular monthly payments. If I've collected money for it, I get paid for it.
              Too many freaks, not enough circuses.

              Comment


              • #8
                Thank you all for your suggestions.

                Comment

                Latest Topics

                Collapse

                • pacnwstorage
                  Reply to Joking Around
                  pacnwstorage
                  He Loved Hearing His Own Voice
                  Ronald was sitting at the breakfast table one Sunday morning reading the USA Today entertainment section.

                  He had just read an article about a beautiful movie star who had announced that she was going to marry a football player, who was famous not only for...
                  Yesterday, 10:52 PM
                • bentsmom
                  Reply to Thanksgiving Week
                  bentsmom
                  We started a little early and held Customer Appreciations Days at our 3 offices this past Friday and Saturday. For two days we had snacks & refreshments for our customers. Saturday we held a drawing at each office for a gift basket worth $100.00 each. We did not get tons of people but anyone who...
                  Yesterday, 09:49 PM
                • Steve_hajewski
                  Reply to Need Help! Break Ins through building wall panels!!
                  Steve_hajewski
                  Lock the empty units. While yes, a person could rent a unit and eventually get into the neighboring one, you should at least then have a photo and scan of their ID which should be a pretty good deterrent. Plus, what they said above is good advice.

                  A person could assemble buildings with...
                  Yesterday, 09:30 PM
                Working...
                X