Announcement

Collapse
No announcement yet.

2nd or 3rd Month for $1.00

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

  • 2nd or 3rd Month for $1.00

    Good day!
    I'm wondering how many of you offer a 2nd or 3rd month for $1.00?
    I've got a ton of empty 5x10 units but really don't want to offer 1st month free. Our competitor is offering the first month free , big box company.
    How effective is this promo for those that have used it ?
    TIA!

  • #2
    I had a similar situation in Dallas. I ran first full month for $1.00 and it went over great. The only issue I had was the people not understanding the offer signage. Some would come in with their stuff and $1.00.

    Comment


    • #3
      Originally posted by Bighank View Post
      I had a similar situation in Dallas. I ran first full month for $1.00 and it went over great. The only issue I had was the people not understanding the offer signage. Some would come in with their stuff and $1.00.
      If they perceive it they will believe it. That is why when someone calls for rates and availability at my facility I tell them "I am a full disclosure type of guy" and I tell them about pro rate in and also paying an extra month, admin fee and have to sign up for auto pay. Nothing worse than a prospective tenant at the counter that thinks they were told something is for free or for next to nothing and that is all there is.
      "Never let the inmates run the asylum!"

      Comment


      • #4
        We'd require them to pay the two months up front-so, a dollar, plus the second month's rent and the admin fee-and insurance if you require it.
        When I had all of my ducks in a row-I realized that most of them were not even mine!

        WA State

        Comment


        • #5
          I don't do first month free or $1 deals. You tend to get more people looking to store for that month and move out again or attract customers that can't afford to pay the rent next month when it's not $1 any more. Both of those end up losing you money in the end. I was offering a 4th month free promo at one point. Customer gets their discount and I get a customer that is sticking around for a little while.
          A lack of planning on your part does not constitute an emergency on mine.

          Comment


          • #6
            Originally posted by Merman View Post
            I don't do first month free or $1 deals. You tend to get more people looking to store for that month and move out again or attract customers that can't afford to pay the rent next month when it's not $1 any more. Both of those end up losing you money in the end. I was offering a 4th month free promo at one point. Customer gets their discount and I get a customer that is sticking around for a little while.
            I just had one today. "I saw your $1 move-in promotion"...Um, no we don't offer that here, never have, never will. They literally expected to move in with a $1 bill.

            Comment


            • #7
              I have had some prospective tenants call or show up about a move in special, we have no such thing. We do not run any move in specials. I ask where they saw the special and they tell me "Store and Lock" and I tell them we spell it "Stor & Loc". Not even the same address. I have even had them tell me they were going to report us to the BBB for deceptive practices. I shake my head and do a palm plant because we did not advertise anything at all so how could we be deceptive. It always makes me want to tell the snowflake to leave the office.
              "Never let the inmates run the asylum!"

              Comment


              • #8
                Originally posted by pacnwstorage View Post
                I have had some prospective tenants call or show up about a move in special, we have no such thing. We do not run any move in specials. I ask where they saw the special and they tell me "Store and Lock" and I tell them we spell it "Stor & Loc". Not even the same address. I have even had them tell me they were going to report us to the BBB for deceptive practices. I shake my head and do a palm plant because we did not advertise anything at all so how could we be deceptive. It always makes me want to tell the snowflake to leave the office.
                Lol, they don't get the deal they want and resort to threats. Like that's gonna work. If a customer shows me where we made a mistake, I will honor the deal. If someone comes in threatening me, we're done. Thank you, have a good day. Is the BBB even really a threat? As long as companies respond to the complaint, it's almost as if it never happened. I've seen many companies with pages of complaints still have an A+ rating.
                A lack of planning on your part does not constitute an emergency on mine.

                Comment


                • #9
                  A few years ago I had a lot of 5x10s I wanted to fill. I knocked $10 off the regular rate and advertised it on our website. We also had postcards made and did a mass mailing. I was able to fill almost all of the units this way. Almost all of those tenants who rented during that period have long since vacated, but there are 4 or 5 that are still here.
                  Too many freaks, not enough circuses.

                  Comment


                  • #10
                    I have a personal distaste for "new customer" deals. As a long time customer, shouldn't I get a deal? So we offer a buy 5 months get 1 free that is open to anyone. They need to be 5 FULL months tho, so if they are pro-rating their first month they need to buy 5 more full months upfront to get the 1 free.

                    Matt

                    Comment


                    • #11
                      At our other location, we have a ton of vacant 5X10CC. We do a special of pay 3 months up front, get 3 months free. That way, if they bail...it's most likely in their 3 free months. Most tenants end up staying for a year or so tho. Thankfully I don't have that issue here. Out of 557 units, I only have 27 vacancies right now. We do offer pay 6 months, get the 7th free and pay 12 months, get 13th month free. Some of my long time tenants utilize those "specials". Just remember, if you offer a $1 special or something, be sure to put it in the provisions in the lease. We use Blue Moon and can add it there before printing.

                      Comment


                      • #12
                        Originally posted by tonaselfstore View Post
                        I have a personal distaste for "new customer" deals. As a long time customer, shouldn't I get a deal? So we offer a buy 5 months get 1 free that is open to anyone. They need to be 5 FULL months tho, so if they are pro-rating their first month they need to buy 5 more full months upfront to get the 1 free.

                        Matt
                        We don't offer that here. I understand the logic to a point, but most likely that customer got a special when they moved in, so why keep offering specials? In our 7 years, we have never given a discount for prepayment. We don't need the money ahead of time, and it's just giving away money in my opinion. We stay full too, so maybe I'm just being greedy? I just don't see the need here.

                        Comment


                        • #13
                          We don't offer move-in specials either.
                          AmyLou

                          Comment

                          Latest Topics

                          Collapse

                          • Storman
                            Reply to monopoly from sitelink/sparefoot/StorEdge
                            by Storman
                            feels a little like Stockholm Syndrome. By feeding these aggregators we're hurting our own industry. In the name of possibly increasing occupancy percentage we're giving away a large slice of our income and future viability. Income that we as the business developers, owners and operators have taken...
                            Yesterday, 11:38 PM
                          • Merman
                            Reply to monopoly from sitelink/sparefoot/StorEdge
                            by Merman
                            I definitely had more rentals with Sparefoot. I was using Storedge as well. A big question to ask each person once the reservation comes in is how long they plan to store for. Each time a Sparefoot reservation rents for 1 month and takes off, you're losing money. I would politely decline those reservations....
                            Yesterday, 09:00 PM
                          • IceBox
                            Reply to monopoly from sitelink/sparefoot/StorEdge
                            by IceBox
                            Following up on this, just wondering if anyone is having success with Sparefoot/Storable Marketplace for renting up a new facility. It makes sense to try and be visible everywhere you possibly can be, especially for a newer facility or expansion, but I do see some of the downfalls:

                            A) sparefoot/storable...
                            Yesterday, 06:08 PM
                          Working...
                          X