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Vision for long term tenants

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  • Vision for long term tenants

    Hello all,

    I have been in storage for quite some time. I am noticing that a lot of storage promotions and owner's focus is on obtaining new tenants. Everything is aimed at them. My question or discussion is about what we can do for long term tenants who have been there a long time. I understand we offer certain prepayment specials and blah blah but what do we do for tenants that have been there for 5 years instead of giving rental increases? If we really think about it, self storage marketing is about getting people to trust the name. By ignoring the need to show appreciation, they will not feel connected to the brand. What are some things you guys do to thank your tenants from a promotional/discount stand point as we do with new tenants? Free donuts and water only goes so far.

  • #2
    Rent increases are a fact of life-as long as you keep them below street rates it usually doesn't cause them to move out. Definitely offering pre-pay incentives is a great way to smooth ruffled feathers. If you've been doing regular-ish rent increases then you've already got them trained. Don't start giving in to fussing-if they complain you CAN knock some of the rent increase down by a 1/3rd or half, or push it back a month but rent increases make the world go 'round. How else do you pay for higher electric bills, new cameras, trash collection etc. etc. etc.?
    90% of what you're stressing about now won't even be relevant in a year. Breathe easy. ~Wesley Snipes

    WA State

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    • #3
      Christmastime is a great time to show them you think of them and appreciate them and remind them every time you see them. If I have a long term tenant that comes on the property I also pay them a visit and talk with them at their unit and offer to clean out the bottom of their door rails where it builds up crud and offer to sweep out the front area where the dirt and cobwebs gather. I ask if they have any door problems that I can schedule with my maint man for them. Just generally talk with them.
      "Never let the inmates run the asylum!"

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      • #4
        I dont believe our long term tenants are with us because of pricing as much as they are with us for location and we treat them right, as we treat all tenants.

        The last business I owned I would send out Christmas card to every customer. This was expensive but worth it because one referall would pay for everything. The people I work for now only see that as an expense and are not interested.

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        • #5
          We gave them a free month if they had been here 10 years without payment problems.

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          • #6
            Originally posted by pacnwstorage View Post
            Christmastime is a great time to show them you think of them and appreciate them and remind them every time you see them. If I have a long term tenant that comes on the property I also pay them a visit and talk with them at their unit and offer to clean out the bottom of their door rails where it builds up crud and offer to sweep out the front area where the dirt and cobwebs gather. I ask if they have any door problems that I can schedule with my maint man for them. Just generally talk with them.
            Bingo! Tenants don't like to move out. It's a hassle for them and if you treat them right they won't think about moving over a rate increase. I've got one tenant that has been with me for over 30 years! And several over 10 years. Once you get them in, take care of them. Address any problems immediately, no matter how trivial they seem to you; they are real problems for them.

            Folks don't move out except when they get to move into their new house, leave the area, etc. Never lost one because of a small rent increase.

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