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  • evansr
    replied
    Same here, our unit occupancy has been a bit low, company average across our sites 86% (we've also added new units at a few sites), but our economic occupancy is at an all time high (percentage and dollar totals) due to consistent rate increases on all customers. We use storEDGE and push our discounts to all the 3rd party sites and our website. Because we're building the discounts we can do what ever (with sparefoot, for non-integrated sites, you are stuck to their generic discounts) we have the following discounts say and do:

    100% - 94% - RENT OR RESERVE NOW! Limited Units!
    94% -79% - 25% Off the rest of the month when you enroll in auto pay
    79% - 60% - 1st Month 50% off when you enroll in auto pay
    60% - 0% - 1st Two Months 50% Off when you enroll in auto pay

    We require all customers who get a discount to do auto pay with us. Most of the customers who get a discount have either rented or reserved online, but the vast majority of the rentals are drive by and referrals.

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  • dakselfstorage
    replied
    It has been a bit slow here. We are down about 8 units from last year to date.
    But the rent raises have made up for it.
    The only promotional item we give is a nice pen with a stylus on it. tenants love them. Many times during rental a tenant will say can I have one of these pens. Sure you can.

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  • jewelgreg
    replied
    Wow thank you all for your suggestions and thoughts. I am happy to know that the move outs are not just happening to me, although I wish is wasn't happening to anyone quite frankly. But we have a very nice complex, clean, gated, cameras etc, the best facility around actually so I think you guys are right, it is the economy. It is good and people are building, adding additions, moving and so forth. I think I will wait out the storm and hopefully we will fill back up in the Spring. Again thank you all for your comments.

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  • pacnwstorage
    replied
    "One side note: If you do offer a low cost move in special, be sure to vett the customers carefully. ( Extremely Low move in cost usually means low quality customers: meaning those who go from place to place because the cant follow rules, who are being evicted or who are homeless.)"


    Exactly why we do not do move in specials.

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  • wc1974
    replied
    Same here, we usually are in the 95 to 99% range, but have had an almost 8 point drop. We had a ton of move outs from people who are buying homes and don't need the extra storage anymore, or they are moving out of state and taking their stuff with them.We also had several new competitors open this year within a 5 mile range. I even convinced our home office to lower our rents to a more competitive range, so at least now we are getting calls. Our current promo is roughly 60% off selected sizes ( any size we have more than 10 available) for the 1st 3 months, we call it a Santa's Closet special. Even with this huge discount we are getting maybe 3-5 rentals a week right now. I have good relationships with most of our competitors and regularly talk to them to gauge how they are doing. I am getting the same stories from everyone ( including all 21 of our stores) rentals are down right now. We keep our properties looking good, our staff is friendly, knowledgeable, and we offer good security, and many other convenient options for prospective tenants- so it isn't that we are not a good choice for them-the demand is just not there right now in our area for storage. One side note: If you do offer a low cost move in special, be sure to vett the customers carefully. ( Extremely Low move in cost usually means low quality customers: meaning those who go from place to place because the cant follow rules, who are being evicted or who are homeless.)

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  • pacnwstorage
    replied
    Originally posted by jewelgreg View Post
    Hi all, I haven't been here for a while. I miss reading the posts. I do have a question. Have any of you used promotional techniques to get more units rented? I have always been in the 90 percentile for units being rented, but recently had a slew move out due to new homes, garages built, etc and I would like to fill back up. Any good ideas for a promotion to get people in. I know this is a hard time of year with the holidays and all, but hopefully will fill back up soon. Thanks for any suggestions!
    I said quite a while back that the better economy, caused by you know who, has allowed people to go back to bigger living arrangements and garages and such and now they have retrieved their belongings that they wanted to keep, from the storage units. When the economy was bad there was also a rush to build new facilities and now there is a glut of units. Lots of facilities also raised there rents many times during that "feast" period and now during the "famine" period they don't want to lower rents and now run move in specials all the time. We don't do that here. We did not raise rents as high as others and do not do move in specials. I really push the security here and keep the place looking pristine. Promotions are great but if people have "no need" because they now have a better job, make more money and are living in a larger home, the facilities re over stocked with units and our vacancy %'s are going to be higher.

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  • JamesStorage
    replied
    Are we talking big units, small units, or a mix? If it's small I always recommend the classic Santa Stash. For bigger ones, maybe a certain percentage off for a few months?

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  • jewelgreg
    started a topic Promotional ideas

    Promotional ideas

    Hi all, I haven't been here for a while. I miss reading the posts. I do have a question. Have any of you used promotional techniques to get more units rented? I have always been in the 90 percentile for units being rented, but recently had a slew move out due to new homes, garages built, etc and I would like to fill back up. Any good ideas for a promotion to get people in. I know this is a hard time of year with the holidays and all, but hopefully will fill back up soon. Thanks for any suggestions!

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