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Bringing everyone's price up to advertised price

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  • Bringing everyone's price up to advertised price

    We purchased a three storage facilities early this year and now that we have our hands around everything we're looking to move prices up to current advertised prices. The previous owner had prices all over the place. Some folks price will be going up by as much as $20 a month. I plan on making the increase effective February 1st, and therefore I will need to send notice out late December.

    Can anyone share with me some language for the letter notice I will be sending everyone?

    And any advise on this topic is always welcome, not always followed but welcome.

  • #2
    Doesn't your facility software system have a default rent raise letter?
    "Never let the inmates run the asylum!"

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    • #3
      1) KNOW what YOU need to charge per SF to turn a profit at each facility
      2) Compare those number to what you are currently charging
      3) Compare to what others are charging and RAISE you prices if possible. NEVER go down
      4) Price higher then everybody else if you want to keep the riff raff out
      5) For your letter I would keep it short and simple such as - As of this date prices will change to $xx

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      • #4
        Easy Storage doesn't have a built in rate increase template, but I have asked for one. So I expect they will supply a template. Thanks for the idea.

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        • #5
          Originally posted by bcollett View Post
          Easy Storage doesn't have a built in rate increase template, but I have asked for one. So I expect they will supply a template. Thanks for the idea.
          This is almost a must with a good software system. We use storEDGE and are in the process of doing what your are doing, raising rates up to street rates. Like Griz said keep it simple.
          Dave (Woodee) Scott

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