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  • Rental Rate Increases

    Many operators paused rental increases last spring and summer. Have you resumed price adjustments for existing and new customers?
    21
    Yes for both new and existing customers
    23.81%
    5
    Yes for new customers
    14.29%
    3
    Yes for existing customers
    14.29%
    3
    No, we're still paused
    23.81%
    5
    We never paused rental increases
    0%
    0
    Other
    23.81%
    5
    Amy Campbell
    Editor
    Inside Self-Storage
    [email protected]

    @AmyCampbell_ISS
    480.281.6091

  • #2
    After being mostly full all summer we had decided it we were going to go ahead and raise rates. Then the major disaster happened a month ago, so we delayed it again. I believe we will before the end of the year though.

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    • #3
      I had a rate increase planned for late this spring but due to Covid I've postponed it indefinitely.

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      • #4
        I sent out increase letters in mid-January that took effect on March 1. Made it just 'under the wire'.

        Due to the increase, 2 tenants decided to move out. Since then, I'm at my highest consistent occupancy rate in recent memory. (98%+)
        Last edited by Storman; 15 September 2020, 09:05 PM.
        In no way affiliated with Storman software.

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        • #5
          We haven't done rate increases since 2017 and nothing has been mentioned about doing them any time soon. I have suggested we do them, but at the end of the day, it's not up to me.

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          • #6
            Other, none planned because of a rate increase last year on the bigger more popular sizes.
            "Never let the inmates run the asylum!"

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            • #7
              None since covid, but will be doing them in the spring for everyone (assuming we are still full).

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              • #8
                Originally posted by twotoejoe View Post
                I had a rate increase planned for late this spring but due to Covid I've postponed it indefinitely.
                Just out of curiosity, why would you postpone it indefinitely? Covid can't last forever, right?!

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                • #9
                  Originally posted by [email protected] View Post

                  Just out of curiosity, why would you postpone it indefinitely? Covid can't last forever, right?!
                  'indefinitely' means there is no definite time that I will increase rates. As soon as the Covid situation gets better I will 'definitely' raise rates!

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