You Shouldn't Raise Rent on Existing Customers!

[AjmCorona]

The other day, out of the blue I received an email from a long standing, good paying tenant.
Her email was the following>>>>>>>>>>>>>>>>>> I want a lower rate. Thank you.

My response was>>>>> Excuse me? How may I help you?

She replied>>>>>>> I want a lower rate.

I reply>>>> I am sorry, we do not "lower" rates. You could get a lower rate by transferring to a smaller unit.
Currently you are paying $XYZ and the current street rate, which is MORE than you are paying now is $ABC
So you are currently getting a great rate on the size unit that you have.

She replies>>>>> Ok I’ll just empty out soon.
I figured you would want to keep my business.
No problem
Thank you

I reply>>>>>>> We are so sorry to hear that you wish to leave the property.

At this time we can not lower your rental rate.

You are currently being charged for your 5x10 inside unit $64.62 plus sales tax equals $68.90 a month.

The current street rate for that unit is $75. plus sales tax.

So there is the reason that the rate can not be lowered.

Thank you




She hasn't written me back!!

Wow. The audacity of these people never ceases to amaze me. haha

[pacnwstorage]

Again, another entitled masses member. They are entitled to be incredulous if you will not do what they want and she was just short of using the "R" word as well because she did not get her way. People like her are like a fly, they are a nuisance and need to be swatted flat.

[RMRSS]

We get this all the time as well. Its always interesting to me that someone is willing to move all of their stuff to another facility where they would pay the same price, over a $10 increase.

It's called being extremely petty and passive-aggressive. They know the math doesn't work, but they feel like because you're not getting their money any longer, that they've made some sort of statement

[RMRSS]

The other day, out of the blue I received an email from a long standing, good paying tenant.....

I just had a current tenant this morning inquire about transferring from his 5x10 to a 10x10. He had come in about a month or so ago and inquired about the same thing, at which time my street rate was $10 lower than it is now. "Don't you have a deal for me?" he asked at the time. "That is a deal sir, so I'd suggest reserving or renting it now to lock in that rate. "No, that's too expensive" and then he leaves. So today he comes in to inquire again and I tell him the current rate. "But last time you told me $xx" Yes, sir, but our rates are adjusted based on supply/demand and we only have one left now. "You lower it to $65, I rent today" he says (the rate he previously said was too expensive). "I'm sorry, sir, but the rate is $75." He says it's too expensive and leaves.

About 30 minutes later I rented if for $75 to another current tenant

[pacnwstorage]

I just had a current tenant this morning inquire about transferring from his 5x10 to a 10x10. He had come in about a month or so ago and inquired about the same thing, at which time my street rate was $10 lower than it is now. "Don't you have a deal for me?" he asked at the time. "That is a deal sir, so I'd suggest reserving or renting it now to lock in that rate. "No, that's too expensive" and then he leaves. So today he comes in to inquire again and I tell him the current rate. "But last time you told me $xx" Yes, sir, but our rates are adjusted based on supply/demand and we only have one left now. "You lower it to $65, I rent today" he says (the rate he previously said was too expensive). "I'm sorry, sir, but the rate is $75." He says it's too expensive and leaves.

About 30 minutes later I rented if for $75 to another current tenant

This story is priceless.

[SimplySpace]

And yet, they would not think to question the cost of a $6 hamburger at BK. The cost for making that is close to $1.50, including employee wages and insurance but the eater does not care. Whatever you do, don't suggest that they stop smoking cigs or pot, stop drinking, stop gambling or use a less expensive cell and above all else, stop buying the overpriced crap at Starbucks.

I just had a customer who is past due every month and always asking us to waive their fees, tell me about how they just spent $3k on their kids Christmas gifts! Yea, you can afford to pay you late fees and your increases!

[SimplySpace]

It's called being extremely petty and passive-aggressive. They know the math doesn't work, but they feel like because you're not getting their money any longer, that they've made some sort of statement

Exactly. I was exaggerating when I said it happened all the time but rather we get the threat all the time. We have had people move to other locations, but that seldom happens. In a lot of cases, if they are complaining about it, I'd prefer they leave and we can get someone in at full price.

[StorageBrett]

Whenever I feel guilty about rate increases I quickly remind myself that a storage unit is not a necessity, so if tenants no longer want to pay or can't afford the new higher rate they are free to vacate!