345. How to Create More Demand for Your Self Storage Units (Grow Occupancy & Rents)

Your self storage business isn’t struggling because your vacancy rate has slowly crept up or because your rents are too high. What’s actually going on? It’s simple: you have a self storage demand problem. Everyone thinks demand is outside of their control—that it’s completely dependent on the market, competition, and rates. But it’s not. The truth is, you have far more control over demand for your self storage units than you probably think. Not convinced? In this episode, we provide real case studies of developments, fill-up facilities, and stabilized facilities we have transformed over the last four to six months. If you want to “create” demand, even in a seemingly competitive market, we have the playbook. Whether you’re looking to buy an existing mom-and-pop operation or optimize an underperforming facility you already own, there are four operational levers you need to pull if you want to generate enough demand to improve occupancy and increase revenue—without slashing rates. Dial these in just right, and everything changes—not just demand for your self storage units but also your overhead costs, your conversion rates, and your bottom line.   What you’ll learn in today’s show: Four levers that will improve demand and occupancy at your self storage facility Real case studies of developments, fill-up, and stabilized self storage facilities Why lowering rates won’t fix your self storage facility’s vacancy problem How to “create” demand for self storage units (and drive occupancy higher) Improving your self storage business’s conversion rate (and land more customers) __________ Grab AJ’s Book, _Growing Wealth in Self-Storage 2.0_ : https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865  Hummingbird: https://www.tenantinc.com/products/hummingbird TractIQ: https://www.tractiq.com