Length Of Stay = Your Pay
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I don’t know what your statistics are at your self storage properties for lengths of stay. If you don’t know, then you need to find out. Guessing an average length of stay is great as a quick little thumbnail, but you need to know more than that for making good long term decisions. You need to know how many people stay a month, how many stay two months, how many stay six months, how many stay twelve months, how many stay twenty-six months, and you need to know that by class of units. You need to know by small, medium, large; you need to know the difference between homeowners, apartment renters, students, and military. You need to know all of these statistics to be able to run your business well. If you don’t know all of these statistics, take some time and start making some notes or start a . If your software that runs your self storage or property doesn’t give you all of this information, you’re going to have to find a round-about way to get it. There are a lot of facilities where people are staying more than a year at a rate of 60 percent. That is enormous. That means that every effort you put into figuring out how to sell to more people has a serious payout.
Written by Tron Jordheim, Director of PhoneSmart
Thanks for visiting our property management blog, that deals with self storage, customer service and the property management industry.
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