Losing Occupancy

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The self storage industry is extremely competitive.  Owners and managers frequently secret shop their competitors to compare prices, discounts, access hours, etc. 

I have been a PhoneSmart phone rep for several years, so I can usually catch on pretty quickly when someone is mystery shopping me.  I do not really mind it, but since I am obviously not going to get a sale with this type of call I want it to go as quickly as possible. 

I had one of these secret shoppers today.  The man started off asking me the basic questions, like how much is a 10×10 and are there any specials.  But when he began asking about the total number of units we have in the building, how many are rented, how long we have been in business, etc. I got suspicious.  I reiterated, “Do you need to rent storage?” and he ‘fessed up. 

He was telling me he owns a storage facility nearby, and he was wondering what had happened to his occupancy.  He was calling the different locations to find out how many new competitors are in his market. 

It seems he has been at 100 percent occupancy for ten years, and now all of a sudden he has dropped off to just 95 percent of his units rented.  It was really hard for me to be too concerned for the man.  Maybe, I too, will build a storage facility in his neighborhood!

Written by: Ann Sheehan

Thanks for reading our property management blog and inside view of the self storage industry.

PhoneSmart is your offsite sales force and call center in Columbia, Missouri.

Rent storage at 11115 Robinwood Dr, Hagerstown, MD 21742

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.