Section 10 • Management


marketing plans and programs, web site development, manager hiring and training, updated comparable sur- vey, integration of all operating systems including access control and operating software, and promotional items ready for pre-leasing at least one month before opening by the managers who are ready to go. Input is provided for the office and store layout, unit mix, site plan, ancillary sales, lease-up projections, detailed five-year budgets, furniture and fixtures planning, and signage (both main ID signs and the on-site signage needed to direct and in- form customers). All this and more, when reviewed and guided by experienced professionals, can save owners thousands of dollars, and allows for a well-thought-out site that will lease up quickly. The low monthly mini- mums charged while under construction can literally be the saving grace for your new store, especially if it is one in need of a complete rehab or in a crowded marketplace with too many competitors. The benefit through costs savings from fewer change orders, or better designs that compliment how the storage customer uses the proper- ty, can be enormous. Normally we can spend from nine to 18 months working hand in hand with owners prior to opening. Oversight of construction or rebuilding of the store may also be included for additional fees.


Avoiding Common Mistakes The following recommendations are purely those of the author and are based on three decades of involvement in the self-storage industry.


Agreed Upon Flow Of Communication Have an agreed upon flow of communication between the store managers, management company, and the owner. If the manager at the store feels they have too many bosses, they can feel over- whelmed and give up. It works best when everyone agrees, when the owner wants something, he or she tells management, and they will get with the managers to make it happen. When the store manager wants something, they communicate to management, and management will confer with the owners and respond. This way everyone stays on the same page moving forward as a team, with management being the conduit for everyone. Remember the managers are the employees of management, not the owner’s employees. Management companies want to help you manage li- ability and risk and know a lot about Wage and Hour Laws, Labor Laws, state legal requirements, and other HR issues that can save the day and keep you out of court or expensive litigation for over- time or other violations.


The low monthly minimums charged while under construction can literally be the saving grace for your new store, especially if it is one in need of a complete rehab or in a crowded


marketplace with too many competitors.


Annual Approved Budgets And Goals Everyone has already re- viewed and agreed upon the targets for all income, expenses, and leasing activity; with an agreed upon annual budget and sales goals there is no need to revamp the budget each month. It is when owners wish to con- stantly revise budgets or plans that things can run aground. This does not mean there won’t be con- tingencies or emergencies to handle. Life happens; most of us have a detailed history of operating in- formation we rely on for budget planning, so we must prepare our budget to handle exceptions and need authorization limits for emergencies.


100 Self-Storage Almanac 2021


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