Self Storage Property Management
Progressive Realty Partners is committed to thorough and transparent communication with our owners. We own, operate, and/or manage several brand names: Lighthouse Self Storage, Whittier Self Storage, Oceanside Self Storage, Beach Blvd Storage, and Storage Outlet.
Our partnership with storage owners ensures your property is being managed to beat the competition. Our services provide for complete property management services, including market analysis, strategic rental pricing, complete daily operations, personnel recruiting, training and supervision, monthly financial reports, accounts payable and customer service.
Budget Expense Control. PRP Management understands the importance of evaluating expenses and analyzing what can be controlled. Tight control over expenses is the quickest path to increased NOI. PRP has exhaustively scrubbed budgets for all their current clients with recognized significant savings increasing NOI as much as 15% to investors.
- Evaluating Staffing Efficiencies and Labor costs
- Utility Assessment
- Cost Control Work Order Policy
- Alternative Vendor Sourcing for Property Maintenance
- Competitive Management Fees – NO HIDDEN COSTS
- Effective Marketing Campaign
Revenue Management. With increased competition, it is critical to be able to react to changing market conditions on a daily basis through available technology of web based operating software revenue management tools. The existing tenant base provides an immediate opportunity to increase revenue. Careful evaluation and management of the tenant base and implementation of management revenue systems can realize immediate increased NOI.
- Street Rates / Push Rates / Standard Rates
- Timely Managed Rental Increases
Sales Training. Site managers are the direct contact between your product and the customer (rental income). Immediately assessing the sales skill level and training the managers will increase the closing ratio and immediately increase NOI. Years of development of a very professional and thorough sales manual, resulting in detailed sales guidelines for the storage industry. Immediate implementation of the sales manual and training will result in immediate occupancy increase and reduced move-in discounts. The sales training process includes; telephone skills, walk in face to face sales skills, customer service and prospect follow up. The FAB (Features And Benefits) of this attention is increased closing ratios, higher occupancy and increased revenue.
Marketing Opportunities. Today’s sophisticated owners focus on Internet-based, Geo-targeted marketing and PRP has the experience to find the right marketing mix for your storage property. Technology has completely re-structured the storage industry’s marketing model away from traditional marketing methods. Embracing the current effective methods is crucial to competing in today’s arena.
Staffing Recruitment and Operations Training. Recruiting and seeking out a qualified effective facility management team has become more of a challenge than in recent years. The current unemployment status surprisingly has not resulted in increased quality applicants. PRP is in a constant state of management improvement and we are proactive in replacing and maintaining qualified site managers. Additionally, PRP utilizes a third party Human Resource consultant to assure compliance with all state and federal regulations.
Operations. Based on years of operating facilities of our own, we have stream lined effective operations methods for our site managers and corporate support team, resulting in efficient use of site manager resources;
- On-line/web based property operating reports
- As needed conference calls and consistent in-person meetings with our management
- Scheduled and unscheduled facility visits
- Quarterly policies and procedures audits
- Monitoring of local competition
- Revenue Management Team
- Lien processing up to and including auctions with a licensed auctioneer
- Inventory purchasing and retail sales
- Vendor management for all repairs and maintenance
Precise Financials. PRP’s accounting team will establish monthly, quarterly and annual financial reports generated through advanced property management software program. Our self-storage management financial services include:
- Accounts payable
- Payroll management
- Sales tax reporting
- Operations budgeting and forecasting
- Monthly bank account and financial report reconciliation
- Monthly financial reports that include facility income statement, balance sheet, and general ledger.
If you’re considering getting professional self storage management assistance for your storage property, contact Progressive Realty Partners at 949.453.9993