Nobody likes price increases. Renters don't want to pay more, managers don't want to handle complaints, and owners don't want to lose customers.
But price increases are a necessary part of the self storage business model. Knowing the best way to handle things can make your price increase go a lot more smoothly.
Additional resources on rate and revenue management: How to Raise Your Facility Value Before Selling, Revenue Management: The Short-Term and Long-Term Solution to Your Storage Facility's Value, and How to Use Your Facility's Occupancy Rates to Maximize Profits.
Read on to learn how you can break down the process into manageable steps, and check out the text version of the post here!
Do you have any other tips for owners and managers preparing for a price increase? Share them with us in the comments below!
If you liked this article, you may also like: Can My Storage Facility Save Money with Third-Party Maintenance? and 7 Unique Discount Ideas.
As always, thank you for reading!
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