How much should I charge for my self storage units?
This is a question that I get asked most often. Even once owners settle on their self storage unit pricing, they still need to increase rates on a regular basis. I have been helping owners set self storage rates and raise self storage rates for years and here are the top 4 mistakes that I see when it comes to pricing self storage units.
Mistake 1: Keeping Up with the “Joneses”
When I discuss self storage unit pricing with most storage owners, they talk about price shopping their competition and little else. If you are just keeping up with your competition and not digging into the supply, demand, customer needs and other data, you are losing money.