Self Storage – Investors Should You Hire A Manager?

Self Storage is a business where a tenant rents out a unit or space from a storage facility for personal or professional use. He can access it anytime while he's renting it. Here in the self storage investing business there are many important aspects to keeping your business in line. However, perhaps none are more important that who you choose to manage your facility. A good manager can turn a self storage facility into a booming, profitable business, and in the same light, an awful one can bring it tumbling to the ground. Finding the right manager may be a time consuming task, but a necessary one when you consider all of their responsibilities.

The self-storage business manager is the person who runs and operates a self-storage business facility. On-site self-storage business managers (living within the facility) and off-site managers (living outside) perform the same basic responsibilities. Companies will frequently hire teams of at least two managers to manage the facility more efficiently and to provide around-the-clock service to the tenants. They also have relief managers for the weekends or if one or more of the managers can't make it that day for some reason.

So, what are the seven main responsibilities of a self-storage manager?

What Exactly Does A Self Storage Manager Do?

Rent Collection

Their most basic responsibility in managing the facility is of course, collecting the rent from the tenants at the start of every month, but like everything in life, it's not that simple. Its` generally known that collection is never as simple as it seems. There are late payments, fines and tons of paperwork.

Acquisition of New Customers

Self-storage managers interact with the customers; the current tenants who are already renting some of the units, and new customers (and possibly future tenants) that are looking for a unit to rent. They cater to their questions and read them policies and guidelines.

Inspection of the Units

Checking and maintaining the entire facility, inspecting the security (units broken in, areas that can easily be broken into, security cameras, the lighting, etc.)

Operational Duties

Depending upon company policies and job descriptions, they could also be responsible with handling the facility's accounts like – paying the taxes, overhead costs, salary of the other employees, etc.

Transport and Logistics

Negotiating contracts with transport and freight firms if the employer or company doesn't have it.

Marketing Strategy

Marketing the facility, printing out flyers and posters and posting them in appropriate places to attract new customers to the facility.

Supervision

Supervising and monitoring the staff. They should be able to guide them in doing their job well and manage all their employees' concerns.

Choosing Your Self Storage Manager

When it comes to finding a self storage facility manager, do your homework. Do your potential hires have experience? Is that experience topic related? Or will their other skills translate? Just because a potential manager has minimal experience with the self storage industry doesn't make them a bad choice. Look at their backgrounds: have they worked in retail? Dealt with customer service? All of these things will fall under your manager's jurisdictions. Look beyond their former positions and see what skills will help them succeed in the self storage industry.

Another aspect to consider when hiring your manager is to get help from an outside source. Having a personal relationship with a potential hire or choosing after first impressions aren't always a good idea. Ask a fellow property owner to help you decide, or a close friend who has experience owning their own business or working in management. When it comes to picking your manager, you can't afford to get emotionally involved and risk choosing the wrong hire.

Ongoing Self Storage Management Education

Next, once you've made your pick, don't forget that the self storage business is always changing, and so are the management techniques. There are hundreds of opportunities for continued education, and allowing your manager to expand their knowledge will only make them better at their job. Treat your manager to seminars, webinars, speakers, or training sessions on a regular basis. Not only will the expense help your employees, but it will have a direct (and positive) effect on your business; helping it run smoother. And although it may seem like a costly expense, remember that with employees, you get what you pay for and your manager is the central piece holding your business together.