“An empty unit is better than a bad tenant” 🤔

GM Store Nation,

Greetings from Crete … Here’s my office this afternoon, worse places to be working from ☀️

So this week for Store More … Hasn’t been great!

Low Quotes 😱

Low Reservations 😳

Low Conversions 🤨

Lots Move Outs ❌

But I don’t just wanna share the good times with you … Were in this for the long haul and there will be bad weeks … and this is certainly one of them 🥲

Right ….

Lets … Do … This …

Here's what coming your way today :- 😱 😎 🎯

🤐 A Self Storage Tip - “An empty unit is better than a bad tenant”

🤝 3 Self Storage News Stories

🧐 Yesterdays figures for each facility

🥸 Meme of the day

Self Storage Tip - 💡 💰 🤑

I heard this on a podcast a couple of weeks ago and loved it so much that I had to pull the car over and take notes -

“An empty unit is better than a bad tenant”

That struck a real chord with me! I totally agree! ✅

A bad tenant takes resources away from the task in hand … Getting new lets ❌

A bad tenant takes more managing ❌

A bad tenant is often impossible to please ❌

A bad tenant doesn’t pay on time ❌

A bad tenant can leave a bad review ❌

A bad tenant looks for things to complain about ❌

A bad tenant causes stress for your team ❌

A bad tenant brings a negative atmosphere into your facility ❌

A bad tenant brings will try his look with insurance claims ❌

We havent had too many bad tenants over the years … But I do remember a few that fit the mould above 🤨

It wasn’t fun for me or the team

The problem is we never know who is going to be a bad tenant and who isn’t

When we find ourselves with a bad tenant we have had to manage them out of the facility

How have we done this -

We’ve blamed insurance companies

We’ve blamed the police

We’ve blamed the landlord

We’ve blamed the SSA … Haha sorry Rennie 😊

We’ve even given them MASSIVE price increases

I personally think there’s a massive cost to a bad tenant … Most of which we cant quantify and see

They can cause stress, anxiety, worry and much more to your team

In my opinion the quicker we manage them out of your storage the better

REMEMBER - “An empty unit is better than a bad tenant” ✅✅✅

Industry News -  🧐

1 - How to increase your self storage revenue

• 2 - Self-Storage Real Estate Acquisitions and Sales: August 2023

• 3 - Robust revenue momentum at Lok’nStore

The fun bit - My business .... Bare Butt Naked! 😲 🤫 🤭

Willerby (Hull) My big site -

• 0 Reservations

• 0 Move In's

• 0 Move outs

Month to Date -

• Minus 265 Sq Ft

Reservations so far this week = 2

Move ins so far this week = 2

Clough Rd Figures .... The Automated Site

• 0 Reservations

• 1 Move in

• 1 Move outs

Month to Date -

• 705 SQ FT DOWN for the month so far.

Reservations so far this week = 4

Move ins so far this week = 2

Beverley ... My baby ... My first site! -

• 1 Reservation

• 0 Move in

• 0 Move Out

Month to Date -

• 125 Sq Ft down for the month

Reservations so far this week = 1

Move ins so far this week = 0

Wrexham's Figures (Indoor) ... My First acquisition

Reservations so far this week = 2

Move ins so far this week = 0

Meme of the day - 👀 😂

Health and Fitness ... Move More = Live Longer - 🏋️‍♀️ 🏃

Weekly goals -

• Gym - 5 times … Go on hol on Thursday but the hotel has a gym

• Run - 0 … Im still injured with my knee … But im making sure my average steps are 20,000 per day. Gotta keep up the cardio

• Boxing - 0

Results so far -

• Gym - 3

• Run - 0k

• Boxing - 0

Yesterdays Steps - 15,393 Travelling Day

Loads of self storage love,

Dean ❤️ 🙃