38 min
232. Are Self Storage Price Drops a Lie? Well, sort of... Self Storage Income
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- Investing
Like any industry, self storage has recently adopted the idea of "promotional pricing." Think "first month's rent" for housing or "device trade in credit" for buying the newest smartphone. At some point, it is just too good to be true.
There's a fine line between "promotional" and "false advertising." Attracting the right customer base - and getting them in the door the RIGHT way - is what Conner and Jesse Harmon talk about in this episode of Self Storage Income.
Jesse recently got back from the Tenant Inc. Innovation Conference, where there was a lot of discussion on customer acquisition, customer service, and the role of AI in revenue management. The overwhelming consensus in the industry (particularly the REITs), is to lower prices, get people renting, and then jack up prices. But that takes the choice away from the consumer (and as a consumer, you may feel swindled or ripped off. Rightly so!). Questionable ethics aside, is this really a sustainable long-term strategy? Is there any other way?
Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/
Check out Storelocal!
https://www.storelocal.com/
Ready to buy storage? Have your deals personally evaluated by AJ and our team!
https://www.selfstorageincome.com/feasibility
Take advantage of today’s market conditions and invest with us:
https://cedar.cc/invest
Like any industry, self storage has recently adopted the idea of "promotional pricing." Think "first month's rent" for housing or "device trade in credit" for buying the newest smartphone. At some point, it is just too good to be true.
There's a fine line between "promotional" and "false advertising." Attracting the right customer base - and getting them in the door the RIGHT way - is what Conner and Jesse Harmon talk about in this episode of Self Storage Income.
Jesse recently got back from the Tenant Inc. Innovation Conference, where there was a lot of discussion on customer acquisition, customer service, and the role of AI in revenue management. The overwhelming consensus in the industry (particularly the REITs), is to lower prices, get people renting, and then jack up prices. But that takes the choice away from the consumer (and as a consumer, you may feel swindled or ripped off. Rightly so!). Questionable ethics aside, is this really a sustainable long-term strategy? Is there any other way?
Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/
Check out Storelocal!
https://www.storelocal.com/
Ready to buy storage? Have your deals personally evaluated by AJ and our team!
https://www.selfstorageincome.com/feasibility
Take advantage of today’s market conditions and invest with us:
https://cedar.cc/invest
38 min