By Terry Campbell
The self-storage industry and boat and RV storage have grown significantly over the past decade with no signs of slowing down. Both traditional and boat and RV storage have been the solution for millions of people for moving, storing, and preserving their valuables. Due to the 2020 pandemic and a shift in lifestyle for many, the need for boat and RV storage particularly has spiked. This has allowed many owners and operators to grow their businesses through acquisitions and expansion. It also has allowed new owners to emerge and solely focus on boat and RV storage.
With more and more self-storage and boat and RV facilities popping up across the nation, how these facilities are managed is critical to their success. Today, remote management services are a sought-after solution for many owners and operators.
The Skinny on the Industry
Both self-storage and Boat and RV storage are smart investments for individuals or companies looking to grow their real estate portfolios. With less overhead than most investment properties, self-storage and boat and RV storage tend to have low operating costs and remain steady in a fluctuating economy. As more families and individuals continue to work remotely, many have invested in RVs, boats, and campers to expand their style of living.
There are also various financing options available for this asset class. Self-Storage and boat and RV storage qualify for both SBA and conventional loans. If you’re looking for a business that provides passive income and want to put as little as 10% down, this may be the industry for you.
Whether you own one or fifty facilities, how you manage your facility is critical to your success and bottom line. Let’s explore why remote management solutions are becoming more accepted in the industry and seen as the way of the future by self-storage and boat and RV owners and operators nationwide.
Out With the Old Management ModelÂ
If you already own a property or are in the process of ownership, your to-do list will be long. Marketing, management, and maintenance are top of mind and it’s important to understand your options for these aspects of your business. Management services, particularly ones that handle the day-in and day-out of your business, like website maintenance, rate increases, and bookkeeping are available. Today, the concept of remote management has not only been considered by more owners and operators, it’s becoming the norm. The question is which remote management companies outweigh the others.
Traditionally, owners have hired a manager to oversee the day-to-day tasks such as greeting customers, renting units, and collecting payments. With a full-time, manager on your payroll, NOI is slim because of the taxes, insurance, and benefits associated with full-time employees. According to Ziprecruiter.com, the average annual salary for a full-time self-storage manager is $31,552.00 or $15 an hour.
Today, companies like Copper Storage Management have cracked the code to remote management and provided the tools for owners all over the United States to run their business without an on-site manager. We’ll walk through the ins and outs of remote management below.
How does it work?
Much like booking a hotel room or even buying a car, the process of renting a self-storage unit or boat, or RV space can be contactless. Take out the middle man or in this case on-site manager, and allow tenants to reserve, rent, pay, and upgrade their units online. Additionally, some management companies, like Copper Storage Management, offer a remote operations center for tenant’s questions, needs, or concerns.
What does Copper Storage Management provide to owners and operators?
The Copper Storage Management model incorporates best practices for customer service, marketing, rate management, cost control, and streamlined operations utilizing automation processes. If you’re looking for more detail on Copper Storage Management’s services, below is an outline of what we provide to our clients.
- Operations Set-Up & Management
- Revenue Management
- Pay through textÂ
- Lien Auction Process
- Maintenance Consulting Services
- Marketing Services
- Basic Bookkeeping Services (optional)
Remote management is the future for self-storage and boat and RV storage, and working with a management company with decades of experience is essential. Visit our website to learn how Copper Storage Solutions will set your facility up for success using remote management -copperstoragemanagement.com
Terry Campbell is CEO of Copper Storage Management.
