04 Jul 2023
With over half of self storage owners and operators in the United States being small business owners, it’s early days for the types of technology that these types of owners need to compete with the REITs for streamlined operations and automated processes. Most owners actually prefer a boots-on-the-ground approach to their business. Statistically speaking, as new owners and operators of a first or second small business, many self storage facility owners want to have a birds eye view of their business - their livelihood and their legacy.
This doesn’t necessarily mean you must go the traditional route when it comes to managing your self storage business. In fact, being squarely in the “early days” means you (as an owner) have an opportunity to shape the future of self storage management and property management software to the unique needs of the self storage industry as a whole. All that time you spent on-site communicating with customers, training staff and supervising the construction of your facility is the gold dust being used to fashion the skeletal framework of the future of self storage management.
Now that we understand what property management software is, we want to look at who uses it, to get a clear picture of its power. In their article What is property management software Matellio outlines many different use cases for PMS, including;
Real Estate Companies & Investment Firms - these types of businesses use property management software to streamline and centralize management of many different facilities, often spread throughout the USA or even the globe. REITS always use enterprise-level PMS, but considering most self storage facility owners are small business owners, most PMS companies have also developed a small-business version of their software to meet this increasing demand.
Tenants - PMS is in use across the world to help manage tenant needs, requests and communication with their property managers and owners. Most HOAs have an app dedicated to renter communication, while most large facility owners use it to communicate with their business owning customers. Linking your software for property management with a tenant portal is the best way of ensuring quick and accurate communication with customers at a moment's notice, vastly improving the overall customer experience.
Property Owners & Managers - Self storage is in good company, with everything from student housing and luxury apartments to commercial buildings and short and long-term retail spaces like campsites or hotels using PMS to <remotely manage their complex and ever-changing site.
As a self storage owner or operator, how well you know your property and business could be the determining factor in your eventual success or failure. Property management software is perhaps the most powerful tool you have at your disposal, to ensure your future success! For more information on how you can get started with PMS, or to reach out with questions or suggestions on the next era of self storage technology and PMS development, visit our ManageSpace community - and let us help you set up for self storage domination!
