Nice info. My RV storage I have customer in Mind. I haven’t raised rates since Covid. I learned to make them happy . I have no vacancies. Steady income. Maybe I should raise rates . I feel I’m in the market rate
1. Transparency will win the day. 2. Your brand is your reputation for the long game. 3. Just because you can doesn't mean you should. For small operations being up front with the move in deals works way better than the undisclosed 70/30 rule being used by the big operators. This is a short term gain, but if you have a 1000 doors to fill and the FE's are still due I'll bet they do whatever they have to do for gross dollars. I believe AI is going to get smart about this and stop showing these as organic or will tell the consumer about the risk of the low price it is showing them. Google does not want the user experience to feel like they were mislead by Google. It is called a race to the bottom for the rest of the industry. Our system increase rates each 12 months when a renter has not had an increase and we give then 45 days to stay, ask us for options or move. Every business needs to also understand that their cost will go up each year just to keep up with inflation and that alone does make it necessary to increase the prices just to break even. Great subject and thanks for sharing.
This is great, addressing a very real situation in the business, people are doing their own research as well. Honesty goes far.
Nice info. My RV storage I have customer in Mind. I haven’t raised rates since Covid. I learned to make them happy . I have no vacancies. Steady income.
Maybe I should raise rates . I feel I’m in the market rate
Right on!
1. Transparency will win the day. 2. Your brand is your reputation for the long game. 3. Just because you can doesn't mean you should. For small operations being up front with the move in deals works way better than the undisclosed 70/30 rule being used by the big operators. This is a short term gain, but if you have a 1000 doors to fill and the FE's are still due I'll bet they do whatever they have to do for gross dollars. I believe AI is going to get smart about this and stop showing these as organic or will tell the consumer about the risk of the low price it is showing them. Google does not want the user experience to feel like they were mislead by Google. It is called a race to the bottom for the rest of the industry. Our system increase rates each 12 months when a renter has not had an increase and we give then 45 days to stay, ask us for options or move. Every business needs to also understand that their cost will go up each year just to keep up with inflation and that alone does make it necessary to increase the prices just to break even. Great subject and thanks for sharing.
Glad it was helpful! You are totally right. The value of reputation cannot be overstated