Market surveys are integral to running successful storage facilities. A self storage market survey is a poll of all surrounding competitors within a certain radius from the subject property. Generally, we use a three mile radius for our survey. We recommend updating the surveys at least every six months. We like to include rates of common storage sizes (5×10, 10×10, 10×15, and 10×20), discounts/specials, occupancy and other general notes. If you track this over time, you can track the trends in your market. This information can be used to raise or lower rates, according to your occupancy. It can also be used to keep your prices at the desired level of competitiveness, within your market.
Self Storage market surveys
Posted in Self Storage Blog