Being successful with any self storage property involves providing top quality services and products, hiring the best and most effective staff, and knowing how to combine both of these aspects into one complete package. Storage Management Associates approaches storage facility management in many ways. Learn more about our individual services below or contact us at firstname.lastname@example.org.
At SMA, we start with the people. Finding the right staff for your storage facility is the most important step toward the successful management of your property, and our talent search knows no limits. We accept resumes regularly, and we also listen to people in the business so that we can locate outstanding performers. We visit properties personally to observe those we consider to be top candidates, and we always focus on selecting the best fit for whichever property or area we are recruiting for. Our most sought after potential management personnel demonstrate a passion for the self storage business, and are willing to receive the proper training and tools from us that generate success. We train new employees on-site with our management team and take them through the day-to-day operating procedures. SMA does not finish with a newly hired staff member or team until we are certain that they are fully prepared in all facets of the industry and completely understand our operating policies.
All of our self storage properties are equipped with property management software that was either in place already, or was acquired and installed upon the arrival of our property management team. Our facility managers receive hands-on training for all software and hardware systems, and are fully capable of providing timely reports as required by either our home office or the storage facility owner. These computer systems are continually monitored for proper use and the application of management functions, ensuring compliance with the appropriate operating standards.
At SMA, we believe in the necessity of a strong marketing program. We apply this principal idea to our respective storage facilities based on several factors, and use researched demographics to target the self storage market. The underlying truth is that if we do not market our product, our businesses will not be successful in the industry. Using techniques that include cold-calling, networking, word-of-mouth promotions (including referral rewards), advertising and other efforts, we make certain that marketing is always at the forefront of our leasing efforts. We train our managers to use appropriate selling techniques both in person and on the phone, and we use "shopping" techniques to monitor their progress. We customize marketing programs to fit the needs of each individual property, and we use the internet to establish and maintain web pages that advertise and sell our product. From brochures and flyers to business cards, yellow page design and signage, we make every effort when marketing your property to all potential customers.
Accounting & Administration
The accurate and timely reporting of information is critical for any business to be successful, and effective reporting begins with proper internal accounting controls. This involves checks and balances with deposits, lease files, purchase orders, physical lock checks, and more. At SMA, we require that all of our storage properties make deposits daily and report to our centralized accounting department in Dallas, Texas. We study cash balances to the penny every day so that potential irregularities aren't discovered at the end of the month, but are detected when they occur.
Operating statements, including balance sheets, revenue statements and trend operating reports, are distributed to each storage facility owner monthly. All supporting journals, ledgers, and bank account reconciliations are a part of the package, if desired. We also report storage unit and square footage facility occupancy weekly along with property traffic reports that include yellow page calls, internet hits, drive-bys, tenant referrals and more.
Our experience in the storage industry has enabled us to develop multiple vendor contacts that allow us to operate properties in a cost efficient manner. Our contacts assist with many different aspects of the business such as credit card processing, property insurance, security equipment and service, industry software, moving supplies, and self storage construction materials and contractors.
Additionally, we have been involved in real estate assessments for over 10 years. Typically, this is the largest expense incurred by a self storage facility. It is critical to review our evaluation, so that we can show you how to efficiently present your cost and operating information to various appraisal boards in the most effective manner to ensure that you receive the lowest possible evaluation for real estate tax purposes. We have saved our clients thousands of dollars over the years by professionally working all of the angles on assessment reductions.
Ultimately, effective accounting and administration depends on professional organization and experience. At SMA, we are uncompromising in our attention to detail, and our track record speaks for itself.
Property management cannot be successful without a reoccurring on-site evaluation of each individual self storage facility. At SMA, we guarantee that every storage property that we manage is conducting business at its full potential. Regularly scheduled visits to each location are made by upper-level management representatives for the purposes of auditing performance and ensuring compliance with operating procedures. We also perform door-to-door storage unit lock checks routinely, and review individual rental agreements for comprehensiveness and discount concessions for appropriateness. Petty cash and change funds are audited, and a storage facility maintenance and cleanliness check is also conducted. Additionally, every facility manager is required to send a brief, daily email to the home or regional office that includes an overview of the daily operations. For security, many locations are monitored through the use of on-site surveillance cameras that are linked to the internet, and remote access is installed in most computers for added assistance and overview processes. Because SMA gives our all to improve your business, our management teams do the same, and as a result, your property reaps the rewards of consistence and thorough upper-level supervision.
Every storage developer should always determine the strengths and weaknesses of a prospective business venture before deciding to commit investment dollars. Knowledge is power, and you must be informed to be successful in the self storage industry. Too often, consultants tell clients what they want to hear. At SMA, we do not. Our company conducts professional and honest analyses for storage facility owners and investors that include: demographic information, quantity and location of competition, rate analysis, objective demand analysis, population statistics, traffic counts, pro forma financial statements, and more. Please contact us for a specialized and direct feasibility study of your proposed self storage site.
As a firmly entrenched business in the self storage industry, we are well experienced to assist you with buying or selling a self storage facility. Our professional connections with the brokerage industry ensure that we will guide you and your business toward success.