Most storage owners are catching up with the times and understand that they need to have a way for customers to rent storage units online.
But did you know that there is a difference between an online rental and what we call an online move-in?
Just looking at the question of online storage unit rentals as a binary, “I have it, or I don’t have it,” is missing out on multiple important parts of the conversation!
In this article, we’ll give some quick stats on the importance of online rentals and break down what it means to enable online rentals versus online move-ins.
How important is an online rental capability?
To put it as simply as possible, your customers demand a convenient experience. And for most modern consumers, the ability to complete a purchase online without leaving their homes is one of the ultimate conveniences.
Here are some stats to recap how important online rentals really are:
So basically, we know that consumers desire online options, we know that online options are more convenient, we know convenience is important to self storage customers, and we know nearly half of our customers find us online.
All of these facts come together to make a compelling argument that the industry has accepted at large: You need a great website, and it needs to allow customers to rent online.
So where do online move-ins come in?
It probably goes without saying what an online self storage unit rental is. But what is an online move-in when it comes to storage?
Online move-ins mean that a customer can do all of the following online without ever stepping foot on your property or talking to a manager:
Basically, an online self storage move-in is taking online rentals to another level. They allow a customer to rent online and then move their items into a storage unit without ever dealing with a member of your team.
For some operators, this is a scary concept. For others, it’s a dream.
The benefits of having online rentals range from freeing up managers to do other things around the facility to enabling customers who prefer contactless experiences to do business more comfortably.
Taking a look at the hospitality industry, as many as 73% of customers prefer online check-ins at hotels—that is, being able to arrive at the hotel and enter their room without ever visiting the front desk.
Online move-ins may not be right for every facility, though.
As with most choices, the right move for your storage business comes down to what works best for you, your team, and your market.
No one can really say what the best decision is for every single facility.
From funding to your customers’ preferences to the capabilities of your team, whether you choose online move-ins or basic online rentals involves too many small factors that only you can truly have a pulse on at your storage facility.
However, here is some basic guidance that can help you make an objective decision.
To start, every facility should probably strive to have online rentals at a minimum.
It’s true that some facilities may not be well-equipped to handle online rentals right now. If that’s your facility, that’s alright!
This should be a goal for you to reach, though. The data is pretty clear that not having online rentals is a missed opportunity.
When it comes to choosing between online rentals and online move-ins, you may want to stay with basic online rentals if you’re in a high-crime area, have suffered many issues related to false identities or criminal activity in the past, or if you’re doing well and just want that extra bit of connection from meeting your customers face-to-face.
You may also consider sticking to online rentals if you’re experiencing low occupancy. Requiring extra steps during the online rental can lead to a lower conversion rate, and that means fewer rentals.
Online move-ins can lead to lower conversion rates due to extra steps required to rent, but they can also enable new business models such as remotely-managed properties or 24-hour facilities.
If you are looking for a more hands-off or automated business model, online move-ins are a necessity.
While we wouldn’t advise taking this approach during your lease-up phase due to the lower conversion rates, facilities with a stable (and acceptable) occupancy can benefit from allowing customers to complete move-ins on their website.
Want to stay on top of your storage game in the face of tough competition? Check out these resources!
At StoragePug, we build self storage websites that make it easy for new customers to find you and easy for them to rent from you.
