This blog was updated in 2025.
If you're new to storage and have read our Self Storage Investing blog, then you should already know the first steps you need to take to kickstart your self storage business.
Now, you'll be learning the next steps: daily operations.
The next steps are crucial as you can't make use of your facility if you don't understand basic operations. Streamlining your operations involves technology, rental management, managers, and more.
Once your resources are set up, operations should be smooth and automated, giving you more time to focus on other things.
While all of this may sound overwhelming, we'll break it down here and follow it up with our in-depth Self Storage Investing Playbook, made to turn beginners into experts!
When your facility is swept clean and ready for tenants, one of the first things you do is get your website and management software set up.
While some customers will find your facility through word of mouth, social media, or by driving by - many customers will find you via Google search.
In this day and age, it's necessary for businesses to have websites so local searchers can find them. And not only do they find you online, but customers often expect online services like rentals, bill pay, lease signing, etc.
The world lives online!
Your website will become the online face of your business, and it has the power to either attract or drive away customers. If you're not sure what to include on your website, check out our blog on the ideal website design!
Some of the most popular self storage softwares includes:
Each software has its own unique features and price. tag. Most of these softwares offer a trial run so you can get to know the program before making a final decision.
These two elements are essential for your business as your website and management software work together to provide an online presence while also streamlining tasks for operators and tenants.
Once you have your website and software up and running, it's time to tackle those storage unit rates.
You don't have to set up and manage your rental rates alone. Price optimization and rate management is a common feature for self storage software, so you should already have the tools you need to streamline this part of your business.
For example, SiteLink offers a Price Optimizer that lets operators update their price list, increase unit rates based on occupancy, and craft scheduled discounts, and more.
Discounting units can be a great way to attract customers, especially as a new facility with no reviews for customers to rely on. There are a variety of common discounts, like half off for the first 1-3 months, or providing the first month free. Whatever you choose, you can set this up in your software as an automatic mechanism for however long you want.
You may also want to consider other long-term discounts for military members, first responders, or seniors.
While self storage software can help with rate management, you should always do your own research on local competition to check their rates and compare them to your own. You can use these comparisons and value pricing to determine where your rates should start. Check out our rate management blog for more details!
However you choose to implement discounts or rate increases, your software system can help you manage this process so you can spend time on other parts of your business.
After your storage units are priced and ready to rent online, you may get a call from a customer asking, "Do you offer tenant-protection plans?"
These protection plans are similar to the kind of protection that is encouraged when you rent a new apartment. If you lose your apartment to a natural disaster, a fire, or a burglary, you can rely on your protection plan for recovery after the loss of your belongings.
Storage unit protection plans work the same way. With a protection plan, the customer enters an agreement with the business owner to pay an extra fee. If the tenant experiences a break-in, flooding, or another form of storage unit damage, then the storage operator is liable for providing recovery up to a certain value.
This can help you avoid conflict with an angry customer when they lose belongings as they will have relief knowing they'll receive some form of assistance.
Operators don't hjave to offer a tenant protection plan, but if you do, the plan details should be clearly outlined in your lease agreement or on a separate document entirely.
If you don't want to be directly liable for the loss of a tenant's belongings, you can partner with an insurance company like Storsmart or Bader. Tenant insurance forms a contract between the tenant and the insurance company, so when loss occurs, the tenant will go through the insurance company, not through you.
Some customers may not need additional protection as their home insurance policy might cover storage unit rentals as well. However, these policies often only cover a certain percentage of their possessions.
Whether you decide to offer protection or insurance plans is entirely up to you, but no matter your decision, your lease agreement should clearly define who is and who is not responsible in the event of storage unit loss.
When your facility is open and tenants are starting to move in, you may find that running an office and cleaning every storage unit on your own isn't ideal.
This is especially true for operators with multiple locations as it's impossible to be in two places at once. When the work starts to feel overwhelming, it's time to consider hiring a property manager.
If it's your first time hiring a property manager (or an employee), you first need to consider if this is something in your budget. Hiring a property manager means paying a weekly or monthly wage which can vary depending on your location. The cost of managing an employee also depends on whether you need full or part-time help.
You should always abide by federal and state minimum wage laws, and conduct research on the typical pay for property managers in your area. You should also consider whether you want to offer benefits and bonuses.
When you've decided if and what kind of help you need, you can post a job listing on several sites and begin accepting applications. You can find out what traits to look for, how to conduct an interview, and other helpful information in our blog on hiring property managers.
If you need even more help running your facility, you can do more than hire a property manager.
A third party management company is a team of self storage experts that help you manage your business from afar through a collection of services.
There are multiple third party management companies that cater to the self storage industry. Companies like Argus, Storage Asset Management, and Atomic Storage Group are just a few examples.
These companies can provide manager training, marketing, revenue management, reporting, and more. Their services will let you run your business nearly hands-free as the management company handles most of the daily operations.
Even if you have the time to manage your business, you may want to poke around these companies to gain more industry experience as these companies provide help from storage experts.
The right management company for your business will depend on how much control you want, what kind of communication you need, and what kind of budget you're working with. Most companies charge a certain percentage of your total business revenue, while others may offer a yearly flat fee.
When you're deciding which company to work with, it is critical that you discuss payment methods, contractual obligations, and other important details with each company to have a clear view of what will and will not work for you.
If you want to learn about the industry without having to hire a third party management company, you can always join national and local self storage associations.
These associations provide a variety of information including local and national self storage news, industry knowledge, and even legal resources.
Most states have their own associations that host webinars, luncheons, and other events for operators to network and learn about the industry. Some associations also post about industry news and send notifications about changes in local self storage laws.
SSA (Self Storage Association) is a larger association that hosts conferences multiple times a year across the country. They host educational events and trade shows with information that can sharpen your skills and broaden your knowledge as a self storage operator.
These associations often come with membership fees that vary in cost depending on your state or what level of membership you prefer. You can visit each association's website and call for information before deciding to join.
In this two-part blog series, we've covered a lot of ground. While you have the basic stepping stones of how to acquire a property and get your business up and running, there are still some finer details to know.
To recap, in this blog we covered:
If you want to dive deeper and learn about zoning, permits, and financing, you can check out our Beginners Guide to Self Storage Investing eBook below!
