The Impact of Large Self Storage Operators On Rates And The Industry

The Storage Playbook By Atomic Storage Group

In this episode, Rick Beal and Megan Smith discuss the impact of large self-storage operators on rates and the industry. They explore the consolidation happening in the self-storage sector, where major players are acquiring smaller and larger facilities at an unprecedented rate. This consolidation has resulted in a marketplace where a few companies have considerable influence over pricing structures. The hosts also discuss the implications of this trend for consumers and small owner-operators. They emphasize the need for owner-operators to adapt to the changing industry landscape and provide strategies for navigating rate games and handling rate increases.
Takeaways

• Consolidation in the self-storage industry leads to a marketplace where a few large operators significantly influence rates and pricing structures.
• Small owner-operators face challenges in marketing, revenue management, and compliance with new regulations.
• Owner-operators must focus on local presence and connections to compete effectively in their markets.
• Playing rate games and implementing revenue management strategies are crucial for owner-operators to stay competitive.
• Handling rate increases requires effective communication and education to help tenants understand the reasons behind the increases.

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