COVID-19: Strategic Pricing Options for Self Storage Operators
The current health crisis has dramatically changed the way self-storage operators need to conduct business. A myriad of differing state pricing regulations has made it difficult for self-storage operators with stores in multiple states to manage prices and rent increases. All the while, business expenses continue unabated. Broadly speaking, self-storage operators have adopted one of…
Read MoreA Confusing State of Pricing Affairs
As states-of-emergency were declared in each of the 50 states in the US, a variety of pricing-related regulations took effect. Each state has its own specific rules on how much businesses can change their prices. In some cases, regulations are quite specific while others, they require a certain amount of interpretation. We note a number of…
Read MoreCOVID-19 Impact on Self Storage Rent Increases
Many businesses are facing particularly challenging times. Exogenous shocks such as COVID-19 have direct, powerful impacts on the revenue management efforts of companies across many industries. Banks are foregoing service and penalty fees. Airlines are waiving rescheduling fees. Car dealers are discounting heavily. Self-storage operators are no different. Whether they have more, or just different…
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