What does a healthy Wait List look like?

MaggieK

I am wondering what a healthy wait list looks like. How many people and how far ahead should we be taking reservations?

Orkocean

Personal preference, having a wait list at all isn't healthy. It means you have more demand than supply so your rates are probably lower than the market is willing to pay which means you are leaving money on the table.

David_McCormack

I agree Orkocean.

In my mind MaggieK, a waiting list means you have people waiting to pay more than your current tenants are paying for that same space.  We have a great Webinar on SiteLink Price Optimizer you can check out. It explains our tool which allows you to adjust street rates real time based on your unit availability (by type). These price changes are fed real time to your website and Web Edition/myhub.  

In my opinion the theoretical goal is to always have one unit of each type available (empty) which will be rented out at the maximum rate your market will accept. Obviously this goal is impossible to maintain, but aiming for it should boost revenue significantly.