Rate Optimizations

If your state does not have any restrictions currently due to covid are you still processing Rate Optimizations?  If so do you use a dollar or a % amount?  It's been a long while (several years) since any past tenants have had a rate increase.  Was going to do this right before Covid hit but held off.  Just wondering if it's still too soon.  I have several below street rate, very few late and I'm full.

Comments

  • MamaDuke7
    MamaDuke7 Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    I still have my rate increases turned off even though it's legal here as long as it's not more than 10% (I do 8%).  I think that customer good will is more important.
  • i43storage
    i43storage Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    We are starting our rent increases again starting September 1.
    Jean Marie
    I-43 Storage
  • ESS
    ESS Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    We have not decided to do rate increases. Also, we have been getting business from tenants coming from other facilities in our area, due to them raising their rent.

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