Unit Push Rate/Tenant Rate Optimizers

ChrisRobinson

Hello my fellow Storage Manager, Operator, Rolley Chair warrior. I was wondering if any wisdom could be shed on these two tools and how you've found them benefiting, or the opposite for your site? I'm in the process of overhauling/automating 2 storage facilities for this company and my background comes from Maintenance/Military so any knowledge would be great to ease the learning process. 

Bonus Question: What is your work playlist consisting of? Mine is mainly Indie Folk acoustic mixes and Incubus. 

Thank you!

helenatim

I don't do Push Rates, but I use TRO constantly. I set it to 90% occupancy,  315 days since last increase, and increase tenants rates to standard price.  I don't tend to increase rates more than $10 at a time or more than once a year.
In our current soft market I am not increasing tenants rates over market price regardless of time at the facility and in some cases I am not raising rates at all.  I don't think small increases will cause move-outs, but right now I want to hold on to all customers.  This might change in the spring if things pick up.

Bonus question answer: Billy Strings, some Americana, and whatever my kid likes. And the Chris Robinson Brotherhood

MamaDuke7

I use both.  Push rates have me usually renting substantially over my standard rate because of supply and demand...but will drop if demand drops and supply increases.

In the last couple months, I have turned off tenant rate management because we needed a pause.  But I have it set to any unit size 100% occupied (most of them) at 340 days to raise 9.5%.  That way, the letter goes out so that at 1 year, they increase.  And I don't have to do anything except process the letters when Sitelink tells me to!

ChrisRobinson

helenatim said:

And the Chris Robinson Brotherhood

Good Answer, hahaha. My dad's best friends wife used to take me out and tell everyone I was his son. ha

helenatim

I am now using Push Rate, but I am having a problem.  When a tenant rents a unit at a Push Rate discount, SL resets the Rates on that sized unit to Standard for the rest of the day. It then resets in the morning to the discounted Push Rate.  I maybe have something setup incorrectly, but there are not that many settings.  Looking for some help on this. @MamaDuke7 come to my rescue please

MamaDuke7

helenatim said:

I am now using Push Rate, but I am having a problem.  When a tenant rents a unit at a Push Rate discount, SL resets the Rates on that sized unit to Standard for the rest of the day. It then resets in the morning to the discounted Push Rate.  I maybe have something setup incorrectly, but there are not that many settings.  Looking for some help on this. @MamaDuke7 come to my rescue please

I've never had anything like that happen.  Yikes.  I ONLY use push rates.  It does sometimes change after a rental, but that from the calculations and isn't to the standard rate, just if it moves to a different level in the push rate chart.

helenatim

MamaDuke7 said:

helenatim said:

I am now using Push Rate, but I am having a problem.  When a tenant rents a unit at a Push Rate discount, SL resets the Rates on that sized unit to Standard for the rest of the day. It then resets in the morning to the discounted Push Rate.  I maybe have something setup incorrectly, but there are not that many settings.  Looking for some help on this. @MamaDuke7 come to my rescue please

I've never had anything like that happen.  Yikes.  I ONLY use push rates.  It does sometimes change after a rental, but that from the calculations and isn't to the standard rate, just if it moves to a different level in the push rate chart.

It's a strange situation. To be clear, I am trying to offer lower rates thru the Push Rate setup, not higher rates.  I think I need a tutorial on Push Rates but can't seem to find one on this site.

MamaDuke7

To be lower, in the setup it needs to be negative numbers in the chart, like the bottom right ones here.

sonyawiprud

This is a great topic! Thanks everyone for sharing! My current music in the office is top 40, and old school 80's and 90's on shuffle. 

helenatim

Thanks @MamaDuke7!  I finally figured that out a 5am on Monday, created my own Plan, and its all working just the way I want now.

MamaDuke7

helenatim said:

Thanks @MamaDuke7!  I finally figured that out a 5am on Monday, created my own Plan, and its all working just the way I want now.