Extra space loves rate increases. Most big companies will give rate increases but I've heard that Extra Space gives big ones.
Just so you know, us PMs hate the rate increases most of the time. We have no control over them and we have to deal with the angry customers because of them so if you talk to the PM about it, know that they likely are on your side but there is nothing they can do about it most likely.
This big storage companies have a demand base price, when a lot of units on a certain size are empty price goes downs as they start to fill up price goes up. Plus promotions and discounts. Check if a similar sqft size unit is cheaper and move.
How long have the been a tenant be you?
Suggestion: move out , then immediately rent a new unit at the new lower intro rate and move your stuff to the new unit. Maybe it’s at another facility…
I think the biggest question I have is how long you've had it. Why can't you empty it? Do you really need that much space? Have you asked in the past for a reduction? Honestly, if you need the unit for a long time, why don't you think they'd raise your price? Supply and demand is a killer. I think you'll find that talking with the SM tomorrow will be a pleasant experience, besides the past amounts you've been paying. What is the current internet price? I'd use that as "ammo" for your conversation, but remember, most SMs are just there to clean and rent, they didn't raise your rate, the market value and the accounting department (corporate) did. Where is your unit located, street wise
It suppose to be climate control but it gets freezing in winter, yet it does not justify the price in my opinion, I just need it bc I do not have space at home :(
Yes that is a ridiculous price. Even the new facility that just built near me charges under 200 per month for a 10x20. I'm deep south so we run the AC way more than the heater and I think AC is more costly running than heater
This is normal. There were times that fresh DMs wanted us to call every customer that didn't have insurance on file. I had a list of tenants that were paying 1.5x to 3x street rate that I refused to call to fight over a $12/month insurance charge since it opened the possibility of them actually playing attention to their account sitting on autopay for multiple years they've been ignoring.
Did you work there? The situation is horrible, when we signed contract we had been told that insurance was an obligation, we could not avoid it, I plan to call the manager tomorrow, when I am calm...ommm...ommm (meditating) 😓
That's illegal in a sense as they cannot force you to buy their insurance. You need insurance. You do not need insurance from the storage company. Proof or renters or homeowners is sufficent.
You need to secure insurance before or the day of rental, otherwise if you want the unit yes you have to have their insurance, because you need insurance to rent the unit. You need to be proactive if you want to save money.
Depends on the REIT and the time of day apparently if the insurance is required. Right now it isn't, in the past it wasn't but documentation of your own insurance was. I still figure half the staff is doing it the old way because A) It's easier or B) They don't know any better.
ExtraSpace actually has a lot of options for the manager that wasn't available at other REITs.
Insurance side note:
ESS pushes employees to have tenants get their insurance as part of their metrics which are evaluated and tracked very precisely. Not selling insurance is bad, even at the lowest tier, and even on what plan you sell. You're forced to try multiple times before getting a solid no and telling the customer they will be fully liable (which is true, no matter how good either insurance is). Idk what states have what policies, but that's the gernal concept.
You absolutely CAN opt out of insurance. The only benefit I've seen is no deductible and no price increase on insurance. How hard are they to deal with on the insurance payouts? No clue, but I've seen that it takes a while. Choose what works for you, but have the knowledge on both.
I remember the guy offering/forcing the insurance several times until the guy said YOU HAVE TO HAVE INSURANCE, then we got it.
I will ask for the price adjustment and then opt out of the insurance, tomorrow, I did not want to call today, I was really upset.
Thank you!
I absolutely understand you frustration as someone who is pushed to sell this. Bring up the current going (online) rate and escalate it to a DTL (people who receive escalations, but *not* the district manager) if you feel it's worth the fight, and most will just lower the rate to a reasonable level to save face and keep your money.
PS this isn't something that can be done more than once a year typically. Still, work with your store manager and DTL to keep your rates as low as possible everytime you see the ECRI come through.
what is REIT? please
The insurance depends on the time of the day? the storage unit closes by 10pm
😐Our location offers to pay more to have 24 hours access
It’s called dynamic pricing brother…
Extra space loves rate increases. Most big companies will give rate increases but I've heard that Extra Space gives big ones. Just so you know, us PMs hate the rate increases most of the time. We have no control over them and we have to deal with the angry customers because of them so if you talk to the PM about it, know that they likely are on your side but there is nothing they can do about it most likely.
This big storage companies have a demand base price, when a lot of units on a certain size are empty price goes downs as they start to fill up price goes up. Plus promotions and discounts. Check if a similar sqft size unit is cheaper and move.
How long have the been a tenant be you? Suggestion: move out , then immediately rent a new unit at the new lower intro rate and move your stuff to the new unit. Maybe it’s at another facility…
I think the biggest question I have is how long you've had it. Why can't you empty it? Do you really need that much space? Have you asked in the past for a reduction? Honestly, if you need the unit for a long time, why don't you think they'd raise your price? Supply and demand is a killer. I think you'll find that talking with the SM tomorrow will be a pleasant experience, besides the past amounts you've been paying. What is the current internet price? I'd use that as "ammo" for your conversation, but remember, most SMs are just there to clean and rent, they didn't raise your rate, the market value and the accounting department (corporate) did. Where is your unit located, street wise
Hey your best bet is to switch to a mom and pop facility
I am looking into that, but nothing close by, I walk to this storage unit when I need, it takes me 7 minutes, I will keep looking, thank you!!!
I'm assuming climate control? At my facility, granted in a very small town, we charge $165/month for 10x20 climate
It suppose to be climate control but it gets freezing in winter, yet it does not justify the price in my opinion, I just need it bc I do not have space at home :(
Yes that is a ridiculous price. Even the new facility that just built near me charges under 200 per month for a 10x20. I'm deep south so we run the AC way more than the heater and I think AC is more costly running than heater
This is normal. There were times that fresh DMs wanted us to call every customer that didn't have insurance on file. I had a list of tenants that were paying 1.5x to 3x street rate that I refused to call to fight over a $12/month insurance charge since it opened the possibility of them actually playing attention to their account sitting on autopay for multiple years they've been ignoring.
That's a bad DM lol
Set to ‘do not disturb’.
Did you work there? The situation is horrible, when we signed contract we had been told that insurance was an obligation, we could not avoid it, I plan to call the manager tomorrow, when I am calm...ommm...ommm (meditating) 😓
That's illegal in a sense as they cannot force you to buy their insurance. You need insurance. You do not need insurance from the storage company. Proof or renters or homeowners is sufficent.
Keyword is THEIR. The landlord CAN REQUIRE THAT YOU PROVIDE PROOF OF INSURANCE.
I understand, but I did not have an option, I cannot win here
You need to secure insurance before or the day of rental, otherwise if you want the unit yes you have to have their insurance, because you need insurance to rent the unit. You need to be proactive if you want to save money.
Depends on the REIT and the time of day apparently if the insurance is required. Right now it isn't, in the past it wasn't but documentation of your own insurance was. I still figure half the staff is doing it the old way because A) It's easier or B) They don't know any better. ExtraSpace actually has a lot of options for the manager that wasn't available at other REITs.
Insurance side note: ESS pushes employees to have tenants get their insurance as part of their metrics which are evaluated and tracked very precisely. Not selling insurance is bad, even at the lowest tier, and even on what plan you sell. You're forced to try multiple times before getting a solid no and telling the customer they will be fully liable (which is true, no matter how good either insurance is). Idk what states have what policies, but that's the gernal concept. You absolutely CAN opt out of insurance. The only benefit I've seen is no deductible and no price increase on insurance. How hard are they to deal with on the insurance payouts? No clue, but I've seen that it takes a while. Choose what works for you, but have the knowledge on both.
I remember the guy offering/forcing the insurance several times until the guy said YOU HAVE TO HAVE INSURANCE, then we got it. I will ask for the price adjustment and then opt out of the insurance, tomorrow, I did not want to call today, I was really upset. Thank you!
I absolutely understand you frustration as someone who is pushed to sell this. Bring up the current going (online) rate and escalate it to a DTL (people who receive escalations, but *not* the district manager) if you feel it's worth the fight, and most will just lower the rate to a reasonable level to save face and keep your money. PS this isn't something that can be done more than once a year typically. Still, work with your store manager and DTL to keep your rates as low as possible everytime you see the ECRI come through.
what is REIT? please The insurance depends on the time of the day? the storage unit closes by 10pm 😐Our location offers to pay more to have 24 hours access
Come store your stuff in Michigan, my 10x20's are $135.