November 7, 2022
When operating a storage facility, an owner needs to pay attention to both the physical condition of the property as well as the operational aspect of the property. The physical condition of the property helps drive the operational side of the business. A property that is well maintained, is attractive to potential tenants which will help an owner drive higher rates as well as reduce overall operating expenses by avoiding large unexpected repair or replacement bills for neglected equipment.
Paying attention to the details and taking care of daily, weekly, monthly and annual maintenance tasks will help drive traffic to the property, increase rates, decrease operational expenses and increase overall value. When the owner is ready to sell or refinance the positive reflection of the care and attention the owner gave the property will be shown on the P&L which will reflect the higher revenue and net operating income achieved by this consistent attention to details.
Tenants willing to pay a premium, top of the market rate for their storage unit, want to see a facility that is well lit, trash free environment with working doors, security and gates. Believe it or buyers willing to pay a premium for a facility care about the same thing. Yes, income and NOI are very important but they want to see a property that requires little to no money to be expended after closing on deferred maintenance.
So, we found a great maintenance schedule in the November 2022 issues of ISS Inside Self Storage Magazine that will work for most facilities. Check it out below! Link provided to download PDF of full list – Maintenance Schedule
|Sample Facility – Maintenance Schedule|
|Weekly||Weeds||Spray, check buildings/fence|
|Monthly||Gates||Inspect, clean, oil chain|
|Pest Control||Spray inside and out, check rodent boxes|
|Doors||Check stops, latches, handles|
|Quarterly||Roof/Gutters||Clean out, repairs|
|Carts/Collies||Clean and check wheels, bolts, handles|
|Lighting||Check all bulbs and signage|
|Lawn Sprinklers||Turn on/off, check heads, winterize|
|Fencing||Check for weeds, repair, paint|
|Annually||Driveways, walkways||Pressure wash, repair, caulk|
|Bollards||Replace covers and/or paint|
|Signage||Clean, repair, replace|
|Fire Certification||Call for renewal, test|
Ross, Anna. “Insider Maintenance Secrets: A Solid Strategy for Keeping Tasks on Track.” ISS Inside Self Storage, Volume 31, Issue 11, Nov. 2022, 18.
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