As we all know that discounts decreases a facility's revenue , it should be best handled like a flu shot, short and quick.
Offer your tenants the discount all up front. If you have to, give them the second month free, and then it goes back up to full price.
The facility owners are always thinking of the self storage's current worth, even if they aren't planning to sell. Keep in mind that for every dollar discounted on a monthly basis, the business looses approximately $150 of worth.
As for your existing customers, don't make any apologies, if you have not increased their rents in a while, and they complain, maybe try the following.
1. Tell them that operating costs of your facility goes up in the form of property taxes, maintenance, wages, and hydro
2. Remind them that you have not increased their rents in a long time, and it is normal for companies to adjust for normal inflation. They are probably paying more for bananas than they were 5 years ago.
3. Remind them that you offer great customer service. If you can, highlight how you have gone above and beyond for them. But make sure they know you appreciate their business.
In short, most tenants will gauge your reaction to the rent increase to set the tone for the conversation. If you sound apologetic, they'll make a big deal out of the $5 per month increase.
With all the above tips on how to increase your revenue by removing your existing discount plans from your unit, 6Storage helps you to remove your discount plans by doing these simple steps.
Step1: Navigate to the operation tab select the units to remove the discounts from. Click on the More button and choose the Assign/Remove Discount from the drop down.
Step2: In the resulting popup select the Remove discount option.
You can now see the number of units selected along with the name of the discount plan.
If you want the discounts to be removed from the existing lease then enable the check box that says “ Remove discount from existing lease as well” .