There are many reasons why an owner might want to consider a third-party management company. Owners should consider a third-party management company if they are new to the industry, looking to expand, or scaling back and looking for someone to take care of their property. Global Self Storage works closely with each owner to discuss the owner's situation and goals to find the best outcome to maximize profits. Owners that are interested in hiring a third-party management company should think about their own expertise and time in relation to a third-party management company's experience and past performance, vendor sources, and scalability. Owners should consider qualitative factors when considering a third-party management company's attractiveness but also quantitative performance results to determine competency and subsequently decide what company will be able to manage a property best.

Owners should look for a third-party management company that consistently delivers top-ranked performance results. Almost all third-party management companies will talk about how they can reduce hassle, increase occupancy, and/or can run the facility better than the owner, but owners should look at the bigger picture to find a company whose vision, mission, and values align with the owners' short and long-term objectives. Occupancy is only one component of the operator success equation. Owners need to look at the sophistication of the third-party management company’s operations, including the strength of its online presence and digital marketing, ability to drive rates and achieve optimal high occupancy, local managerial staff availability and experience, and corporate support. When selecting a third-party management company, it is important to understand how the management company operates. A good management company will have a proven system in place and significant expertise leading to demonstrated success and positive performance results.

Global Self Storage is interested in managing both existing and development properties. If you have a development property, it is preferable to become involved in the process early on, so that we can serve as an operational consultant to advise on unit mix, signage, marketing, technology, and other factors and considerations. 

We typically do not have any strict geographic or size limitations when considering suitability for management, but we want to make sure that the property and our platform will mix well so that we can help the property succeed. We will determine suitability for management based on Global Self Storage's mission—we seek to manage properties where our highly-effective professional management and best practices can improve operations. At the same time, we are always open to discussing the potential of managing any property.

Absolutely! Creating strong partnerships is extremely important to us and given the scope of our operation, we make no distinction between wholly-owned, joint venture, or third-party managed properties. While we review every property individually when it comes to optimizing operations and marketing efforts, these considerations and the review methods will be the same across all properties. Once a property is integrated, it will be considered a Global property and third-party owners will benefit from our strong brand.

The transition time can only be defined on a case-by-case basis. Our team works closely with the owner to make sure that the transition is seamless and integration happens smoothly. Contact us for more information. 

Set up costs are charged to the property on a need-based basis and vary for every property. In many cases, the necessary items are already available at the site and new items are not necessary. In addition, set up costs may, from time to time, be shared by Global Self Storage. Breakdowns of set up costs will be provided to the owner prior to any engagement.

We will put together a customized budget for your property to illustrate what your costs would be. We can also give you a projection of occupancy, discounts, and revenues under our management platform. Using results from comparable properties, we can accurately forecast your costs and potential cost savings. Global Self Storage will handle the accounting for your property. We can provide you with sample financials to demonstrate what is provided to third-party owners and accounting reports can also be emailed per your request. Owner distributions are typically done by ACH to the owner’s preferred bank account unless otherwise requested.

By partnering with Global Self Storage, third-party owners will benefit from the strength of our brand and our national presence and prominence. As part of transitioning your property to Global Self Storage and integrating with our brand, certain set up and branding elements, including exterior signage and interior branding and marketing assets, will need to be addressed and/or changed. Set up costs can vary based on the property. 

Yes, we will definitely consider current site managers and staff if the property becomes managed by Global Self Storage. We realize that current managers might already have developed important knowledge about the property and created relationships with current customers, and this will be considered when evaluating property managers'  experience and fit.