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Setting Self Storage Starting Rates Based on Occupancy Self Storage operators commonly set their starting price, or rate, for vacant units based mainly on occupancy conditions. If units were highly occupied, the starting rate would be higher. Conversely, if occupancy was low, so too was the starting rate. Occupancy-based pricing is intuitively appealing and relatively easy…

Big Data is not always available, or practical. Many industries, where pricing and other data is abundant, use big data analytics to help model an “optimal” price.  They can use big data analytics to examine large, complex, and varied data sets.  Then, use the analysis to reveal pricing drivers, concealed patterns and correlations. But many…

Who should do pricing in self-storage? Pricing is such an important endeavor.  Yet organizationally, self-storage companies often find assigning the pricing role, accountability, and decisions tricky. This responsibility is especially an issue for large self-storage companies.  These organizations can manage hundreds or even thousands of stores. A core element of this decision often boils down…