
What Are You Selling And What's It Worth? - Self Storage Fundamentals Part 3
We rent empty space, a box of air with metal walls and a concrete floor. But not all of it is worth the same. Part 3 of Self Storage Fundamentals takes what you learned about your competitors in Part 1 and your customers in Part 2 and turns it into pricing: what you're selling, and what it's worth. We start with the product itself, the sizes and names people actually search for. Then we walk through setting a street rate, grading your units, and giving customers three options on the same size instead of one. A few of the things we get into: How to fold an odd 9x10 or 10x11 into your 10x10 listings without confusing anyone Calling your units what people search for Why occupancy drives your rate once you're stabilized Walking the property to grade every unit, and why managers rent the unit closest to the office first Value, standard, and premium on the same size, with the rate you really want in the middle Why "call for pricing" sends people to the next facility Your homework: walk your property, find where the value is, and name it. Two tiers is fine if that's what your units support. Then look at the discount on each size, and if one still isn't moving, try a different kind of discount. Raising rates on existing customers comes later in the series, in Part 11. CHAPTERS: (00:00) Welcome to Part 3 (01:00) What We've Been Up To (04:12) What Is Value Pricing? (06:03) Keep Sizes and Unit Names Simple (09:45) Odd Sizes and Unit Labels (14:20) Setting Your Street Rate (18:02) Not Every 10x10 Is Equal (22:10) Good, Better, Best Pricing (25:58) Discounts That Fit Your Market (28:58) Give Them a Choice of Terms (30:54) Publish Your Rates (32:05) How You Know It's Working (33:21) Your Homework (36:02) Our Recommendation: Go to a Show (37:15) Next Time: Boat and RV Parking Next time is Part 4, a deep dive on boat and RV parking. If you're planning your year, here are a few events we'll be at and recommend attending: Register for The Big Ideas in Storage Conference in Texas - Register Here Register for MSM's The Show using code LSS2026 - Register Here Hosts: Josh Huff & Melissa Huff Produced by Lighthouse Storage Solutions















