A Simple Solution to Save Time and Increase Revenue
XPS Solutions assisted Reliant Real Estate Management (Midgard Self Storage), a national developer and asset manager for premier Class A self-storage properties, in securing 317 new rentals over the phone within 60 days. This captured approximately $445k* in rental revenue for their facilities. Our solution substantially increased prospect conversion, reduced the time needed by on-site facility operators, filled vacant units faster, and positively impacted the customer experience.
XPS Solutions takes up to ten thousand general calls per month for Reliant Real Estate Management, with hundreds of those calls coming from prospects. Initially, XPS Solutions agents encouraged these prospects to use the facility’s website to lease or send them to the facility as a “reservation” for a walk-through. Although setting an appointment for an on-site visit before leasing has been standard self-storage industry practice for many years, this process does not meet every prospect’s demands for convenient and frictionless business. Ultimately, this can be inconvenient for facility operators and prospects who do not have the time for an on-site visit prior to leasing.
According to a recent customer experience survey from Shep Hyken:**
70% of customers would pay more if they knew the experience would be convenient
75% would switch companies if they found out a competitor's lease process was more convenient
68% say a convenient customer experience alone will make them return to a brand or company
80% are likely to recommend a brand or company to friends and family if it provides a convenient customer service experience
Evaluation of the case
As a residual effect of the past two years, pandemic-driven trends reshaped the way business is conducted. With self-storage, the terms “unmanned” and “remote managed” are as common as “storage unit” or “self-storage unit.” Customers demand new ways to make the rental process as frictionless as possible. Additionally, given the post-covid economic situation, staffing a location can be challenging for facilities still using a staffed model. To enable on-site interactions, the facility must be open, an employee must be on-site, and there must be a convenient time that aligns with the prospect’s schedule. When a prospect calls the facility and requests a walk-through and reservation, this becomes a significant inconvenience.
Solution - RentUp
XPS Solutions offers a service called RentUp that directly integrates with many of today’s most popular software management systems. When a prospect calls the facility, rather than making a reservation and hoping the prospect eventually appears at the facility, our highly trained agents begin solution selling with the ultimate goal of obtaining a signed lease agreement. Utilizing our integration, XPS Solutions agents act on your behalf to communicate available inventory, pricing, terms, and all property details as if they were you. Once a self-storage unit size is agreed upon, our agents send the lease electronically for the prospect to sign, the same way you would. Once the prospect signs the lease, it is logged back into your SMS system, and you have a new tenant.
This service quickly leases up units with one phone call, substantially reducing prospect attrition by eliminating valuable time for the prospect and costly time for the facility. Within the first 60 days of leveraging RentUp services, Reliant saw 317 completed rentals eliminating additional time, energy, and effort for their staff.
Kolin Van Dyne, Director of Operations, Reliant Real Estate Management LLC
"Despite the attempts of my team members to quickly follow up on the leads provided by XPS, we still failed to convert at a high rate. Because of this, I deployed XPS as a resource to complete the leasing process for us over the phone. Last month they captured 205 leases on our behalf!"
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