Get Ready for the Upcoming Busy Season With Omnichannel Rental Solutions
Omnichannel Rental Solutions
As the weather gets warm, we’re fast approaching the self storage industry’s busy season.
Overall, the spring and summer are the most active times of the year for the self storage industry. With people preparing to move, storing seasonal items, or getting an early start on their spring cleaning, there is an increased interest in self storage. For this reason, people are looking for solutions to store their seasonal items and make more room for summer activities.
Is your self storage facility ready for the increased business that’s coming your way? Are you prepared to meet the high standards of today’s consumers by giving them the convenience of being able to rent how, when and where they choose?
If not, XPS Solutions offers the perfect piece to add to your omnichannel puzzle: RentUp, an online rental platform that provides your customers with the ease of renting storage online from any mobile device
Are you aware that 70% of customers say they would pay more for convenience and 75% would switch companies for a more convenient lease process?
Are You Ready With Omnichannel Rental Solutions?
Creating an integrated and unified customer experience is what omnichannel is all about. It doesn’t matter which channel or platform your customers choose, they should receive a consistent level of service. Whether they are using a laptop, ordering by telephone, or visiting a physical store, their experience should be painless.
With an omnichannel marketing plan in place, you will be able to connect with your customers in their preferred environment. This means that they no longer have to make an effort to find you. You’ll be a single click, email, direct message, or phone call away, no matter where they are.
With RentUp, as part of your customer’s omnichannel solution, your customers will have the ability to lease self-storage from anywhere and on any mobile device.
The following case study will illustrate how the XPS RentUp solution worked for one of our valued customers. They raised the conversion rate of prospects, minimized the time needed by on-site facility managers, increased occupancy in a shorter period, and left customers with a more positive experience.
A nationally-known producer and manager of premier Class A self-storage properties, Reliant Real Estate Management (Midgard Self Storage), needed assistance with several challenges:
- Inefficient new lease acquisition process
- Low lease conversion
- Lost lease opportunities
Within 60 days, XPS Solutions was able to secure 317 new leases over the phone. This resulted in an estimated $445k in rental income for the company’s facilities.
XPS Solutions handles up to ten thousand regular monthly calls for Reliant Real Estate Management, with hundreds of them from potential customers. Initially, agents from XPS Solutions persuaded these customers to use the facility’s website to lease space or directed them to the facility for an inspection.
The process of arranging an on-site visit before reserving a unit has been common practice within the self-storage industry for years. Yet, it does not cater to everyone’s needs. This can be inconvenient for both the facility operators and the many prospects who don’t have the time for a physical visit before leasing.
The last two years have had a long-lasting impact on how businesses operate, and the storage sector is no exception. Terms like “unmanned” and “remote managed” have become as familiar as “storage unit” or “self storage unit.”
People are asking for more convenient ways to handle the rental process. On top of that, the post-COVID economic conditions have made it difficult to find the necessary staff required to work in the locations that continue to use a staffed model.
In order for onsite interactions to take place, the facility must be open, an employee must be on-site, and the time must fit into the customer’s schedule. When someone calls for a tour and reservation, it can be a major disruption.
XPS Solutions offers a solution known as RentUp. The RentUp service integrates with many of the most widely used software management systems. When a prospect calls the facility, experienced agents begin selling the solution with the goal of getting a signed lease. They communicate the details of the property, such as the inventory, prices, terms, and details as if they were the facility staff.
When the prospect agrees to the unit size, agents send the lease electronically for signature. After signing the lease, it is logged back into the software management system and the facility has a new tenant. This service expedites the process of leasing units and reduces attrition by saving time for both the prospect and the facility.
In the initial 60 days of using RentUp, Reliant saw 317 completed rentals, eliminating time, energy, and effort for their staff. This resulted in an estimated $445k in rental income for Reliant Real Estate Management (Midgard Self Storage).
- Client Cost: $25 per rental
- Return on Investment (ROI): $1,400 per unit leased
- $7,925 overall cost provided
- $443,800 in rental
- 5.500% (ROI) in 12 months
As technology continues to evolve, the gap between online and in-person activities is shrinking, leading to a shift in human behavior. More people increasingly want to save time and energy with technology.
To stay competitive, self storage owners and operators have to continue to adjust their practices to maintain a single, complete, omnichannel experience that customers can access at any time.