Gabfocus Self Storage Podcast Incentivizing Your Managers
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Jul 25, 2025 Explore the crucial role of facility managers in the self-storage industry as they navigate the complexities of compensation and incentives. Discover what strategies to avoid and learn how to align pay with business goals effectively. The importance of training and setting clear expectations emerges as key factors for success. Hear about maintaining operational efficiency and optimizing revenue while fostering strong relationships with tenants. Plus, enjoy the lighter side of travel experiences that bring a smile!
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Avoid Overemphasizing Rentals
- Avoid incentivizing managers solely on rental volume to prevent sacrificing other important tasks.
- Focus on balanced goals to maintain overall facility performance and integrity.
Incentivize On Revenue, Not Metrics
- Incentivize managers on actual revenue rather than isolated metrics like occupancy.
- Teach managers how different income sources and expenses impact the facility's profitability.
Share Reports & Hold Reviews
- Provide managers full access to reports so they understand revenue and occupancy trends.
- Hold regular review meetings to align owner and manager perspectives on performance.