305. Self Storage Secrets from 20+ Years of Ownership (100+ Facilities!) w/Kenny Pratt

Want to increase revenue at your self storage facility? Want tenants who will stay the longest and pay the highest rents? Today’s guest owns over 20 self storage facilities and has managed more than 100. He’s so good at what he does that we’ve even brought him on to help with our bigger facilities. In this episode, he shares his playbook for attracting the best self storage customers—and raising rents on tenants least likely to leave. 

Kenny Pratt has over two decades of experience in commercial real estate. He was the Director of Operations at LifeStorage, responsible for maximizing income growth. He knows the secrets of the REITs and proved it by starting from scratch with Crescendo Properties and Crescendo Self Storage Management. Now, he owns 25 self storage facilities and runs all of them successfully, even with REITs nearby.

What’s the optimal self storage customer? How do you get tenants to stay for longer? What are the “pain points” you can solve immediately to increase occupancy and revenue? And why should you never let your facility manager be the one making the sales? Kenny shares two decades of self storage secrets to put you on the financial freedom fast track with your portfolio! 

 

What you’ll learn in today’s show:

 

• Secrets that BIG facilities use to know who to raise rates on 
• The “rate lock” strategy that keeps customers renting for longer 
• The optimal self storage customer that will pay more and stay for years 
• A common “pain point” you can solve to get even more rentals at your facility 
• Creative financing is back! How Kenny is picking up self storage facilities in today’s market 
• Why you should NOT have your facility manager be in charge of sales 

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Crescendo Self Storage Management - https://propertymanagement.storage/ 

Kenny’s LinkedIn- https://www.linkedin.com/in/kennypratt/ 

Reset: How to Change What's Not Working - https://www.amazon.com/Reset-How-Change-Whats-Working/dp/1668062097 

Want to increase revenue at your self storage facility? - https://www.selfstorageincome.com/blog/how-to-increase-revenue-in-self-storage-investing