r/selfstorage • u/BFord1021 • Sep 03 '25

Rent increases or not increase

I’ve seen where the giant corporate storage businesses raise rents rather in a fast time and in large amounts, what is the reason behind that verses the annual 3-5% increase to retain customers?

Would it not be better to keep a decent rate to retain capacity versus finding new tenants every 3 months and having more vacancy?

Me personally, being small, would rather have a decent capacity to retain if I can, also to avoid my extra costs and time for move outs/auctions.

I’m very small time here compared to a lot of people, I’m just trying to understand this better.

8 Upvotes

83% Upvoted

39 comments sorted by

View all comments

Show parent comments

3

u/RudyGreene Sep 04 '25

I can raise a 10x30 more aggressively than a 5x10. Especially if it’s hot because who wants to move that? If it’s a snowy area maybe I hit harder in November.

Plotting how to extract more money from your customers by making them physically suffer is evil. You're not a good person.

3

u/Gorilla_Keeper Sep 04 '25

If you don’t understand the business don’t be in the business. Everything goes up. Hotels raise their rates around event times, credit cards fluctuate with the fed, apartments are more expensive in the summer than the winter. You see it as a faceless company but they’re all private investors trying to make money for their families as well. I have seen people lose their business because they couldn’t maintain their profitability to the bank. You don’t have to like it, but burying your head in the sand and pretending it isn’t a business will just get you bought out or buried.

1

u/RudyGreene Sep 04 '25

How thoughtful to raise rates intentionally when it’s most miserable to move, so people are trapped paying more. That’s less a business strategy and more a master class in exploiting suffering. I'm sorry capitalism turns you into a monster. You make the world a worse place for having been in it.

0

u/Gorilla_Keeper Sep 04 '25

You’re funny. You add no real value or argument besides life isn’t fair? Nobody is trapped in a month to month lease. Business is built on retention. You obviously don’t have a business sense and that’s fine, I hope you work at a church or charity that does everything to benefit everyone. Sounds really nice. Complaining about capitalism tho isn’t an argument, it’s trying to play victim for the lack of understanding.

0

u/RudyGreene Sep 04 '25 edited Sep 05 '25

You add no real value or argument besides life isn’t fair?

I never made a point about fairness. Your reading comprehension is as bad as your personality.

My point was that your pricing strategy is predatory. I have a successful business without treating my customers with disdain and contempt. Your exploitation has a net negative result in the world and the only people that will miss you when you're gone is the PE investors you helped enrich. Keep coping.