Offering Tenant Protection at your storage facility is a huge asset to both you and your tenants. Not only does offering protection plans further reduce your liability, but the extra revenue can boost your bottom line by five to ten percent. When an unforeseen loss occurs, knowing your tenants have a backup plan is a great relief. Especially when you have the dedicated support of Easy Storage Solutions on your side. Here are five simple tips to help your storage facility reach its true potential with Easy Storage Tenant Protection.
1. Offer Tenant Protection To Every Person Who Rents A Unit
Tenant Protection is a point of sale product. Whether you rent in-person or over the phone, always address the need for Tenant Protection with your renters. For online rentals, Tenant Protection is always offered. By offering Tenant Protection to every new rental, your facility can make money off of every plan, and have peace of mind if something happens to a tenant’s belongings while storing at your facility. In the event of a disaster, having tenants sign up for a plan or provide their own coverage helps prevent awkward conversations with them about how all their items are ruined, and there isn't anything you can do about it.
It’s a simple process to offer tenant protection with all new rentals, and by training your staff, offering educational materials, or making protection plans mandatory, the process can be quick and easy for your facility and new tenants.
2. Have The Tenant Protection Brochure Present
Have our Tenant Protection brochure readily available when a new tenant is going through the sign-up process. The brochure is informational and a great resource when the tenant has questions about the program. It explains the available plans, as well as what's covered.
You can find this brochure in your Easy Storage Solutions software. Simply log on to your software, hover over ‘Settings’ and choose ‘Tenant Protection’. From there, you will find the ‘Download Brochure’ button. This will download a PDF file, and the brochure can be printed! Send the brochure out via email, pass them out to everyone who comes into the office, or keep one at the counter for everyone to see.
3. Train Your Employees
If you have employees, make sure they are confident in offering Tenant Protection to every customer. Easy Storage Solutions has resources available as well as a friendly team that can help familiarize your employees with the Tenant Protection Program.
To help your employees be more comfortable selling protection plans, first understand your employee’s personalities and level of experience in selling. Tailor your training process accordingly. Use a mix of metaphors and learning tools. Some people learn better verbally, some like to read, and some may like to physically practice. Offer to role-play with your team, so each person can be confident in what they will say. And always strive for continuous improvement to better your team’s methods and tactics.
4. Bundle Tenant Protection With The Rental Price
If you offer Tenant Protection to every customer but aren’t having much luck with sign-ups, try working in a new line when you’re speaking to a new tenant. For example, if they want to rent a unit that costs $70 a month, let them know that it’s $79 a month, which includes a protection plan with coverage up to $2,000. Easy Storage Solutions Call Answering service uses this bundling method with new rentals and it results in an 80%-90% success rate when offering Tenant Protection Plans.
5. Require Tenant Protection At Your Facility
Requiring some sort of coverage is the best practice in the self-storage industry. Making Tenant Protection required will eliminate the need to sell the additional plans, and will give you total peace of mind, reduce liability, and extra revenue. Pro tip: When tenants want to use their own insurance policy, but don’t have the information on them at the time of rental. Tell the tenant they have until their next due date to provide their information, and if they fail to meet that deadline, the lowest level Tenant Protection Plan will be added to their account for the next billing cycle.
By following these five steps, your facility will easily sell tenants on protection plans. If you need help or want to learn more about how to sell tenant protection, visit our website, or contact our team. At Easy Storage Solutions, we are always happy to help you.
About the Author:
Rachel is a Tenant Protection Specialist at Easy Storage Solutions. She has been helping self-storage facilities successfully sell tenant protection plans for one year. When she is not helping our clients succeed, Rachel enjoys exploring the mountains on her skis. If she’s not skiing, Rachel is somewhere on a lake, crafting, or doing yoga.