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Posted by Al on August 29, 2009 at 07:43:31:

I am looking at a 185 U Self Storage Facility and a 320 Unit Facility. The present owners run the business themselves. How much would I pay an onsite Mgr to run the above deals? How much would I pay for professional management? How much do I allow percentage wise for repairs and maintenance? Labor? Reserves?

Thanks

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Posted by Pete N on September 03, 2009 at 22:39:08:

Each site has it's own characteristics, and I recommend trying to figure them out, you'll make a lot more money. If you're lucky you may be able to run the 185 from the 320 at least part of the year, like Nov/Dec. I run these 7/hrs a day 5 days a week with an on call manager that can go in on Sat if needed or just have them go in the last weekend. The 320 will probably be a 6 day a week operation, and they can answer the phone for the other if needed. We have started doing more business between 6pm - 8pm, fyi I answer the phones then but you can also hire a call center fairly cheaply. Management fees should be 5% may not be true with smaller much harder to find property manager for this size.

Be glad to answer any other questions

Peter

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Posted by Casey on December 11, 2009 at 17:41:27:

Please contact me. I have experience with properties of this type and I could probably give you some great free advice.

Casey Cavell
Always Open Storage
www.selfstorageoffer.com
574 527 5122
Danville, Illinois Storage