234. "Contactless" Self Storage - Is the Technology Ready?
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 27 February 2024
⏱️ 45 minutes
🧾️ Download transcript
Summary
Storage tech has not kept up with the times - just think: how easy was it to book a storage unit vs booking a flight? Or ordering off of Amazon?
Large companies have condition us, the consumers, to accept new methods of paying for goods and services. We have contactless payments, Apple/Google Pay, Amazon Prime Two-Day shipping, and many more. But what does this have to do with self storage?
We brought back Lance Watkins, the CEO of Tenant Inc., who specializes in self storage management software and technology. His expertise in the field allows him to point out several common weak points that the storage industry suffers from compared to other businesses today.
Stroage operators are missing out on all the technology advancements of the last decade. It's now possible to rent your facility completely contactless, cancel or move out of your unit, and have that listing be reposted to your website for a new renter.
How are YOU using tech to make your facility more efficient? As a customer, is it REALLY easier or did it just complicate your life? You have to think about this when you buy, invest, or even rent from a storage facility.
Check out Lance's company Tenant Inc. (who is also a regular podcast sponsor here!) - https://www.tenantinc.com/
Ready to buy storage? Have your deals personally evaluated by AJ and our team!
https://www.selfstorageincome.com/feasibility
Take advantage of today’s market conditions and invest with us:
Transcript
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| 0:00.0 | If I'm a small operator or a first-time operator, what are the main points in my tech stack that I just have to have? |
| 0:09.0 | There are things that you're doing in a daily basis that you might not recognize that are going to change self-storage. |
| 0:15.0 | Think about when we travel now. I don't have a ticket in my hand anymore. |
| 0:20.0 | I'm literally staring at a camera as I'm walking through the gate on international flights. |
| 0:24.6 | We know these things, but are we applying them to self-storage? |
| 0:28.6 | And are we looking at those efficiencies? |
| 0:30.6 | Right? Like if I can expose variable amenities to a customer on the fly, |
| 0:36.6 | like maybe access control and start to create loyalty |
| 0:39.1 | programs and such. Those are big. No single tech company will ever solve all problems. No way. |
| 0:45.7 | You have to be, you don't have to do anything. You do whatever the hell you want. Your investors |
| 0:51.2 | will suck wind. You got to work with vendors that have the ability to expose |
| 0:57.2 | information or have the creativity. Is it better for the customer? |
| 1:06.4 | What's up everybody? And today we have an incredible episode, but I need to preface this. |
| 1:13.5 | I have been traveling. And so I am interviewing Lance Watkins, the CEO of Tenant Inc. |
| 1:20.2 | And we are talking about technology. Now, I'm down in Newport at Tenants' headquarters. |
| 1:26.6 | And so it's a little different setup. |
| 1:28.6 | It's not our usual podcast setup. |
| 1:31.0 | So the audio is a little different than we're used to, but this was way too good not to share. |
| 1:37.1 | So I wanted to make sure that it got out to you guys. |
| 1:40.1 | Just wanted to give you a heads-up. |
| 1:41.5 | Welcome everybody to self-storage income. |
| 1:44.5 | And today I'm here with Lance Watkins, the CEO and founder of Tenant Inc. |
... |
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