345. How to Create More Demand for Your Self Storage Units (Grow Occupancy & Rents)
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 21 April 2026
⏱️ 30 minutes
🧾️ Download transcript
Summary
Your self storage business isn’t struggling because your vacancy rate has slowly crept up or because your rents are too high.
What’s actually going on? It’s simple: you have a self storage demand problem.
Everyone thinks demand is outside of their control—that it’s completely dependent on the market, competition, and rates. But it’s not.
The truth is, you have far more control over demand for your self storage units than you probably think. Not convinced? In this episode, we provide real case studies of developments, fill-up facilities, and stabilized facilities we have transformed over the last four to six months.
If you want to “create” demand, even in a seemingly competitive market, we have the playbook.
Whether you’re looking to buy an existing mom-and-pop operation or optimize an underperforming facility you already own, there are four operational levers you need to pull if you want to generate enough demand to improve occupancy and increase revenue—without slashing rates.
Dial these in just right, and everything changes—not just demand for your self storage units but also your overhead costs, your conversion rates, and your bottom line.
What you’ll learn in today’s show:
- Four levers that will improve demand and occupancy at your self storage facility
- Real case studies of developments, fill-up, and stabilized self storage facilities
- Why lowering rates won’t fix your self storage facility’s vacancy problem
- How to “create” demand for self storage units (and drive occupancy higher)
Improving your self storage business’s conversion rate (and land more customers)
__________
- Grab AJ’s Book, _Growing Wealth in Self-Storage 2.0_ : https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865
- Hummingbird: https://www.tenantinc.com/products/hummingbird
- TractIQ: https://www.tractiq.com
Transcript
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| 0:00.0 | It's not about if there's a hundred people looking for a storage unit. |
| 0:03.6 | It's about how many of those hundreds know you exist and how many of them can rent from you. |
| 0:09.7 | I was always shocked by how many facilities I could find or identify, but I couldn't even rent from a bunch of them. |
| 0:16.4 | Trying to. Well, they don't exist anymore. |
| 0:20.0 | So the ones that simply were open or allowed me to do |
| 0:23.3 | online rentals, they were getting all the business. Now, that seems like a competitive advantage, |
| 0:28.9 | but today it's not nearly as much as a competitive advantage is just a you have to do it to be |
| 0:34.7 | playing in the game. A lot of the times this is actually what is weak |
| 0:38.9 | with the storage facility owner, and it's really still mom and pop, and you can come in and |
| 0:43.7 | make small adjustments to these things and dramatically increase the outcome. |
| 1:02.1 | Opportunity and self-storage. Now, opportunity comes through improving the NOI, and it comes through finding opportunity in assets that you can do that. That also may mean you have a facility |
| 1:09.5 | that over the last four years have been struggling, so now you need to optimize that and turn that around or you're buying something that you want to optimize. |
| 1:20.4 | Now, at the end of the day, this is all about increasing demand. |
| 1:23.6 | If you want higher rents, you've got to have more occupancy. |
| 1:28.3 | Markets change and shift. |
| 1:30.1 | You may have been in a market that has gotten lower. |
| 1:33.5 | So how do you compete? |
| 1:35.3 | It doesn't matter if you're looking for a new facility in a new market, just getting started |
| 1:41.4 | out. |
| 1:42.1 | You own facilities in markets, you're developing, |
| 1:45.9 | all of it centers around this core theme. And that is demand. Overall, market demand, yes, |
| 1:53.5 | but demand through operations. How do you change that demand within your own storage facility? And how do you find ones in which you can? Today, I'm going to walk through what we do to move that occupancy up. Now, I'm going to share some examples from three different baskets. Now, these three different baskets |
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