Watching Your Pennies Will Make You Dollars July 2007
Benjamin Franklin once said that “a penny saved is a penny earned.” The same holds true in the real estate business, except that we can expect an even greater return when we make an effort to save on operating expenses. At one time or another, we have all looked at our to-do list and thought “I can do that next month.” Reviewing your operating expenses, however, is not one of those things you can afford to put off until next month. Operating expenses need to be reviewed regularly to ensure that the value of your property and its cash flow are not being undermined by subtle, yet devastating, increases in operating expenses. We have all received service contracts with a notice of an annual increase, it is time to take that seriously and understand the true effect of the rise in operating expense on the value of your facility.
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Using Multiple Channels to Maximize Web Exposure May 2007
In today’s competitive business environment, maximizing your advertising and marketing budget is an absolute necessity. With Internet penetration at 70% and climbing, the Web is increasingly becoming the advertising vehicle of choice for savvy marketers. This shows in online advertising spending which has doubled from $6 Billion in 2003 to over $13 Billion in 2006. But, the Web is diffused medium, and experienced marketers are finding that a website alone does not help build your business or fill your facility. The key to successful marketing on the Internet is to first have your message available to many Internet users, and second, to give them multiple opportunities to convert and become a customer.
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Technology and Your Facility's Value Inside Self Storage, May 2006
After over 30 years in the real estate business, I am continually surprised at the advancements in technology that help us do business, and the Internet is no exception. We all know about the importance of having a presence on the Internet for our businesses, but there is one principle concern that is always foremost in my mind – what is a property worth and why?
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Market Monitor Articles
Have You Found Your Chair Yet? VII 2007
For the last several months we have been talking about the uncertainty in the real estate markets. In this high-stakes game of musical chairs, NOW is the time to find a chair before the music stops, bringing to an end high real estate prices and easy financing. This is the time for serious analysis of your personal objectives and options because the real estate and credit markets are likely to severely limit your options and outcomes.
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Self Storage 2007: A Market Overview Issue I 2007
It Is The Best of Times!
Charles Dickens began A Tale of Two Cities with these words, but then added the caveat, “and the worst of times.” I have no such disclaimer on the status of the self storage real estate market today. Without qualification, the market today is simply the best for owners and buyers at any time in the existence of our business. Interest rates are low, lenders are aggressive, buyers can earn a very competitive return when purchasing facilities, there are large institutional investors buying self storage, and values of properties are at all-time highs. While there is no qualification of any kind on this opinion, it also carries no warranty in the future.
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The Marketing Solution You’ve Been Waiting For! Issue VI 2006
In today’s competitive business environment, having a website is no longer a luxury, it is a necessity. However, much like a Yellow Page ad that no one reads, a website alone will not help you build your business or fill your facility. Marketing on the Internet is a combination of web presence and traffic. SelfStorage.com has always been the first stop for renters seeking self storage on the web, but we are introducing a new solution for self storage owners to enhance their facility’s online presence and capitalize on the name and inherent traffic of SelfStorage.com. Take a moment to read our FAQs and you’ll learn why you can’t pass up this opportunity to include your facility on the Internet’s premier self storage website!
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