Frequently Asked Questions

I currently manage my own facility, but am thinking about having someone else do it. What would management of my facility include and what would it cost?

Investment Real Estate Management would provide all the services necessary for you to be an absentee owner, if you so choose. The services we provide would include employing the on-site personnel, overseeing the daily property activities, developing and implementing a marketing plan, developing the annual budget, paying all facility bills, including loan payments and overseeing all aspects of the property's operation. Cost is based on a percentage of gross revenue with a base minimum.

What is the minimum size property that you will manage?

Our fees are based upon a % of the monthly income a store generates. Depending on the rental rates, a property typically needs be over 200 units to qualify for our management. Exceptions are made for new projects and stores located near our home office or other properties we manage.

Do I have to change the name of my Facility?

No. We believe that your name has value at your current location, and past customers know the property is there for their convenience. For new stores, we like to have the name mean something, typically the location of the property.

How long do I have to commit to a management agreement?

Our agreements are renewable each year. You are only committed to a one year contract.

Do you keep my current manager(s)?

It is our preference to have the current managers continue with the property but they must meet our standards for professionalism and performance. We will interview them before taking over the responsibility for the property and give you our honest opinion of their potential to remain with the property.

What safeguards do you have in place to deal with cash payments?

The manager must make daily deposits into the bank of the owner's choice. These deposits are reconciled each morning via the internet by the home office accounting staff. In addition, the self storage management software we employ has built in safeguards that flag any unusual activity. Finally, each employee goes through a complete criminal and credit background check before an offer of employment is made.

How do you monitor the daily activities of the manager?

Our District Managers and home office staff are in daily contact with the individual site managers. Reports must be sent to the home office each day and are reviewed and reconciled by our staff. Our District Managers visit the properties weekly for training, auditing and management activities.

I am in the process of starting to build my facility and am looking for someone else to run it. When is the best time to start talking with you about the possibility of your running it?

We really like to start talking with you as soon as you have purchased the land. We can review your plans from the initial get-go to make sure layouts are correct, help you with unit mix and provide value engineering tips to avoid unnecessary costs in storm water management, lighting and HVAC systems. From a long-term management perspective, we can also provide insight into design issues that directly affect the operation of the facility such as office layout and security features.