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Welcome:
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“I’m building a Class A Facility in an urban area. How long should I expect it to take before this facility is operating at 80% occupancy or better after construction?” - Anonymous
Answer:
I believe your proforma indicated a 24-month lease up period. This is typical in today’s market and under normal management scenarios. You will be able to beat that rate if you are hands-on involved, as you have indicated to me you will be in a variety of ways. No one beats an owner – with marketing and sales experience, plus attention to detail – at the lease-up game. The more heavily you saturate this responsibility with owner involvement and oversight, and ensure phone/counter/click coverage, the more quickly you will fill up your space.
I’ve seen it done before, many times.
Julie Farrar www.TheSelfStorageAdvisors.com
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