90 Days After Buying an Abandoned Self Storage Facility

Key Takeaways: Occupancy dropped from the seller's claimed 93% to as low as 58%, but has now climbed to the high 70s. Partnering with a moving company (Six Demand Movers) provides unique advantages in filling units and getting above-market rates. Major operational challenges included: Transferring property management software Onboarding a call center Fixing maintenance issues (gate, HVAC, doors) Tenant retention strategy focuses on: Responsive maintenance Flexible fee policies Building relationships Serving long-term, multi-unit clients Future plans include: Reaching near 100% occupancy Adding 40-52 new units using shipping containers and movable units Potentially expanding to 130-140 total units Improving property curb appeal Key financial insights: Each unit is worth approximately $17,300 Adding units can significantly increase property value Avoiding marketing expenses creates substantial value Seasonal considerations: Peak moving/storage season is March to October, with slowest months in January and February.