96% Tenant Opt-In Rate Boosts Revenue and Cuts Insurance Losses by 41% Right Move Storage, a leading self-storage operator with over 60 locations spanning Texas, Oklahoma, Louisiana, New York, and California, has released impressive results from its deployment of StorageDefender Smart Units. The comprehensive case study reveals significant revenue gains and increased tenant satisfaction across their portfolio, demonstrating the impact of Smart Unit technology in increasingly competitive and challenging markets.
DALLAS, Aug. 28, 2024 /PRNewswire-PRWeb/ -- Right Move Storage, a leading self-storage operator with over 60 locations spanning Texas, Oklahoma, Louisiana, New York, and California, has released impressive results from its deployment of StorageDefender Smart Units. The comprehensive case study reveals significant revenue gains and increased tenant satisfaction across their portfolio, demonstrating the impact of Smart Unit technology in increasingly competitive and challenging markets.
Facing industry challenges like rising costs and increased competition, Darren Kelley, President of Right Move Storage, implemented StorageDefender's Smart Units in 2019, just before the COVID-19 pandemic. Kelley's forward-thinking approach has proven beneficial, especially as the industry now grapples with inflation, reduced demand, and higher operational expenses.
Since the rollout, Right Move Storage has achieved:
- 12% Increase in Revenue per Smart Unit
- 96% Tenant Opt-In Rate
- 41% Reduction in Tenant Insurance Claims
- 70% Tenant Advocacy for Smart Units
Kelley highlighted the importance of standing out in competitive local markets while addressing emerging profitability challenges. "Differentiation has been crucial from day one, especially against REITs with far greater resources. StorageDefender has been instrumental in offsetting rising labor, fixed costs, taxes, and insurance," he stated. "In some properties, we've achieved an 87% Smart Unit penetration rate within two years, generating over $5,000 in monthly incremental revenue."
Right Move Storage has also reported an impressive 41% reduction in tenant insurance claims from 2021 to 2023 with facilities that deployed Smart Units. Kelley attributes a large part of this decrease to his adoption of StorageDefender Smart Units. He stated "The reduction in loss claims supported by StorageDefender has bolstered our ability to secure more insurance revenue while undoubtedly enhancing tenant experience. StorageDefender's real-time notifications have helped us avoid losses on several multi-unit break-in attempts and the humidity monitoring provides us added visibility to preempt issues related to mold."
In discussing his approach to property protection, Mr. Kelley explained "We as an industry have a moral obligation to do the best for our tenants placing their trust in us. Our properties have gates, door keypads, locks, self-locking doors, and camera systems. But we've never had affordable unit-level monitoring with activity timestamping. Now we know the moment someone enters a unit when they don't belong and can pinpoint quickly the exact time to review the video and gate access."
Mark Cieri, CEO of StorageDefender, commented, "We're thrilled to see how Right Move Storage's investment in Smart Units is paying off. Their proactive approach aligns with our mission to help partners modernize and maximize their operations."
As Right Move Storage expands nationally, its partnership with StorageDefender is set to remain integral. Right Move Storage plans to continue leveraging StorageDefender's smart solutions as a core element in delivering tech-enabled storage options. This approach not only meets evolving consumer demands but also enhances operational efficiency.
For a deeper dive into Right Move Storage's success with Smart Units, download the full case study here. To learn more about StorageDefender's Smart Technology Solutions, visit www.storage-defender.com or meet the StorageDefender team at Booth #557 during the upcoming Self Storage Association Fall Conference, September 3-6, 2024.
Media Contact
Brook Bland, StorageDefender Inc, 1 (877) 533-3363 2, [email protected], https://storage-defender.com
SOURCE StorageDefender Inc
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