Case Studies
As an industry-recognized leader in self storage facility management and operations, Absolute Storage Management (ASM) provides highly customized operational support to self storage owners and their properties.
Want to see results and evidence of what our management and leadership bring to the table? In the following three case studies, each storage facility presented different challenges and goals.
Tennessee: “Lease Up” Property with Expansions (Managed for 4 Years)
ASM took over the management of a new Tennessee property on the outskirts of historic Nashville. Before being converted to self storage, the property had been used for other purposes.
Unit Expansions
When the property opened, it had 170 units. Four years – and multiple expansions later – the storage facility grew its available unit count to 430 units: more than double its original size.
Monthly Income
Over the course of four years, our management of this property not only doubled the expected monthly income, but it more than tripled the gross potential from $25,492 to $82,808.
| Opening | Year 1 | Year 2 | Year 3 | Year 4 | |
| Total Monthly Income | $0 | $28,749 | $42,800 | $67,056 | $76,471 |
| Expected Monthly Income | $0 | $25,400 | $42,817 | $63,641 | $72,202 |
| Gross Potential | $24,592 | $57,629 | $57,649 | $73,933 | $82,808 |
Monthly Occupancy
Monthly unit occupancy experienced similar growth. By the end of our fourth year of operations, the facility was nearly 100 percent occupied:
| Opening | Year .5 | Year 1 | Year 1.5 | Year 2 | Year 2.5 | Year 3 | Year 3.5 | Year 4 | |
| Unit Occupancy | 0% | 65% | 49% | 60% | 79% | 85% | 95% | 88% | 97% |
| Square Foot Occupancy | 0% | 62% | 55% | 63% | 83% | 87% | 92% | 90% | 98% |
North Carolina: Stabilized Property (Managed for 5 Years)
This property in North Carolina was previously managed by a local owner/operator. This person needed help with operations and brought us in to spend resources in other investments. After five years of management, here’s how we were able to have an impact on their business.
Monthly Income
| Take Over | Year 5 | $ Change | % Increase | Annual % Increase | |
| Total Monthly Income | $33,000 | $52,026 | $19,026 | 58% | 12% |
| Expected Monthly Income | $34,616 | $49,176 | $14,560 | 42% | 8% |
| Gross Potential | $54,889 | $60,682 | $5,793 | 11% | 2% |
Monthly Occupancy
After five years, this facility experienced nearly 20 percent growth in the number of units occupied and 12 percent growth in square feet occupied.
| Take Over | Year 5 | % Change | |
| Unit Occupancy | 73% | 92% | 19% |
| Square Foot Occupancy | 83% | 95% | 12% |
Georgia: Stabilized Property (Managed for 2.8 Years)
In Georgia, we took over management of a AAA Private storage facility and created double-digit increases in the percentage of income over the course of 34 months.
Monthly Income
| Take Over | Month 34 | $ Change | % Increase | Annual % Increase | |
| Total Monthly Income | $25,392 | $34,506 | $9,113 | 36% | 13% |
| Expected Monthly Income | $26,102 | $34,264 | $14,560 | 42% | 8% |
| Gross Potential | $54,889 | $60,682 | $5,793 | 11% | 2% |
Monthly Occupancy
| Take Over | Year 5 | % Change | |
| Unit Occupancy | 73% | 92% | 19% |
| Square Foot Occupancy | 83% | 95% | 12% |
Reap the Benefits of Third-Party Management
Third-party management with ASM can provide significant gains and operational efficiency for your business. To learn more about what we can do for your self storage property, contact us today.