Operating a self-storage facility is a busy job. Property managers juggle rentals, marketing, customer interactions, and property maintenance daily. Many owners rely on various technology systems to simplify these tasks and automate their business.
However, relying on outdated property management software (PMS), also known as facility management software (FMS), can harm your business. We'll explain why upgrading from obsolete or legacy systems to modern self-storage technology solutions is crucial.
A legacy system is an outdated technology or software application. While these systems might still perform their original functions, they usually no longer meet your business's current and future needs. This can limit growth and reduce your competitive edge. An outdated PMS lacks the helpful features and sophistication of modern systems, and could pose a security risk to tenant data and your business.
These old systems often need more expensive maintenance and repair support and don't integrate easily with newer technologies. All of this can put a business at a disadvantage by limiting productivity. So why are self-storage owners still using them?
Self-storage facility owners often use outdated property management systems for several reasons:
Property management software plays a crucial role in the operations of a self storage facility. It connects various tenant-facing tools like your website, payment system, tenant communications, and access control systems. A breakdown with the PMS can put your entire operational ecosystem at risk.
Legacy property management systems are like old cars: they might still run, but they won't get you where you need to be efficiently or stylishly. They're not innovating, not adapting to new trends in the self-storage industry, and definitely not investing in the development of new tools that help you attract and convert more tenants. While you might think you're paying for basic functionality, you're missing out on leading tools that actively help you grow your business and optimize your operations.
Here are some of the common signs that your legacy system is holding you back:
Facility owners must also consider the impact of using outdated software when attracting tech-savvy tenants. For example, Mordor Intelligence reported that as the millennial population becomes the largest group using self-storage, they want to interact with operators using technology, specifically smartphones, apps, or responsive mobile websites.
Online booking and payment, self-service kiosks, and automated access are new trends in response to the technological development in the younger sector, in fact, they expect it. These features provide new opportunities for self-storage owners who want to capitalize on this growing age group.
While your current property management system might seem dependable, it could actually be holding your business back from reaching its potential. The demands customers in a fast-paced, digital world are too much for older systems to handle. Their limited features can hinder your ability to attract new tenants, streamline operations, and increase your profits.
A modern Property Management Software solution goes beyond managing existing customers. It actively draws in new tenants, simplifies day-to-day tasks, and boosts your facility's profitability. Imagine a website that makes renting a unit completely effortless, or a property management system that automates the time-consuming tasks that eat up most of your time...
While you may think switching to a new platform is costly or disruptive, it's crucial to consider that the expenses associated with maintaining a system could outweigh those of an upgrade. A new platform's ability to generate just one additional rental per month could easily offset the costs of moving to a new system.
Ready to break free from the limitations of your outdated system? Here's how a modern, purpose-built self-storage platform can transform your business:
Imagine if you had one solution to do the jobs that take up most of your time and energy. A fully integrated PMS allows you to do it all, including:
You don't need to be stuck with an old management system or take the Frankenstein approach of piecing together products to run your business. With a leading end-to-end technology platform, you’ll have a complete ecosystem comprising the Industry’s most intuitive property management software, websites and digital marketing services, comprehensive data and reporting, and more to automate and simplify your business all from one source.
Benefits of using a comprehensive all-in-one platform like Tenant Inc. include:
Don't get left behind using outdated technology. Upgrade with ease to the Industry Leading ALL-IN-ONE technology solution that gives your self-storage facility an advantage and helps you maximize revenue.
Check out this Case Study with Ryan Lorenzini of Claremont Properties, as he discusses his previous property management system and why it was time to make a change.