Facility Management Software: Which Is right for your business?

The self-storage industry may have been slow to implement technology—some facilities didn’t even have websites until the past few years—but since COVID, technology has swept through the industry at lightning-fast speed.  

Facilities today should have at least a great website and a facility management system that integrates your operations, including allowing prospective tenants to reserve a unit, rent, and pay online.  

“Time is a major cost to not having a good management system,” says Will DeBord, director of product, Nokē by Janus International in Temple, Ga. “A good management system helps organize your business and automate tasks, which leads to more efficiency for your operations team.”  

If you’re not using modern facility management software, it could be costing you business and could ultimately lead to devaluing your property. “Storable has many customers who actively shop for underperforming facilities,” says David McCormack, Raleigh, N.C.-based director of solutions architecture at Storable. “These growth-oriented customers will buy struggling self-storage businesses at a steep discount; implement modern tools, such as access control, website, lead generation, and other tools; and quickly turn a profit by replacing the dated management products, process, and technology.”  

Operating System Vs. Management Software 

Some people within the industry have used “operating system” and “facility management system” interchangeably, which may lead to confusion among people who aren’t tech savvy. “Use of the term ‘operating system’ may confuse readers who would normally associate that term with products like Windows, Mac, Android ectara,” says McCormack.  

Storable’s website describes facility management software as being “primarily designed to streamline operations of your facility and make it easier to operate a successful business. At its most basic, management software keeps track of unit availability, prices, and tenant records. However, management software for self-storage has grown more sophisticated with time. Today’s storage management software can do everything from controlling your access control systems to sending payment reminders to delinquent tenants.” 

McCormack adds, “Facility management software [FMS] is the nucleus of a self-storage facility’s business. Integrated into FMS are all the products and services your tenants interact with, such as the website, kiosks, payment system, access control, and communications. When an FMS product fails, the entire ecosystem is in jeopardy. My advice is to carefully choose the FMS which can deliver superior uptime, support, and accommodate your future growth.”  

To make an informed decision, here are questions to ask before choosing a facility management system: 

Is it cloud based?

This is an important question in today’s world, especially when there seems to be so many natural disasters. “It is vitally important to have all of your systems based in the cloud,” says DeBord. “Otherwise, you are vulnerable to on premise equipment going offline or having power failures.”  

What kind of self-storage business do you have?

McCormack adds to note whether it will be automated, unstaffed, traditional, or another business model.  

Will your business include any nontraditional storage products or services?

McCormack says this question enables facility management software providers to determine the best product for your entire business.  

How large is your business?

Scalability can impact your choice. Therefore, McCormack says it’s important to tally how many facilities are in the owner’s portfolio as well the average number of units per facility.  

Will you own your data?

“Data is the new currency of business,” says Justin Paquin, senior director of product at Tenant Inc. “Leading businesses leverage their data to maximize customer experience, optimize operations, and drive business decisions.”  

Are APIs available?

According to the Storgaznize blog, open API refers “to a public programming interface that allows different software systems, such as access control systems, accounting software, and CRM systems to integrate and communicate seamlessly.” DeBord says, “If your management software does not integrate well or properly with your website, access control, or other systems, your operation could suffer.” Paquin suggests asking these two questions: “Are the APIs complete or do they only offer partial coverage? Do you or other vendors have to pay to use them?” 

Will you be able to get support when you need it?

“Your FMS is hub of the software portfolio for your storage business,” says Paquin. “Unresolved challenges, questions, or issues can impact your tenant experience and cost you money.” 

Does the vendor have a track record of innovating and solving problems differently and better?

“Just like a great hire, selecting the right FMS will sell more, make better decisions faster, and run your business more efficiently,” Paquin says. 

Mandatory And Elective FMS Features  

For even the smallest facilities, industry experts say the following features are mandatory for a modern storage facility: a good website, access control, demand and lead generation, sound reporting, and analytics. Additionally, all management systems should seamlessly manage the dollars, the tenants, and the units. With the core functions, there should also be accounting integration, robust reporting, and delinquency management.  

“In terms of pricing, the ability to manage standard rates and push rates” is becoming increasingly important, says DeBord, who lists these additional, beneficial features: “the availability of e-lease, lead and reservation management, process automation, tenant communication ability, cloud based, credit card processing, and ability to integrate all systems, including your smart locks and access controls.”  

Other features that are nice to have include auction service integration, web hosting options, and call center integrations, says DeBord. And if you want a jump on waves of the future, “more cutting-edge features that are not mandatory today include revenue management integrations, AI capabilities, and identification verification,” he says. 

Pros And Cons Of FMS 

When deciding on an FMS, DeBord says, “Simplicity versus functionality is always a consideration for any software types. More simplistic systems will be easier for your operations team to use from day one. Feature-rich solutions may take more time and effort to use initially, but the enhanced features and functionalities may save you time and money in the long run.”  

Beware of mixing different systems, or make sure they can communicate with each other if you do, says McCormack. “One of the major pain points we see many of our customers coming to us to resolve is the result of mixing and matching many different providers for services. Having a choice of service providers is important. However, when things are not functioning properly, having many integrated vendors, who usually don’t communicate with each other, often causes delay in problem resolution, and sometimes lack of vendor accountability. The solution to this problem is having as few competent providers as possible and ensuring that the providers you have decided upon have the depth of experience and the resource commitment to solve your business problems, end to end, in a timely manner.”  

There is no one solution fits all, which is why there are several reputable FMS companies that serve the self-storage industry. The key, says DeBord, is to find the best solution for your business. “When evaluating any software solution, it is important to understand your current processes and consider how the product fits into your processes, or how to improve your processes. If you do not understand how to improve your process or think the solution makes your process more difficult, it is good to inquire about best practices that the companies currently use. Understanding customer support hours, account management practices, and onboarding processes of the provider is another important area to understand.”  

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Kerri Fivecoat-Campbell is a freelance journalist based in the Ozark Mountains. She is a regular contributor to Messenger. Her business articles have also appeared in Entrepreneur, Aol.com, MSN.com, and The Kansas City Star.