If your buildings have some age on them you may want to consider refurbishing. Here is a clue: If your competitior's buildings look better than your's, it's time to refurbish.
First, you need to look closely at your buildings for signs of deterioration, because you can rest assured that your tenants and prospects have been looking around with a critical eye. They notice the appearance of your facility, because they want to make sure their valuables are in an environment that looks good and not rundown. In fact, did you know that 60%-70% of self-storage decision-makers are women? They tend to be very discriminating and demand a clean, safe and attractive facility.
From a very practical point of view, look at your competitor's buildings. If they are pristine and look like new, and your buildings don't, it's time to level the playing field and reburbish your buildings to equal or exceed their appearance.
Think about this: It may increase rental rates and occupancies, reduce maintenance, eliminate roof leaks and the cost may mean a tax write-off. So, if your facility has a few years on it, now might be the right time to consider a facelift.