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Patriot's 2 Min Drive: State Of The Industry
Patriot Holdings' strategic initiatives to drive revenues, cost control, and boost NOI resulting in maximizing self-storage asset values and increasing returns for investors.
We continue to innovate, focusing on operational efficiency, improved marketing, and customer service to drive growth.
Buying Right
- The majority (85%) of the 50,000+ self-storage facilities in the USA are owned by small-scale operators who may not have kept up with property improvements or market rents.
- Patriot leverages a nationwide database of owners and deep relationships built over the years with sellers to acquire the best off-market assets.
Cost Control & Efficiency
- We're employing remote leasing technology for expense reduction and improved efficiency.
- Our operations are powered by StorEdge, an advanced management software enhancing administrative functions - and integrates with facility access control for tenants.
Asset Expansion & Upgrades
- Our approach involves new developments and existing asset expansion to increase facilities' size, resulting in increased rental income.
- We're investing in renovations and cosmetic improvements to increase rents and occupancy. This includes painting, paving, landscaping, gating, and improved lighting.
Strategic Pricing & Revenue Management
- By targeting facilities with below-market rents, we can implement significant rent increases to drive revenue growth post-acquisition.
- We use aggressive marketing and leasing strategies to boost occupancy rates.
Comprehensive Marketing Strategy
- We launched an upgraded website in April 2023 using the StorEdge Solution.
- We are increasing our Google Ads PPC budgets and hiring marketing experts with over 15 years of storage advertising expertise.
- We prioritize website conversion optimization, SEO, and improving our Google My Business Reviews management.
Promotions & Concessions
- We offer attractive promotions (e.g., 25% off for the first 3 months, 1 free month) to convert potential customers.
- Post-conversion, we apply strategic revenue management to adjust rental rates to the market level.
Monitoring & Improvement
- We use advanced tracking tools to monitor performance across all channels.
- We've installed real-time property and marketing reports for quicker decision-making.
- Our efforts include optimizing customer service scripts and enhancing team performance reviews for continuous improvement.
Our holistic and innovative approach and commitment to technology and operational excellence drive higher occupancy, increased revenues, and enhanced cash flow.
Next Steps: Interested To Learn More or Invest In Commercial Real Estate?
If you would like to learn more about our Open Funds or invest in Commercial Real Estate please contact our investor relations team by completing the New Investor Form here (it will take less than 2 mins).
