YOU’RE GOING TO RAISE MY RENT?

While 80% of our customers accept the rate increase, the other 20% need reassurance that our facility is the best value for their money.

Creating a Win-Win Environment During a Rate Increase b Skillful Listening b Take Ownership b Build Value b Offer Alternatives b Empowerment

Skillful Listening b Actively listen without interrupting b Let them voice their concern b Give them your full attention b Make eye contact b Avoid distractions b Separate feelings from the problem b Don’t take it personally

Take Ownership b Be positive b Stand behind your facility b Be professional say “we” not “they”

Build Value b Only 1 time per year b Increase was necessary & why b Standard Inflation b Previous Improvements b Future Budgeted Improvements b Benefits of Storing with us

Build Value b Dollars vs. Percentages Smaller units use dollarsSmaller units use dollars –$50 6% increase = $3.00 –$3.00 is a nominal increase Larger units use percentagesLarger units use percentages –$200 6% increase = $12.00 –$12.00 is a large increase so use %

Build Value b Identify customers that are deeply discounted. Print a list of these customersPrint a list of these customers Compare current market rate with new rateCompare current market rate with new rate Identify amount of existing discountIdentify amount of existing discount Unlikely to make further exceptionsUnlikely to make further exceptions

Offer Alternatives b 13th Month Free - Prepaid Discount b Pass It On Program b Smaller Unit b Evaluate each situation based on unit occupancy and customer history

b Satisfy customers on-the-spot Extend old rate 1-3 monthsExtend old rate 1-3 months Limited number of extensionsLimited number of extensions b Customer still want’s more Rate exceptions must be approved by DMRate exceptions must be approved by DM Contact DM on behalf of customerContact DM on behalf of customer b Contact your DM for possible alternatives before losing a good customer. Empowering the Manager

Closing b Thank you for understanding b You’re a valued customer b Our Facility is the best value b We appreciate your business

Look! It’s a happy customer.