A self-storage owner was dissatisfied with the low tenant participation and minimal revenue share from their existing tenant protection partner. The East Coast facility had 2217 units, but only 560 tenants enrolled.
THE SAFELEASE SOLUTION
The owner canceled its existing protection program and made the switch to SafeLease. On February 1, 2022, the store launched SafeLease Tenant Protection with Auto-Protect™ enabled.
Auto-Protect automatically enrolls tenants without proof of private insurance in a minimum-coverage protection plan. This ensures 100% of tenants have protection for their stored items.
The SafeLease partner success team guided the store through each step of the transition including:
• SafeLease configuration with their management software
• Updating the lease addendum
• Sending clear tenant communications
• Training store managers, and more.
Just 30 days after the SafeLease launch, enrollment increased by 239%. The store’s tenant protection revenue grew more than 6X to $16,000 per month/$191,000 per year.
Ready to maximize revenue for your property? Contact us today.