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Tron Jordheim in the self storage news.

COVID 19 has sucker punched the economy.

Should you continue to hold auctions?


by Tron Jordheim March 27, 2020.


In this strange time you can take at least two approaches to your storage auctions.


  1. Stop doing auctions for the time being and hope that by May or June, things will be better, so you can pick up your collections and lien process where you left off.
  2. Continue to do auctions.


It is understandable that you may not want to make people angry right now when things are very stressful. But there is also a very good case for continuing with auctions. 


  1. The further people fall behind, the more difficult it is to get caught up. If you allow people to get 3 or more months further behind in rent, how will they ever get caught up? You may just be digging a bigger hole for them than they can ever get out of.
  2. What if things are still up in the air by the summer? Will you continue to suspend auctions? How many unpaid units full of things can you afford to have on your property? How long will it take you to retake possession of those units, clean them up, and get them ready to rent again? You may be digging a huge hole for yourself.


I know from taking over management of self storage sites that had many long term delinquent units, that it is a long, difficult, and expensive process to get a large number of long term delinquent units straightened out and re-possessed.


I also realize we are in a situation that is unlike anything we’ve seen in 102 years. You’ll have to decide whether to continue to do auctions or not. 


If you decide to continue to hold auctions, how should you change your approach? 


You can proceed with your lien process and soften some of the pieces of it. You could reduce late fees. Many customers would appreciate it if they had a few weeks to catch up on rent without any late fees accruing. You can take a different tone in your collection calls, texts, emails, robo calls, notices, and so forth. You may even give people an extra month to get caught up. But much sooner rather than later you’ll need to retake possession of the unpaid units. 


How do you do auctions in the social distancing era? 


Dan and Laura Dotson of Storageauctions.net have come up with a set of guidelines that they use in their growing businesses. 


Their goal is to reduce the number of people at live auctions and increase the number of people bidding from home. 


With so many people at home now, the bidder pool is bigger than ever before. With some storage operators pausing auctions, there are more bidders looking for auctions than ever before. 



How do you do auctions in the time of social distancing? 


First of all, using the storageauctions dot net online auction app means doing auctions with no bidders on site. Winners would make arrangements to pay and clean out the units they bought using online tools. They can meet the staff on site while maintaining safe distance protocols and claim their winnings. 


For storage facilities that lend themselves to live auctions, American Auctioneers and storageauctions.net are the only live and online self storage auction platforms that offer a pre-bid option. This means people can bid from the comfort of their homes even for live auctions. 

That reduces the amount of in-person attendees, which makes it much easier to maintain safe distance protocols on site. 


The auctioneer is still on site and the units are still opened for viewing…. But the vast majority of bidders will be at home and online.


Bidders on site will be asked to observe safe distancing protocols for protecting each other from COVID 19 transmission.


Sellers can take advantage of their unique pre-bid feature to sell both delinquent storage units and abandoned vehicles. 


Auctioneers who are not currently a part of the American Auctioneers network can use the American Auctioneers platform for their own auctions and take advantage of the unique pre-bid platform for a small fee.


When you choose to conduct your auctions online, storageauctions.net does not charge those pesky auction cancellation fee penalties if a tenant comes in at the last minute to pay the past due bill. This allows storage operators to seek settlements and payment arrangements with tenants right up to auction time. 


Storageauctions.net collects its fees from the bid winners, so the storage owner does not have to bother with invoices and payments to the auctioneer. All of that is handled between the bid winner and storageauctions.net without the storage owner having to get involved. This is a big time saver for storage operators. 


Storageauctions.net has new integrations with the most popular self storage software providers, which makes it even easier to use!


Dan and Laura Dotson may be practicing Social Distancing, but they are very connected to your auction needs. Contact them today at www.storageauctions.net 


There are other approaches to take when deciding how you will handle liens and auctions, and there are other auction platforms available. Please use this article to help you make an informed decision.


This post was sponsored by storageauctions.net for your education.


Thanks for taking the time to consider your options. Tron Jordheim, Self Storage Strategies







****Store Here Management and Tron Jordheim form Self Storage Strategies Aug. 19, 2019****

A Joint Venture between Store Here Management and Tron Jordheim forms Self Storage Strategies


August 19, 2019 - Columbia, Missouri – Press Release – For Immediate Release

Store Here Self Storage and Tron Jordheim today announced the formation of Self Storage Strategies, a consulting company dedicated to all aspects of the self-storage industry for independent owners, operators and investors. Utilizing years of experience and expertise in the space, Self Storage Strategies offers a full suite of services in self-storage management... SEE THE FULL RELEASE 


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Other self storage news and interviews.

Tron Jordheim has written for many trade journals and has participated in many interviews. 


Here is one example of an interview from a podcast called "My Worst Investment Ever"


Click this link for a list of some articles, videos, interviews, and comments on self storage news items. 


*******


Events.

Tron Jordheim was at the FEDESSA European Self Storage Conference October 1 and 2, 2019 in London. 


Did you meet with tron Jordheim at the Sept 17, 2019 Trachte Builders Seminar in St Louis, MO.



Did you talk to Tron or sit in at his round-table for the SSA National Fall Conference. September 2 to 6, 2019. Las Vegas? 




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List Self Storage has an excellent news page dealing with self storage acquisitions and management.  Follow this link for List Self Storage News.

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TRON JORDHEIM AND STOREHERE FORM JOINT VENTURE

A Joint Venture between Store Here Management and Tron Jordheim creates Self Storage Strategies.

A Joint Venture between Store Here Management and Tron Jordheim forms Self Storage Strategies


August 19, 2019 - Columbia, Missouri – Press Release – For Immediate Release

Store Here Self Storage and Tron Jordheim today announced the formation of Self Storage Strategies, a consulting company dedicated to all aspects of the self-storage industry for independent owners, operators and investors. Utilizing years of experience and expertise in the space, Self Storage Strategies offers a full suite of services in self-storage management. 


Self Storage Strategies will offer years of proven expertise to new investors, established owners and management companies by combining the property, acquisition, valuation, and site analysis of Store Here with the proven management, sales and operational expertise of Tron Jordheim. The combined services offered under the banner of the new entity Self Storage Strategies is positioned to be a world-wide leader in self-storage financial forecasting, planning, acquisitions, startups, as well as marketing and management for investors and owner operators of facilities. 


Self Storage Strategies offers new and established owner operators of facilities as well as investors a menu of options within their three key services. The Self Storage Strategies Consulting Service offers owner operators an essential marketing strategy for revenue growth, technology implementation, financial planning and forecasting as well as best practices formulas for maximum profitability. Equity will be made available for selected projects as well. 


For new investors looking to enter the booming self-storage space, Self Storage Strategies offers Self-Storage feasibility and marketing studies that encompass site evaluation, market potential, projected valuation along with scenario stress tests, marketing and advertising assessments. Self Storage Strategies performs location studies along with land valuation assessments. 


Self Storage Strategies provides a full range of services for continuous operations of established facilities. Services include, back office, call centers, management services, revenue consulting, operations streamlining, vendor referrals, marketing implementation encompassing sales and training.


“We see many independent operators struggling to find the best way to market and operate facilities, so we have created a better way to serve their needs,” says Store Here Managing Partner Ryan Rogers. “We also see self-storage growing all over the world and we wanted to find a way to serve those owners in these new self-storage markets.”


Tron Jordheim, a 19 year industry veteran, spent the last four years as Business Development Manager for Store Here. “In order to compete in today’s markets independent self storage operators either need a big staff of experts or a solid independent consultancy group that can pull together all the aspects of operations, marketing, and analysis,” Jordheim says. “We see a big need for support for small, medium, and large sized operators around the globe.”


Store Here Self Storage, a division of RHW Capital Management Group, LLC (RHW) is a property management company with an acquisition and analysis division focusing on the self-storage industry. Founded in 2012, the RHW management team has over 70 years of combined expertise in funding, acquiring and operating self-storage facilities in 14 states along with owning and managing over 25 facilities. 


Tron Jordheim, a marketing consultant, is also an author as well as a worldwide speaker in the industry.  Preceding his role as the Business Development Manager for Store Here Management, Mr. Jordheim was the chief marketing officer at one of North America’s largest privately held self-storage companies. His expertise in the industry encompasses all aspects of the business of customer orientated self-storage. Tron was the director of the industry’s largest third-party call center which serviced self-storage facilities throughout the nation. 


As well as being a contributing writer to self-storage industry journals, Mr. Jordheim is the author of two books on the subject. He has been a keynote speaker in six countries addressing owner, operators and potential investors about the exponential and sustainable growth and profitability in the self-storage industry. 


Media Contacts: James J. Hanrahan (657) 224.9444 and https://www.storehere.com

                             Tron Jordheim (573) 268. 5217      https://selfstoragestrategies.com/

Store Here Self Storage

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