Improving NOI Through Auctions

There are many ways to enhance your self-storage facility’s Net Operating Income (NOI) including raising prices or lowering expenses by using cheaper service providers. With the recent introduction of reality TV shows like Storage Wars, self-storage operators are rediscovering a tool to improve their NOI by recapturing lost revenue from nonpaying tenants. Historically, the most important outcome of the lien sale was to have the unit emptied so it could be rented to a new customer and most operators recognized that the auctions were not likely to generate much cash…