The Average Salary of an On-Site Manager for the Self-Storage Industry
Self-storage facilities lease space to businesses and individuals to store their goods and personal belongings. According to the Self Storage Association, self-storage has been the fastest growing sector in commercial real estate for the last 35 years, earning more than $20 billion annually, as of 2010. Self Storage managers are responsible for 50,000 storage facilities nationwide. Most self-storage managers are owner-operators. Both employee managers and owner-operators earn part of their compensation in the form of on-site housing. Along with an apartment, on-site managers are paid about $20,000 to $28,000 a year on average, as of 2011.
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Duties
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Self-storage managers are part retail store manager and part property manager. Their primary job functions include sales, customer service, collections, office duties, facility maintenance and repair, and management of employees and sub-contractors. They rent storage units, present and complete customer agreements, collect payments, assess fees, handle problems, and foreclose on delinquent units. Managers also maintain the appearance and security of facilities, clean up and dispose of remaining trash and make sure the properties are well kept. Managers inspect the property and address any after-hours issues.
Earnings
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As of 2011, Extra Space Storage listed positions on its website for on-site managers. Pay ranged from $8.39 to $14.40 an hour. Off-site manager hourly pay ranged from $10.28 to $17.64 an hour. As of 2011, Public Storage Property Manager salaries ranged from $10.00 to 12.00 per hour for on-site or off-site positions with an additional incentive bonus up to $2.25 hour after six months. Managers were also eligible for health, retirement and vacation benefits.
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Considerations
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Although many resident managers are employees, most are small-business owners with one or two units working as owner operators, thus able to earn a larger portion of the profits. The rest work for the five biggest players: U-Haul International, Extra Space Storage, Public Storage, U-Store-It Trust and Sovran Self Storage.
Outlook
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Advancing to a district or multi-unit manager is possible for managers with a college degree.
The Self Storage Association reported that during 2010 less than 250 new facilities were opened, thus possibly signaling a slow-down in the industry.
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References
Resources
- Photo Credit Brand X Pictures/Brand X Pictures/Getty Images
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Comments
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I would like to get a application.
