Choose the ones most relevant to whether you’re an owner/operator of a facility or primarily focused on real estate investment in this sector.

Occupancy KPIs

• Occupancy Rate: Percentage of available storage units currently rented out. Key metric for tracking how full your facility is.
• Economic Occupancy: Measures your actual collected rental income as a percentage of your potential gross income if fully occupied. Accounts for discounts and vacancies.
• Average Length of Stay (ALOS): Average duration a customer rents a storage unit. Longer ALOS increases revenue stability.
• Move-Ins and Move-Outs: Track the number of customers moving into and out of your facility during a given period. Helps understand tenant churn.

Revenue & Pricing KPIs

• Revenue per Available Unit (RevPAU): Total rental revenue divided by the number of available units. Helps track revenue optimization.
• Revenue per Occupied Unit: Average revenue generated per occupied storage unit.
• Average Rental Rate: Average price charged per storage unit. Analyze this by unit size and features.
• Price Changes: Track how often you adjust rental rates and the impact of those changes on occupancy and revenue.

Financial KPIs

• Net Operating Income (NOI): Total revenue minus operating expenses. Key measure of profitability before debt and taxes.
• Gross Profit Margin: Percentage of revenue remaining after direct operating expenses (property taxes, utilities, labor, etc.).
• Cap Rate (Capitalization Rate): NOI divided by current market value of the property. Key metric for real estate investors.
• Cost per Square Foot: Tracks your operating costs relative to the size of your facility.

Customer-Focused KPIs

• Customer Satisfaction Surveys (CSAT): Measure satisfaction with the rental process, facility cleanliness, security, pricing, etc.
• Online Reviews: Monitor reviews on platforms like Google and industry-specific sites. Gauge customer sentiment.
• Referral Rate: Percentage of new customers who came via referrals from existing customers.

Operational KPIs

• Delinquency Rate: Percentage of tenants who are late on rent payments. Lower is better for cash flow.
• Maintenance Costs: Track spending on repairs, upkeep, and cleaning of the self-storage facility.
• Website Traffic: If you offer online reservations, track the number of visits to your website.
• Facility Security: Track incidents of theft or vandalism to assess your security measures.