Distinguishing Characteristics of Revenue Management in the Self-Storage Industry
This brief paper reviews how seven characteristics of the self-storage industry affect designing and implementing revenue management systems in that industry. The characteristics we focus on are:
- Low transaction volume
- Length of rent is not controlled by the rental agreement
- Rates can be changed during the term of the rental
- Individual contracts and transactions can be reviewed
- Conventional revenue management purchase fences may not be applicable
- Computational requirements are reduced
- Revenue management strategies and tactics are in their infancy
by Warren H. Lieberman | Published Jun 2007