REIT-Managed to Atomic Managed

See how Atomic Storage Group took over management from a REIT and quickly implemented strategic rate increases, resulting in an 89% rise in net operating income and a 35% revenue boost within just four months, markedly enhancing the facility's market standing.

Revenue Growth

$30,189 to $43,885

Occupancy Growth

80% to 89% in four months

Challenge

Under REIT management, a facility was not meeting revenue needs, compelling the owner to seek improved financial performance quickly, particularly during the peak rental period.

Operations

Atomic signed the agreement to take over management. When we started, the property was generating $30,000 per month and 80% occupied.

Execution

After a market analysis, we adjusted the rates of highly occupied units to just below market value, ensuring our rates remained competitive. We also prepared the manager with the necessary tools to effectively address customer issues.

Results

Significant improvements were achieved swiftly, with net operating income jumping by 89% in the first month. Overall revenue increased by 35% over four months, significantly surpassing the owner’s financial targets and establishing a stronger market presence under a new brand.