Graham Investments Boasts 80% Improvement in Lien Loss Recovery with StorageTreasures

 

Graham Investments Boasts 80% Improvement in Lien Loss Recovery with StorageTreasures

 

February 19, 2019 – Phoenix, AZ. StorageTreasures, LLC, the leading online storage auction platform, has helped Graham Investments maximize lien loss recovery efforts to the tune of an 80 percent increase over live auctions at their self storage facilities in Colorado, Texas, and Nevada. Despite sticking to many traditional practices in the management of their facilities, Graham Investments just celebrated the one-year anniversary of their first auction on StorageTreasures.com and isn’t turning back.

Based out of Colorado, Graham Investments has a long history of success in the self storage industry, with a pedigree that dates as far back as the 1970s. With decades of industry experience,12 facilities open and operating, and additional properties in development, Graham Investments is a growing enterprise that relies on new technology solutions to increase their operational efficiency. “We are always working to maximize profits,” stated Hank Thomas, Graham Investments District Manager, and StorageTreasures has tangibly reduced their lien losses. “I have been going facility to facility and turning them over [to StorageTreasures] one-by-one.”

Hank was disappointed with Graham Investments’ live auctions, where poor turnout and loyalties or intimidation among bidders caused units to sell for detrimentally low amounts. After an unsuccessful attempt to switch to online auctions using another site, Hank tapped into the local bidder community to see who they buy from online. Their answer? StorageTreasures. With a reputation that attracts high-quality buyers, strict policies that terminate auction winners for no-shows, and a pool of backup bidders on standby should a no-show occur, StorageTreasures eliminates many of the concerns that typically accompany a move to online auctions.

“Efficiency is the biggest bonus,” added Hank. “The process is much cleaner, once the managers lien the units we have 100% control over how it’s auctioned, and no foot traffic through the facility which removes liability. We control the date of the auction and don’t have to follow an auctioneer’s schedule.” Hank also has more options for recouping losses tied to delinquent rent, and lien and auction fees, and has even seen better results with unit cleanout after auctions– a fact he attributes to better buyers. In his year with StorageTreasures, Hank has seen dozens of units sell for more when posted online.

“People who are not doing auctions with StorageTreasures are missing out big time!” exclaimed Hank. StorageTreasures makes the auction listing process easier, faster and gives facilities more flexibility while bringing a built-in buyer clientele. In addition, it helps bridge the gap between bidders and sellers, with dedicated customer service managers that prepare both parties for a successful auction. StorageTreasures provides best practices for online auctions, lien law resources and hands-on training for sellers, and works with bidders to ensure they understand the commitment involved in bidding on, buying and cleaning out units.

“Customers like Hank understand the value our service provides, and the passion our people have for giving superior and professional support. Since 2011, we have been perfecting the art of online storage auctions, working creatively to connect bidders and sellers throughout the United States and Canada. Our ever-evolving platform has been the vendor of choice for over 10,000 storage facilities transitioning from live to online storage auctions. As Graham Investments continues to expand we make it easy to on-board new facilities,” states Chelsea Horne, Product Owner of StorageTreasures.com. “Working together is key in our ability to provide innovative solutions to property owners and storage customers.” With a 70% to 80% improvement in their lien loss recovery, Hank plans on bringing all of Graham Investments’ facilities on board.

To learn more about StorageTreasures, contact OpenTech Alliance at sales@opentechalliance.com.

 

Self-Storage Operator Replaces Access Control with INSOMNIAC CIA

 

Self-Storage Operator Replaces Access Control with INSOMNIAC CIA

February 7, 2019 – Phoenix, AZ, OpenTech Alliance, the leading developer of innovative technology solutions for the self-storage industry announced Fox Trail Mini Storage, a family owned business in Kinston, NC has upgraded their Access Control to INSOMNIAC CIA after lightning destroyed their PC based access control system.

Fox Trail Mini Storage owner Amy and Chris Rouse had heard the saying, “lightning never strikes in the same place twice,” however, he wanted to make sure he had researched all the Access Control options on the self-storage market before replacing his keypad. “The lightning storm zapped my Falcon XT, right down to the readout on the keypad,” exclaimed Chris.

“When I took over the business in 2016, we had a stand-alone keypad where I would have to physically go out the keypad and input codes manually. When we upgraded, I no longer needed to walk to the keypad, but we did encounter lots of issues of having to reset the system when the computer went down and support was another thing, we had to submit an online ticket and sometimes wait days to be assisted. That was frustrating and not how we do business; we offer exceptional

customer service to our customers at Fox Trail Mini Storage and I wanted the same when it came to our vendors. When I started researching OpenTech’s CIA Access ControI, I realized our May 2018 lightning strike would allow us to make one of the best business decisions for our expanding self-storage business,” Chris commented.

“Since upgrading to CIA we have noticed a change in our business on various fronts; real-time alerts, reports on how many times tenants are accessing our location, giving tenants hands-free access through the Storage Genie mobile app, and knowing I have Lifetime Protection on the hardware and someone to pick up the phone when I need customer support,” added Chris.

“We built INSOMNIAC CIA from the ground up for the self-storage industry to address issues with older PC based systems including technology, warranty, installations, and support to solve frustrations that operators like Chris experience,” stated Robert A. Chiti, CEO of OpenTech Alliance. Robert added, “CIA has been listed to Underwriters Laboratory spec UL294 for Access Control as well as independently tested to withstand surges of 20,000 Volts and 10,000 Amps, so if lightning does strike twice, we have Chris covered!”

To learn more about INSOMNIAC CIA, contact OpenTech Alliance at sales@opentechalliance.com.

 

The Last Word

 

The Last Word

by Robert Chiti

Open Platforms Are Good for Everyone

When self-storage operators first started using technology it was in the form of PC software that was by its very nature isolated and rarely integrated with other systems.  Early integrations included exporting data files other systems could read, including credit card processing software and access control systems. Because the unencrypted data files were automatically created and exported to a shared hard drive the originating software vendor could not control who could use the data, resulting in a true Open Integration.

Today, things are a bit different. Software systems now send data and commands back and forth through what is known as an Application Programming Interface (API).  Here is where the problems start, for security reasons some type of authentication code needs to ensure the system trying to access the API has been authorized and is not a hacker. So this means the use of the API needs to be restricted. In most cases these restrictions are good for the self-storage operator, they make the entire system more secure and protect the self-storage operator’s data, and can also ensure the systems using the API are programmed efficiently so they do not cause performance problems for the users. However, in some cases, vendors put restrictions in place to limit competition or control the operator’s data. These closed end-to-end type systems can have a very negative impact on the success of a self-storage business.

Closed end-to-end platforms get self-storage operators “hooked” and then limit the other solutions that can be integrated with, to only solutions they sell, in some cases forcing the user to implement substandard technology. This approach can be very good for the vendor, but disastrous for the self-storage operator.  These platforms typically end up costing the self-storage operator much more because they have no choice but to use the products offered by the vendor.

A truly open technology platform offers it’s APIs to all other vendors so a self-storage operator has the freedom to choose the specific solution they feel is best for them, instead of having to be held hostage and forced to only buy solutions from one vendor.  A truly open platform sometimes referred to as Internet of Everything (IoE) platform allows all kinds of devices, applications, systems, and people to work together regardless of the vendor.

For example, with a truly open platform, an internal or third-party call center storage counselor can have real-time access to all the transaction data recorded in an access control system and can open a gate for a customer stuck behind the gate after hours without having to give out a temporary code that has to be changed later…. regardless of if the call center vendor competes with the access control vendor in other product areas.

So my Last Word is OPEN.  End-to-end platforms that try to lock out competitors are bad for self-storage operators and bad for the industry as a whole.  Self-storage operators would be wise to make sure they are only investing in technology that is backed by a vendor committed to providing open technology.

*Published in MiniCo Messenger, January 2019