In the latest episode of the Self Storage Insight Podcast, Ben Shirey breaks down the often-confusing world of credit card disputes and chargebacks. When tenants dispute a transaction, it can lead to frozen funds and potential cash flow issues for storage businesses. Ben explains the process—from when a customer initiates a dispute to the steps owners can take to respond effectively. Key insights include responding within the 14-day window, submitting detailed evidence (like leases and payment histories), and even reaching out to customers directly to resolve disputes quickly. Avoiding disputes altogether by ensuring clear communication and accurate statement descriptors can also save businesses from headaches down the line.
If disputes and chargebacks are affecting your cash flow, take proactive steps to secure your revenue. Implement clear payment policies, maintain detailed records, and explore tools like CCStorage software, which helps streamline payment processing and boost your business’s bottom line. Don’t forget to subscribe to the Self Storage Insight Podcast for more actionable tips and strategies for self-storage success!