In the latest episode of the Self Storage Insight Podcast, Dallas Thompson of Delta Asset Management shared his journey as a young entrepreneur in the self-storage sector, starting in high school and now managing eight facilities across the U.S. In this episode, Dallas provides actionable advice on transitioning properties smoothly, optimizing tenant communications, and making smart investments in diverse markets. From strategic rebranding to leveraging software for tenant management, Dallas’s experience is a treasure trove for anyone considering diving into the self-storage business.
Dallas emphasized the importance of having a solid plan when acquiring a facility. His team prioritizes communication by sending personalized letters, putting up signage, and introducing themselves to tenants via calls to foster trust. Timing closings mid-month helps them avoid the chaos of rent collection. Additionally, they focus on rent-roll growth over ancillary revenue streams like tenant insurance to drive value quickly, especially in competitive markets.
Investing across diverse markets has been key to Delta Asset Management’s success. Dallas revealed how to assess market opportunities by researching competitors, measuring square footage per capita, and understanding property tax implications. His advice? Do your homework on each state’s reassessment rules to avoid unpleasant surprises
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