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by Ben Shirey on Oct 4, 2024 2:45:00 PM
In this episode of the Self Storage Insight podcast, host Ben Shirey talks with Nate Kinet from SafeLease about the importance of tenant protection plans and insurance for self-storage facilities. Nate explains the differences between tenant insurance and protection plans, emphasizing how they both help safeguard tenants' stored belongings. He also highlights how these offerings can be a significant revenue stream for facility owners, sometimes accounting for up to 10% of a store's net operating income (NOI).
Nate advises facility owners that tenant protection plans not only reduce liability but also help avoid negative reviews or tenant disputes when things go wrong, such as theft or damage. Implementing protection plans gives tenants peace of mind and ensures they’re compensated in unfortunate situations, which enhances the overall customer experience.
Ready to Learn More About Tenant Protection Plans?
If you’re interested in learning more about how SafeLease can help your self-storage facility implement tenant protection plans, visit SafeLease.com for more information or to schedule a consultation. Their team is responsive and ready to assist with any questions you may have!
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