By Eric Daviscourt

he self-storage landscape is becoming increasingly competitive, especially for smaller operators who struggle to match the marketing might of the REITs. But that doesn’t mean smaller operators can’t compete–and even beat–larger players. You can still win with strategic, low- or no-cost perks that many tenants find highly attractive. Here are five perks smaller operators can offer to outcompete the REITs.

If you have a moving truck, or even just a pickup and trailer, you can offer it free for move-ins (within a reasonable radius from your facility, of course). Include the use of moving dollies, carts, and furniture blankets to sweeten the deal. You provide the truck and equipment, while they provide the labor.

This is a major incentive for tenants who not only save money on renting a moving truck but also avoid the hassle of picking up and returning it. Sure, you or your employees will need to drive the truck yourself, which takes some time, but a free moving truck with driver is a value-added service that can truly make you stand out and win business.

You can even offer the truck when they move out, provided they stay for a year or more, which can be a great way to encourage tenants to extend their stays at your facility.

With the average cross-town truck rental costing at least $50, this perk could easily save tenants $100 or more between their move-ins and move-outs. Plus, they’ll get to use your moving equipment for free, which often represents an extra rental cost.

Before you start advertising, be sure to check with your insurance company about any additional coverage you might need for transporting your tenants’ items. You’ll also need to have tenants drive their own vehicles, because you don’t want the liability associated with transporting them.

Ultimately, providing a free moving truck is a goodwill gesture that will likely earn longer-term tenants and enthusiastic word-of-mouth advertising. With this perk, you’re not selling the truck; you’re selling convenience.

Another money-saving perk you can offer to tenants is the use of a lock during their stay. This is especially useful if you prefer (or require) certain types of locks for added security, such as disc locks that are difficult to cut and force open.

Tenants often overlook locks when they’re moving in, and they don’t necessarily love the idea of buying them from facilities, especially if markups are through the roof. Providing locks can reduce friction by eliminating unexpected purchases at move-in.

Moreover, by providing high-quality locks from brands you know and trust, you’ll likely reduce emergency calls about things like jammed or broken locks. Thus, free locks aren’t just a great perk for tenants. They can also grant you peace of mind in knowing new, working, highly-secure locks are being used on every unit at your self-storage facility.

One of the biggest complaints tenants make about REIT-owned storage facilities is perceived bait-and-switch tactics: They advertise ultra-low introductory rates, only to raise them significantly after just a few months. Over the course of a year, REIT tenants often unwittingly pay more than if they had chosen a smaller operator in the first place, but that’s often not evident when they’re comparing introductory rates.

You can compete by guaranteeing rates for a full 12 months. Tenants will appreciate the transparency in knowing they won’t experience unexpected price hikes, as many people dislike surprise price increases more than higher upfront rental rates.

Your 12-month price guarantee not only simplifies comparison shopping, it can also show tenants you respect them. When they know exactly what to expect, they won’t feel bamboozled; they’ll also be more likely to refer their friends, family members, and colleagues and to rent space at your facility well beyond the initial 12 months.

Educating potential tenants is key. Show them the math. Your website, social media, and office are perfect places to display a side-by-side breakdown of total costs over one year, including anticipated price increases and hidden costs (see No. 4).

The monthly rate is one thing. Additional costs are another. Administrative fees and insurance requirements can add up, but they’re often not reflected in the rates advertised by large self-storage facilities.

For many tenants, these “hidden” fees can turn excitement about low rates into regrets over choosing larger operations. That makes it a golden opportunity for smaller storage facilities to educate potential tenants. Make it clear that you do not charge administrative fees or insurance requirements, which often cost around $16 per month alone, adding $120 per year to total fees. Show tenants how your pricing is 100 percent transparent, with no surprises at checkout.

You can even do the math for your tenants on your website. Use a table to directly compare a local competitor’s rates to yours, including all fees and projected rate increases over a year, to show prospects why it makes more economic sense to choose your facility over the REITs.

This perk makes honesty a competitive advantage, and one many prospective tenants will respond to. Show tenants how much they can save because you don’t charge hidden fees, and you’ll appeal not only to their sense of frugality but also their appreciation for transparency.

Offering month-to-month discounts can be a great way to win business from seniors, students, and military members, all groups that will appreciate discounted pricing. Not only that, but your commitment to these groups can also attract other tenants who support them. People want to do business with people, especially the people who take care of those who are near and dear to their hearts.

Offering discounts to specific groups like these is more about showcasing your values than it is about pricing tactics. You’re showing your local community that you support veterans and military members, college students, and senior citizens, and that means something.

These are tangible perks you can offer, but don’t discount the value of in-person interactions and exceptional customer service. Think about your own experiences: Would you rather do business with a corporate suit you don’t know or the people you see at your kids’ little league games?

Many customers would rather deal with a local owner or manager than a faceless facility, and they’ll appreciate the flexibility, personalization, attention to detail, and customer service that often comes with staying local. Use it to your advantage in your marketing: Ask for testimonials you can post on your website and reviews for your Google Business Profile, which plays a key role in SEO-driven visibility. The more people see recommendations from other community members they know and trust, the more likely they are to rent from you.

None of this is to say that competing against REITs isn’t challenging, but it does mean that you can leverage high-value perks to compete. Study your competition and do what the REITs can’t do or won’t do, and your self-storage facility will be well-positioned for success.