e get into self-storage to have more time and money, so our goal is to automate and have great training platforms and systems so we can delegate as much as possible to our team. But there are a few things you must do yourself to ensure it is done on time and done right. By doing these things yourself, you will have confidence in the results and the next steps.

Too often properties get rejected 30 to 90 days after the purchase contract is signed and tens of thousands of dollars have been spent (wasted) due to a property defect that would have been observed on the site walk. Here is a list of items to look for on your site walk: steep slopes, wetlands, brooks, ponds, power lines, encroachments by the neighbors, cemeteries, vehicle junk yards, dumpsites, or abandoned buildings.

It is best to use a free hunting app on your phone that will show the property lines and where you are standing on the property to make sure you walk the entire property. If you find a problem, you can mark the location to have your team review it sooner rather than later. You can also ask your civil engineer to accompany you to get his/her input early on.

Early on, you are going to have to decide if there is demand at rental rates high enough for you to make a profit. Some of the facilities may not be your competition, but you will not know until you visit each one.

You should have a checklist ready to fill out as you will refer to it multiple times. The review checklist should describe and rate the following: location, street view, property condition, office, office hours, manager, kiosk, office and web rates, how long rates are good, fullness of the facility, cleanliness of the facility, size of the showroom, the manager’s greeting (Was it in front of the counter?), facility tour (Did the manager show you a unit?), sales pitch (Did the manager ask for the rental?), ability to close (Did the manager overcome your concern and ask for the rental again?), and follow up (Did the manager get your number and call you back?).

A facility visit will help you determine how you will stand out from the competition and help you set your rates with confidence. You will often be amazed that the competition is so bad that your rates can be 30-plus percent higher than their rates.

It makes no sense to pay $8,000 for a third-party feasibility study and wait eight weeks only to find out the location does not work financially. About 70 percent of the sites reviewed by a third-party expert fail. Often, you will find many locations will not work because the competition’s rates are so low and/or because the property is priced too high.

We use an Excel spreadsheet calculator so a preliminary P & L can be done in minutes. Having a calculator makes it easy to do multiple P & Ls with varying components like interest rates, construction costs, and rental rates.

If you do not hire your own manager, you are leaving $100,000 per year profit on the table. You simply can’t leave the decision on who is going to be the face of your business and run your $15 million to $20 million business to someone else and expect good results.

The best way to know if the manager is 100 percent compatible with you and fully understands the job requirement is to be at the multiple interviews yourself.

Here are 10 of my favorite mandatory rules in no particular order:

• Follow the dress code.
• Walk/clean the site two times a day.
• Enter every prospect into the software and call back in 24 hours.
• Do not discount the price or waive fees—no exceptions.
• Open the facility on time and keep the computer and lights on until closing.
• Follow the monthly marketing calendar to a T.
• Sweep and mop the office daily.
• Use scripts.
• Call late tenants per our standards and add notes to software.
• All renters must buy tenant insurance.

This is the hard one because it takes time and is easy to put off. You have heard it before: trust but verify. Many items you can check by reviewing reports sent to you automatically every week from your management software. These include starting on time and all financial variances like rent discounts or fee waivers etc.

Others can be checked by logging into various programs. For example, the management software will allow us to confirm past-due renters have received the prescribed text messages and managers have added the phone call notes to the program. Listening to managers’ phone calls is a must to confirm they are following the scripts. Secret shops by a third-party business are worth every penny to make sure your managers are doing a great job.

Some items can only be checked by visiting the manager and site. Regular on-site staff meetings with occasional surprise visits will confirm the office, site, and units are clean. Performing a detailed, on-site lock check each month is a great way to confirm the units and paperwork are in order. The same goes for a monthly on-site visit to check the paperwork. This also allows the staff to regularly ask questions and for you to provide ways they can be more efficient and promote the business better.

There is no such thing as a 100 percent hands-free business, but self-storage is close compared to the other business choices.