As a self storage owner, providing a secure and reliable service to your tenants is paramount. You want to do everything you can to ensure your tenants’s trust and your business’s credibility.

One way to promote reliability is to implement a comprehensive tenant protection plan.

A tenant protection plan ensures that your tenants’ valuables are covered in the event of unexpected incidents. This added layer of protection will mitigate the financial risks associated with theft, vandalism, or natural disasters. By offering this added layer of protection, you can give your tenants confidence that their belongings are safe.

The Role of a Storage Shield Tenant Protection Plan in Providing Comprehensive Coverage

One of the leading providers of tenant protection plans in the self storage industry is Storage Shield, a StorSuite partner.

The Storage Shield tenant protection plan offers a comprehensive suite of coverage options. designed to meet the unique needs of self storage owners like yourself. From theft and damage protection to coverage for natural disasters and even tenant-caused damage, Storage Shield’s plan provides a robust safety net. It safeguards your tenants’ belongings as well as your business.

As a self-storage owner, offering the Storage Shield tenant protection plan is beneficial to both you and your customers. For a small extra fee each month, the Storage Shield tenant protection plan is simple to implement. Your tenants have peace of mind knowing that their belongings are covered, up to a certain dollar amount, with no deductibles. You have maximized profit, tenant satisfaction, reduced liability, and more.

A tenant protection plan gives your tenants the security that you have their best interests in mind. You’re offering them extra protection and a plan to mitigate the risk of significant financial loss.

They have the assurance of knowing they will be reimbursed at replacement cost for their damaged or lost property (clothing and household linens are subject to depreciation). There are no deductibles and the fees can be collected with their monthly rent.

Key Benefits of Implementing a Storage Shield Tenant Protection Plan

Maximized Profit
By implementing a tenant protection plan, self storage owners can not only mitigate financial risks but also open new revenue streams.

Many potential tenants may be willing to pay a premium for the added peace of mind and security, allowing you to increase rates. Additionally, the reduced liability and claims processing costs can contribute directly to your bottom line. Ultimately, this boosts overall profitability.

Tenant Satisfaction
Providing a tenant protection plan demonstrates your commitment to the security of your tenant’s belongings. This can lead to higher tenant retention rates, reduced turnover, and the potential for increased referrals.

Reduced Financial Liability
Without a tenant protection plan, self storage owners may be held liable for any damages and losses incurred by tenants. A comprehensive plan can shield you from these types of financial burdens.

Competitive Advantage
Offering a tenant protection plan can set your self storage facility apart from the competition. It’s especially attractive for prospective tenants who value extra security.

Streamlined Claims Process
The well-designed Storage Shield tenant protection plan includes a straightforward claims process. Issues are addressed quickly to simplify the overall customer experience.

Understanding Coverage Options
A tenant protection plan is a contractual agreement between the facility and the tenant. Your self storage facility assumes limited responsibility for the tenant’s belongings while they are stored in a locked unit.

Customers will be reimbursed at replacement cost for their damaged or stolen property. Clothing and household linens are subject to depreciation. Protection plan fees can be conveniently collected with the monthly rent. There are no deductibles.

Covered Losses:

• Theft due to forcible entry
• Fire, smoke, lightning, or explosion
• Windstorms
• Water damage from a leaking roof or broken pipe (up to protection plan limits)
• Furs, antiques, works of art, and consumer electronics

Certain protection plans also cover:

• Cars, boats, jet skis, RVs, motorcycles, and quads stored inside units
• Document re-creation costs (up to protection plan limits)
• Moth, insect, rodent, or vermin damage up to $500
• Jewelry up to $500

Tenant protection plans do not cover:

• Loss due to flood damage
• Damage caused by dropping or moving property in and out of a storage unit
• An improperly packed unit resulting in damaged belongings
• Mysterious disappearance
• Any property stored outside a locked storage unit, including vehicles, RVs, and boats

Conclusion

By partnering with a provider like Storage Shield, you can unlock a wealth of benefits. From increased tenant satisfaction and reduced financial liability to an enhanced competitive advantage, a tenant protection plan can maximize profits, strengthen your brand, and provide an unparalleled level of security.