Why do I need a Self Storage Audit?

self storage audit Jan 10, 2018

Your self-storage facility is making money, your manager is nice and has been with you for years, your financial statements always look strong, so why do you need a self storage audit?

An operational audit is a deeper dive into your processes. In 100% of audits that I perform, I find ways to make the company run better.

Sometimes these are little tweaks, but sometimes they are massive overhauls. I once found an owner an extra $4,000/month!

Here are 5 reasons why your business needs a self storage audit:

  • Reassurance that all your money is going into your bank account
  • Confidence that all your units are being rented properly
  • Knowledge that all your processes are being followed correctly
  • To have your staff training assessed by a professional
  • To see your facility and management with a fresh pair of eyes
  • To empower your manager to be the best that she can be

Your self storage businesses may need an audit if

  • You, the owner, have never performed an audit, yourself
  • You always lets the manager do an audit
  • Your business has never had an audit
  • You want to provide the manager with resources and support
  • You want confidence that your multi-million dollar business is being run as optimally as possible

There are two types of audits: facility audit and operational audit

A facility audit checks that your deposits are going to your bank, and that all units are rented properly. Want to know the top 5 mistakes I find in a facility audit?

It’s a 3-step process that starts with your goals, concerns, and plans for the company. Then, we view your facility with my fresh eyes to show you how a new customer sees your business. Finally, it digs into your processes and answers all the questions that you should be asking:

  1. Are leases properly signed?
  2. Is inventory handled appropriately?
  3. Are units rented for the correct amount?
  4. Is the correct amount of money going to the proper place?
  5. Is the petty cash in the drawer accurate?
  6. Are my processes being followed?
  7. Are reports reliable?
  8. Is my company being run optimally?

Audits aren’t about catching your manager with his hand in the cookie jar or pointing out every little mistake that he is making. Audits are about improving your processes and empowering your managers to do the best job that they possible can.

Hear from owners and managers who love working with me:

“Magen gave me peace of mind about my self storage business. She found discrepancies at the facility and helped us strategize stronger processes to ensure that our rentals are being handled properly. Now, I know that all my money has been deposited into my bank and that my business is growing. Thank you, Magen.” – Ronald Fremin, Owner Fremin Climate Control  

“Magen is very efficient and professional. She performs all of her work in a timely manner and is very thorough. I love bringing Magen in to do our facility inspection. It’s a great way to show the owner that we are doing a good job and that all our paperwork is in order.” – Michele Ledger, Office Manager Fremin Climate Control

Learn more:

Top 5 audit mistakes found

What to expect during an audit

2 types of audits

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