Southeast Management Company Reports 4Q 2014 Financial Results
Southeast Management Company, a third party management & consulting company and owner of self-storage facilities in the southeastern U.S., has released its financial results for the quarter that ended Dec 31. The company reported year-over-year same-store revenue increased 1.8 percent for the fourth quarter and was 6.23 percent higher, along with gains in occupancy of 2.6 percent for the year-to-date. Net operating income (NOI) also reported a year-over-year increase of 11.9 percent year-to-date.
Southeast Management Company is Virginia based with a regional office in Columbia, South Carolina and currently manages and owns 9 storage facilities from Virginia to Florida. The company stresses team member empowerment and confidence so each and every member feels appreciated and is provided the tools to reach and obtain their personal goals. To learn about our consulting services, facility management services or employment opportunities, please visit our website, (www.southeastmanagementcompany.com), or call March Chase, Vice President of Operations, at 804-436-2596.
SEM would like to share some of its tips for success:
1. Understand the financial impact and importance of your Fee Income. Don’t Waive it; Collect it!!! Admin fees, invoice fees, cut lock fees, 24 hr. access fees, auction fees, transfer fees, etc.
2. Keep a pulse on the Macro: Review United Van Lines Migration Report/ Review Recreational Vehicle Industry Association Reports/ Divorce Rate/Baby-Boomers/Hispanic Communities/Macro & Micro Population Statistics/ Consumer Spending: Bureau of Labor Statistics.
3. Attend and become more involved in your Local State Association.
4. Communication between an Owner and Manager is paramount. Set expectations; achieve desired results.
5. Hire objective third-party “eye” to give you a new perspective on your operation.
6. Attend a Tradeshow(s).
7. Mystery shop your competition.
8. Mystery shop your managers.
9. Stand up and greet every customer.
10. LISTEN: An experience to make someone great.
11. Take advantage of industry forums and software tutorial videos.
12. Curb appeal: Never under estimate the importance of it.
13. Phone etiquette. Unbelievably important, especially in an industry and a world where everything is gravitating to automation. Never dismiss the value a customer has in speaking with a “live” person. Imperative to ask for and use a customer’s name throughout the entire conversation.