Nolan Peek

Neighborhood kid turned self storage owner and operator

[Dan Miller @DanMillerFox2]

Very nice touch by the @Lions to honor our boy Capoots.

[Nolan Peek @NolanPeek3]

@BradGalli What is the best way to watch the tigers if you live out of state?

[Nolan Peek @NolanPeek3]

@bfidelman How can people out of state watch the tigers without getting MLB tv?

[Nolan Peek @NolanPeek3]

@sweatystartup Buying a 95% occupied storage facility but half the tenants are paying 2021 rents

For reference
116 Units
$55 vs $120 market

When you push rents, how many do you realistically lose?
Do you phase increases or rip the band-aid?

Also adding $17 tenant protection

[Nolan Peek @NolanPeek3]

@Storage_Venture Buying a 95% occupied storage facility but half the tenants are paying 2021 rents

For reference
116 Units
$55 vs $120 market

When you push rents, how many do you realistically lose?
Do you phase increases or rip the band-aid?

Also adding $17 tenant protection

[Nolan Peek @NolanPeek3]

@Storage_Venture Down here for a wedding as well. 10 minutes from downtown, Sunday was a little crazy but honestly since then it has not been that bad. Hope your cousin is doing well!

[Nolan Peek @NolanPeek3]

@bairdk If you acquire a ~400-unit SS facility where tenants pay cash or cards are manually run, what % of customers do you expect to lose when moving everyone to ESS or Storable?

Context: no management software today — everything is tracked on spreadsheets.

[Nolan Peek @NolanPeek3]

@sweatystartup If you acquire a ~400-unit self-storage facility where tenants pay cash or cards are manually run, what % of customers do you expect to lose when moving everyone to ESS or Storable?

Context: no management software today — everything is tracked on spreadsheets.

[Nolan Peek @NolanPeek3]

@Storage_Venture If you acquire a ~400-unit self-storage facility where tenants pay cash or cards are manually run, what % of customers do you expect to lose when moving everyone to ESS or Storable?

Context: no management software today — everything is tracked on spreadsheets.

[Nolan Peek @NolanPeek3]

@Storage_Venture Curious — did you notice a spike in vacancy after the switch? We’ve been lucky so far: every facility we’ve acquired was already on the same platform. But I’ve always wondered about the ripple effects of migrating 120–200 tenants to something new.

[Nolan Peek @NolanPeek3]

@Storage_Venture Love it!!

[Nolan Peek @NolanPeek3]

@bairdk @MattEngfer @CubbyStorage What was the final nail in the coffin for you to switch out of East Storage?

[Nolan Peek @NolanPeek3]

@Storage_Venture 'Less than your Target budget this month' is BOLD, love it

[Nolan Peek @NolanPeek3]

@swimschoolJosh I’ve thought about it, at our storage facility we are paying $340 a month in CC fees, makes me cringe seeing that end of year total

[Nolan Peek @NolanPeek3]

@bairdk If a tenant rents both an RV space and a unit, and is behind on the unit rent but continues to pay for the RV space, how should you handle locking them out of the property? Does your lease specify that all units/spaces must be current?

[Nolan Peek @NolanPeek3]

@Storage_Venture If a tenant rents both an RV space and a unit, and is behind on the unit rent but continues to pay for the RV space, how should you handle locking them out of the property? Does your lease specify that all units/spaces must be current?

[Nolan Peek @NolanPeek3]

@Storage_Venture I hate when people try to sell that the asking price is now lower. It doesn’t mean that it’s valued correctly now. It just means that it was valued incorrectly in the first place

[Nolan Peek @NolanPeek3]

@Storage_Venture What’s your plan for someone who is 60 days late on rent but doesn’t have a rental agreement in place? Can you still sell their stuff at auction? Do they hold any leverage over you if you do sell it because technically they never agreed to pay.

[Nolan Peek @NolanPeek3]

@ChrisRamsey60 Yes! Took 16 months to get our first offer accepted. One week later we had another LOI signed

[Schandy @D_Schandy24]

Therapist: Why are you here?

Me: