Prorize, a global leader in dynamic pricing solutions, today announced a partnership with The Jenkins Organization, a top self-storage operator, to roll-out its Self Storage Rent Optimizer™ (SSRO™) at over 50 facilities covering 3.5 million square feet..
The self–storage industry has seen significant growth in recent years, yet it remains highly seasonal, fragmented and competitive. As a result, prices fluctuate frequently, and many operators have turned to rule based or manual adjustments to pricing. This new agreement allows properties managed by The Jenkins Organization to benefit from automated, data-driven and efficient pricing systems that maximize both revenue and occupancy.
“Our owners are seeing increased ROI because we are now automatically adjusting prices for both new and existing customers,” said Troy Sheppard, Chief Operating Officer of The Jenkins Organization. “In the self-storage industry, it’s very difficult to know whether you have the correct price, so it’s great to have the help of science to take the guess work out of the process. The Prorize team has been very transparent and flexible in adapting their software for our company and our industry, and we are very happy with this new partnership.”
The announcement comes after a successful initial roll-out of the SSRO™ showed both revenue growth and occupancy in units under management by Jenkins.
“To be an effective competitor in the sometimes-saturated self-storage industry, you have to be armed with the right technological tools,” said Ahmet Kuyumcu, Founder and CEO of Prorize. “Our SSRO works really well because it utilizes machine learning to analyze large data sets and deliver proactive pricing changes that correctly incorporate price sensitivity and demand. We are proud to partner with the Jenkins Organization to help them stay ahead of the competition.”
About The Jenkins Organization
In 2000, The Jenkins Organization formed a self-storage property management division that currently performs third party management for over 50 facilities through its wholly owned affiliate, TJO 10 X 10 Management. In total, TJO 10 X 10 manages over 3.5 million square feet of self-storage space, serving over 21,000 customers in 5 US states.
Prorize is a global leader in revenue management solutions. Winner of the world’s top prize for advanced analytics, the 2017 Edelman Award, Prorize’s proprietary software and pricing consultants help clients capture maximum revenue from their assets. Prorize’s data driven approach focuses on mutually beneficial transactions and an optimum price point that delivers value for both customers and their clients, allowing for sustainable and profitable growth of the enterprise.Source: PRweb