Rent Rate Increases

NOTE: This section is specifically for Rent Rate Increases - if you're looking to edit a Rent Rate that's already in effect (in the instance of a correction or to price match) you need to go to the Rent Rate Change procedure.

Rent Increases are typically setup by our Revenue Management team and then presented to the Regional Directors prior to being deployed in the system. This gives the Regional Director an opportunity to review the increases and look for any "issues" - for example, if a tenant has multiple units and is scheduled to receive a substantial increase on all units at once, you might decide to lower those increases (or shuffle the amounts onto another tenant's increase to balance it out). These increases are presented to the Regional Directors in the form of a spreadsheet for final approval. 

Once increases have been approved, the system will automatically send out the Rent Raise Letters to those tenants who are scheduled to receive an increase sometime between the 20th - 27th of the month.  In these instances, there is nothing more for the Regional Director to do other than have the Site Managers confirm that their Rent Raise letters went out prior to the end of the month. 

Scheduling a Manual Rent Rate Increase

Should you need to schedule a manual increase, as in the case of an employee termination wherein that employee had previously been occupying a zero-rent unit, follow the steps below. 

1. Navigate to the tenant's account in StorAlly. (If the tenant has multiple units, select the appropriate unit.)

2. Click the "Rental" tab at the top.

3. Select "Modify Rental" on the right side.

4. Select the "Rent Raise" option on the right. 

5. Enter the "New Rent" amount in the appropriate field.

6. Ensure the "Effective Date" is correct. (The system will automatically push that date out to the 1st day of whatever month allows us to provide a 30-day notice of the increase, as is required by the rental agreement.)

7. Enter a note as to the reason for the rate change.

8. Select "Save" at the bottom.

9. If that month's Rent Increase Notices have not gone out yet, the Rent Raise Letter will be automatically generated at the time the other scheduled notices process, later in the month. 

   • • Rent Increase notices typically go out between the 25th-28th of the month. 

     • A quick way to see if notices have gone out yet:

       1. Navigate to the store in SSM.

       2. Select "Batch Process" on the left side.

       3. Select "Reprint".

       4. Select the tab at the top for "Rent Raise".

       5. You will be able to see all of the notices listed, along with the day they processed. If you do not see the notices, they have not gone out yet.

10. If that month's Rent Increase Notices have already gone out, you need to manually generate the Rent Raise Letter. 

Cancelling or Editing a Scheduled Rent Rate Increase

1. Navigate to the tenant's account in StorAlly. (If the tenant has multiple units, select the appropriate unit.)

2. Click the "Rental" tab at the top.

3. Select "Modify Rental" on the right side.

4. Select the "Rent Raise" option on the right. 

5. Locate the scheduled increase at the bottom of the prompt window that comes up and select "Cancel".

6. Follow steps 5 - 10 above to set a new increase amount and ensure an updated letter goes out to the tenant.