If you’re not charging (or enforcing) late fees, you’re losing thousands in revenue every year.
Many self storage owners hesitate to enforce late fees because they don’t want to upset tenants. But here’s the truth: Late fees aren’t about punishment—they’re about behavior. If you don’t enforce them, tenants have no reason to pay on time, leading to more delinquencies and costly auctions.
In this episode of 3 Minutes with 3 Mile, I’ll break down the biggest late fee mistakes and how to fix them to increase your cash flow immediately.
What You’ll Learn:
- Why inconsistent or waived late fees cost you money
- How to automate late fees so they’re applied every time
- The simple way to reduce delinquent accounts and improve cash flow
📩 Want my Self Storage Late Fee Policy Template?
Email me at jim@3milestorage.com with the subject line “Send Me the Template”, and I’ll send it to you for free.
Need Help Increasing Your Revenue?
At 3 Mile Storage Management, we help self storage owners increase collections, reduce delinquencies, and improve overall cash flow. Book a free consultation at www.3milestorage.com.
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