Prepayments In Self Storage Business. Cloudless Sky For Your Finances
Prepayments mean long-term stability for you and your customers. The only thing you still need is smart software.
- Prepayments are a new functionality that we provide in the SavvyLockers software.
- SavvyLockers makes it easy to manage your self storage facility, including prepayments.
- SavvyLockers will generate a prepayment invoice and automatically send it to the tenant, sticking to the agreed deadlines.
You can also find out about other aspects of your finances here: How can you shape prices in self-storage? Some valuable tips.
Benefits of prepayment
It is customary to charge for box rentals in advance or in arrears and set a seven-day payment deadline on the invoice. However, there are situations where you need additional guarantees. This may be the case, for example, in high season, when there is high occupancy of the boxes, or in case of unusual rental periods. In these situations, you can offer willing tenants to pay for their boxes further in advance. This will be a win-win solution – your customer has a guaranteed reservation or space for a longer period. You are assured that the box will not stand empty and, at the same time, you gain financial stability! From now on, prepayment are also a new functionality that we provide in our SavvyLockers software.
How to smartly manage prepayments?
With good software, this is not difficult at all. SavvyLockers makes it easy to manage your self-storage facility, including prepayments. So – shall we get started?
Log in to the system and enter the Tenants module. Here you can add a new customer and set up his billing or look at the billing details of an existing one. If you have proposed a prepayment to a tenant, now in the “payment term” field enter the appropriate number of days preceded by a “minus” sign. Simple? Our system allows you to:
- set any prepayment length between 1 and 30,
- generate an invoice taking this period into account.
And that’s basically it – the rest will happen on its own. SavvyLockers will generate an invoice and automatically send it to the tenant, scrupulously keeping to deadlines. The customer will receive the invoice at the right time, because the system will take into account the following three pieces of information:
- prepayment deadline,
- the invoicing date,
- the billing period.
What does this look like in practice? Let’s assume that Mr Smith, who has decided to rent boxes in your self-storage, wants to receive invoices 3 days in advance, once a month. You have also agreed that he will pay the fees on a 7-day prepayment basis. Click, click, click – you set it up once and the software will take care of the rest. Mr Smith will now receive invoices regularly every month, 10 days before the rental period, i.e. three days before the due date. Isn’t that smart?
You can keep track of the impact of new rental payments or check on overdue ones in our event monitor. You can read about it here: What happened in self-storage? First hand news!
Bet on the SavvyLockers
One swallow does not make a summer, but good software does! We are the producer of the SavvyLockers system, which we have written from A to Z especially for self-storage facilities. We own such a warehouse at the same time, so we know from experience what is going on in the box. We are constantly working on the development of the software, adding friendly and useful solutions, responding to the needs of our customers. Out of this need came the prepayment option, which is now available in the new version of the software.
Want to click around and see how it works? Let’s meet for a coffee or an online presentation!
| Barbara Korytkowska New Business Coordinator bkorytkowska@savvylocker.com 539 144 588 | SavvyLockers office office@savvylockers.com 884 205 284 |
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