Storage managers
CubeSmart Third-Party Management
CubeSmart's third-party management program operates self-storage facilities owned by other people under the CubeSmart brand, from lease-up through stabilization and long-term operation.
Each owner gets a relationship manager based at the corporate office as a single point of contact no matter how many stores they own, a local district manager who runs the facilities day to day, and a dedicated property accountant who reviews income and expenses, pays the store's bills and sends monthly financials. The management fee is a percentage of gross revenue with facility-level expenses passed through, and it covers operations, marketing, revenue management, human resources, IT and accounting. Before a store opens CubeSmart builds a projection of expenses, revenue, NOI and lease-up; after that the owner approves a budget each year and can pull more than 20 reports on demand, plus a daily scorecard by email.
The platform reports more than 875 managed stores, 240 owner partnerships and 58 million rentable square feet, describes itself as the second largest management platform in self-storage, and has run third-party management for more than 15 years. District managers average over 18 years of multi-unit management experience and the cross-functional leadership team over 17 years, with operating practices proven across nearly 1,500 facilities. Marketing runs on paid search, SEO, local listing and aggregator management at national scale; facility services cover inspections, capital budgets, vendor management, emergency response and energy.
CubeSmart says managed stores are treated the same as stores it owns, with no difference in call center handling, marketing or revenue management, and that a portion of tenant insurance profit is shared with owners. The fee percentage itself is not published, so the management agreement and the expense pass-through need to be priced directly.
Best for
Self-storage owners, from one store to a portfolio, who want national brand, call center and revenue management instead of hiring their own staff; the fee is a share of gross revenue, so a very small or thin-margin store should pencil it first.
What they do
- Third-party self-storage management
- Revenue management and dynamic pricing
- Paid search, SEO and local listing marketing
- Aggregator listing management
- National sales center call handling and reservations
- Store staffing, training and district management
- Property accounting and monthly financial reporting
- Facility inspections, capital budgeting and vendor management
- Energy management services
- Lease-up and store transition support
Details
| Attribute | Value |
|---|---|
| How they charge | Management fee is a percentage of gross revenue with facility-level expenses passed through to the owner; the percentage itself is not published. |
What stands out
- Manages more than 875 stores across 240 owner partnerships and 58 million rentable square feet
- Says it is the second largest self-storage management platform, with more than 15 years in third-party management
- District managers average more than 18 years of multi-unit management experience
- Operating practices are run across nearly 1,500 self-storage facilities nationwide
- Shares a portion of tenant insurance profit with owners
Common questions
- How is the management fee calculated?
- The fee is based on gross revenue, and facility-level expenses are passed through to the owner. It covers management from CubeSmart's internal operations, marketing, revenue management, human resources, information technology and accounting teams.
- Who does an owner work with day to day?
- A relationship manager at the corporate headquarters is the main contact regardless of how many facilities an owner holds, supported by local district managers who know the markets and a dedicated property accountant who reviews property income and expenses, pays the bills and issues monthly financials.
- Are managed stores treated differently from CubeSmart-owned stores?
- CubeSmart says every managed facility is treated equally to a CubeSmart-owned facility, with no difference in call center interactions, internet marketing, revenue management practices or any other service.
- What reporting do owners receive?
- Owners have access to two systems offering more than 20 reports on demand, plus a daily scorecard emailed each morning covering rentals, vacates, occupancy, revenue and accounts receivable.