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EasySpace Storage Solutions : A Strategic Bet on Self-Storage
Project type
Self Storage Facility
Date
April 2022
By the time Tyler Kania acquired EasySpace Storage Solutions, he’d already seen the numbers on self-storage, and they didn’t lie.
Self-storage is one of those “quiet kings” in real estate—reliable, low-cost, and a cash-flow powerhouse. EasySpace, however, was stuck in neutral. It had a strong location and a decent customer base, but there was room for serious improvement. Tyler knew that with a few strategic changes, EasySpace could be transformed from a “just okay” facility into a major profit driver.
The Deal That Got it Done
Tyler crafted a deal that allowed Legacy to secure EasySpace without front-loading capital. Using asset-backed lending, he was able to use the value of the property as collateral, securing favorable financing terms. Additionally, Tyler negotiated seller financing, reducing the immediate out-of-pocket expense for Legacy and freeing up capital for operational upgrades from day one.
The EasySpace Transformation
Once the deal was finalized, Tyler went to work. EasySpace had the fundamentals but lacked optimization. Here’s what he changed:
Maximizing Capacity: Tyler immediately expanded the facility’s storage capacity by adding additional units, including premium climate-controlled spaces. This wasn’t just about adding volume; it was about giving customers options. Premium units meant higher margins, and they attracted a clientele willing to pay for security and quality.
Smart Pricing: Self-storage often suffers from outdated pricing models. Tyler changed that with a dynamic pricing system. Rates were adjusted based on unit demand and occupancy, ensuring that EasySpace was always competitive and maximizing revenue per square foot.
Digital Marketing: Tyler’s team launched a targeted digital campaign that brought EasySpace to the forefront in local search results. They used Google ads, local partnerships, and social media marketing to increase visibility and bring in new customers. This wasn’t just filling the units—it was putting EasySpace at the top of the list for anyone looking for reliable storage.
Customer Loyalty Program: To keep occupancy rates stable, Tyler introduced a loyalty program for customers who committed to longer-term leases. It was a simple addition but one that kept units occupied, especially in off-peak seasons, making EasySpace’s revenue consistent month after month.
The Financial Turnaround
Within the first year, EasySpace’s occupancy rate surged by 35%, and revenue increased by 20%. EasySpace had gone from an underperforming facility to a cash-flowing asset that operated at full capacity most of the time. It wasn’t just about the storage units—it was about the systems Tyler put in place to make EasySpace a top-choice facility in the market.
Tyler’s vision for EasySpace was clear: build a storage business that didn’t just store things but generated maximum value per square foot. It was another move in Legacy’s portfolio that showed how Tyler could turn simple assets into high-yield machines with the right tweaks.