For the past year, I've been speaking with self-storage owners and operators all across Quebec. And there's one topic that comes up almost every time:
The real challenge isn't filling units — it's managing late payments.

Late payments don't necessarily put your business at risk, but they distort several key metrics, especially if your goal is to maximize the value of your investment for a potential sale or revaluation.
A tenant behind on payments affects your true occupancy rate, reduces your revenue per square foot, and negatively impacts the perceived performance of your facility.
Over time, it means your business is valued less than it could be.

So, how do you tackle this problem? Here are some practical strategies:

Set up automatic late fees and a sequence of payment reminders

Implementing automatic late fees the moment a payment is overdue sends a clear message from day one.
Pair it with a sequence of automatic reminders — by email or SMS — a few days before and after the due date, and you'll drastically cut down on late payments caused simply by forgetfulness.

Offer online credit card payments

Allowing tenants to pay by credit card online is one of the most effective ways to reduce late payments.
Yes, some owners hesitate because of transaction fees.
But if you factor in the time wasted chasing overdue accounts, handling paperwork, and manually following up, those fees quickly prove to be a smart investment.
And one thing’s for sure: if your goal is to make your facility as autonomous as possible, credit card payments are by far the most automated payment method available.

Establish a clear late fee policy

From the moment the lease is signed, it's important to clearly explain that late payments will trigger additional fees.
With the Stortech management platform, our integrated electronic lease signing process reinforces this message — tenants immediately sense the seriousness and professionalism behind your policies.
It sets the tone: this business doesn’t mess around when it comes to late fees.

Create a waiting list for high-demand units

When a popular unit type is fully booked, offer visitors the option to join a waiting list.
That way, if a delinquent tenant occupies a high-demand space, you can simply choose not to renew the lease and quickly re-rent the unit — often at a higher rate — to a new customer already waiting.

Managing all these aspects — late fees, reminders, payments, unit tracking — can quickly get overwhelming if you're trying to juggle everything manually.
That's where automation becomes a real game-changer for serious operators.

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Modern platforms like Stortech were built exactly for this: to automate late fee handling, send out payment reminders, manage online payments, waiting lists, and more — all designed to simplify your day-to-day operations.

Conclusion

Reducing late payments isn’t just about improving your cashflow — it’s about protecting and growing the value of your facility.
Stortech also provides clear reporting and key performance indicators, giving you a better overview of your operations.
Facilities that leverage good management software often see their value increase in the eyes of investors, because they can clearly demonstrate the health and performance of their business.
The stronger your data, the more confidence — and value — your investment will inspire over time.

Stortech

Over the past year, we’ve spent time in the field, meeting experienced self-storage owners and operators across Quebec to build a platform that truly addresses the real needs of the industry.
Stortech is the newest self-storage management software on the market, and it's constantly evolving based on user feedback.
If you’d like to try it out — or simply share your thoughts and suggestions for improvements — we’d love to hear from you.

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