Webinar: Insurance, Liens and the Law.
Tips to simplify risk management in self-storage operations.
Listen to Ai Lean CEO Luke Shardlow, legal expert Carlos Kaslow, and other industry professionals as they discuss the challenges of lien compliance and explore how insurance and technology can simplify risk management in this Self-Storage Unlocked webinar hosted by the Self Storage Business Owners Alliance (SBOA).
Pitfall 1: Rental Agreements
This document is crucial as it outlines the month-to-month relationship between landlords and tenants. Self-storage operators face a unique situation because they store a substantial amount of other people's property on their premises. Therefore, it is essential for lease agreements to clearly define the maximum value of the property stored. Most states have specific requirements for rental agreements that storage operators must follow to maintain a valid lien. While Ai Lean allows self-storage operators to customize their lease agreements, we also ensure that these customizations comply with local laws across different jurisdictions, ensuring that liens remain consistently compliant.
Luke shardlow, ceo | ai lean
“We help self-storage operators achieve consistency and accuracy with the laws, enabling managers to focus on activities that add customer value and improve NOI. “
Pitfall 2: Inconsistency
The lien process consists of a sequence of time-sensitive events—each notice must be sent at a specific time. While there is some flexibility in setting these timeframes, it is important for operators to maintain consistency in managing these events across all their facilities. Implementing an automated system for this process can significantly reduce the risk of failure in the lien process.
Pitfall 3: Human Error
Mistakes often happen in the early stages of a process, like sending letters incorrectly or missing data in leases. Manual lien notice errors can delay the lien process and push back re-rental timelines. Automating the process eliminates these mistakes and saves labor time. Software for lien compliance also eases pressure on facility managers, ensuring consistent decision-making for tenants according to established procedures.
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