Director of Asset Management (Self-Storage Portfolio)

Job Description

Job Description

True Storage is a premier self-storage development firm with a footprint of 30 properties. We are seeking a hyper-focused, metrics-driven Asset Management individual to oversee and optimize a 30-store portfolio currently managed by a third-party management company. 

The primary objective is an aggressive, 24-month turnaround plan to bridge the gap between our current performance and industry-leading benchmarks. The ideal candidate will aggressively drive Net Operating Income (NOI) by pushing economic occupancy and rental rates to 90%+, while uncovering hidden value through ancillary revenue streams and real estate optimization. 

This position offers a lucrative base salary and an excellent bonus structure directly tied to driving increased value across our investment portfolio. 

Key Responsibilities 

Drive Revenue & Pricing Strategy 

• Optimize Revenue Management: Audit and re-engineer current dynamic pricing algorithms, street rates, and concession strategies across all 30 locations. 

• Manage Existing Tenant Increases: Implement systematic, data-backed rent increases for long-term tenants to maximize lifetime value without triggering excessive churn. 

• Control Promotions: Move the portfolio away from blanket discounts (e.g., "first month free") toward hyper-local, size-specific promotions. 

Third-Party Management Accountability 

• Audit Performance: Serve as the primary, high-accountability point of contact for the third-party operator, ensuring strict adherence to performance metrics. 

• Perform Field Audits: Conduct routine on-site facility inspections, financial audits, and mystery shopping to evaluate on-site sales conversion and operational execution. 

• Optimize Marketing Spend: Reallocate digital marketing budgets toward hyper-local, high-converting channels within each store's immediate 3-mile radius. 

Maximize Ancillary Revenue & Property Value 

• Monetize Physical Assets: Evaluate underutilized acreage, setbacks, or structural elements for alternative high-margin uses (e.g., RV/boat storage, cell towers, solar partnerships, truck rentals). 

• Boost Ancillary Programs: Maximize penetration rates for high-margin tenant insurance/protection plans and retail merchandise. 

• Optimize Operations: Review and tighten enforcement on fee structures, including administrative fees, late fees, and lien auction cost recovery. 

Requirements & Qualifications 

• Minimum 7–10 years of senior operational or asset management experience strictly within the self-storage industry. 

• Proven Track Record: Demonstrated history of managing large multi-state portfolios and executing successful operational turnarounds (moving occupancy/revenue from lagging to leading percentiles). 

• Third-party Management Familiarity: Deep understanding of third-party management systems, operational playbooks, and self-storage data analytics platforms. 

• Financial Acumen: Advanced mastery of underwriting, NOI optimization, Cap Rate impacts on valuation, and financial reporting. 

• Travel: Willingness to travel extensively to portfolio locations for field audits and operational reviews. 

Compensation & Benefits 

We offer a competitive compensation package along with excellent benefits, including: 

• Competitive salary 

• Health insurance 

• Dental insurance 

• Short-Term and Long-Term Disability Insurance 

• Life insurance 

• Paid vacation and time off 

• 401(k) plan with employer match 

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