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Total Units: 768 → 768 (no change)Unit Occupancy %: 51% → 50% (↓ 1%)Occupied Units: 388 → 384 (↓ 4 units)Vacant Units: 378 → 379 (↑ 1 unit)Unrentable Units: 2 → 5 (↑ 3 units)
Occupied SF: 46,905 → 46,580 (↓ 325 SF)Total SF: 99,145 → 99,145 (no change)SF Occupancy %: 47.0% → 47.0% (slightly down to 46.98%)
Move-Ins: 32 → 24 (↓ 8)Move-Outs: 29 → 25 (↓ 4)Net Rentals: +3 → –1
Gross Potential Rent: 119,383 → 119,383 (no change)Actual Occupied Rent: $44,086 → $47,686 (↑ $3,600)Revenue Collected: $48,346 → $48,254 (slight ↓ $92)
Monthly: 0.94 → 1.024Annual: 11.28 → 12.29Monthly: 1.03 → 1.036Annual: 12.37 → 12.43
Overall Protection: 59.3% → 54.8% (↓)AR > 30 Days: 3.09% → 3.13% (↑ minimal)Avg Google Rating: 4.9 → 4.9 (steady)
Occupancy dipped slightly in both units and square footage.Moves slowed down in November, resulting in a small net loss of 1 rental.Actual occupied rent jumped meaningfully from October → November.A/R over 30 days increased slightly and should be monitored.The rent-increase activity in this period is the 89 increases scheduled for December 1st.
251202 Fargo Meeting Notes
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Lower rates on larger units and use deeper discounts
Thu, Aug 7
Increase rates on larger units and reduce discounts
Thu, Aug 7
calls to continue monthly through Q4 and going quarterly Q1 2026
Thu, Aug 7
Adjust rates on upper level units to follow up
@Andrew Aue
Tue, Oct 7
Argus close out will get with accounting
@Ryan Dayhoff
Tue, Oct 7
Follow up on automatic door claim/police report
@Meg Graham
Tue, Oct 7
Banners, yard signs and grass root marketing
@Meg Graham
Tue, Oct 7
LOS analysis
@Ryan Dayhoff
Tue, Nov 4
Open Sun and Mon, update marketing
@Meg Graham
Tue, Nov 4
Online email flyers, physical flyer designs, counter cards
Tue, Jan 6
Tue, Jan 6
get 2nd person hired, open 7 days per week
@Dave Keenum
Wed, Jan 14
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📊 Monthly Performance Update (October → November)
Source: EOM Report Fargo.xlsx
1. Unit & SF Occupancy
2. Area Metrics
3. Move Activity
4. Rental Revenue Metrics
5. Rates per SF
Actual Rates:
Collected Revenue PSF:
6. Other Metrics
📈 Rent Increase Summary (Oct, Nov, Dec)
🔸 December Increases (effective 12/1/2025)
87 rent increases
(These are visible in the 11/30 file with Next Rate Start = 2025-12-01.)
✅ Summary
October to November
During the month of November, Premiere Storage Fargo experienced a slight softening in occupancy and rental activity while continuing to show strong growth in actual realized rent. Total occupancy declined from 51% in October to 50% in November, reflecting a net decrease of four occupied units. Square-foot occupancy followed a similar trend, with occupied square footage decreasing by 325 square feet, though total rentable square footage remained unchanged.
Move activity slowed compared to prior months. Move-ins decreased from 32 in October to 24 in November, while move-outs decreased from 29 to 25, resulting in a net rental change of –1 for the month. While this is a slight pullback, the lower churn may help stabilize occupancy in the coming months.
Revenue performance showed a strong upward trend. Actual occupied rent increased from $44,086 in October to $47,686 in November, marking a significant gain driven by rate integrity and ongoing adjustments. Revenue collected remained stable at approximately $48,250. Rate performance per square foot also strengthened, with actual monthly and annualized PSF rates both increasing month over month.
Two areas warrant monitoring. Overall protection plan penetration decreased from 59.3% to 54.8%, creating an opportunity for focused improvement in the coming month. In addition, AR over 30 days rose from 3.09% to 8.03%, primarily driven by increased delinquent balances. Continued follow-up on past-due accounts will be important heading into year-end.
Rate-increase activity remained light through October and November. The rent-roll files show no rent increases taking effect in either October or November, while 89 scheduled increases are set to take effect December 1st. This batch of December adjustments is expected to support continued revenue growth moving into the new year.
Overall, while occupancy softened slightly in November, the facility continued to demonstrate solid revenue performance. With December rate increases scheduled and stable move activity, Fargo remains well-positioned to strengthen its occupancy and financial results as we close out the year.
DM Notes
Currently Shelly is there full time and going through training still. We plan on having it fully staffed ASAP and opening up 7 days a week as soon as we are fully staffed.
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