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Month-to-Date (Feb 1–4, 2026): 2 new leads (from Website and Phone), both converted to rentals (100% conversion).Fiscal YTD (Jan 1–Feb 4, 2026): 31 total leads (sources: Website 16, Walk-in 9, Phone 4, others 2), with 31 leases signed (100% conversion).
Jul 2025: ~$96,440Aug/Sep 2025: ~$126,088 (peak)Oct/Nov 2025: ~$119,383Dec 2025: ~$93,551 (sharp drop)Jan 2026: ~$115,376 (rise again)
Average Occupancy: ~50% of units (383 occupied of 768 in early Feb).Revenue (MTD): ~$48.3K collected by Feb 4 (Feb MTD).Move-ins vs Move-outs: In January, 21 new move-ins vs 14 move-outs (net +7); in preceding months net gains varied (e.g. +17 in Jul, –13 in Sep). Recent months show stabilization.Net Rental Change: Ranged from +17 units in July to –13 in Sept (see EOM report), with January at +7. This indicates seasonal churn.
Strong performers: Small-to-mid units. For example, 5×5 CC (25 sqft at ~$82–89) and 10×5 CC (50 sqft at ~$129–135) are affordable and move quickly. The common 10×10 CC (100 sqft) and 10×12 CC (120 sqft) fill core demand. These likely have the highest occupancy.Underperformers: Largest units. The 10×15 CC (150 sqft) and 10×20 CC (200 sqft) carry premium rents (~$199+). Demand for very large units is lower, so these probably sit vacant more often.
260205 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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Occupancy: 50%, showing stable but gradual growth.
Revenue: Rent collected rose to about $49.6K in January—a month-over-month increase.
Leads & Conversions: 31 leads since Jan 1, with a perfect 100% conversion to leases.
Gross Potential Rent (GPR): Rebounded in January to ~$115K after dipping in December.
Move-ins vs Move-outs: January had a net gain of 7 units (21 move-ins, 14 move-outs).
Unit Performance: Smaller units (5×5, 10×5, 10×10) are likely in higher demand; larger ones (10×15, 10×20) may need focused leasing attention.
86% Auto Pay
Premiere Fargo – January/February 2026 Performance Analysis
Occupancy Trends
The Premiere Fargo facility has 768 total units, with occupancy hovering around 50% in recent months. After opening in mid-2025, occupancy peaked at about 52% in July 2025 (≈400 occupied of 768) then dipped to 49% by December 2025 before rebounding slightly to 50% in January 2026. In practical terms, roughly 375–388 units were occupied each month (with 1 complimentary unit) out of 768, leaving 370–380 units vacant. This flat, mid‐50’s trend suggests stable but modest lease-up – occupancy has not exceeded ~52%, indicating room for growth as the property matures.
Revenue Month-over-Month
Monthly revenue (rent collected) has grown steadily since opening. In July 2025, rent collected was about $33.0K, rising each month to $49.6K in January 2026 (see chart). Revenue held around $48–49K for Oct–Dec, then ticked higher in January. In percentage terms, January’s revenue was roughly 5% above December’s. This sustained increase (over 50% higher than July’s level) reflects rising occupancy and/or rental rates. Notably, year-over-year comparisons aren’t available (first full year), but the month-over-month trend is strongly upward.
Lead Volume and Conversion Rates
These figures (from the Feb 4 management summary) indicate a high conversion rate; every lead since Jan was leased. The breakdown shows most interest coming online (website) and in-person (walk-ins). The small lead count in early Feb (2 leads) is typical for a few days of winter, but the 31 leads (Jan+Feb) set a foundation for continued lease-ups.
Gross Potential Rent (GPR) Changes
Gross Potential Rent (GPR, the maximum monthly rent if 100% occupied) has fluctuated significantly. Key values by month were:
After opening, GPR surged to $126K in Aug/Sep (likely reflecting full activation of new units), then dipped to ~$93.6K in Dec before rebounding to $115.4K in Jan. This Jan value is 23% higher than December’s. The swings suggest rate adjustments or reclassification of units (e.g. turning unrentable units back online) driving potential income. In other words, the maximum rent roll rose in January after a holiday-season lull, aligning with higher collected rent that month.
Key Performance Indicators (KPIs)
Together, these KPIs show gradual lease-up: occupancy and rent are rising, while move-outs have recently slowed relative to move-ins.
Performance by Unit Size
Unit sizes range from 5×5 up to 10×20 (all climate-controlled). Based on the standard rate sheet, smaller units command lower rents (e.g. 5×5 at ~$82–89/month, 10×5 at ~$129–135) and larger units much higher (10×15 at ~$199–229, 10×20 at ~$179–189). Typically:
Exact occupancy by size isn’t in the reports, but this breakdown suggests smaller units (25–100 sqft) are the backbone of performance, while biggest units see weaker fill rates at ~50% overall occupancy.
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