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Move-ins: 24Move-outs: 22Net Rentals: +2Greenville: –1 netTaylors: +3 net
Total Leads: 50 (18 Greenville, 32 Taylors)Conversion Rate: 48% overallTop Sources:Call Center: 50%Storagely (online): 38%Drive-by and Website: 10%
Greenville: 72.3%Taylors: 86.4%Total Portfolio: 76.8%YoY occupancy up slightly from Oct 2024 (+0.7 pts)
Economic occupancy exceeded 100% due to effective rate increases
Top reason: No longer needed storage (10)6 units vacated via auction (delinquency)Only 1 cited “price too high”
112 customers received rent increases+$1,700/month added across portfolioAverage increase: ~10%
Call Center: 25 leads (50% of total) originated via calls to the sales center.Online Aggregator (Storagely): 19 leads (38%) came from Storagely online listings (including those that reached out via call center).Drive-By: 4 walk-in leads (8%) were attributed to drive-by traffic (all at the Taylors site).Sparefoot: 1 lead (2%) came through the Sparefoot online platform.Website (Online Rental Portal): 1 lead (2%) originated from the storEDGE online rental center.
Greenville: 224 of 310 units occupied (72.3% unit occupancy).Taylors: 127 of 147 units occupied (86.4% unit occupancy).Overall GLS Portfolio: 76.8% unit occupancy (351 of 457 total units).
Greenville: Collected ~$24.7K in October 2025, up ~4% from ~$23.8K in October 2024. Its gross potential for the month (if 100% occupied at standard rates) was about $19.35K. Notably, actual revenue exceeded the standard-rate potential (indicative of rate increases beyond standard rates for existing tenants).Taylors: Collected ~$27.8K in October 2025, a ~13% increase over the ~$24.6K in October 2024. Gross potential revenue was ~$22.03K, so actual rent collected was also above the base potential.
Customers with Rate Increases: 112 total existing tenants had rent rate increases implemented during October 2025 (approximately 84 at Greenville and 28 at Taylors). This excludes new move-ins who simply started at market rates. (In total, 137 rent changes were recorded including new rentals.)Total Added Monthly Rent: These October increases are generating roughly +$1,700 in combined monthly rent across the portfolio (approximate aggregate increase).Average Increase %: The average rent bump was about 10% per affected customer. Many longstanding tenants saw mid-single-digit to 10% increases, while some newer tenants received larger first-time adjustments (in some cases 15%+ if they started on an introductory rate).
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GLS October 2025 YoY
GLS Portfolio Summary – October 2025
📦 Rental Activity
📞 Lead Activity
🏢 Occupancy (as of Oct 31, 2025)
💰 Revenue & Gross Potential
Table 10
Column 1
Oct 2025 Actual
Oct 2024 Actual
YoY Change
Gross Potential (2025)
Greenville
$24,687
$23,770
3.9%
$19,350
Taylors
$27,756
$24,625
12.7%
$22,029
Total GLS
$52,443
$48,395
8.4%
$41,379
There are no rows in this table
📤 Move-Out Reasons
📈 Rate Increases
Storage Depot GLS Portfolio – October 2025 Performance Update
Move Activity (October 2025)
Total move-ins and move-outs for each GLS facility in October 2025 are summarized below, along with net rentals (move-ins minus move-outs):
Table 7
Facility
Move-Ins
Move-Outs
Net Rentals
Greenville (GLS)
7
8
–1
Taylors (GLS)
17
14
+3
GLS Portfolio Total
24
22
+2
There are no rows in this table
Greenville saw 7 new move-ins and 8 move-outs, resulting in a net loss of 1 unit. Taylors had 17 move-ins against 14 move-outs, for a net gain of 3 units. Overall, the GLS portfolio gained 2 net rentals in October.
Lead Activity (October 2025)
Across the GLS portfolio, there were 50 total leads (inquiries) during October 2025. The overall conversion rate (move-ins divided by leads) was about 48%. By facility: Greenville converted ~39% of its leads (7 of 18) and Taylors converted ~53% (17 of 32).
Lead Sources: The majority of inquiries came through phone calls and online listings. Key lead sources included:
Taylors captured all of the drive-by and website leads (reflecting its local visibility), whereas Greenville’s leads were exclusively via the call center or online sources.
Occupancy (End of October 2025)
Unit occupancy at month-end remained healthy for the GLS portfolio:
Year-over-year, Greenville’s occupancy was essentially flat (around 72% in Oct 2024 and 2025), while Taylors improved from ~84.4% to 86.4%. The combined portfolio occupancy rose slightly (by roughly 0.7 percentage points YoY).
Revenue Performance (October 2025 vs October 2024)
Actual rental revenue in October 2025 was up year-over-year for both facilities, despite lower posted rate potentials. The table below shows actual revenue vs. gross potential (at 100% occupancy at standard rates) for October 2025, and a comparison to October 2024:
Table 8
Facility
Oct 2024 Actual Revenue
Oct 2025 Actual Revenue
YoY Change
Oct 2025 Gross Potential
Greenville
$23,770 (actual)
$24,687 (actual)
3.9%
$19,350
Taylors
$24,625 (actual)
$27,756 (actual)
12.7%
$22,029
GLS Total
$48,395
$52,443
8.4%
$41,379
There are no rows in this table
Overall, the GLS portfolio’s October 2025 revenue of ~$52.4K was about 8% higher than the ~$48.4K achieved in October 2024. Both facilities are yielding economic occupancy rates above 100% (actual revenue divided by standard potential), thanks to aggressive rate management.
Move-Out Reasons (October 2025)
A total of 22 tenants moved out of GLS facilities in October. The reasons recorded for move-outs were tracked, with the counts by facility shown below:
Table 9
Move-Out Reason
Greenville
Taylors
Total
Don't need storage anymore
3
7
10
Auction (delinquency)
4
2
6
Vacated without notice
1
1
2
Moving (relocation)
0
1
1
Price is too high
0
1
1
There are no rows in this table
The most common move-out reason was simply not needing storage anymore (10 tenants), followed by delinquency auctions (6 tenants). A couple of tenants left without giving notice, and only one cited high price as the reason for vacating. These trends were fairly consistent across the two facilities, with Taylors having a higher count of “not needed” move-outs.
Rate Increase Summary (October 2025)
October saw a significant number of in-place rent increases for existing customers in the GLS portfolio:
Overall, aggressive revenue management is evident: by raising rates on 112 existing tenants in one month, both facilities have driven actual revenues above standard rental projections. This strategy contributed to the strong year-over-year revenue growth in October 2025, while occupancy remained relatively steady.
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