Storage companies manage recurring transactions with payment integration
January 08, 2014

Integrated payment systems help enterprises that rely heavily on recurring transactions streamline otherwise complicated back office financial tasks. For example, self-storage companies often charge their customers a specific amount of money to be paid on a monthly basis. As business grows, smaller firms with a limited number of resources may run into trouble managing such a large volume of scheduled payments efficiently. Advanced technology can make it easier for managers and employees to keep better track of these processes.

Michael Bull, founder of Bull Realty, wrote in a recent article in the online publication National Real Estate Investor about how many property investors have taken a keen interest in the self-storage industry in recent months. These businesses have largely avoided many of the negative effects of the Great Recession, and financial experts anticipate such performance is a strong indication that similar firms will continue to perform strongly in the future.

"In the past, self-storage properties were often overlooked by investors, but that's not the case anymore," Bull explained. "While many other sectors of commercial real estate were hit hard by the recession, the self-storage industry weathered the storm with minimal damage. As vacancy rates fall and rents grow, investor demand for self-storage properties continues to rise."

According to Inside Self Storage, a new set of regulations from the Internal Revenue Service allows companies in the storage industry to write off many repairs and certain routine maintenance procedures in their year-end taxes. This measure further positions businesses to excel in the long run.

Managers at self-storage companies can further prepare for growth by investing in high-quality payment integration services that eliminate the difficulties of organizing a large number of recurring transactions on a daily basis.

Nexus: G-WEBCD5