EXECUTIVE SUMMARY Absolute Storage Management (ASM) was founded in 2002 by three former executives of Storage USA, a public self storage REIT. ASM is now the largest private third party operator of self storage facilities in the southeast. We manage over 5,000,000 square feet in twelve states with offices in Memphis, Atlanta, Charlotte and Jackson. From the development of a new storage facility to management of an existing one, the ASM team will bring your project a wealth of experience and knowledge. Our firm focuses on generating superior results and maximizing the net operating income of each individual location. ASM holds the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management, the only self storage management company in the nation with this distinctive designation. Our purpose is simple: ASM was formed to provide self-storage owners with professional management and consulting services. Our mission is defined: Growing successful partnerships with our customers, team members and investors by delivering excellence in service. Our values are clear: Leadership, Integrity, Communication, Teamwork, Excellence, and Dedication In 2015, Inside Self Storage named ASM the largest privately owned third party management company for self storage in the United States. Inside Self Storage s 2015 study shows that in the storage industry, ASM ranks in the top 5 largest management companies of both private and public operators. ASM continually proves their dominant position in the industry by matching and outperforming nationally recognized REITs. Performance information is located at the end of this document.
MANAGEMENT SERVICES PROFESSIONAL PROPERTY MANAGEMENT Hiring, motivating, and training of property personnel Hands on supervision by the partners through on-site visits Established policies for running a self-storage property Significant training of new staff Periodic manager meetings and sales training seminars Mystery shopping (by telephone and in person) Industry leading web based software that streamlines operations MARKETING Aggressive Internet marketing programs that generate results Senior management aggressively reviewing all web options Development and implementation of a marketing plan including social media interactive profiles, referral programs, local community outreach, and third party aggregator websites Development of new, or enhancement of current marketing materials (brochures, thank you letters, etc.) Establishment of strategic alliances with apartment complexes, businesses and moving companies in a 3-mile radius Quarterly visits from our marketing managers to train on-site staff Tracking of results to determine ROI of each marketing initiative REVENUE MAXIMIZATION Periodic and aggressive customer rate increases Frequent street rate adjustments based on market demands and competitive rate structure in the market Ancillary income through truck rentals, tenants insurance, locks and packing supplies, etc. Analysis of unit conversions and expansions to maximize occupancy and revenue
HUMAN RESOURCES Employee payroll processing State and local sales tax processing FT employees eligible for ASM health insurance, dental, vision, LT disability, supplemental coverage All employees eligible for ASM retirement plan Administration of health insurance plan to ensure the retention of the best employees Administration of retirement plan Discount on worker s compensation insurance - due to ASM economies of scale Administration of worker s compensation program All property personnel are employees of ASM VENDORS AND MAINTENANCE Cost savings on credit card fees, bank fees, and postage. Discounted service contracts for insurance, inventory, office supplies, etc. - due to ASM economies of scale Maintenance contracts bid and negotiated (i.e. lawn, security, mechanical, etc.) Obtaining bids and awarding contracts for capital improvement projects Arrangement of retail displays for maximum effectiveness Access to ASM preferred vendors MANAGEMENT REPORTING Annual budgeting Online property management software viewable by owners 24/7 Extensive monthly financial and operational reports ACCOUNTING AND AUDIT CONTROLS Processing of accounts payable On-site audits performed on an unannounced basis Production of management reporting Reconciliation of monthly books Weekly audits of deposits and alterations
FORECLOSURES Foreclosure sign-off and completion of the foreclosure and auction process Provide collection services for unpaid accounts after the lien process has been completed ASM s State Lease is reviewed annually by the top industry attorneys and integrates with our software CONSULTING SERVICES EXISTING PROPERTIES Property improvement plans Property audits Market analysis Marketing solutions Property operation review NEW DEVELOPMENT Market feasibility studies Financial analysis New project design and mix analysis
ASM ASM PARTNERS CCIM, CPM MICHAEL HAUGH AUGH, CCIM, Prior to forming ASM, Michael Haugh spent eight years with a national self-storage company in several operations, finance and investment roles. Michael began as an Assistant Property Manager, and spent 3 years as a Property Manager and District Manager learning the business from the ground up. To compliment the operations experience, Michael worked with the CFO on joint ventures and equity financing. He also worked with the CEO investing in new development projects and acquiring existing properties. Michael holds a BA in Economics from the University of Connecticut and an MBA from the University of Memphis. He also is an affiliate real estate broker in Tennessee, and holds the Certified Commercial Investment Member (CCIM) and the Certified Property Manager (CPM) designations. Michael is co-founder and past president of the Tennessee Self Storage Association and a former board member of the Georgia Self Storage Association. In addition, Michael is a current member and past member of several committees of the national Self Storage Association (SSA). Michael is primarily responsible for new business development. MATT BAILEY AILEY, COO COO Prior to forming ASM, Matt accumulated five years of experience in the self-storage industry and has held a variety of positions, enabling him to amass extensive knowledge of the industry. Starting off as an assistant property manager with a national self-storage company, Matt rapidly advanced into management, holding a district manager position for two years, where he supervised 15 self-storage properties. Serving as a financial analyst for the next year, he was able to hone his analytical skills before moving on to a highly visible position as Manager of Contact Center Operations, where he supervised a staff of 30. Matt holds a BS in Management from Southern Illinois University, and an MBA from the University of Memphis. He is currently pursuing the CCIM designation. Matt is primarily responsible for property management, marketing and operations. SCOTT BEATTY EATTY, CFO CFO Prior to joining ASM, Scott spent eight years in financial operations and forecasting and budgeting, including four years as Operations Manager with a national self-storage company. His experiences include the development of single year property budgets along with long-range strategic and financial plans for billion dollar companies. During his time in self storage, Scott and his staff managed the budgeting and forecasting responsibilities for over 400 properties annually, along with the creation, generation and analysis of monthly property financial reports. Scott holds a BS in Finance from the University of Maryland and an MBA from Johns Hopkins University. Scott is primarily responsible for the accounting, HR, financial reporting, underwriting, revenue management and analysis functions.
CONTACT INFORMATION ABSOLUTE STORAGE MANAGEMENT ANAGEMENT, INC NC. 1136 North Germantown Pkwy Suite 101 #371 Cordova, TN 38016 901-737-7336 (Office) 866-521-1566 (Fax) www.absolutemgmt.com MICHAEL HAUGH 901-490-9656 Michael.haugh@absolutemgmt.com MATT BAILEY 901-421-3512 Matt.bailey@absolutemgmt.com SCOTT BEATTY 901-497-3949 Scott.beatty@absolutemgmt.com
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