Which is the best facility management software (FMS) for RV Storage facilities in 2024? StoreEdge by Storable or Tenant Inc (aka Hummingbird). Below is a comparison of these two top performing FMS products, based on my own experience.

Facility management is the backbone of organizational success, and the right facility management software for an RV storage facility can be a game-changer. In this comprehensive comparison, we will dive deep into the features of two leading solutions, Storable and Tenant Inc, to help you make an informed decision in the realm of facility management software.

Over the last several months, I had the opportunity to research, evaluate, and work with both facility management software solutions.  However, my use case was for RV storage facility management rather than for self-storage facility management.  In addition, my use case was for a new facility coming to market.  This is an important clarification, because “coming soon” features were important to me. Finally, my business model required the RV storage facility to be fully automated. See also How to Develop or Upgrade for Self-Service RV Storage | Automation

Do RV Storage Facilities Have Different FMS Needs?

Before addressing which facility management software is a better choice for RV Storage facilities it is important to address key differences between traditional self-storage facilities and RV storage facilities. In short, RV storage facilities require less customer interaction than traditional self-storage facilities. This may in most cases require a simpler facility management approach. In this case a simple FMS product can be better.

As to why RV storage facilities may require less customer interaction, consider that RV and boat owners tend to remain in lease for longer durations than self-storage customers. RV and boat owners simply want a secure and convenient place to secure their toys. Self-storage owners on the other hand may be looking to rent space, buy boxes and packaging materials, renting a trailer, etc.

When selecting a FMS it is important to consider a software that tracks vehicle information. Recording information on the vehicle such as vehicle type, model, vin number, etc. is necessary for managing the facility and for issuance of liens. Not all FMS are able to track information on what is being stored in this manner.

Why Storable vs Tenant Inc?

Prior to choosing a facility management software I researched several products, including StorEDGE (from Storable), Tenant Inc, SiteLink (from Storable) 6Storage, Storage Commander, WebSelfStorage, Easy Storage Solutions, and QuickStor.

There were certain things I knew I wanted, in the order of priority shown below:

1. Web-Based Software – I wanted to be able to manage my facility from anywhere in the world from any computing device, even a smart phone.  All products were web-based, except for SiteLink.
2. Smartphone Gate Access – I wanted customers to be able to open the gate to the facility using a smartphone.  After much research I concluded that I wanted a Bluetooth based app.  This led me to selecting keypads from SpiderDoor.  This narrowed the list as companies such as 6Storage weren’t fully integrated with SpiderDoor at the time. 
3. 24/7 Self Enrollment – I wanted customers to be able to rent a unit, sign documents, make payment and access the facility through an integrated website.
4. Dynamic Pricing – See “What is Dynamic Pricing? I wanted pricing to be adjusted automatically according to occupancy.  This eliminated Easy Storage Solutions from my list.
5. QuickBooks Integration – I already use QuickBooks for another business and wanted to keep things simple, to the extent possible. 
6. Interactive Map – I wanted customers to see an interactive map of the facility where they could move the cursor over available units to see unit pricing, size, availability, features, etc.  Unfortunately neither one of the products I researched offered this feature.

After much consideration there were two products that met my requirements.  These were StoreEdge and Tenant Inc.  Because StoreEdge is the market leader I signed up with them and began my FMS journey.  However, during the onboarding process I learned that StorEdge had certain limitations with the product inventory management.  This led me to look into Tenant Inc and eventually ended up making the switch. 

Space Inventory Management

In my case I was dealing with a brand-new facility.  For this reason I wanted a website that allowed customers to make reservations in advance, much like you do when you make a reservation through Airbnb.  Things were further complicated by the fact that the actual opening date of the facility was a moving target.  Trying to manage this situation is how I learned that StorEdge didn’t have an easy solution for managing space inventory over time.  Tenant Inc did. 

The screenshot below shows Tenant Inc’s user interface for making reservations in advance.  In this case, reservations can be made 14 days in advance, but the software settings can be changed to any number of days.

Onboarding StorEdge Vs Tenant Inc

My experience with StoreEdge left much to be desired.  When Onboarding with Storable I dealt with too many departments and individuals.  There were various instances in which I didn’t know who was helping me with a given question or request.  And in more than one case my questions required multiple follow ups to get a response. 

Another frustration with the onboarding process with Storable is that I had to provide the same information (i.e facility name, facility address, contact information, etc) to multiple departments and individuals. 

When onboarding with Tenant Inc the process was much easier as I dealt with one single individual.  This person helped me with setting everything from publishing the website to selecting the right settings for the facility management software.

The Market Leader Vs the Innovative Newcomer

Originally, I was convinced that StorEdge was the way to go because StorEdge is the undisputable market leader.  As I became familiar with this product I began to wonder if Storable has become too big, a bit dated and perhaps too comfortable being the market leader. 

With Tenant Inc, I had the sense that this was a hungrier, nimbler and a more innovative team.  This comes with some challenges, but most of these are relatively minor things. 

• SpiderDoor Integration –  SpiderDoor isn’t as integrated with Tenant Inc as it is with StoreEdge.  For example, with StoreEdge customers can use the same app they use to open the gate to pay rent.  That’s not yet available with Tenant Inc.  However, this isn’t a necessity for me, because Tenant Inc handles rent payments to my full satisfaction.
• Telephone Integration – StorEdge has full telephone integration.  When customers call, leave a message or text, all the call information is automatically logged into the FMS.  Tenant Inc doesn’t have the same level of phone integration.  I use DialPad to route calls and often I have to manually enter contact information received from DialPad into Hummingbird (Tenant Inc’s actual property management software)

FMS Cost Comparison

When I began the FMS selection process I was prepared to pay a premium for the best product. After all, the right FMS would be key in fully automating operations and would result in significant operational savings. Nevertheless, I wanted to quantify what that premium would be.

When it came to StoreEdge it became evident that I needed to account for things like a one time setup fee of $799, and monthly fees of $388 for the facility management software, a website, and integrated access control.

Tenant Inc on the other hand didn’t have a one time setup fee and the only monthly fee of $99 included the facility management software. And there were no additional fees for the website or for access control integration

In addition to these costs I needed to compare merchant fees. StoreEdge quoted a transaction fee of $0.25 per transaction and a transaction rate of 2.19%. In addition, StoreEDGE had a monthly merchant fee of $19.95. Tenant Inc quoted a transaction fee of $0.15 per transaction and a rate of 2.95%.

To make an apples to apples comparison I annualized costs assuming a number of transactions per year and a given revenue amount per year. The all in annualized cost for StoreEDGE came to a total of $10,390 vs a total of $8,165 for Tenant Inc.

The premium for going with the industry leader, StoreEDGE, was $2,225. That’s a premium I would have been okay paying for, except that at this point I was convinced that Tenant Inc was the better FSM for me.

Conclusion:

In the dynamic world of facility management software, choosing between Tenant Inc and StoreEdge hinges on your unique needs and industry focus. Whether you operate diverse properties or specialize in RV storage, understanding the intricacies of these solutions is crucial for informed decision-making. Both are great FMS products.  For my particular needs, Tenant Inc was the better choice.