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2020 Annual Report

Innovating for a better tomorrow


“Our platform continues to out-pace the competition with thoughtful, data-driven innovation. The marketplace is competitive, and we are constantly refining our approach to continue to drive high-quality traffic to our stores and allowing our proprietary pricing and revenue management systems to optimize conversions and maximize revenue.”

We have over 1.2 million customers, and they come to us through a number of channels. Whether they find Extra Space through Google ads, YouTube videos, social media, or just driving by our buildings and banners, we strive to present a consistent brand offering. And if they transact online, over the phone or in-person, we provide a consistent customer experience. Our focus on finding customers in any of the channels where they seek services allows us to execute approximately 70,000 new leases a month. Pricing is then driven by our state-of-the-art revenue management system to maximize returns. Plus, our platform gains data points at every interaction, giving us a deep set of data and a comprehensive understanding of customer behavior. We use that data to continually innovate and improve.

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  • 22% of rentals
    coming through our new online Rapid Rental leasing tool

  • Over 1 billion
    customer data points analyzed

  • Over 10 million
    website visitors

  • Over 1 million calls
    fielded by call center agents


The landscape of marketing changes rapidly in the digital era, and we are equipped to stay ahead of it. We prioritize having the sector’s deepest technology and marketing teams and we partner with industry leading external resources to set up an agile infrastructure to adapt and benefit from the constant change. We have consistently been one of the most innovative players in the digital marketing game, and currently serve as a member of Google’s Advisory Board. Through sophisticated digital marketing strategies, we identify high-quality prospects and guide them to lease with us. Our expertise in search engine optimization, pay-per-click advertising, social media marketing and brand management all help drive customers to our website, our call center, and ultimately to our properties.

Customer Experience

Once a customer starts investigating Extra Space as a storage solution, they’re presented with a consistent and frictionless customer experience that allows them to quickly resolve their storage need, in the format that is best for them. With the change in operating environment due to COVID-19, we quickly modified our leasing process and launched two new ways for customers to finish their leases – contact-free. Customers can now lease over the phone, or through in an online “Rapid Rental” process. The Rapid Rental process is a big technology feat, processing all the lease paperwork efficiently, communicating crucial information to customers effectively, while also utilizing the highest information security. Through this process, customers can get a gate code, be guided by a digital map to their unit, and begin storing in rapid time, at any time of day. Our goal is to meet customers where they want to meet us, giving them more options to have the customer experience that best suits their needs.


Our pricing is driven by our proprietary revenue management system, which has been refined through years of testing and optimization. Occupancy, rates, discounts and advertising are all tools we use to maximize revenue for each of our 1.4 million units. The use of these tools is driven by our revenue management algorithms. We are currently in our third generation of our revenue management system that was created and is constantly being improved by our in-house data science and pricing teams, employing a dozen of the brightest minds in the field. It continues to be nimble and adaptive, and performed extraordinarily well, even in the changing landscape caused by COVID-19.


Our marketing team is data-driven and focused on digital innovation as it uses a variety of avenues to efficiently drive customers towards the Extra Space Storage Brand.

Customer Experience

In-store, through our call center, or online, leasing with Extra Space is a frictionless process that allows customers to interact with Extra Space how they choose.


Our data scientists and revenue managers are focused on innovation and testing as they work to capture more rentals and maximize revenue.