This month, we're excited to announce a powerful set of new features in Hummingbird designed to give you deeper financial insights, automate key billing processes, and enhance your overall operational efficiency. Building on our commitment to providing you with the best tools to manage your self-storage business, our March release focuses on delivering robust reporting capabilities and streamlining invoicing workflows, empowering you to make data-driven decisions and save valuable time. What's new in March?

Powerful New Features to Streamline Your Self Storage Operations

Hummingbird: Property Management Software Updates

Introducing the Rent vs Rate Variance Report

You can now seamlessly compare the current rent of all active leases against their Set Rate, their Sell Rate, and the last rent from the Rent vs Rate Variance Report in Hummingbird. This information can help you track pricing variances and make data-driven rent adjustment decisions. For example, if the current rent of a lease is $100 and the Sell Rate is $120, it indicates that the tenant is paying $20 below the market price. You may consider a gradual rent increase to align with the market. Learn More

New Occupancy Statistics Summary Report

You can now view summarized information about your property’s occupancy statistics and financial metrics at a glance with the Occupancy Statistics Summary Report. The data in this report is organized by Space Groups and is vital in monitoring and optimizing the use of Spaces at your property, tracking occupancy performance over time, and making data-driven decisions to improve occupancy and revenue. Learn More

Introducing the Discounts & Promotions Variance Report

You can now easily analyze how discounts and promotions at your property impact the revenue and assess their effectiveness in driving tenant engagement with the Discounts and Promotions Variance report in Hummingbird. 

This report provides a list of promotions and discounts applied to an invoice based on its due date. It details the services the discounts/promotions are applied to, such as rent or merchandise, and calculates the dollar difference between standard pricing and the discounted amounts applied to invoices. Learn More

Multiple Access Control Systems

Enabling multiple access control systems across different property areas helps streamline administrative workflows and enhance facility coverage.  

• Support Flexible Access Configurations: Use multiple cloud-based access control systems to manage access for satellite properties.  
• Centralize Management: Simplify administrative tasks by managing multi-system access configurations in one place.  
• Assign Systems by Property Area: Property managers can designate specific access control systems for different areas.  
• Ensure Seamless Tenant Access: Provide tenants with a consistent access experience based on their designated entry permissions. Learn More

Generating Recurring Future Invoices for your Tenants

You can now generate recurring future invoices for tenants. This automates the billing process by eliminating the need to manually generate invoices for spaces occupied by a tenant every billing cycle. It also helps minimize payment delays and the need for follow-ups. Learn More

Enhanced Lease-Level Invoice Management

You can specify how many days before the due date an invoice should be created for a tenant, along with the billing day. Additionally, you can choose the preferred format (HTML or PDF) and decide whether to email a consolidated invoice or separate invoices for multiple spaces, based on the tenant’s preference. This ensures timely invoicing, reduces late payments and enhances tenant experience. Learn More

Delinquency Anchor Stage for Payment Reversals

You can now assign a Delinquency Anchor Stage to ensure better control over delinquency automation when a payment reversal occurs. Previously, if a tenant made a full payment to clear their delinquency but the payment was later reversed, the entire delinquency automation process would restart from the beginning. This resulted in unintended delinquency actions such as late fees or insurance cancellations from executing prematurely.

With this update, the Anchor Stage limits how far the automation progresses after a payment reversal, aligning delinquency with the unpaid invoice date rather than restarting from Day 0. The tenant’s delinquency stage will now reset to the designated anchor stage after a payment reversal, preventing duplicate delinquency actions and preventing miscommunication with your tenants. Learn More

Exempt Leases from Automated Delinquency

You can now exempt a lease from the automated delinquency process in Hummingbird. This provides you with the flexibility to apply exemptions for tenants at your discretion. Learn More

Tenant Inc.'s purpose-built suite of comprehensive technology solutions is designed with our customers' success at heart. We are committed to developing new innovative features and enhancements that make running your self storage business easier and more efficient – so you can SAVE TIME, and INCREASE REVENUE!