Investment

Essential Things to Know If you are Considering Renting a Self Storage Unit

Whether you are moving, remodeling your house or downsizing, you will want to consider renting self storage units. Self-storage provides you the benefit of being sure your belongings are safe in a facility. But there are other things you might want to know about self storage before you consider it.

Rental Fees

The rental fees vary depending upon the size, special requirements and duration. Self storage facilities can be rented weekly, monthly or yearly. As you sign a rental contract, you may have to give a deposit that must be refunded if you remove your belongings from storage. However, you need to understand the specific requirements to get a full refund.

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Also be aware of the procedure to terminate your rental contract. The majority of self-storage facilities will require advance notice when you wish to end your contract. Companies will reimburse you for any unused rental time while others may keep your prepaid rent. Additionally you need to have an understanding of when and how the facility can terminate the contract. Late payment or non-payment is one of the reasons a rental company will evict you.

Special Services

A lot of storage facilities offer services other than simple unit rental. It is likely that companies provide equipment rental, hired labor and truck use which may add to the rental service’s cost. When your self storage company provides such add-ons, clarify the fees and restrictions. Sometimes bundled services will be more expensive than when you bought separately.

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Self Storage Contracts

In order to avoid surprises make sure you carefully read the self storage contract. The contract should outline all rules and fees about your rental unit. It must itemize the unit’s cost, hired labor, equipment and truck rental, a lock and insurance. In addition, it must explain security, insurance policies and billing.

 Accessing Your Unit

  • Access hours. When selecting a storage company, think about the access offered to tenants. Know the hours of operation and gate hours of the facility. Gate hours provide renters extended exit opportunities. A number of facilities allow you to set an after-hours appointment with one of their employees; however, a fee might be charged for this service.
  • Location of your storage unit. Your unit’s location within the facility also impacts access. When your unit is on the second floor, ensure that the facility has elevators big enough for your possessions. When you have to store oversized item consider renting a drive up unit.

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  • Storage unit visitors.  In case somebody other than you must access your storage unit, make sure you ask the rental company about their visitor policy. Some rental companies should provide permission for visitors while others allow anybody who has your access pass or key to enter. When a guest is accessing your storage unit, you need to notify the storage operator at least one day ahead. Make sure you warn your visitor of sign-in procedures and give him proper documentation. Also do not forget to ask the storage facility if there is a fee for special access.
November 2017
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