Renting a self-storage unit isn’t as simple as choosing the most convenient location and locking your possessions inside a garage-type storage space. Smart consumers always compare prices and features before making large investments in goods or services. With new self-storage facilities popping up every day, most consumers have the choice of several within their local area.
The monthly rental fees may seem reasonable enough, but there are hidden costs that you must consider before choosing the best storage unit for your needs. Self-storage can be costly, but you can save money on your self-storage rental fees with these tips:
Don’t get a larger unit than you need. Units are priced by the square foot, and there’s no point in paying for empty space. Well-trained self-storage facility staff members will be able to help you decide how much storage space you need and give you tips on how to pack it most efficiently. Choose another facility if the staff doesn’t seem to know their business.
Long-tem discounts. Ask about long-term storage discounts if you plan to occupy your unit for more than six months. The self-storage contract may require that the full amount is paid up front, or that your payment is secured with a debit or credit card.
Insurance. Your homeowners’ policy may cover your belongings kept at a self-storage unit facility, but probably won’t insure them if they’re stored in a container made from an old semi trailer. Self-storage units usually offer insurance based on square footage of the individual unit, and you may find yourself over- or under-insured. Consider your insurance options before you commit.
Automatic payment arrangements. Late fees are incurred when your rent is past due. Avoid these extra charges by setting up an automatic payment arrangement by debit or credit card so you know your rent is paid on time.
Transportation. The costs of moving your belongings in and out of the unit is part of your self-storage expense. Facilities may have trucks that renters are allowed to use for the cost of gas and insurance. Moving your belongings yourself is the cheapest way–although it may cost you a keg and a pizza to get some friends to help. Pre-packing your household goods for professional movers will keep expenses down.
Do you need self-storage at all? Self-storage facilities can be a convenience for families or college students who are between moves, homeowners who are remodeling and need temporary storage, and small business owners who need extra storage space for office supplies and tools of the trade.
Long-term storage of overflow household junk is not cost effective at all; you may end up paying rental fees higher than the value of your possessions. Give away, sell, loan or donate whatever you can bear to part with, and see if you can store the rest in mom’s attic or a friend’s spare bedroom.
In my humble opinion as an experienced buyer of abandoned self-storage units, most units that are foreclosed upon are full of stuff that would have been better of donated to the thrift store. The renter just gets tired of paying to store possessions he doesn’t know what else to do with. These units are declared abandoned and sold at public auction, and earnings are applied to the past due rent. The evicted renter is still liable for the balance, and may incur court costs if he/she doesn’t pay up. Prevent your storage unit from foreclosure by always paying your bill on time!
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