Committing to a Storage Unit: 3 Questions to Ask When Signing a Lease for a Storage Unit

7 June 2019
 Categories: , Blog

One of the great features of a storage unit is that they serve many purposes. You may only need to store items for a month or two when you are moving to a new residence, or you may need to make space in your current house, and need to store your belongings for the foreseeable future. Regardless of what your situation is, there are some key questions you need to ask a storage facility before you commit to signing a lease.

Here are three important time-related questions to ask as you look for the right storage unit for you. 

How Long Is the Lease?

One of the first questions that you should ask when you are looking at a storage facility to rent with is how long the leases are that they offer. Some storage facilities offer month-to-month leases, while others offer more long term solutions, such as six months or year-long leases. If you only need a unit for a brief period of time, you want to make sure you do not lock yourself into a long term lease. Always ask this question and ensure the contract you sign lists the correct lease period. 

How Long Is the Rate Guaranteed? 

Another important question to ask when you are looking to lease out a storage unit is how long the rate you are quoted for is guaranteed. Many storage facilities offer a low rate, or introductory rate, for new customers. However, that rate may only be good for a month or two, and then your rate may increase. Always ask how long the rate is good for so you do not receive an unexpected bill for your storage unit. 

How Much Can Rent Increase on My Storage Unit?

The final question to ask before you commit to a storage facility is how much can rent increase on your storage unit. You want to ensure you know how much your storage facility rent may increase when the introductory rate is over and/or when your lease terms are up. Some companies may have a limit, such as ten percent, for rental increases, while others may not. If a company does not have a rental increase ceiling, ask how much their rent has increased over the past five years to get a feel for how much they typically charge for rental increases. 

When you are looking for storage, contact facilities such as Stadium Storage to learn more about lease terms. Taking the time to ask each of these questions will help you commit to the right storage facility for your needs and your budget.