The True Cost of Renting a Storage Unit

by AmyM 20. May 2013 05:56

Let’s face it: We tend to hold onto a lot of “stuff.” And when our homes are overrun with our stuff, we look for other storage options. Approximately 10.8 million households, or 1 in 10, currently rent a self-storage unit, which is 65 percent more people than just 15 years ago. The total amount of rentable storage space in the U.S. is now 2.3 billion square feet, which is about 78 square miles, or an area that is three times larger than Manhattan.

Even with the average home size increasing, the need for storage continues to grow. The average lease for residential self-storage is 11 to 12.5 months, and commercial storage needs are even greater. The average commercial self-storage lease ranges 23 to 24 months, giving storage companies ample opportunity to reap financial benefit from your crowded space.

 While rental prices for storage units range depending on location and facility, spending a year or two paying storage fees isn’t the best option financially when you can rent to own your own space, or purchase a custom storage unit outright. In addition to the fees you pay to rent your storage unit, you’ll need to factor in time and money spent driving to and from the storage facility when you need to get your items out.

Instead, consider purchasing a portable storage building or renting to own. Not only is this a better deal financially, but you will also always have immediate access to whatever items you keep in storage. Plus, even if you move homes, you can easily take the storage building with you so you have it available on your new property.

We offer several financing options, with rent to own programs that feature low down payments and affordable payment options that fit your budgets. Our storage buildings can also be built with your custom needs in mind, so you never have to settle with what the storage company has to offer. And because it’s your building, you don’t have to worry about shoddy storage unit upkeep.

 

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