What You Should Know About Self-Storage Units
Do you struggle to find unused space in your home to store your belongings? Even if you have a garage, basement, and several spare bedrooms, you may still find yourself in this position at some point in time. It's frustrating when this happens, but thankfully there's a quick and easy solution available in the form of self-storage.
Self-storage facilities rent units to individuals and businesses in need of additional storage space. This is usually done on a month-to-month basis, with prices ranging anywhere from $50 bucks to month to several hundred dollars, depending on the facility and unit size (larger units generally cost more). Some facilities, however, have longer lease options available.
It's important to note that most jurisdictions in the U.S. have laws which prohibit the use of storage facilities from being used as a residence. Even if it's climate/humidity-controlled, tenants are not legally allowed to use the storage unit as a residence. I know this probably sounds like common sense, but you would be surprised to see some of the things tenants try to do with their storage units.
It's a common assumption among first-time storage unit tenants that any and all items stored within their unit is insured by the respective facility. While some facilities may offer insurance policies, these are generally few and far between. If you want insurance to cover the cost of damaged or stolen property in a storage unit, you'll need to seek it from an outside source. Contact your current homeowner's insurance provider to see if they offer such insurance. Your best course of action is to obtain self-storage insurance through a third-party such as this.
Again, each and every facility is different, but most self-storage facilities allow the tenant to use their own lock and key. This is in stark contrast to a warehouse storage in which employees have access to tenants' belongings. So if you're going to rent a self-storage unit, you'll need to bring your own key.
Be warned that failure to pay your storage unit rent could result in delinquency, at which point the facility can hold your belongings for a specified period of time before auctioning them off. The buying and reselling of items at storage auctions has become a hot business -- something we discuss a great deal about on our blog. People can attend these auctions, bidding on the contents of delinquent and/or abandoned units in hopes of winning it.