By Graci Woodworth, US Storage Search.
When using self storage to gain some extra space, it’s important to first be aware of potential fees that may arise throughout your time as a tentant. Depending on your individual storage needs, listed below are a few extra charges that you may run into along the way.
Increase in Rental Rates: The frequency of rental rate changes or increases will vary from facility to facility. Some facilities may give you a guarantee upon signing that your individual rent will not be raised for a specified amount of time. A good rule of thumb is to bring up any concerns pertaining to the rental rate before officially renting out a unit or moving your stuff in— that way, you wont be in the dark about the way your facility operates.
Tenant Insurance: Storage facilities can’t require the type of insurance you carry to cover your items, but they can require your stored items to be covered under some form of insurance. Not every facility operates with this requirement, but the trend is definitely on a steady increase.
Late Payment Fee: If a rental payment is missed, a late fee may be added to the remaining outstanding balance of your account. Although, most facilities offer somewhat of a grace period to cater to individual circumstances, as long as the missed payment is not a repeated offence. Many facilities have also implemented online payment and automatic payment options to eliminate your chances of receiving this fee.
Extra Features: While it might not necessarily be a fee, rental rates for storage units with features like climate control, individual alarms, electricity, or WiFi almost always run at higher rental rates than those without.
Other fees may include:
- Damage Fee
- Lease Termination Fee (if your facility does not allow month-to-month rental options)
- Lock Change Fee
Don’t be afraid to get the low-down from your manager about the storage fees you can expect upon signing, as the terms and conditions will always vary for each business.