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Storage Unit Pricing
Storage rental rates are typically charged on a monthly basis, though different kinds of contracts can usually be negotiated.
The cost of a storage unit will depend on a number of factors. Because of this, storage prices see a large amount of variance.
What are the main factors that affect the price of a storage unit?
- The size of the unit. Smaller units are often cheaper than larger units.
- The location of the unit in the facility. Interior units, units on the first floor, and units near the elevator will typically cost more than other units.
- The location of the facility. Storage tends to cost more in big cities and less in rural areas. Price will also depend on whether or not the facility is located near the city center or out of town.
- Level of demand in the area (and in turn the occupancy rate at the facility). If no one is renting storage in your area, then odds are the facility will mostly be empty. As a result, the facility is probably willing to let units go at a cheaper rate. The opposite is also true: If occupancy is high, the cost of the remaining units will likely increase.
Besides rent, what other fees might you incur?
- Administrative fee. An administrative fee or "admin fee" is a one-time fee that the facility charges at the time of move-in. This is a very common fee in the self-storage industry. It is used to offset the costs of setting up your tenant account and processing paperwork. Usually, the admin fee is between $15-25, although in some cases it can be more. Sometimes this fee will replace your security deposit charge.
- Security deposit. Unless otherwise stated, many storage facilities DO NOT require a deposit to rent a unit. An administrative fee is usually charged in place of the deposit to offset the costs of paperwork.
- Insurance. Some facilities require tenants to purchase insurance at move-in, although many will accept proof of existing homeowners or renters insurance. Bring your declaration page when you visit the facility to potentially waive the insurance fee, which is usually around $10-20. Regardless of whether your facility requires this or not, having insurance is a great way to protect yourself and your belongings while in storage. Better safe than sorry!
- Others. Tax amount will vary depending on where you're renting. You will also need to provide your own lock for your unit, which can range from $5-50. Additional things you may be charged for include: 24-hour access, dumpster service, electrical charges, etc.
Can the facility raise my rent?
- Yes. Rent increases are common in the storage industry and depend on market prices in your area. If you're concerned about a rent increase during your tenancy, go through the lease carefully with your storage facility. Make sure you're clear on notification procedures, should a rent increase occur.
- If price is your main priority, we recommend conducting a search on SpareFoot and sorting by price to find and compare the most affordable options in your area. SpareFoot facilities also offer exclusive discounts for our customers, which means you are getting the best deal available on self-storage.
- If you're a member of the military or a college student, be on the lookout for special discounts. Additionally, AAA members get the first month of storage free AND a $20 Amazon gift card from SpareFoot at qualifying facilities. Learn more about it here.