In 2012, the self storage business reached $2.1 billion in sales. This number, along with the business’ minimal planning for tenants to rent space, has attracted investors who are looking a way to expand their business operations. With eyes on the prize, there is no surprise why there are investors who don’t even know what self-storage business really is.
Because there is always a constant need for space, self-storage units became popular in recent years especially in America. Out of 58, 000 storage facilities in the world, 46, 000 is in the United States and that was in 2009. Years after, the number of storage facilities continue to grow actively.
People who owns a lot things but cannot store it in their own garage resorted to renting a space with a binding agreement. This binding agreement encompasses a bargain that requires the tenant to pay a specified amount of money on a month-to-month basis for the self storage company. Given that the tenants will provide their own locks, this will ensure that the tenants have only the sole access to their rented space which is very unlike in a warehouse-system. Certain companies, however, enforce a strict schedule system where tenants can only visit or check their possessions on at given time.
When renting a storage unit, always consider the things you’re going to and you will store. This will help you understand the type of unit that you may need and estimate the cost. For example, regular storage units are advisable for a client who simply has to store household articles like an extra furniture or legal documents that has to be kept outside the home. However, a client with valuable books, old paintings and other family heirlooms is advised to use a climate-controlled storage units. This type of self-storage unit uses a heating or cooling system to maintain air temperature since some of valuables can deteriorate over time or in excess heat. Upon request, the client can also ask the company if they the tenants can have access to their possessions if there is a viable reason.
Also, ask for the company’s insurance despite some articles being under the client’s home insurance policy. As a form of risk management to mitigate unwanted loss, some storage companies have their own insurance policy that will cover damages over the articles under their care. Understand this very carefully, if there is any. Some company policies dictate that there is a limit on how much the company will pay when things get a little offhand.
Using a self storage unit is like basically trusting the company wholeheartedly since the client will hand personal articles into their care. It is, then, the responsibility of the customer to know everything that there is to know and ask relevant and responsible questions. In return, since this service is not free or charge, the self storage facility has to guarantee the service that the costumer will receive.
