Turn your knowledge into money
If you have a passion about a niche or specific topic you may be able to earn some passive income by creating and selling an e-book. It’s easier than you might think. Learn more.
Storage units are popping up at a record pace to meet the demand of consumers buying stuff with no place to store at home. Competition has risen to satisfy this demand leading to more innovation. Innovation leads to more options for the consumer. There popping up because there is money to be made….but let them find a way to make their money from other people and not you. Leave your comments, advice, experiences below.
The fees related to storage typically include a deposit and a monthly fee. The reoccurring fee depends on the unit size and perks such as climate control, accessibility, and security. As with any contract, read the fine print and understand the total financial commitment. Review the ability to exit the contract, associated fees, and the refund policy.
Most will offer a lucrative introductory rate but you can be assured that they’ll get their money in the long run. As expected, these offers have special terms and restrictions but it could be a suitable fit for your case. Most likely there will be taxes, admin. fees, and others tacked on to this offer.
What Storage Unit Owners are saying…
Check out the link below and you, as a tenant, can get some ideas of how storage unit owners make money and protect themselves. It can also generate some questions for you to ask to understand your fees and any opportunities to reduce your costs.
Tax Deductions for Storage Fees
If you own a business and pay rental fees for storage, you may be able to deduct storage costs related to items used to operate your business. This includes items such as tools, supplies, equipment, and vehicles. Contact a tax professional or your tax preparer to determine if this could benefit your business.
Job Interview Preparation
Like most things in life, you get out of it what you put into it. Preparation is key to put your best foot forward during a job interview. Practice, repetition, presentation, body language, choice of words, and confidence. Learn more.
Storage Unit Cost Reduction Ideas
Be careful paying for your unit by phone. Anytime you engage a person this costs the company money. Expect to pay a fee ~$20 if you’re paying for your unit expenses over the phone or in person.
Avoid Late Fees
Late fees are common and paying too late (usually 30 days) can lead to more serious consequences. Automatic payments are one way to help avoid late fees.
Depending on the company you may be able to negotiate a fixed price for a year or even negotiate a price for a duration of time that you specifically need such as 2 weeks, 2.5 months, 14 months, etc.
You may be able to get a discount paying with cash or a lump sum up-front of cash or check. Usually these flexible forms or payment are more apparent with smaller companies or storage facilities owned and operated by a person, family. They have the flexibility to negotiate all terms on the spot with you.
You may also have to put down a security deposit which is intended to compensate the owner if there is damage to the unit and costs to deal with anything left behind. You may get hit with cleaning and disposal fees with your account going to collections if the initial security deposit is insufficient and you don’t pay the difference. These are things to take care of in order to avoid additional fees, time, credit score damage, and help ensure you get any deposits returned to you.
If you are using a moving service and looking for short term storage, it may be possible that the moving company, such as UHAUL® has options that can make the entire relocation process more of a bundled process. This can lead to better overall costs and more convenience dealing with one company. It may be worth to evaluate larger/bulkier items to determine if it’s worth paying to MOVE + STORE those items (and for how long). Many times a tenant plans to use storage for a short duration but it turns out to be longer thus adding more costs. You may be further ahead selling, donating for tax deduction, scrapping, or discarding the item. And if you need it again, what is the cost to repurchase it?
Popular Storage Companies
We don’t endorse, have any affiliations, nor get a commission from the companies below. It’s likely that your town, or nearby, has smaller, local options as well. Some of these companies provide only a contact form, others a phone number and a live chat option.
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