Acquiring Storage Units For Collectible Items

What Are Some Things To Look For In A Self Storage Contract?

Rooms, lockers, containers, and outdoor space can all be rented out under outdoor storage unit service. These can be a great deal as long as you are aware of what you're signing up for. What terms and conditions are included in that self storage contract? Here are some of the things to look for so that you're comfortable with the terms of your contract.

1.    Taxes can make a great deal into an okay deal. Each state, city, or country will have specific tax provisions relating to the rental agreement. Such provisions should be included in the rental agreement.

2.    Your self-storage agreement should provide for the items that will be stored in the rented space. If you rent outdoor storage units to store a vehicle, the agreement should mention storage of a vehicle as an acceptable use of the space. With car storage, you'll often want to note that items within the car aren't covered by the rental facility's insurance.

3.    The agreement should inform the tenant whether or not the storage space temperature is controlled. A climate controlled unit will help to prevent any chance of items being spoiled because of temperature change. However, for most stored items, climate control isn't needed, and the choice of outdoor storage units will prove to be far more cost effective. 

4.    Your self-storage contract should provide specific information concerning the rental period, rental terms, and grounds for contract termination.

5.    It should also provide how the tenant will pay the rent, the due date for rent, and the account the payment will be channeled to. It should also address various acceptable payment modes. For those seeking longer term storage, and automatic payment is often ideal.

6.    The contract should also indicate any other charges that the tenant will be expected to pay, such as cleaning or pest control upcharges.

7.    The contract should also address the current condition of the space being rented out. You should inspect the space and compare with what the contract provided. If there is some need to repair the space, that need for repair should be captured in the contract, or the owner should repair it before it's handed over to you.

8.    The storage insurance should also be covered by the contract. Is the storage space insured and, if so, who will pay the insurance premium during the period space is rented out? If space is secured by a security firm, who will pay for the security?

You should review your contract well before you sign. The lists provided above will help you safeguard yourself against any liability.