5 Things to Consider Before Renting a Storage Unit

Do you need a storage unit? Self-storage is a bustling real estate industry that is ripe with opportunities for companies, and filled with potential pitfalls for consumers.

Depending on your circumstances, renting a storage unit for a short period of time could be a wise financial move. On the other hand, long-term storage can become costly and inconvenient. Paying to store things you don’t need, use, want, or even remember you have is a waste of money.

When is renting a storage unit wise? When is it a waste?

Here are five things to consider before renting a storage unit.

Do any of these situations apply to you?

1. Moving or Relocating

If you’re moving, buying a home, selling a home, or remodeling your home, a short-term storage rental may be a good option. For example, if you need to declutter your home to make it more presentable on the housing market, you can place some of your belongings in storage.

Likewise, storage may be a good option if you’re between houses and need a secure place to stash your stuff while you transition to your new living arrangement.

2. Equipment Storage

If you’re a business owner, hobbyist, or collector, storing your equipment in a storage unit may be more cost effective than leasing a warehouse, renting a building, or buying property for a specific use. If, for example, you have a lawncare business, it may be cheaper to store your lawn equipment in a secure storage facility than rent an office in town.

A storage facility may be great for seasonal storage. And, compared to storing items at your home, storing your gear off-site could be less disruptive for you and your family.

Keep in mind that you cannot live in or work from a storage unit. It is not an office or a habitable living space. Moreover, living or working in a storage unit may be illegal. Read the terms of your lease to ensure you are not violating the law or the terms of your rental contract.

3. Unwanted or Unused Items

If you’re thinking about renting a storage unit to store things you don’t want, don’t need, or don’t use, consider alternative options. Renting long-term storage for something you never plan to look at again is a waste of money.

Here are your options: Donate it. Gift it. Sale it. Trash it.

If you don’t want it or don’t use it, get rid of it. Don’t keep throwing money at it. You could use that money for something else.

4. Clutter

If your home is cluttered, you may be considering moving some of your belongings to storage. Moving your stuff to storage won’t eliminate your problem. It will exacerbate it.

After putting everything in storage, you may look at all the new, clean space that is available to you. If you’re not careful, you’ll end up filling your home with more clutter. Then, you’ll be back where you started. Only this time, you’ll be wasting money because you’ll be paying to store some of your clutter elsewhere while you continue living with the rest.

Before getting a storage unit, take time to declutter your home. You may find you don’t need that storage unit after all.

5. Home Storage System

If you have space at home, but lack a storage and organization system, you may not need a storage rental. Develop a storage and organizing system to maintain order in your home.

Add slatwall panels or pegboards to your garage wall. Invest in clear storage bins for your toiletries. Set calendar alerts to remind you to regularly declutter your home.

Instead of paying monthly rental fees, it may be prudent to invest in home storage solutions. Organizing your existing space may help you identify ways to reduce the need for additional storage.

Organizing and decluttering your home will take time. However, these long-term solutions may prevent long-term storage problems.

In Sum

What will make storage rental a wise decision for you? What will make it a waste?

Storage unit rental could be a financially viable option if you’re moving, between residences, or need to store equipment. On the other hand, if you find yourself in need of long-term storage, think about what you can do to minimize your costs, time, and effort.

Before renting a storage unit, think about your situation and decide what’s best for you. Regularly reassess your needs. Implement storage solutions that align with your life and goals.

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