Whether you are renting a car for the week or going on holiday for a month, you will always have a budget that you need to consider and make sure that you don’t exceed, and when it comes to renting a self storage unit for a month or a year, you still have to make sure you can afford it and that the option is actually viable for you.
Self storage is an amazing thing and it has so many different benefits including:
- Low Costs
- Climate control
It is used by many different people for many different reasons, and it is becoming increasingly popular every single year. However, there can be one downside to using storage and that is using it when you cannot afford to. Of course, this is so unlikely as it is so affordable, but it can happen, and quickly one months overdue rent can turn into a year’s worth plus any penalties incurred by the facility.
Nobody wants to be in this situation and lose access to their valuables, let alone receive bills for overdue payments. Luckily, there is an easy way to avoid this, which is to ensure your storage costs stay within your budget. Here’s how to do it:
Consider What You Need It For
Think about why you need the storage. If you need it for business purposes, think about how much space you need to be comfortable, without stock getting squashed in. If you need it for moving house, consider the length of contract and how much that will cost, for example, you need storage for a month but the company only do a six month contract. Also consider if you really need it. Self storage is always beneficial but, there are exceptions if you’re on a low income and really all you need to do is clear out your garage rather than fill it with more stuff and store the rest.
Consider ALL The Costs
You might budget all the costs for a year, but have you included all of the costs that the facility is going to request you pay? Maybe there is an extra charge for the facility taking your deliveries, or for evening access, or for insurance – ask for the full rate per month so you can consider exactly how much it will be.
If you have set a budget before shopping around, don’t suddenly think that because the first few facilities are above your budget that there isn’t another answer. Don’t be afraid to compare prices and even haggle with certain facilities, as many will offer price match guarantees and even discounts to make sure they win your long term business. There’s no harm in shopping around for the best deal.
Don’t Assume You Can Pay For The Full Term Of Your Contract
Don’t rely on your current job paying for the contract all year, because nothing is ever certain. This is a legal contract so if you suddenly lose your job, earn less one month because of illness, or simply cannot pay – you will still be liable for the costs of the unit. Consider the costs of the full term and then think about how you will pay if you don’t have your regular income. The costs may be very low in which case savings would cover the monthly bills, or you could easily loan the costs from a family member or friend. However, if you rent a large unit, the costs are likely to be much bigger, which spells much more of a problem if you struggle to pay. Never assume you will remain in the same financial situation when you are tying yourself into a contract.
When budgeting for self storage, it pays to research flexibility in terms of the unit. Can they downsize your unit for you if you need a smaller space? Will they give you any leeway on late payments? Can they recommend the most economical option when it comes to storing your items? The more flexible a unit is, the better able you will be to move your budget around as and when you need to.
Consider It A Priority
By considering how to ensure your storage costs are within your budget, you are already one step ahead of a person who hasn’t even thought about prioritising this consideration. Budgeting is important and you’re already ahead of the game by making sure you’re getting it right from day one, rather than worrying about things if and when they happen.