Grasping the Cost of Self-Storage

When you think about renting a self-storage unit, the first thing you tend to contemplate is the expense. You must stash your stuff somewhere, but how can you be sure you won't be paying an arm and a leg for a unit that just plain doesn't fit? As far as rent rates go, self-storage is typically an unknown quantity to many of us. If you're one of those many, we're about to give you some help in figuring out what you might expect to pay and how to go about finding a unit that more or less fits your budget. But first, we need to talk about what influences the cost in the first place. The unit size is one of the most important factors that affect the storage price. Smaller units (e.g., 5x5 or 5x10) are, of course, more affordable than larger units (e.g., 10x20 or 10x30). It's vital to choose an appropriate size based on your storage needs. SpareBox Storage, for instance, offers a range of sizes, which allows customers to find a unit that's not only affordable but also a good fit for their belongings.

If you want access to your storage facility around the clock, or if you want units that are drive-up, or if you want the extras—like moving supplies and truck rentals—that together make a facility feel like a modern, well-appointed hotel for your stuff, you will pay more for those services. They add value. And if you need easy and frequent access to your unit, they add even more value.

Self-storage buildings may have myriad security features, but the most effective is often simple: an attentive, on-site manager who can see what is going on inside and outside the building at all times. These buildings may also have the best security if they are protected by an effective perimeter. With gated access, good lighting, and an effective path from the street through to the front door, a self-storage building has many good defenses. Those at the most vulnerable locations may also be using an effective offense: security patrols that go through the neighborhood and make their presence known.

Think About Where the Facility Will Be: Decide whether you need a place close to home or if a more distant, and thus perhaps more affordable, facility will suffice. Don't Forget the Hidden Costs: Consider whether you will need to pay for insurance, administrative costs, and any other extra services that could make your overall cost much higher than you expect.

To wind up, the storage prices are determined based not just on the units themselves but also on the locations of those units. Self-storage facilities tend to be sited in high-demand real estate. Why? Because people want (and need) convenient access to their things. Conversely, the cost of living in anything close to the self-storage facility means that the facility's owners (or, in our case, the REIT that owns the facility) must have a way of generating revenue that can… Well, you get the idea.