The Pros And Cons Of Renting A Storage Unit

11.1% of Americans rent a storage unit. There are 51,206 facilities with 2.04 billion square feet of rentable space.

Storage units do more than hold clutter. If you choose the right one and are ready to pay the costs, they can even secure your most prized possessions.

Read on to learn the major pros and cons of renting a storage unit.

Pro: Easy Moving Storage

The most common time to rent a storage unit is during what’s known as a transitional period. These include downsizing and selling or buying a house.

Use storage to help put a small investment of 1% of your home’s asking price into staging. It has an ROI of 5-15% over the asking price. It can also help sell your home 30 times faster and increase the final sale price by 20%

Pro: Variety of Options

Storage solutions come in a variety of sizes from 5×5 to 10×30 square feet. There are also several types of storage units, including:

Inside
Outside
Drive-up
Climate controlled
Business
24/7
Vehicle storage

Get in touch with the right facility and you’ll find the perfect storage unit to meet your needs. They’ll also offer long-term or short-term arrangements depending on how long you need to keep your belongings there.

Pro: Security

Renting a storage unit is more secure than keeping your belongings in a box in the basement. The facility is sectioned off by wood or chicken wire and has security systems and surveillance cameras. Each unit has no windows to let criminals peek in at your belongings.

Many facilities also offer insurance to protect your belongings. It doesn’t cover everything, but it does provide extra piece of mind.

Con: Costs

The benefits of a rental storage unit quickly add up, but so do the costs. You can end up paying $100 a month for even the smallest unit.

Budget for these costs before you rent. Get the right size so that everything fits and you don’t end up having to pay for two units.

Con: Organization

Americans spend 2.5 days a year looking for lost items. They spend $2.7 billion every year to replace what they can’t find.

This only refers to items at home. Trying to find what you need in a large storage unit can take even more time.

This is one con that’s easy to make easier on yourself. Organize everything from the beginning and keep a careful inventory. Mark down what’s in the unit and where it is. Keep the items you use the most in the front for easy access.

Con: Risk of Theft or Damage

Try not to put your most valuable items in a storage unit. No security measures can prevent every instance of theft or damage.

Prepare for it by getting ready for eventual insurance claims. Take a picture of everything you store and gather receipts.

Con: Inconvenience of Non-Local Storage

Do you have items you need to access often? A storage unit will only make getting to them easier if it’s local.

If accessing your items requires a road trip, it may be more economical to keep them at home. Certain facilities offer mobile units to bring them to you, so be sure to ask about them.