Self-storage units are used for a variety of reasons. They are commonly used for home downsizing or moving from a larger space to a smaller one. Many people also opt for self-storage units as a way to safely store their belongings. Plus, many self-storage facilities are available in multiple areas for your convenience. If you’re considering renting a self-storage unit, you may want to consider a self-storage monthly contract. A monthly contract provides you with some security and can help avoid future conflicts.
What is a Self-Storage Contract?
A self-storage contract is an important document with a person’s contact information, the terms of the agreement and payment information. A storage contract is also known by other names including Storage Rental Agreements, Storage Unit Lease Agreements, Storage Unit Contracts, Storage Space Lease Contracts and Storage Space Lease Agreements.
Why Consider Month-to-Month Storage Rental?
There are many factors to consider when you decide to rent a storage unit. The length of a contract depends on how many items you have to store, and how long you need to store them for.
A monthly storage rental agreement works well if you have little to store and you don’t have to store it for very long. For example, perhaps you are in-between homes and just need to store something temporarily. Many companies offer month-to-month storage that is convenient and flexible for short-term agreements. The benefit of a month rental agreement is that you don’t have to commit to a contract long-term, and the lease will be based on your move-in date. As a result, your rent will not be due until the following month.
Essential Contract Information
If you are signing a contract, make sure that it has the necessary information. It should include the address of the storage facility, a client’s address, phone numbers for the storage facility and the client and the storage unit number. The agreement should also specify the timeline of the contract.
In addition, the purpose of the unit should be listed in the agreement. For example, it can list the items stored in the unit including personal belongings, non-perishable properties or other purposes. There should also be details on what is allowed and not allowed to be stored in the unit.
Payment is important in an agreement. The payment terms should detail what arrangements are made, and if payments are subject to change. Payment terms can also include grace periods, late fees, deposits and when payment is due. If a rate does change, ensure that the agreement has a 30-day notice. Proceed with caution—never make an oral agreement, always make sure it is a written contract. You can even specify in the contract that no oral contracts are to be made. Don’t forget to ask about lien fees to avoid potential miscommunications.
When rules are being implemented, make sure that the storage company has them posted onsite, so you know what they are. Include rules in your contract as well to avoid any future issues.
Termination of Contract
If you fail to pay your rent on time or breach the agreement in any way, many owners may proceed to collections. To avoid any potential consequences, add a clause in your agreement about allowing you to terminate within a specific time, in accordance with the law.
It should be clear in your agreement on when you can access your unit. Time limitations can vary, but one rule many people abide by is using hours where you aren’t able to live in the unit. Another step you can take is by mentioning how the unit will be used: for example, for business purposes. If you require access to something like power, be sure to request it in your agreement and explain for what purpose.
Protections from Liability
Liability in your unit agreement is extremely important. Having extra insurance to protect your stored items is a great idea in case there is any potential damage to the unit. To take it one step further, ask an attorney to create a clause in the document for liability protections.
The lease should also detail that tenants are storing items at their own discretion and that a facility is not responsible for the security of these items. Be specific with what items are not protected and be sure that they are included in the document.
Important Questions to Ask
To ensure that there are no issues with your agreement in the future, consider the following questions to ask a storage unit company:
You’ll want to know that your items are as secure as possible. Ensuring that a company has strong features in place for security will put you at ease. Some self-storage units have the following security features: 24/7 CCTV, strong padlocks, smoke alarms and patrols around the facility.
Are There Extra Fees?
You don’t want to be surprised by any extra fees. However, most self-storage facilities charge a setup fee, and some do charge a security deposit. When doing your research, find out what extra fees a facility requires.
What Size are the Units?
When renting a self-storage unit, it is essential to consider the size. Of course, choosing a space depends on how many items you need to store. To be sure, ask someone from the facility to show you around and the size of the spaces so you can find the unit that works best for your needs.
What is the Length of the Lease?
Since you are opting for a month-to-month agreement, ensure that it states in the agreement that you are renting on a monthly basis. Some contracts require longer-term commitments, and you don’t want to sign an agreement where the contract runs for a year or more. Before signing an agreement, read it very carefully so you don’t accidentally commit to a rental longer than you intended.
A monthly contract at a self-storage unit has its advantages for individuals looking for short-term storage. At Abacus Self Storage, we offer monthly self-storage contracts and many other deals on storage for individuals in the Greater Toronto Area. We have had thousands of satisfied customers who have rented from us repeatedly and recommended us to their friends. Our storage facilities are secure, clean, and climate controlled, and we offer a variety of sizes to suit your needs. Contact Abacus Self Storage
today or call us at 905-763-8600
to learn more!
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