Temporary storage is required for your items if they are to be stored temporarily. You probably require extra space for additional inventory, or you want some items to be stored away from your home over a period of time. Regardless of your reason for renting a storage unit, you are certainly looking to pay a fair price for what you rent. Storage unit prices are different from one to another, regardless of the location.
Fortunately, this is the first time in many years that the cost of storage-unit rentals is predictable with more service providers venture into the business. However, there are many factors to consider when choosing where to store your possessions, these are not limited to convenience, location, size, security, and so on.
The price, however, is one of the major factors to consider. It is essential to search for the best self-storage price if you plan to use one for a longer period before you consider other criteria.
Most college students go through the stress of taking their stuff home before they get a place to stay for the next term during summer. Self-storage provides you with convenience and security on your belongings when stored in them, whether for some nights, weeks, or the whole summer.
All you need is information about how to get the storage units for your belongings at most reasonable cost. Everything you need to know before you choose the best self-storage option for your belongings is available to you in this article. Let’s start by discussing cost of renting a storage unit briefly.
What is the Cost of Renting a Storage Unit at a Glance?
It will cost an average value of $88.85 to rent a self-storage every month. This cost is just 2.5% lesser from the average cost in the year 2017. All orders for the entire storage sizes and types are included in the average package provided by companies the previous year. The average price/sq-ft is also reducing. The average price per annual sq-ft was $0.96 in 2018, compared to $1.01/sq-ft in 2017. The increase in new storage construction nationwide is the major reason why prices are fallen. Prices in many locations are reducing drastically as the demand for storage units are being met by supply gradually. Meaning that, storage companies are deflating prices due to the rise in competitions compared to recent years.
Costs of Average Non-Climate Controlled Storage Size
The cost of renting a storage unit is between $35 and $50 every month for a 5 x 10-foot storage unit. It will cost about $175/month for a 10 x 30 foot as well. The security measure on a cheaper storage unit is always lower. The prices given above are for regular outdoor storage units with no options.
Cost of Average Climate Controlled Storage Size
The monthly cost of the average climate-controlled unit increases by $25 – $30 higher than non-controlled storage units. The monthly cost of a fully-loaded 10 x 30-foot weather-controlled storage unit is around $350 while the monthly cost for a smaller 5 x 10-foot storage unit with options ranges from $120 to $175
Factors Affecting the Cost of Self-Storage
Kindly note that, the average prices given above are for both climate-controlled and regular units that have no climate control feature. Generally, climate-controlled storage is much costlier than regular units with 30% to 50% increase. Many other factors can influence the price of storage units regardless of the location. For instance, a storage facility in an urban area will generally be costly than the one in the rural area. These other factors must be given serious consideration when looking for a storage unit for rent.
Climate-controlled units protect your stored belongings by regulating humidity and air temperature throughout the storing period. Be prepared to pay more than the usual to rent a climate-controlled unit because its installation, maintenance, and powering require extra costs. Although you will be able to save some money by renting a regular storage unit; however, your belongings will be prone to excessive high humidity and temperatures. If you are storing durable items for a short period then you have no cause to worry; else, it is recommended to opt for climate-controlled storage units for delicate and valuable items for a longer period of storage.
The cost of renting a storage unit from May to September is always high compared to the rest of the year. This is because most Americans relocate to new homes during this period, causing a great rise in demand. Storage companies during this period also inflate the price for storage units. You will save more money when you rent a storage unit during the off-season than you would do during the peak season.
The size of storage units is probably the major factor that determines its cost. Larger storage units are generally costlier than smaller units. But based on per square foot, the cost of larger storage units should be lesser. To calculate the price per sq-ft, multiply the unit’s size (10 by 10 = 100) to determine the overall square footage. You can then divide your monthly rent by the overall sq-ft. the answer will give you the price per sq-ft, and thus will let you know if you are being over-charged on larger storage units.
Special Storage Offers
The storage industry is widely known for promotions and specials. For instance, some of these companies don’t charge for the first month. Consider these promotions when given the overall price of a storage unit by your storage company. Make sure you read the terms and conditions of the promotion to know if you are required to make certain commitment, whether small or big. Sometimes, storage facilities will offer discounts to members of a club or professional organizations; so, make sure you ask them. For instance, SpareFoot offers one-month free storage service for members of AAA and also give them a gift card worth $20.
Insurance Coverage Cost
Kindly note that the cost of insurance is not added to the price of the storage unit. Majority of storage companies ask that you insure your belongings while some may require proof of insurance. In most cases, your renter’s policy or homeowner’s insurance will provide coverage for your belongings, but not all the time. Your storage facility can also provide insurance for your belongings at a cost. It will cost about $10 – $12 monthly to purchase a $2,000 coverage. This price can increase up to $30 and provide insurance coverage worth $5,000.
Type and Location of Facility
The type and location of the storage facility is also an important factor that determines the price. A storage facility in a populated city will cost more than the one in a remote area. This is because demand will be higher in cities than in the rural area. The type of facility, as well as the condition and age are also factors that influence the cost. Modern storage facilities are typically higher in cost compared to an older storage facility.
There are many other amenities available that will increase the monthly cost of renting a unit. For instance, a storage facility that provides video coverage all through the facility might charge more than a storage facility with no surveillance camera. To gain regular access to your units, you might also be charged a certain amount depending on your location. There has been a report of facilities that uses a kiosk system to manage rentals. This particular type of storage system might come at a cheaper price because there is only an onsite manager and no form of wages for the employee.
Other Facility Charges
Check with your local authorities if there are taxes incurred on monthly storage rent. Some storage facilities might as well include administration fee on the overall monthly cost estimate.
The Cheapest Storage Units
Our team rated storage unit companies that offer size guides, weather-control options, storage calculators, and 24-hour access to be the top. Our price comparison is focused on the monthly cost of a 10 by 10 self-storage unit. Higher rates may be charged in areas with increased average rents.
Below are our picks for cheapest storage unit companies you may consider for a great deal:
Call: (855) 284-8189
Overall Rating 4 / 5
This company is an online-based storage solution center with more than 12,000 storage centers across the country. Sparefoot was established in 2008 and had their headquarters located in Austin, Texas. Both businesses and consumers can visit their platform, make a reservation, and compare both full and self-service storage units, including mobile storage solutions on their website.
The location of place, gathering of information based on the sizes of the storage units, which include 5 by 5, 5 by10, and so on, are present in each facility. The company offers discounts to students, and military and rental are available every month. Each facility determines both their payment option and insurance, as contained on their website.
The company also provides moving supplies and storage unit size guides in each of its facility. Some of the Sparefoot facilities offer climate-controlled storage units and mobile storage containers as well as 24-hour access by consumers.
2. Extra Space Storage
Call: (866) 860-5084
Overall Rating 4.5 / 5
This company is a self-acclaimed second largest self-storage company in the United States having thousands of storage centers nationwide, providing business, personal and vehicle storage solutions to customers. The significant building and availability of Extra Space Storage make it one of the best storage operators on our list.
The company is located in the Lowry district, and it uses an old airplane hangar converted into a modern storage facility for its operations. Customers from nearby neighborhoods such as Cherry Creek, Montclair, and Hilltop enjoy using Extra Space because of its friendly employees and unique facility.
Extra Space Storage has about 1,500 self-storage units in Puerto Rico, Washington DC and other 35 states in the country, including about 750,000 storage units and more than 80 million sq-ft of storage space available for personal or business rent, as well as vehicle storage.
The company also offers the first month for free and a 20% discount for online reservations. Their smaller units (5×5) costs $48 per month, and their 10×30 units go for $455 per month. The security of the facility is certain, and daily drive-up access to your unit is granted from 6 am to10pm.
3. Life Storage
Call: (800) 800-3456
Overall Rating 4.3 / 5
This company provides unique facility features to customers as well as top security and other moving services on their belongings. The company also offers climate-controlled storage units for your household belongings which may include watercraft, wine, and vehicles.
Even though the company only offers storage units of standard sizes, they also provide many auto storage units that can contain many moving boxes and other big items. Life Storage is on our top list of storage operators due to its commitment to providing excellent customer service and quality of service delivery at all time.
The storage units from the company contain features like a free moving truck, daily customer support, uninterrupted surveillance camera, hand carts, and climate control. To get any type of storage project, this is the best place to look.
The smallest storage unit from this company is the 10 x 5 that costs $72 per month and the 12 x 20 is the largest and costs $220 per month. Make sure you carefully focus on their price as the company is currently offering a 50% discount on your second month or even free of charge based on the unit. Life Storage also allows you access to your nits from 6 am to 10 pm with separate intervals during holidays.
Call: (800) 722-5728
Overall Rating 4.5 / 5
This company provides great storage solutions for individuals, families, and businesses planning to relocate on a short or long-distance. 1-800-PACK-RAT provides all-steel and waterproof storage containers with the doors using patented chamber technology which makes the containers usable as an ozone chamber to take care of items that may be damaged by smoke or water. Even though this company is neither a self-storage, nor a full-service storage company, the storage options they provide covers for the things they lack. The company is known to be more dedicated to providing excellent support service to customer and helpful resources.
The company partners with HireAHelper and thus connects customers with moving teams in their location. The company also states that they are into relocation services at affordable prices, as well as long-distance relocation with professionals helping you with the process. 1-800-PACK-RAT also provides customers with one-month free rental and insurance coverage of about $10,000 free of charge.
5. Storage Sense
No Phone Number
Overall Rating 4.2 / 5
This company provides a significant number of unit types and sizes for customers with ease of identifying the perfect storage solution for their belongings via thorough descriptions of their facilities, with location details, working hours and other relevant features, even though their coverage area is limited. Despite the friendliness of the company’s website, there is no information as to the pricing and monthly fees of the company on their page. Regardless of this fact, this company is one of the best options for those looking for an affordable storage solution with varieties of unit sizes.
Although the company is into monthly leasing of units, it is, however, not certain if they can rent for longer periods. Storage Sense offers the promotion to individuals and businesses like move-in rate of $1 for the first 30 days and a 50% discount for the first 30 days as well. They also offer insurance coverage of $2,000, which costs $9 each month up to $20,000 at $83 per month.
Who is the Cheapest Storage Units of 2020?
- Extra Space Storage
- Life Storage
- Storage Sense
What are the Uses of Storage Units
Although, the majority of them cannot be covered in this list, however, if your self-storage unit allows you to save some money or you don’t plan to use it for a longer period, then it is safe to say OK. Whichever way you want to use a storage unit, ensure your purpose is legitimate and not illegal.
Below are some examples of the usage of smart self-storage:
- Relocating, buying, or selling a home: This is one of the best times to opt for self-storage. I once said that when we were looking for an apartment, we invest in a storage unit for 30 days. You are not considering moving your furniture and household items with you while going to crash on your friend’s couch for a week before you move into your new home. Storage is also a nice option for those relocating for their job and doesn’t have a place to live in yet. You can as well rent a storage unit if you are renovating your home and you need to store some items in the process.
- Making payment for a little extra space: The majority of the smallest storage units (a walk-in closet size) in our area were cheaper. Although prices are determined by location and company, however, you can get an affordable storage unit if you will devote your time. You will be able to save some money if you are facing hard times fitting all your belongings into your home. Evaluate the cost involved in renting a storage unit for your non-essential belongings and the cost of moving to a larger apartment or home.
- Protecting an investment: If you do not have a secure place to keep your luxury car or other valuable investment in your space, then you can opt for a storage unit. You will also be required to conduct a cost evaluation again. If you truly have a series of belongings that needs proper care and you can pay for a storage unit – go ahead. However, if renting a storage unit will take a massive part of your budget, you will have to calculate if the return on the investment will make up for it.
- For business purposes: Small enterprise owners can make good use of self-storage units. For example, there are many lawn Care companies and contractors in our area. These companies rent storage units for their equipment rather than paying a huge fee for an office with an attached warehouse. You can also rent a small storage unit that contains file cabinets for your files if your business only has files but no equipment. There is a need for proper documentation for longer periods as an enterprise owner. Renting a storage unit may allow you to save some money than opting for a larger office in the long run.
Take your time to find out the best storage unit for your needs and make sure you factor in the price, location, insurance, and size and storage type while considering a particular storage company. A climate-controlled storage unit might be the best option for you if you plan to store your belongings over a long period. Make sure you request for a discount from your storage company as most of them offer the first month of storage for free to their customers. Also, place more priority on security feature of the storage facilities and the ease of access provided by the storage company.