Hidden Fees To Watch For When Renting A Storage Unit
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Hidden fees to watch for when renting a storage unit include administration fees, cancellation fee and lock charges.
Each storage unit facility will have their own policies so always read the contract thoroughly before signing anything.
At The Box Co., we keep our contracts simple - no hidden fees and flexible, affordable storage to suit your needs. Want to learn more? Get in touch with our team today!
What Are The Common Hidden Fees When Renting A Storage Unit?
Some of the most common hidden fees that can make self-storage expensive include:
Administrative Fees
It is not uncommon, especially in some of the larger storage companies, to charge a one-off administrative fee when you first set up your storage rental. This is a non-refundable fee and will usually cost between £10 to £20.
If you’re an existing client, you won’t need to pay this every time you choose to rent storage with them.
Certain companies charge administrative fees for particular payment options. For example, there may be no need to pay an administrative fee if you handle all your payments online. Similarly, you may not have to pay an administrative fee if you set up a direct debit. It’s always worth checking with your specific storage facility if they have any administrative fees and what they are for.
At The Box Co. we never charge you admin fees. Our prices are all inclusive, starting at £3.56 per month, so it's flexible and affordable throughout.
Additional Insurance
If you don’t have your storage items covered by any existing home insurance policies, you’ll need to take out separate insurance. Doing this through the storage company could catch you out as their prices tend to be more expensive.
If you want to avoid this hidden fee, make sure whether storage items are included under your existing home insurance policy to avoid paying twice or choose a storage facility like The Box Co. with insurance already included as standard.
Late Payment Penalties
Missing your storage payment could lead to late payment penalties. The exact price of this will depend on the storage facility, but tends to be fairly high. Luckily, it’s easily avoidable by setting up reminders to remember payment deadlines or putting a direct debit in place.
Security Deposits
As with renting a property, sometimes storage facilities require a month’s rent which acts as a security deposit. If everything is okay with the storage unit at the end of the rental period, this deposit should be returned to you. However, the company may look for excuses to not return your deposit.
Access Fees
Certain storage facilities will charge extra for services like 24-hour access, entering your storage unit outside of hours or driving up directly to the storage unit. This can quickly add up, especially if you need to regularly access your items.
Remember to compare different providers before signing a storage contract and looking out for this.
You may want to choose a service like The Box Co. that offers storage by-the-box. With this kind of storage, your items are collected and delivered to you whenever you need them at no additional cost.
Price Increase
Some storage contracts permit the facility to raise its monthly rates with very little notice, even if you’re in the middle of an existing lease. Price increases often catch people out, especially when prices are raised after a promotional period or self-storage price increases after the first month.
This will be stated in the terms and conditions of your contract, so make sure to keep an eye out for any policies regarding notice period for increasing prices.
Buying A Lock
When you first go to the storage facility to store your items, you may be caught out with the hidden fee of having to buy a specific lock.
Facilities often require you to buy a specific lock for their particular units which you can only buy on-site. This can soon set you back between £10-20.
How Can You Save Money When Renting A Storage Unit?
Luckily, there are ways to save money when renting a storage unit, including:
Choose The Right Size Storage Unit
Save money by choosing the right size storage unit and avoid paying for any wasted, unused space. Optimise the space of your storage unit as much as possible by packing efficiently and using the whole unit, including the vertical space.
Opt For Storage By-The-Box
You could save a lot of money on your storage by using storage by-the-box instead of renting out an entire storage unit.
Storage by-the-box lets you pack your items into boxes and only pay for the amount of boxes that you want to store. Rather than fixed-period contracts, you just pay for the amount of time that you want to store the boxes.
You also don’t have to pay for any additional costs like access fees, locks or insurance as insurance is included as a standard for each storage box and boxes are picked up and dropped back to you directly. This is by far the best option if you’re looking to save money when renting storage.
To find out about The Box Co.'s storage by the box offering, speak to the team today!
Compare Costs Before Signing A Contract
Always remember to shop around and compare different prices before signing with one storage facility in particular. This will help you save money by making sure you’re getting the best deal available.
Check Your Existing Insurance Policy
Before contracting additional insurance and paying the high prices of the storage facility, make sure what’s already included in your existing insurance policy.
Your home insurance could already cover everything you need. You could also opt for a storage facility like The Box Co. that has insurance included as part of the standard cost rather than charging an additional fee.
How Can You Avoid Getting Caught Out By Hidden Fees When Renting A Storage Unit?
The best ways to avoid getting caught out by hidden fees when renting a storage unit are:
Reading the lease thoroughly and understanding all fees and charges.
Using autopay or direct debit to avoid late payment fees.
Following the cancellation policy, notice periods and moving out procedures properly .
Don’t store any items that are prohibited by the storage facility so you don’t get charged unexpectedly.
Bring your own padlock where possible so you don’t have to buy a high-price lock on-site.
Affordable Storage With No Hidden Fees With The Box Co.
At The Box Co., our prices are always totally transparent.
We offer affordable, flexible storage with transport included from just £3.56 per month, whatever your needs. From storage units to storage by-the-box, we always make sure to give our clients the best prices possible - with no hidden fees.
Contact us to get a quote today for free!
