When considering renting a storage unit in the UK, cost is a significant factor for most people.

Storage prices can vary depending on several factors such as location, size, and the length of the rental term.

This article explores the typical monthly costs associated with storage units across the UK, the value of using such facilities, and some essential considerations like security and legal implications of non-payment.

How Much Should I Pay for Storage in the UK?

The monthly cost of renting a storage unit in the UK can vary greatly based on its location and size.

For example, storage costs in London are typically higher than in other parts of the country due to higher demand and real estate prices.

Here’s a rough breakdown of average monthly costs based on regions and unit sizes, according to Hold Self-Storage.

• London: £83.30 for a 25 sq. ft. unit to £254.12 for a 75 sq. ft. unit.
• The North: £43.84 for a 25 sq. ft. unit to £131.30 for a 75 sq. ft. unit.
• Scotland: £48.64 for a 25 sq. ft. unit to £148.95 for a 75 sq. ft. unit.
• West Midlands & Wales: £39.12 for a 25 sq. ft. unit to £118.12 for a 75 sq. ft. unit.
• South East (excluding London): £59.30 for a 25 sq. ft. unit to £181.00 for a 75 sq. ft. unit.

These prices are indicative and can fluctuate based on the specific amenities offered by the storage facility and the duration of the rental agreement.

They can also fluctuate depending on whether a company operates on a whole unit rental system or one that allows for Storage-by-the-box.

These type of rental agreements allow you to maximise space and only pay for what you use, so using companies that operate in this way (Like The Box Co.) is a great way to save money!

How Much Is It to Rent a Storage Container In The UK?

Renting a storage container in the UK typically involves a monthly fee that varies by location and the size of the container. Or, if you're going for a storage-by-the-box model, it will depend on how many items you have to store.

Monthly rental costs for a standard container might range from approximately £60 to £190 depending on the container’s size and the facility's location, as well as the company you opt for. 

As with smaller units, the prices are higher near city centres and in economically affluent regions like London.

One way to get around this is to look for companies like The Box Co. that offer pick up and delivery. That will allow you to take advantage of more streamlined prices as you won't pay for premium real estate.

Another thing to consider is what is included in the payment. Be wary of companies with tons of add-ons such as insurance as these can typically boost the cost significantly. 

Is Paying For Storage Worth It?

The worth of paying for storage depends on personal circumstances.

For those who are moving, renovating, or simply lack sufficient space at home, storage units offer a flexible solution to keep possessions safe and organised.

Additionally, businesses frequently use storage for inventory or equipment, which can be more cost-effective than expanding physical business spaces.

The key is to assess the cost against the convenience and necessity of the storage. But you can generally get a good deal if you shop around!

Is It Safe To Store Money In A Storage Unit?

Storing money in a storage unit is not recommended. Although modern storage facilities are equipped with security measures like CCTV, alarms, and secure locks, they are not designed for storing cash or high-value items prone to theft.

For such assets, a bank safe deposit box or a professionally installed safe in your home are safer alternatives.

In general, it's always worth checking what your storage insurance covers, just to make sure you're ok if anything did go missing.

What Happens If You Stop Paying For Storage?

Failing to pay for a storage unit can lead to problems. Most storage facilities have specific terms and conditions that allow them to lock the unit to prevent access until payment is made.

If payments are not resumed, the contents of the storage unit may eventually be sold off at auction to recover the owed money.

It’s important to communicate with the storage provider if you foresee payment issues to avoid losing possession of your stored items.

What Size Storage Unit Is Most Rented?

The most commonly rented storage unit size tends to be around 50 sq. ft., which offer adequate space for the contents of a one-bedroom apartment.

This size is a practical choice for most personal storage needs, including furniture, boxes, and other household items. It strikes a balance between affordability and space, making it a popular choice for both short-term and long-term storage solutions.

However, remember to assess your items to see what size would be best for you. The bigger the container, the more you pay, so make sure you optimise this as much as possible.

Conclusion

In conclusion, the cost of storage per month in the UK varies based on several factors.

Understanding these can help you make an informed decision about whether renting a storage unit suits your needs and how to do so effectively and securely.