What are the hidden costs of a storage facility to know?
A storage facility is becoming popular in different parts of the world because it offers both short-term and long-term storage solutions. On the other hand, the costs of a storage facility in a location may vary depending on several factors. Several facilities provide services to customers with a fee structure. However, many customers are not aware of the hidden costs of a storage facility carefully because they may lead to additional expenses. Evaluating the hidden costs enables customers to save money when renting a unit.
7 hidden costs to know in storage rentals
- Administration fee
Some storage facilities charge administration fees to complete the initial agreement. They collect the fees when customers rent a unit for a minimum of one month or more. Therefore, customers should ask a company whether it charges an administration fee or not. This will help to avoid high costs in the rental process.
- Cleaning fee
Many self-storage units will charge a cleaning fee, which is refundable at the end of the storage period. At the same time, customers should hand over the facility to a company in a clean condition to get a refund.
- Monthly insurance fee
Several storage facilities require customers to pay the monthly insurance fee, which might result in an additional burden. Although insurance is necessary to protect the belongings, one should pay more money or allocate funds for the monthly insurance fee. Hence, customers need to ask for the complete details while renting a unit.
- Security fee
Like a security deposit, a security fee is payable upfront and is refundable to customers when they move out of a storage unit. It varies depending on the size of the storage unit.
- After-hours access fee
A self-storage unit may charge an after-hours access fee when customers lose their keys. One should check whether it is included in storage unit prices or not. By doing this, customers can avoid the fee which will minimize expenses considerably.
- Late payment fee
Customers should make their payments on time to avoid late fees because some units will charge the fee, which will vary in a location.
- Reservation fee
Some storage facilities charge a reservation fee when customers reserve a unit when the demand is high and there is limited availability. Evaluating the reservation fee and other fees lets customers rent a facility at the best prices which helps save money.