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Renting A Storage Unit? 4 Ways You Could Be Saving Money

by Ted Davidson

While you may appreciate having a storage unit to help organize and keep your belongings stored away when they are not needed, it may not fit into your budget any longer. If you want to keep the storage unit but want to reduce the costs involved, it may be in your best interest to look into how you can save money without switching from the facility you rent at.

The following four ideas may all lead to savings on your storage unit, allowing you continue enjoying the additional storage space at a lower cost.

Check if Rates Go Down for Signing a Contract

Some storage facilities allow their customers to sign a contract for a set number of months, and in return their monthly rates are reduced. This can be a good option if you are absolutely sure that you want to continue renting the storage unit for another six months or however long the contract states.

The contract could also include money-saving options such as paying in full or setting up auto-pay.

Consider Downsizing to a Smaller Storage Unit

If you are paying more than you are comfortable with and the unit is not entirely full, it may be in your best interest to downsize to a smaller storage unit. By switching to a smaller storage unit, you could be saving a lot of money each month without giving up on the storage entirely. You may need to sell or donate some items in order to switch to a smaller storage unit comfortably, but the savings can be worth it.

Talk About Sharing the Unit with Friends or Family

If switching storage units is not an option, but you are stuck with a larger unit then you need, it is a smart idea to share the unit with somebody you trust. Checking if any of your friends or family need a storage unit can allow you to share the costs and the space.

Get Insured Elsewhere, If Possible

While some self-storage facilities offer insurance for their units, it may be expensive and not as comprehensive as elsewhere. For example, some storage facilities charge $5 per month for $1000 of coverage. Checking with the insurance company that you use for your home or car can help you discover if they offer insurance for storage units as well.

Renting a storage unit comes with a number of great benefits, but it can be costly if you are trying to cut down on additional living expenses with a new budget. With some of the ideas above, you can reduce the cost of renting self storage units, while still having valuable space you can use.