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7 Factors That Affect Self-Storage PricesThe prices of Self-Storage facilities vary. It can cost from a few pounds a week to hundreds of pounds. This is because of several factors like size, location, amenities, etc. Storage facilities are also more expensive the closer it is to the city. Just like real estate, the price of storage prices goes up the more populated the area is. It’s simple economics. The higher the demand for space, the higher its value. For example, a self-storage unit in London is far more expensive than a self-storage unit in, Argyllshire or Kent. Similarly, housing is also more expensive in London than in the countryside. One common mistake that most tenants make is getting a storage facility that is too frivolous or too big for them. The main reason for renting out self-storage facilities is because tenants are downsizing to a smaller home to save rent. It would then be counterintuitive if you lose the money you just saved on a storage facility with majority of the space filled just by air. You want to avoid losing money as much as possible. The best way to do that is to keep yourself informed and research about what affects storage prices. Read through this article so you can make an informed decision.
Here are Seven Factors that Affect Self-Storage Prices
SizeThe most common mistake that tenants get is by renting out a storage facility that is too big for their needs. The ideal storage unit should be the right size for you — not too big and not too small. Renting out a storage unit that’s too big will cost you way too much money. Another mistake that tenants make is getting a storage unit that is too small. Despite being cheap and costs only a few pounds, a small storage unit beats the purpose of renting one in the first place. If you can’t fit all the items that you want to store then what was the point of getting one? We recommend organising the stuff that you will store so you can optimise the space that you have. Disassemble your furniture to save space and to keep them safe. Check out our storage unit size guide for more information. Storage facilities varies from 25 sq. ft. to 320 sq. ft. As a guide, 25 square feet unit can fit the contents of a home closet. Items like an extra mattress and boxes filled with old clothes, books, etc. can also fit. On the other hand, a 320 square feet unit is ideal for storing all the content of a five to six bedroom house. It holds 760 medium-sized boxes or the equivalent load of 12 Transit vans.
LocationLocation is an important factor that you want to consider when getting a storage unit. It is also one factor that drives the price up or down. The closer your unit is to residential areas or the city, the pricier it would get. The logic is that the price of real estate is more expensive in cities than in the outskirts. Prices in big cities will be far more expensive than in small towns. The price for a small storage unit in London or Manchester may as easily pay for a large storage unit in the countryside. We recommend getting a storage unit that is closer to you only if you will store items that you will need on a regular basis. If not, then consider a location an hour or two drive away from your place. It’s guaranteed to be far cheaper.
PopulationThe more people there are in an area, the more expensive real estate becomes. That is because the demand for space is high. Student populations in the area can also affect storage prices. Student towns like Sheffield, for example, have higher prices compared to non-student towns like Arbroath. This is because there is not much competition over the storage units. Think of self-storage facilities like real estate. Overpopulated areas tend to have higher rent prices as compared to less condensed ones. Ironically, it is the overpopulated cities and towns that rent out storage units more as they are the ones who are downsizing often. If you’re a student moving for Uni, check out our Ultimate Student Moving Checklist.
Type of Unit (Indoor or Outdoor)There are two types of storage units — indoor or outdoor. The prices of self-storage facilities will vary depending on what you choose. Outdoor access facilities allow you to drive-up and access your storage units from the outside, and then there are indoor storage facilities that can only be accessed from the inside of the premises. Outdoor access units are a convenient option as you are able to access them from the outside and they’re more affordable when compared to Indoor storage. Outdoor units are usually in the form of a container storage. However, this option won’t give you access to extras like climate control. Indoor storage units are a more secure option and come with the added benefit of climate control and other perks. However, they’re only accessible from the inside, and your unit may even be housed in a distant area of the warehouse that requires elevator access, making it a tad bit challenging to move your stuff in and out of the facility. For more information about the types of storage units, click here.
AmenitiesStorage units comes with different amenities for your security and the safety of your items. A climate controlled storage is required if you’re storing wooden furniture and clothing. This saves them from humidity damage and mould. Check out this guide in moving wooden and mirrored furniture. A CCTV camera on your unit will also put your mind at ease of theft and damage. These are just some amenities that go with a storage facility. However, they can drive the rent up for a few more pounds. Make sure that you get only what you need and nothing more.
24/7 AccessibilityIf you’re storing items that you will need regularly and might need at any time of the day, it would be best for you to get a storage facility that provides 24/7 access. The pricing may be higher but this ensures that you can take out your items at any time you want. Ask yourself if you really need this feature. Items like old furniture, books, and apparel can be stored in a farther location that is open only on business hours as it won’t be an urgent matter should you need them one day. However, if you are storing bottles of wine, cooking equipment, and items that you use on a regular basis outside of business hours, then getting a storage unit that is open 24/7 might be more beneficial. The goal of a storage unit is to provide you with convenience. If it stresses you out then you might as well not have gotten one.
Duration of StayThe length or duration of stay can be a factor for the amount of rent you have to pay. Often, companies are happy to give you a discount if you’re staying with them for a long period of time. A shorter amount gets you a higher price. Just like in retail and wholesale, the more you avail the service, the cheaper it would become. This is also done by companies to establish rapport and ensure that you don’t take your business elsewhere. Whatever storage facility you need, WhatStorage will provide you with the best deal possible. As the largest online listing of storage facilities in the UK, we guarantee that you will find a storage facility that is best suited for you.
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