5 Situations When Self-Storage Can Come in Handy

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Self storage addresses some very real needs, especially now, whether we’re talking about individual renters or businesses.  The industry’s key demands are most often associated with major life events, including moving and relocation, downsizing, change in household size (divorce, marriage, new baby) and commercial storage. And it can come in assistance during critical moments, like the current coronavirus pandemic.

When thousands of college students were forced to leave dorms this spring, self storage allowed them to leave their possessions in a safe place and travel home light. Restaurant and retail businesses have also benefitted from using self storage: In order to comply with social distancing regulations, these businesses needed a safe place to temporarily store extra tables and chairs.

But when is self storage the most useful? We’ve asked a group of self storage customers to share their experiences and, as it turns out, the industry can help in so many ways. Here are five reasons why getting a self storage unit might be a great idea:

1. Providing that little bit of extra space that renters need

Renting a home in a big city often comes with a lack of storage space – even more so when sharing your space with a roommate. A storage unit can play the role of a large closet, where you can keep seasonal clothing, sport equipment, linens for guests and other items you don’t use on daily basis, but still need.

The last time I used self storage in Philadelphia, was when I was a renter there,” said Lou Haverty from Financial Analyst Insider. “I was living in the city in a small row and renting a room in a larger house.  Because I really didn’t have much extra space, it made self storage a really good option,” he added.

Self storage can also help renters save money, as it’s generally more affordable to get a unit than it is to move into a larger home.  “Because I was only renting a room at the time, I was saving a lot of money on rent and it was very easy to justify paying a little extra money for storage. I found the overall cost to be very reasonable,” concluded Haverty.

2. Getting homeowners through remodeling and decluttering

Some houses don’t have a basement or attic, or those rooms need to be used for purposes other than storing. Garages are rarely big enough to contain all the tools needed in an average household, on top of cars and sports equipment. Self storage extends a house’s storage capacity, allowing homeowners to enjoy both uncluttered interiors and the security of their possessions in a safe, accessible place.

I rent a self-storage in Phoenix, AZ, and I get enormous value from it,” said Jeneva Aaron with Housewire, on the advantages of renting. “I don’t have a basement or garage in my house, but I have a lot of tools and lawn equipment, so I keep most of that stuff in my storage unit. It’s only five minutes from my home, so I don’t have to pay much in gas money to go fetch things from my unit, and it’s open twenty-four hours, so I can get whatever I need at any time.”

Remodeling is another situation where homeowners can benefit from using self storage. “I rented a storage unit in Austin, TX when our basement was being remodeled,” explained Dan Bailey, president of WikiLawn Lawn Care. “We had some bad flooding unfortunately and while a lot of things weren’t salvageable, we were able to recover some things. Once they dried out, we put them into storage so work could be done to fix the damage caused by the flood.

3. Offering digital nomads a safe place for their valuables

Digital nomads are oftentimes envied for their exciting lifestyle – traveling the world and working from amazing places. However, one of the downsides of being a nomadic traveler is the lack of a permanent place where to keep prized possessions.

It doesn’t make much sense to pay for an entire apartment you don’t actually live in, just for somewhere to keep your belongings. Asking family and friends to store your stuff can be an imposition, and you don’t want to worry about that during your adventure.  “As nomadic travelers, my husband and I decided to get a small storage unit near Denver, CO, our last home, to keep outdoor gear, personal mementos, and other items it would be impractical to bring with us,” shared Brooke Baum, full-time traveler and blogger at TrailingAway.com. “We pay about $40 per month for our storage unit, the smallest available, and feel it has been worth it to know our belongings are safe and not in the way at a loved one’s home,” she concluded.

4. Helping people downsize and move

Moving is chaotic, expensive and exhausting, so it’s no wonder people are always trying to make the process easier. When moving long distance, a great option is to ship things ahead of time to a storage unit in your city of destination, making the actual moving day much more manageable. Self storage can also help during local moves ––Your new place might need a deep clean or a fresh coat of paint, in which case it’s helpful to be able to keep some furniture, appliances and other belongings in a storage unit until your home is 100% ready.

When moving involves downsizing, self storage becomes even more important: “I moved into an apartment after living in a larger house, so all of my furniture did not fit into my apartment,” explained Imani Francies of ExpertInsuranceReviews.com. “My personal property coverage did not extend towards the detached storage unit my complex offered for lease, so I placed my furniture into a storage unit where I could purchase insurance for the stuff.”

5. Supporting businesses through reliable and affordable services

Most businesses, big or small, have plenty of things to store, from documents to furniture, tools or equipment. Self storage is an easy alternative to renting more office space or expensive warehouse storage. “We rent self storage as a company in California, and it has been very useful to us in the past few years,” explained Ethan Taub, CEO of Loanry.  “It has allowed for us to have our documentation that is archived, somewhere safe, where it can be looked at whenever needed. And it doesn’t clog up the office either, bonus! I think that the cost of self storage is very reasonable, especially for the space that you get.”

The current coronavirus social distancing guidelines have created even more storage needs, particularly for small businesses. Restaurants, coffee shops, and hair salons have had to re-structure their spaces to ensure customers are able to follow social distancing. As a result, many businesses have ended up with furniture and equipment they can’t use until we get through this tough time. For the near future, self storage is a good option for them––self storage facilities allow month-to-month renting, so businesses can end their contracts when needed, at no extra cost.

What other reasons do you have for renting self storage? Let us know in the comments!

 

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Maria Gatea

Maria Gatea is a Senior Editor & Research Writer for Yardi with a background in Journalism and Communication. After covering business and finance-related topics as a freelance writer for 15 years, she is now focusing on researching and writing about the real estate industry. You may contact Maria via email.

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