Self storage contracts – everything you need to know
In the self storage industry, the contract or licence agreement serves as a legal agreement between the facility and the storer. When you plan to rent a storage unit, it’s essential that you thoroughly understand the storage contract. The contract must contain all of the necessary details that you should know within your hire period. Here is a simple outline of the key features to help you understand everything you need to know about self storage contracts.
Your self storage contract will detail your payment terms. This should include the following:
- The amount – the contract must outline the amount of your rent, your due date, and the amount of any security deposit held.
- Late payment conditions – the contract must detail the late payment conditions such as when exactly a payment is considered late (number of days) and the fees for such a situation.
- Other fees – any additional fees that may be added to your account must also be stated in the contract.
Self storage facilities have their own rules on how the storers must use the unit. This typically includes provisions on the following:
- Items in storage – usually to store everyday household items or business goods. Contracts will detail a list of things that you can’t store. These typically includes items that are flammable, firearms, explosives, chemicals, illegal items, animals, food, and lots more.
- Cleanliness – it is the responsibility of the storer to keep the storage unit clean and in good condition. Any damage or cleaning incurred would be charged for and deducted from any monies to be returned such as a deposit.
Your storage facility’s rights
The contract should detail the rights of the storage facility. This can include the circumstances for when a member of staff can break and enter the storage unit. Moreover, it should also contain information on when the unit can be over-locked and access be denied.
Details about contract termination must be clearly stated in the contract. There will be a notice for which you must serve when ending the storage agreement. This is typically 14 days or one month. There are also some instances when the storage facility can terminate the contract at any time.
When hiring a self storage unit, you should never agree to anything with no written contract. It is essential that you familiarise yourself with all of the details in your storage contract. Make sure to read them thoroughly before you sign.