Details of Self Storage
There are a lot of things that you have to consider when renting out a storage unit and one of these is the legal aspect of it. Renting out a self storage unit can be compared to renting out a house in terms of the legal issues associated with it. Read through to familiarise yourself with the important bits of legal details of renting a self storage unit that you need to know about.
Just like when renting out a house, there’s no insurance included with your purchase. Most of the time, you’ll have to look for an insurance company that can provide you with such services.
Read through the agreement or contract fully and make sure that you understand everything written there. If you have any questions or anything is a bit unclear for you, ask the manager about these things and let them explain. Know when the payment will be due every month and make sure that that is convenient for you. Know how much the late fees are and if there are any other fees that you might need to pay for.
The late fees
Late fees can be your number one enemy when renting out a storage space thus you better know everything about them. Know when you will be charged for a late fee and if there is any grace period.
The Standard operating Procedure
It is best for you to know what would happen in case you fail to pay your rent, what would be done to your unit and when you will need to evacuate the unit. Most of the time, when the renter does not respond to letters indicating that their payment is due for a couple of weeks, the owner will have to dispose their stuff at their own liking.