10 Reasons Storage Units are a Waste of Money

storage unit

When it comes to storage units, many people are simply throwing away their hard earned money. There aren’t many legitimate reasons that someone truly needs one. Unless you’re renting a storage unit for a specific reason with a set time period (for example, you’re moving and there is a three month time gap before you can move into a new place), you’re likely wasting a whole lot of money. This is especially true if you have a storage unit because you just don’t have enough room in your current home. Sound familiar? Below are 10 reasons that storage units are a waste of money for most people.

Storing Clutter

Most people rent or buy storage units because they have

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5 Responses to 10 Reasons Storage Units are a Waste of Money

  1. On the other hand, I have heard you can find some pretty awesome stuff at auctions held by storage unit owning companies whose clients have just walked away from their “stuff”.

  2. Jay says:

    One of the “sneaky” ways storage facilities get you is by not issuing a monthly bill
    Obviously one should always keep on top of their bills, but not billing renters seems underhanded and designed to increase their profits.
    You are so right that if you can’t use something, chances are it’d be much cheaper to sell and buy again when *AND IF* you need later rather than paying for a rental unit.

  3. bben says:

    I have rarely used storage, and then for short periods when hunting a new place to live, When moving a business across town and after a fire. The longest was 4 months.

    It’s been over 10 years since I rented storage so some things may have changed.

    Other recommendations –
    Find a smaller independent rather than a chain company. They can be easier to work with if you miss a payment. Check with other renters first though as they could be worse. Remember that it is a business, and they have bills to pay also.

    You pay extra for a place with 24 hour access. The local I used the gates were open from 8AM to 8PM. But office hours were 8 to 6 only.

    If they are not full – look at the locks on the doors to see, you can usually negotiate a better deal.

    They did have a drop box for checks, They did take credit card payments and could do a long term with money up front. There was a discount of you paid 3 months at a time, with a bigger discount for paying more – 6 months or a year up front.

    They did offer a significant discount to active duty military, but wanted 3 months up front for a deployment over 6 months.

    You can get insurance, but it’s not cheap. Many rental places offer it – for a little extra every month.

    They did not send a monthly bill. But did send a late notice and tacked on extra for a late fee – on my 10×10 the late fee would be $3, which I thought was reasonable.

  4. Gail says:

    I knew a guy that paid truck space to haul a bunch of junk to aother state where it was promptly put into the garage to mellow for the next 4 years and then put into storage when he moved on. I have no idea the eventual disposition of his stuff, but considering at one point he was basically living in his truck rig becuase he couldn’t afford his own place, you can probably guess what happened. Just this one thing was indicative of his entire financial life.

  5. kim says:

    Why I got a storage unit and why it’s the best solution for me.

    I live in Houston Texas. Land of no basements, no attics. Homeowners associations that won’t let you put up a shed. Land of concrete slabs. I am not a hoarder.

    I own a small three bedroom home in Katy, Texas. It’s paid for. I rent out the small 2 bedrooms and bath to a roommate for 400 a month. (The roommate suite). This pays for the property taxes, insurance and miscellaneous annual expenses related to the house.

    In my “paid for” home, this leaves the remaining master bedroom/bath, the living area, and the kitchen – essentially a one bedroom apartment, for my space.

    Clutter drives me crazy.

    The garage is full of tools and garden implements. There is no room in this house for SCA/renaissance faire stuff and equipment, Christmas stuff, Christmas tree, seasonal clothes and seasonal stuff, home decorations rotated out/in, and furniture that is used to furnish the rented rooms if the current roommate doesn’t need the furniture. I store my sewing, craft stuff, and fabric there. I am in the unit at least once a week to pull stuff or to return stuff.

    I consider the room “moving prevention”. The house is paid for. Why move? I consider the 120 a month or 1200 a year a worthwhile cost in keeping my home neat and clutter free. I consider it my craft room.

    — and it is wonderful not to trip over stuff in the garage. totally worth it.

    There is a lot of shame “out there” associated with needed to rent storage space. I’m not going to buy into this. I am glad I did it.

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