Prices (Continually) Rising on Self Storage

There are lots of ways to entice you to a self storage facility. You’re probably savvy enough to know that the introductory rate is only good for one or two months. In the fine print that you probably don’t read, however, is a small sentence that tells you that rent can go up. And go up it does. It’s actually part of the business model for many self storage companies.

We hear it all the time. “My self storage building started out at a good price, but a couple times a year, they increased my rates.”

These are actually screenshots (redacted) from texts acknowledging receipt of payment for one 10×20 storage unit in North Carolina. The first payment was only $24, although they were quite clear that the first regular monthly price was $214. But after three payments, the price went up to $237. After eight more payments, the price increased to $274! It went up again after nine months. In less than two years, the price went up 43% to $307. The rent is $3687 per year! The clincher is that a new renter is still charged $237 – for the same unit type and size. And yes, we called to check.

By contrast, at Hometown Sheds a one-time investment of $3687 will purchase a 8X12 wooden or metal shed, or for a similar monthly payment you could rent to own up to a 12X24 barn!

Don’t get caught up in the self storage racket. Invest in your own storage unit. It will increase the value of your property, can be moved, and will last. You’ll save a lot of money over time.