If you're looking to get as much additional storage space as you can for as cheaply as possible, you can negotiate the rental rate at some self storage facilities if you speak to the manager or the owner. To do so, you must have a firm grasp of what the going rate for storage units in your local area is and also how to negotiate properly. Here are three tips that might give you an edge in the negotiations.
Lock in a Better Rate With a Longer Term Contract
In most cases, the self storage facilities are much more willing to work with you if they know that you're going to be a long term client rather than a short term client. Approximately 36% of renters rent their units for anywhere from 3 to 12 months and approximately 30% of renters will keep the space for over 2 years. If you're willing to commit to a longer rental term, you'll have an edge in the negotiation, and the self storage facility owners will be much more willing to cut you a deal. If you're signing a long-term contract, look at the terms and conditions of the rental contract to determine whether there are any fees or penalties for terminating the contract early.
Look for Group Discounts or Referral Fees From Your Work or Organization
When looking for a self storage facility to rent a unit from, ask around at your work or at any other organization that you're a part of to determine whether they are associated with a self storage facility. If they are, you're likely going to get a better rate if you sign up through your work or through the organization. If neither your work nor any organizations that you're a part of is associated with a self storage facility, ask around to see whether you have any family members or friends who are looking to rent a unit as well. If you approach the self storage facility as a group, you might be able to get a group discount.
Know What the Going Rate Is for Various Units at Different Facilities
While negotiating with the manager or the owner, you must first know what the going rate for the various units is at other facilities. In general, you can expect a 5-by-5-foot unit to cost $40 to $50 per month and a 10-by-15-foot unit to cost approximately $75 to $140 per month. You should also shop around to see whether other facilities are offering a promotion or a discount to first time renters. Having a keen grasp on the market can give you the edge that you need to impress the manager or the owner.
Don't settle for the first rate that you are given. More often than not, you can negotiate a better rental rate or rental terms if you know what the going rate on the market is. Ask for a meeting with the manager or the owner and do your research ahead of time. If you have more questions, talk to facilities like South Town Storage in your area.
