Buying vs Renting Storage Units: Which One is Better?

When you need to store furniture or general household items, the best place to do it is in a storage unit. A storage unit gives you somewhere safe, secure, and clean to store your belongings. Most storage units are situated in large industrial estates, with dedicated around-the-clock security. The dedicated security offered by storage facilities means there’s no chance of your things being tampered with or stolen.

You can either buy or rent a storage unit. If you are struggling to decide which option is right for you, then this post has you covered.

More Affordable

When it comes to storage units, it’s much more to buy one than it is to rent one. When you purchase storage units, you own them permanently. Other than ground rent (which contributes towards the facilities upkeep and security and is usually very minimal) you do not usually have to pay anything. With rent, however, you have to pay every single month and contribute to the ground rent. If you plan on using the storage unit for many years to come, then buying it is the most sensible decision you can make.

Ongoing Storage

As mentioned in the previous section, if you plan on using your unit for a long period of time, then it’s more sensible to buy it. The reason for this is that once you’ve purchased it (and set up a direct debit to pay ground rent) you don’t have to worry about anything anymore. You can turn up whenever you want and access your unit. Also, you can store things long-term. Long-term storage means you don’t have to worry about your belongings getting damaged, which they probably would if you packed them into a cupboard or into your garage.

Easy Access

When you own your unit, you will be given an access card. You will also be given an access card when you rent a unit, too. With this access card, you can access the facility that your unit is located in, whenever you want. Most storage facilities are open 24/7. This means that you can access it any time of day or night. That said, some facilities do restrict the hours that you can visit. Do your research before purchasing or leasing a unit, so you know when you are allowed to visit.

Family Use

One good thing about owning a storage unit is that you can then let other people use it. When you rent one, you are usually not allowed to do this. Most storage facilities get you to sign a contract, saying you won’t use it to store anybody’s belongings other than your own. Then, if you are found to be storing things for other people, you can get into a lot of trouble and even have your unit taken away. When you own a unit, nobody can tell you what to do with it. You can store other people’s things for them if you want to.

Climate Control

Another advantage of owning a unit is that when you own it, you are then usually allowed to set up electronics inside of it. The ability to set up electronics means that you can install climate control devices. That said, some indoor storage facilities already have climate control installed. It is very important to control the temperature and climate at which your belongings are stored because excessively high (or low) temperatures could damage your things. You may also want to install a dehumidifier, to prevent mold from growing inside your locker.

Losing Access

If you don’t pay your rent on time, then the facility that is leasing you the unit will be able to seize it, and everything inside of it. Most people are familiar with the Storage Wars television show (and for most people it was their first introduction to storage units). The concept of the Storage Wars show is that people bid over other people’s storage units after they have been seized. When you own a unit, this isn’t something that you have to worry about. Even if you are injured and fall into a coma for 50 years, when you wake up, your things will be there waiting for you.

Making Money

You can actually make money from owning a storage unit. As mentioned previously, when you rent one, you usually have to sign a contract declaring that you will not give anybody access to it or store other people’s belongings. When you own a unit though, there are no restrictions that can be imposed upon you (other than that you can’t live in your unit or sleep there). This means that you can then store other people’s things for them and charge them for them.

Storage Specifications

If you plan on buying (or renting) a storage unit, do your research first and find out what kind of unit you need. Rushing out and buying or renting a unit without first researching is a very bad idea. There are many different types of storage units that you can use. The most common type of storage unit is outdoor units, which are usually just garages, based in large industrial estates. You can also get indoor units, which are better if you are storing valuables. When you use indoor units, you benefit from greater security. It is almost impossible for people to break into, and steal from, indoor storage units.

Total Security

Whether you buy or rent a unit, you still benefit from security. While it is true that indoor units typically have better security, outdoor units still have dedicated security guards, too. However, before investing in a unit, take some time to do your research and find the one that has the best security. Investing in a unit with bad security can be very dangerous. If your unit isn’t secure, then anybody could turn up and steal from it. Make sure the unit has guards, dogs, and CCTV cameras as well.

A storage unit is a fantastic investment if you have expensive belongings that you want to secure. They can also be a great place for you to put the furniture that you want to keep but can no longer store at home. It is definitely a better idea to buy a storage unit than to rent one because you have more control over your unit when you buy it.