Storage for Business: How Much to Budget for Self-Storage

Helpfull advice for those who like to be accountable

When you’re running a business, every dollar counts. So, how much will a storage rental cost your company? You’ve probably realized that it is more cost efficient than additional office space. According to the online storage marketplace SpareFoot, the “national average monthly price for all unit sizes is $87.15 a month.” This is an average cost, so keep in mind that the price of your storage space will vary on size, location, and other factors.

If you’re thinking of renting a storage unit from a reliable facility, you’ll need to budget appropriately. Here are a few different factors that affect the rental cost.

Determinations of Storage Cost

  • Location – When renting a self-storage unit, the location of the facility is a big factor in determining the price. Those living in large urban areas may find that their facilities are more expensive due to high demand. If this is the case, consider renting a storage unit in a nearby suburb. Prices may be lower in less dense areas.
  • Time – The amount of time you rent the storage unit is another major factor in determining the price. In general, self-storage facilities tend to offer rentals on a month-to-month basis. Some even offer a certain month free as incentive. This flexible monthly pricing structure allows the customer to store their items temporarily without making a long term commitment. Contracts offered by full-service storage facilities vary from company to company. Some insist on a 3 month minimum, while others offer month-to-month services.
  • Size – The amount of items you have will determine how large of a storage unit is needed. Many self-service and full-service storage facilities offer storage units in various sizes to accommodate a wide-range of storage needs. Just remember that the larger the storage unit needed, the higher the monthly cost.

Other Contributing Cost Factors

  • Type – If you have high dollar items or equipment that you want to put in storage, you may want to choose a climate controlled unit over a traditional one. This will protect your equipment from extreme temperature and humidity. The extra cost of the storage unit could save you a lot of money in damaged equipment.
  • Level of Service – Generally, self-service storage facilities cost less than full-service storage facilities. This is to be expected given that full-service usually includes pick-up and delivery.
  • Extra Items – If you decide to purchase storage bins or packing supplies from the storage facility, your overall cost is going to increase. But these items are normally just a one-time cost and not a month consideration.
  • Insurance – Most storage facilities require customers to have insurance. For many customers, storage items can be covered by their business insurance. For those without insurance, the storage facility should be able to help you sign up with a storage insurance provider.If you are in the Jackson, Tennessee area and are looking for a storage solution for your business, contact Markham Self Storage. We offer all of the security features that you are looking for in a self-storage facility and have many different affordable storage unit sizes to fit your needs.
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