3 Rental Clauses to Pay Attention to When Renting a Long-Term Storage Unit
Many Australians are downsizing due to rising housing costs. With much less space in their homes to store their items and personal belongings, most Australians are choosing to rent a unit in one of the 1,200 storage facilities spread across the country. Before renting a storage unit out for yourself, scrutinize the rental contract and pay attention to the terms and conditions, along with the clauses, that are outlined. Specifically, pay attention to the following 3 rental clauses.
Contract Term and Penalties Incurred from Breaking the Contract Early
When renting a storage unit for long-term purposes, it's usually a good idea to sign a term contract with the storage facility, as they'll be able to give you better rates once you lock down to a longer term. With that in mind, the rental term is usually set in stone and you're responsible for paying rent for the entire contract term. If you want to break the contract early, you might be held responsible for paying certain penalties. Look over the contract to confirm that the penalties are reasonable before signing the contract.
Terms Related to Ability to Downgrade or Upgrade Based on Changing Needs
The reasons behind why you need a long-term storage unit will change, and you're either going to accumulate more items throughout the years or you might find yourself donating a lot of stuff that you no longer need. Find a storage facility that understands that circumstances change and that has included relatively flexible terms in the contract allowing you to upgrade or downgrade rental space with ease.
Terms Related to Fees and Whether They Are Fixed for A Set Amount of Years
Much like rent for housing, the rental fee charged by storage facilities are subject to increases throughout the years. Just because you're happy with the rental fee now, it doesn't necessarily mean that you might be happy with any increases in the future. Confirm that the rental fee is set in stone for the length of your contract. If not, verify that the rental contract is specific on the amount of increase you can expect to see as the years go by.
Conclusion
Various storage facilities have unique rental contracts and policies. When looking around for a storage facility that suits your needs and can store all of your stuff, a look at the rental contract can give you all of the information that you need to make the right decision.