Is a Self Storage Lease Transfer Possible?For whatever reason, you’ve rented a self storage unit and to make it more affordable, signed a long lease. Generally, self storage facilities rent units over a two to six month period. But longer contracts are sometimes available and renters receive a good discount. But even if you sign up for three months with the first being free and circumstances change, you might need to get out of the lease sooner than it is scheduled to end.
Storage auctions occur when a tenant fails to pay their bill on time (this is also called being “delinquent”). According to a state’s lien laws, the facility must sell the contents of that unit in a public auction to make up for lost rent. Storage auctions are held on predetermined days, and auction attendees do not know the exact contents of the unit. Don’t believe what you see on Storage Wars, however—auctions are rarely as exciting as they appear on TV, and storage facilities only hold them as a last resort. —SpareFootPerhaps you’re storing furniture from a rental home clean out and now are selling the property. No matter the reason for your motivation, you need to be free of this self storage lease contract and fast. That’s typically a tall order because the contracts weigh heavily in favor of the storage facility. This is done for legal and insurance reasons. So, your options are few but that doesn’t necessarily mean you’re stuck. Usually a self storage lease transfer isn’t permissible. But, there are options available to you:
- Empty it immediately. The single best way to be free of a self storage lease is to empty the unit out immediately and simply wait out the contract. You can always inquire about ending the lease early but that might cost you extra fees.
- Go month-to-month. If you have a six month or year-long contract (which are rare), you can ask to go month-to-month instead so you are stuck in a long-term commitment expense. Most storage companies do offer a month-to-month option — although it’s generally more expensive.
- Share the space. Another alternative is to share the storage space with someone else and split the expenses. This is a great option if you need some extra space but want to save on the cost. Plus, it can help out someone you know and be mutually beneficial.
- Have it cleaned out. If you are in a hurry and want to end the contract immediately, hire a self storage clean out service. This way, the unit will be emptied out quickly so you can move on and not have to deal with it any longer.