About Self Storage Unit Lease TransfersSo, you’ve rented some storage space. And now, for whatever reason, want to get out of the lease. If you signed up for a short-term lease that goes month-to-month, that’s not a big issue. Just wait it out, empty the storage unit, and you’re good to go. But, if you’ve signed a longer self storage lease, you’re going to need to do a little more to be free. The truth is, self storage agreements are great for short periods.
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. —SpareFootBut, self storage leases can easily be a financial burden. This is particularly true if you signed a longer term lease to cut down on the overall cost. What you should know upfront is that there’s likely few options available. That’s because self storage facilities have legal obligations and considerations.
Self Storage Unit Lease Transfer AlternativesIf you’re looking into the possibility of a self storage unit lease transfer, you’ll probably discover this isn’t a viable option. Typically, storage companies prohibit putting the lease into another person’s name. But, this isn’t to say you do not have options. Here are a few helpful self storage unit lease transfer alternatives you can try:
- Empty it. One alternative is to simply empty out the storage space. Sweep it out and clean it. Then, wait out the lease. You can always inquire about ending the lease early. But, this might well mean you’ll have extra out-of-pocket expenses.
- Try month-to-month. Another alternative (if you still need the space temporarily) is to switch to a month-to-month lease. Phone or visit the storage company to learn if this option is indeed available. If so, try it out.
- Share space with a friend. You can also ask someone if they will split the space and hence, the cost. This benefits both of you. Plus, it gives you a little incentive to pare down on your stored possessions. Keep in mind, with this option, you’re still the responsible party in regard to the lease.
- Get a storage unit clean out service. Call a junk removal service to come in and haul away what you don’t want to keep or don’t use. If you go this route, you’ll be free of a lot of stuff and might not need to pay for extra storage space.