What to Know about Self Storage Unit Lease TransfersIn most cases, the vast majority, self storage lease contracts place big restrictions or outright prohibitions on transfers. But, if you’re bent on a self storage unit lease transfer, there are things you can do.
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. —SpareFoot.comFor 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.
Self Storage Unit Lease Transfer AlternativesTypically these 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. So, here’s what you need to know about a self storage unit lease transfer and what you can do:
- Empty it immediately. One option is to act preemptively. Clear it out and then wait for the contract to expire or for the next renewal cycle. You can always inquire about ending the lease early but that might cost you extra fees.
- Have it cleaned out. If you really don’t have the time to empty it out on your own, call a local storage unit clean out service to do it for you. This way, the unit will be emptied out quickly so you can move on and not have to deal with it any longer.
- 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. This may or may not be an option, so check on availability and any other alternative scenarios.