How Much Does Renting A Storage Unit In Sydney Cost?

Sydney Self-storage units are increasingly becoming very popular with businesses and households owing to their cost-effective nature and flexible lease agreements.

That’s why it is necessary that just about every other person familiarize himself with the twin issues of the cost of renting one and the cost of purchasing one.

The cost for which a storage unit may be rented is dependent upon several factors. The most outstanding of these factors are explained in details in the discussions below:

Companies

Different companies have varying pricing regimes and financial strengths. Start-up companies will usually offer lower prices as an incentive to attract new customers.

Most companies will usually offer promos, special discounts, and other incentives from time to time to among others, attract new clients and solidify their grip on the market.

It is, therefore, necessary for those seeking to rent storage space to survey several firms/companies before deciding which one to work with.

Location

The ultimate choice of which storage space to eventually opt for is largely determined by its precise location. No matter how much a storage unit may be of high quality or have lots to offer to clients, it won’t help much if it is not located in the area or precise locale where the would-be client intends to store his belongings.

The onus is therefore upon the prospective client to carry out a study regarding the various storage facilities located in his preferred geographical scope/area.

Time of the Year

Business cycles come and go. During low seasons, self-storage companies will usually tend to lower their prices and even offer hot discounts and special promos as a way of enticing prospective clients to place orders.

They may also offer bonuses, free upgrades, and extra features for lower prices. A wise client may want to take advantage of these extraordinary circumstances in order to pay as less as possible.

Size

This refers to the amount of space that a client is in need of. Spaces vary greatly in response to the unique needs of each client and on the number of items that is intended to be stored. Generally, the smallest space measures 5 feet by 5 feet whereas the largest space measures 20 feet by 20 feet.

It goes without saying, that the larger the amount of space the costlier the rent and vice versa. Each prospective client ought to ascertain his own space needs first before embarking on the process of finding a suitable rental space.

Facilities Provided

Different storage facilities have different facilities. Some are climate controlled i.e. are insulated from the elements of external environmental conditions such as humidity or excessive heat; some are heated; some are cooled by way of air conditioners; whereas others lack any of those features.

Some companies have staffs that man their premises while others have electronic key card access. As a general rule, the more equipped/staffed the storage facilities are, the more expensive they are and vice versa.

Nature of the Items to be Stored

Perishable commodities such as food and medicine require very secure, waterproof, and air-conditioned premises whereas durable ones such as furniture and hardware require none of those features/facilities.

Inflammable materials or those that are potentially dangerous such as gas cylinders, kerosene stoves or paraffin also require added security.

Insurance

Some items have to be insured while in store. Insurance premiums cost around $10-$20 a month.

Also, in cases where padlocks are not provided, users will have to part with a further $20 to purchase one. All these have the impact of inflating the overall rental costs.

The Best Way To Purchase A Self Storage Unit Business

Just like the ordinary property markets, the field of self storage in Sydneyis also vulnerable to foreclosures and mortgage meltdowns. It is therefore imperative to exercise great caution before eventually making a final purchase. The tips below may offer a valuable starting point:

Recessions

Moments of recessions are probably the most suitable to make a purchase. This is because fewer people are willing and ready to buy, the prices of commodities are generally low, and the buyers are willing to part with less in exchange for their merchandise.

You will thus most likely spend less than what you would have spent had you bought/acquired it under normal circumstances.

Lowest Bids

In most cases, such pieces of property are usually disposed of by way of bids with the person who offers the highest bid being the one to assume the ownership of the premise. A great deal of tack is necessary here. It is strongly recommended that the lowest bid be placed such that the final buying price is lower than the maximum bid. It is only in this way that great deal for money may be obtained.

Lien Search

Lien is the right that is granted to a person or entity to take possession/custody of an item that belongs to another person till the debt that is owed by the owner is finally settled.

In case such a piece of property is passed on to a third party, the third party is automatically held liable for the said liability henceforth. It is therefore imperative that prospective buyers conduct thorough financial background of the storage facility before deciding to make a purchase eventually.

Comparisons

At any given time, there is usually more than one seller. To obtain the best deal, and spend as little amount of money as possible, the prospective buyer ought to compare and contrasts the various storage facilities on offer by the different sellers, together with their costs, and other facilities before deciding which one to buy.

Caution

In general, buying any piece of property requires great caution, since the amounts of money involved are usually way too high. For this to happen, a great deal of research is needed, primarily via the internet. Additionally, expert advice may also be sought as do the various “For Sale” signs that may dot a typical neighbourhood.

Conclusion

It is clearly deducible from the foregoing discussions that the intervention of an expert is, by all means, necessary in case this murky water of renting or purchasing storage spaces is to be navigated effectively.

We are currently serving Sydney and all its suburbs. Ask us about our special deals!