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• The Ultimate Guide For Self-Storage Contracts

The Ultimate Guide For Self-Storage Contracts

22 November 2020 When you decide to rent a self-storage unit, there are a lot of terms that come into it. Your contract is a legally-binding, written agreement that should consist of different terms such as tenancy, the rights of both lessee and lessor, the agreed upon payment per month, etc. This document is considered as a legitimate evidence in court should there be any disputes. Any disagreements, slights, transgressions, or concerns can all be clarified by having the terms all written out plainly and comprehensively. This means that it should be your priority to peruse your contracts given that you are going to be kept under lock and key by the legalities of it. It would be smart for you to take a few hours just to read through your contract before you sign. When you go for a self-storage facility that gives unclear terms, you should consider this as a red flag. You need to know your rights and boundaries and a contract is the best way to set the parameters of it. It is your responsibility to understand any paperwork that you sign. Here are some of the terms that you have to take into consideration when you read your contracts.

Regular Payments

First and foremost on your contract should be the exact price of the amount you have to pay for monthly rent. The contract must have in clarity the exact date when rent is due, the amount of your rent, and your security deposit. There should also be some terms in terms of contingencies such as:

What Happens If You Pay Late

The contract must have some terms on what happens if the tenant does not pay on time. This can indicate, for example, that a late fee can be imposed on you. On the other hand, your landlord may also give you a bit of a leeway like 2-3 days before the late fee can be added to your rent.

What Happens If You Cannot Pay Rent Anymore

There may be unforeseen circumstances that might make you unable to pay the rent anymore. The contract must indicate how long you can stay before you take out your items and if you can still get your security deposit.

Use Of Your Units — Items You Can Get To Store

The contract must also have a list of your rights as the tenant. For example, you need to know just what you can store in your self-storage facilities. There are a lot of rules that you might not know until you’re already moving in. A common mistake is not talking about what items you are storing with your landlord. This can lead to some serious violations that might either get you kicked out or face serious fines. Some items are risk hazards and many facilities have a premise liability clause in their contracts.

Change of Contract Terms

There are a lot of terms that might change in your contract. This is why it should be specified in your contract what happens when some terms like payment price change and how you should be notified. A notice should be handed out to tenants and given in due time.

Termination of Contract

There are some instances when the landlord can decide to terminate the contract. For example, if a tenant has been found violating numerous rules and guidelines of the self-storage facility. However, your contract should also state that as a tenant, you have the right to be given a decent amount of time before your lease prematurely ends.

Landlord’s Rights

On the other hand, your landlord should also have his rights. This means that your landlord can ensure different measures to guarantee that his property is also protected from damages. Your contract will also indicate some situations when your landlord can impose on your rented property, ie. for emergencies or repairs. Locking you out is another right that your landlord can do given the specific circumstances.

List of Amenities

Lastly, your contract will have a list of amenities that you are paying for and thus should have. This means that when your landlord does not provide you with the amenities, you can point out that your contract is not being followed. Contracts are quite messy and complicated but it is the only document stopping you from being abused by landlords with exorbitant rates and illogical requests. If you are a landlord of  a storage facility, it might be perfect for you to check out contract management solution as it will make the contract management process a lot easier. This means that you do not break the rules that you have set for yourself and your tenant while also reminding you of the deadlines that you have set.