People who have accumulated too much stuff to fit in their home have a choice to make. They can choose to get rid of things by throwing them out, selling them, or donating them to a charity. They can also choose to start renting a self storage unit big enough to fit all the stuff they want out of their home but want to still own and have access to.
For those who simply must continue to own a lot of stuff, there are self-storage units available for rent across the country, such as a self storage facility reston va. The units are usually rented on a month to month basis and are used by both individuals and businesses to store excess belongings. According to Wikipedia page people in the industry say that the main four reasons people turn to self-storage units are downsizing, dislocation, divorce, and death. Another class of people who tend to use these types of units is people who have remarried and end up with duplicate items. Rather than getting rid of one of the duplicates they will rent a storage unit and keep the items instead for reasons ranging from sentimentality to thinking they might want to use it later on.
There are somewhere between 44,000 and 52,000 self-storage units in America. These units are generally offered in five sizes depending on how much a person or business needs to store. The smallest self-storage units are 5×10 while the largest ones are 20×20. In between the units are 10×10, 10×20, and 15×20. These units do not have windows and feature exterior locks which can only be opened by the unit’s renter.
The self-storage unit industry is one that his very much fragmented. There are no large national brands that offer these units. Around 80 percent of the self-storage facilities in the United States are owned by either individuals or small investors. While some make money only off renting out units other people that own these facilities are hoping to sell the property at some point in the future for a lot more than what they bought it for.
In order to find out if your items in the self-storage unit are insured a person should contact their insurance agent as this recent article discusses. What you should ask is if your policy includes off-premise items. Most homeowner’s and renter’s insurance policies do include this coverage but not all do. Assuming there is coverage the policy will cover things such as theft, fire, water damage, and other perils spelled out on the policy. The insurance policy does not cover perils such as earthquake, flooding, mold damage, or vermin damage, though.
When someone stops paying on a self-storage unit and doesn’t respond to the facility’s demands to empty the unit the items being stored can be auctioned off. Once someone stops paying the owner of the facility will send them a registered letter explaining that they are in arrears and must either pay or vacate the unit. Once this all goes through the legal process it is usually the entire contents of the unit that is sold to one bidder.