What Is Long Term Storage?
Long term storage is when you sign a contract with a storage facility to reserve storage units for you or your business for an extended period. A long term storage contract can last from three months to multiple years. Long term storage is an ideal options for anyone who wants to set up and maintain a storage unit to their liking indefinitely. It may be used for workshop or office space, decluttering and downsizing a garage or home, valuable items and collectibles, decluttering and downsizing your garage or home, or extended travel. Long term storage can also be a smart way to make the most of limited square footage.
Reserving a unit for long term storage is a commitment, as you're responsible for the monthly rent for the duration of your contract, even if you're not using the space. That being said, the monthly rate of the storage unit is typically lower when you sign a long-term lease, making it the cost-effective solution for freeing up some additional living space at home. Let's take a look at the ideal scenarios for leasing long term self-storage:
- Decluttering: Downsizing to a smaller living space or decluttering the amount of stuff you keep at your current home are both opportunities to rent a storage unit long term.
- Business Storage: Organizing your storage unit as an office storage space allows you to keep archived documents, excess inventory, signage, and office equipment out of the way. Consider climate control, as humidity destroys paper documents.
- Recreational Vehicle Storage: Whether you're storing a car you're rebuilding, dirt bikes and ATVs, or your motorcycle during the winter, long term storage lets you arrange your vehicles and tools as you want them.
- Extended Travel: Whether you're globetrotting or leaving for a work assignment for an extended period of time, why pay rent in two places? Keep your belongings secure in a long term self storage unit until you come home.
- Sentimental items, Family Heirlooms, and Collectables: A long term storage unit is a great place to keep sentimental items you're not ready to part with while saving space at home. Set up shelves and use plastic storage bins and bubble wrap to keep delicate items safe. Remember, if you're storing paper items like comic books or baseball cars, consider climate-controlled storage spaces.
What is Short Term Storage?
Short term storage typically refers to renting a storage unit on a month to month lease. As the end of the month approaches, you either clean out your storage unit and end your agreement, or you pay the monthly prepay rate to keep the unit for the following month. Short term storage units are usually priced a bit higher, but you're under no obligation to keep the unit for more than a month. This is a convenient solution when you need a bit of extra space temporarily if you have family in town, prepping for a move, or to store seasonal items and holiday decorations for a month or two.
Let's consider when short term storage is the more appropriate solution:
- Moving: Short term storage can keep your packed belongings safe before an upcoming move, allowing you to start prepping early. It's also a cost-effective storage solution if you're between places and staying with friends or family.
- Redecorating/Home Renovations: You might need to store your entire furniture collection for a few weeks while the construction crew renovates the primary bedroom, living room, etc. Or maybe you're painting the walls, and you want to store all your artwork and decorations. Short term storage is a great way to get stuff out of your way for a month or two.
- Seasonal Storage: Whether it's Halloween decorations, snowmobiles and ski gear in the summer, or motorcycle and patio furniture in the winter, seasonal storage typically only lasts for a few months.
- College Breaks: Why move all your stuff from your dorm room to your parents' house in between semesters? Rent a short term storage unit close to your university and keep your belongings safe until class starts back up.
- Work Trips: If you're traveling from work for a month or two and living our of a hotel room, it might make more sense to store your stuff in short term storage until you return.
Comparing Cost: Long Term vs Short Term
Cost is the primary consideration when weighing long term vs short term storage. The higher monthly rate of renting storage units short term might be worth it if you need the unit for only a month or two. That said, there are storage facilities that offer long term discounts on contracts as short as 3 months. There are also 6 month leases, so if you're storage period is longer than 3 months, signing a long term contract might be the more cost-effective storage solution.
