If you have some items that you need to store, and you know somebody with the same predicament, it is good sense to rent one storage unit and share it, right? Well, not so much. While sharing a storage unit with friends have many positive sides, it also has some cons. Sure, it’s a cost-effective solution, but one that brings big risks. Still, there are some useful tips that can help you to avoid the problems that this kind of partnership can bring.
First of all, determine whose name will be on agreement
When you are sharing a storage unit with friends, you need to determine whose name will be on the lease. The best way is that it has all the names of all the people that are sharing the unit.
Why you may ask? Well, it is practical and ensures the safety of your stuff.
Let’s take for example that you are sharing a storage unit with friends that you know for years. You have a complete trust in them and you are ok with their name at the lease, without your own.
That is opening doors for many hypothetical situations.
What if friendship comes to an end? The life is unpredictable, and so are the people. You never know what tomorrow brings. Somebody that was your best friend yesterday, can stab you in the back next day. Maybe one of your friends urgently needs money and have no option to sell all of the stuff in the storage unit, including your own. What if you get to a huge fight and you aren’t speaking to your friends anymore? Since your name isn’t on the lease, you won’t be able to get into the storage unit. The storage manager will only open it to the renters on the lease. No matter how much you trust your friends – when you are sharing a storage unit, make sure that all the names are in the agreement. That is the only way that guarantees the safety of all of your belongings.
Who will pay the bill?
The customer that is paying the rent for a storage unit is the one whose name is on the rental agreement. Another good reason to put the names of everyone on the lease. Be aware that if the payment doesn’t arrive by the due date, you access to the storage unit will be denied, and your unit may be processed at auction.
Let’s see this hypothetical situation:
You put your name as the only owner on the lease with the agreement that your friends will give you their part of the rent. It all works for a while. Then, it happens that one of your friends isn’t able to pay its part anymore. As the owner, you have the option to pay the friends part or to tell the storage manager that you don’t have the full amount of the rent.
The property manager will say that there aren’t partial payments. When the rent is late, the property manager puts a lock on the unit and denies access. Now you have to pay the friend’s part of the bill or else you won’t get access to your stuff. Why? Because you are the only person listed on the rental agreement. You are the only one contracted to pay for and utilize the storage unit. After a month goes by without payment, you will receive a certified letter saying a lien has been placed on the unit and you have to pay or the unit will be auctioned.
That way, you are stuck with a bill because your friend couldn’t pay. It’s a bad situation, that will affect your friendship and the safety of your stuff. The situation that could have been avoided if you and your friends put all of the names on the lease or just get your own storage unit. The storage units Sudbury have different sizes of units, enough to accommodate just about any need. So why risk it?
The Pros of sharing a storage unit with friends
The biggest pro of sharing a storage unit with friends is the financial aspect. Sure, you can store your belongings on the attic, but it isn’t the safest option. Not by the long shot.
If you are in a need for a storage unit, and you can’t afford it, sharing a storage unit with friends is a good way to save some money.
Especially if the persons that you will be sharing a storage unit are the ones that you can trust. It all comes down to that. How reliable your friends are. If they have been there for the hard moments, and you can always rely on their help, then sharing a storage unit with friends can be a good idea. You have to weigh the potential monetary savings versus how much you trust the other persons. Of course, there are no guarantees, so trust your feelings, but think it through. Take any possible scenarios into advisement before you make this decision.
The Cons of sharing a storage unit with your friends
As said, life is unpredictable. Your friends and their behavior can change due to some unexpected situation. You and your friends could have a falling out. If they’re the one on the lease, they could easily prevent you from getting your things. It probably won’t happen, but it is a real risk that you have to take seriously. You may think that your friendship is unbreakable, but you never know what can happen. You can even get in the fight about paying for the rent of a storage unit. That way, sharing a storage unit with your friends can be the nail in the coffin of your friendship. So you are not risking only to lose your stuff, but your friends also.
How to make sharing a storage unit with friends work?
If you have to wager your options and decide that you want to share a storage unit with your friends, you need to find an ideal storage unit that will accommodate the needs of all the ones included. Sharing a storage unit with your friends means that you will be sharing the expenses too, so use the best storage facilities. Call movers Ontario and ask about their storage services. They are at the very top and it is a reliable and reputable company. Just the one you need to keep all of your belongings safe and sound.
There are some guidelines for sharing a storage unit with friends:
- Put the names of all that are participating in sharing the storage unit on the rent agreement.
- Determine how you and your friends will be paying for the rent and put it in the lease agreement.
- Choose the storage unit.
Visit a few places together and find the storage unit that suits the needs of the entire group. Everybody has to be happy with the storage unit since all of you are equally paying for it.
- Split the space.
Determine how much space each individual will have. If somebody requires more space than the others, the price of his/hers rent part should be higher.
- Make sure what your friends are storing.
There are some items you shouldn’t keep in storage, so make sure that everybody is informed what belongings they may legally store.
- Make a list of everyone with access to the storage unit.
People usually share their keys with spouses or family. Each person that is sharing a storage unit needs to know who can come and go to the unit. It’s not only good manners but also insurance in the case that something is missing from the storage unit.