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As we are all trying to get by in these tough times, many people find themselves with a lot or too much time on their hands; many are trying to find ways to save them money. So what does this mean for your rental storage unit? You may be able to renegotiate your lease so that you can free up a few dollars and potentially include some things in your new agreement. 

 

 Many rental storage units have had the same lease guidelines since they opened, which could be between years and even potentially decades old. This could lead to issues for you, the store owner, due to regulatory changes and even state changes if you are in the US. So what does this mean, if there is an issue, such as mould or mice, your tenants may potentially lead to problems for you and your tenants. If compliance laws have changed, you may be out of your state laws and unable to complete a lawful action. Many seek to refresh their leases if they are over the age of 3 years old. If this is the case, you should have an attorney look it over and advise on the best practices for updating it. 

 

Electric in Units 

 

IIf your unit offers something such as electrical hookups for things like RVs or boat storage, you should include a unique form for your business. However, including something could make your contract too broad, again it is in best practice that your lease is reviewed by an attorney to ensure that you are in law compliance and that things are correct for your specific situation. 

 

What You NEED to Include 

 

When creating a lease, you should make sure that it includes necessary information that provides essential clauses that make the points clear while still protecting your self-storage operation as possible. You should always have full contact information for any tenant, this includes:

 

 full name, phone number, date of birth, and even more specifically, a driver’s license number.

 

The requirement of the tenant responsible for any additional charges, late fees, bad checks, lien fees, or other expenses that may total up if possible.

 

Clear language that states that the renter has 30 days’ notice upon rental rate charges.

 

The language that states that the rental is either month to month or the term of the contract is short term, six months, or a year in length.

 

The purpose of the unit is to be used strictly for self-storage, and you are not to inhabit the group.

 

Items not allowed in the unit, anything illegal, potentially damaging, or harmful.

 

Self-storage is at the risk of the tenant. 

 

Release of liability 

 

And so forth, these things are essential to get on record so that the lease has the clear language of what is and is not allowed. This will give a clear guideline tenant and give yourself a legal cushion to protect yourself against potential legal action the tenant may take if there is an issue.