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Storage Space Lease Agreement Basics

You have storage space to lease. Maybe you own a storage company. Or maybe you just want to make a little extra cash by renting out your garage. A Storage Space Lease Agreement helps get the basics of the lease in writing, like rent, due dates, and who's responsible for what.

Use the Storage Space Lease Agreement document if:

  • You would like to lease storage space to another individual or business.

You may think that renting storage space is pretty basic. It can be, but a Storage Space Lease Agreement is still important. What happens if the renter claims property was damaged? Are items being stored that need to be kept at a certain temperature? That's pretty difficult when you're leasing your garden shed as a storage space. And when is the tenant allowed to access the property? You probably don't want someone poking around your garage and riling up the dogs at three in the morning. Leasing storage space is a great way to make a little extra income, but it is still important to make sure everyone is protected. Having a Storage Space Lease Agreement helps make sure everybody knows the rules.

What Is Included in a Storage Space Rental Agreement?
Contracts can be expanded to include all the terms you need, that said, here are some details that should likely make their way into any type of leasing agreement:

• How and when the lease begins: what's the starting date for the agreement? Are there any conditions that must be met beforehand?

• How and when the lease ends: how long will the storage space be leased for? Will there be any actions that could cause the lease to be terminated?

• Price: this is seldom forgotten, but be sure to detail any procedure for adjusting pricing if it will change on a yearly basis.

• What happens when the initial lease period ends? Many storage agreements will be on a month to month basis, but not always. Be sure to specify if the lease will automatically renew or if it must be renegotiated and the end of the contract period.

How Can I Cancel a Storage Space Rental Contract?
Typically, the ways in which the contract can be cleanly broken are outlined within the document itself. Many service contracts, such as lease agreements, are framed month by month—meaning the customer in these instances has the option to cancel or continue the arrangement each period. If you need to break the agreement earlier your best bet may be to discuss your needs with the other party.

In the event of a breach of contract the contract itself is not necessarily nullified. For example, if you leased a storage locker and the provider was a day late in granting you access that likely wouldn't be enough to cancel the entire agreement. In contrast, if the provider just bulldozed all the storage units and sold the company, it's likely a reasonable assumption that they are now incapable of fulfilling their end of the deal, releasing you from your own obligations.


Sample Storage Space Lease Agreement

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Storage Space Lease Agreement Basics

You may think that renting storage space is pretty basic. It can be, but a Storage Space Lease Agreement is still important. What happens if the renter claims property was damaged? Are items being stored that need to be kept at a certain temperature? That's pretty difficult when you're leasing your garden shed as a storage space. And when is the tenant allowed to access the property? You probably don't want someone poking around your garage and riling up the dogs at three in the morning. Leasing storage space is a great way to make a little extra income, but it is still important to make sure everyone is protected. Having a Storage Space Lease Agreement helps make sure everybody knows the rules.

What Is Included in a Storage Space Rental Agreement?
Contracts can be expanded to include all the terms you need, that said, here are some details that should likely make their way into any type of leasing agreement:

• How and when the lease begins: what's the starting date for the agreement? Are there any conditions that must be met beforehand?

• How and when the lease ends: how long will the storage space be leased for? Will there be any actions that could cause the lease to be terminated?

• Price: this is seldom forgotten, but be sure to detail any procedure for adjusting pricing if it will change on a yearly basis.

• What happens when the initial lease period ends? Many storage agreements will be on a month to month basis, but not always. Be sure to specify if the lease will automatically renew or if it must be renegotiated and the end of the contract period.

How Can I Cancel a Storage Space Rental Contract?
Typically, the ways in which the contract can be cleanly broken are outlined within the document itself. Many service contracts, such as lease agreements, are framed month by month—meaning the customer in these instances has the option to cancel or continue the arrangement each period. If you need to break the agreement earlier your best bet may be to discuss your needs with the other party.

In the event of a breach of contract the contract itself is not necessarily nullified. For example, if you leased a storage locker and the provider was a day late in granting you access that likely wouldn't be enough to cancel the entire agreement. In contrast, if the provider just bulldozed all the storage units and sold the company, it's likely a reasonable assumption that they are now incapable of fulfilling their end of the deal, releasing you from your own obligations.

Use the Storage Space Lease Agreement document if:
  • You would like to lease storage space to another individual or business.
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