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Making a Storage Space Lease Agreement
The storage unit industry is often a lucrative business, to keep your business profitable it helps to have a good Storage Space Lease Agreement. Our contracts include necessary information such as payment due dates, terms, termination details and security information.Use the Storage Space Lease Agreement document if:
Any type of rental arrangement should begin with a contract. It protects the business as well as the customer. Plus, it makes sure that the renter understands the terms of their agreement such as when they can visit their unit, when payments are considered late and what items are not allowed in storage.Other names for this document:
Storage Rental Agreement, Storage Unit Lease Agreement, Storage Unit Contract, Storage Space Lease Contract
Contracts can include any type of unique information that you want to include, but most include at least the following:
Yes, you can in almost every state. If the renter doesn't pay their rent according to the terms of your rental contract, you can sell the contents one-by-one or everything together. Often storage unit owners will hold a public auction to sell the contents of storage units. Some websites are dedicated to helping people sell storage unit contents. Selling stored items is time consuming, but it is a way to recoup some of your loss. Information about what happens to storage unit contents if the contract is violated should be included in the contract.
While it doesn't happen often, it does happen. You should consider having specific language in your contract about how living in storage units is prohibited. No matter how bad you may feel about a renter's situation, living in storage units can be dangerous and a huge liability to your business. Storage unit managers should routinely monitor the access logs, so they can see if it looks like someone is checking in and not checking out within a reasonable amount of time. Many storage unit managers also keep information such as what public services are available in the office to help those who may not have a place to sleep.
Many storage unit owners choose to form a Limited Liability Company (LLC) to protect their personal assets and liabilities. While you could form a C-corp or S-corp, LLCs are the most commonly chosen entity, since it is easy to do, even if you are small company or a single person. If your business is an LLC, it is more difficult for creditors to jeopardize your personal assets for a business debt or liability.