June 7, 2019

The Price is Right: Factors that determine the price of a unit

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Price represents an important factor in determining where to store your stuff. However, many customers of storage facilities do not have clue when it comes to knowing how companies price their units.

Let’s look at several factors that determine the price of storage.

Location, Location, Location

A facility located in the heart of Chicago will charge more for each unit than a business located in rural Illinois. It’s a matter of real estate supply and demand. In addition, location matters when it comes to being near major roads and highways. You can expect to pay more for a unit located next to a major interstate than what you pay for a unit sitting far away from major interstate.

Climate Control

If you want to store temperature sensitive items such as wine and expensive electronics, you will have to opt for a climate controlled unit. Because of the technology used to keep your unit at the same temperature year round, you will have to fork over more cash each month to rent the climate controlled unit.

Unit Size

The larger the unit, the more rent you can expect to pay. A five by five foot unit used to keep a few items secure will cost much less than a unit used to store a boat or a vehicle.

When You Sign the Contract

Storage facilities tend to raise unit prices by end of summer, which is time of year customers store items like summer outdoor recreational gear and equipment. Late May is another time of year when units increase in price, as college students move their stuff out of campus housing into more affordable storage units.

Location of Unit Inside the Facility

Units located near the entrance of a facility typically cost more because of the convenience factor. You can also expect to pay more for a unit on the first floor of a facility, as well as units on higher floors that are located next to an elevator.

What is the Type of Service?

Perhaps the most important factor that determines unit price is the type of service offered by a facility. Self-storage businesses operate on the do it yourself business principle, which means you use your vehicle and equipment to move your stuff into a unit. Full-service businesses include the pickup and delivery of your things to the unit. Most full-service facilities require longer contracts that can increase the cost of storing possessions.

Accessories

When you walk into a facility, you will see numerous products displayed that make moving and storing stuff easier. From disc locks to padded insulation, any accessories that you buy will increase the cost of storage. Search for a business that bundles accessories into a discounted storage price to save money.