Renting a Storage Unit vs. Owning a Storage Building

June 21, 2019

renting vs. owning storage space in little rock

Rent or Own – Which Storage Solution Is Right for You?

There comes a time in most people’s lives when they find themselves in need of extra storage space. Whether you decide to rent a storage unit or buy a storage building for your backyard, it’s a solution you don’t know you need until you need it.

Maybe you need to protect some household goods while remodeling your home. Maybe you need to store some stuff while waiting to move into a new home. Maybe you just received an inheritance, experienced a natural disaster, or produced a lot of inventory your business cannot hold alone.  

No matter your reasoning or your budget, you’re still going to look for the more cost-effective storage solution when you need some extra space.

Renting a self-storage unit is the most obvious answer to us, but is it right for you?

Let’s find out!

Why Own?

Buying a storage container or storage building is a great choice if you are looking for a more permanent storage solution. If you like long-term commitments, the pros for this option will look very appealing.

Pros of Owning

  • Complete ownership
  • Long-term time/cost-effective (if storing more than 5 years)
  • On-demand storage
  • One-time payment with zero monthly fees (unless you rent-to-own)
  • Can be resold into the used container market
  • Assurance that your items are close by and protected according to your terms
  • No customization limits
  • No additional insurance needed if you have homeowner’s insurance

To be fair, owning a storage solution has some cons, also.

Cons of Owning

  • Large upfront investment (unless you rent-to-own)
  • Must self-arrange any moves or relocation
  • Responsible for maintenance and upkeep
  • Must have the long-term space and conditions for a container or building
  • Not very aesthetically pleasing

Not sold on a storage container yet? Let’s review some pros and cons of renting a storage unit.

Why Rent?

Renting a self-storage unit can have some superb perks. Here at Modern Storage, we always go out of our way to offer the best storage experience for every customer.

First, you only pay for the time you occupy the unit. Only need the space for 4 months? That’s no problem here at Modern Storage!

With our month-to-month leases, you can have the unit for as little or long as you need. You will never waste your money on a storage solution for longer than necessary.

Pros of Renting

There are some cons to renting, however, if any of these facts bother you…

Cons of Renting

  • Reoccurring rental fees (no one-and-done payment)
  • Late fees (if you miss a payment)
  • Rental contract
  • Moving/transporting your stuff to the storage facility
  • No alterations to the unit

Now that we’ve gone through both the pros and cons of renting a storage unit and buying a storage container, the decision is up to you.

If you choose to rent a storage unit, we at Modern Storage would love to help you find the perfect one. Please give us a call now to get started:

  • Modern Storage Maumelle Boulevard: 501.791.0080
  • Modern Storage West Little Rock: 501.812.6500
  • Modern Storage World: 501.224.3370

Photo of RV storage building courtesy of SteelMaster Buildings on Flickr under Creative Commons License 2.0

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