Self Storage Policies That Need Modifications

Self Storage Policies That Need Modifications

Each self storage facility should have its policies and procedures put in place and implemented to the letter. Having this translates to good business practice, that the business runs efficiently and enables the management to carry out any disciplinary action when the need arises. Providers, however, vary in their policies.

The purpose of having a policy is also to protect the management and its employees from liabilities in the event it is challenged by circumstances. As an example, the company needs to stick to its rules and regulations and not make an exception for the issue of a tenant which can only cause you to face legal liability.

One area of a self storage policy that should be clearly stated is the payment aspect. This is where the terms on how a customer should pay his rent and deposits that may be required before the rental period starts. Normally, providers ask for a deposit during the signing of a contract. This is usually refundable which means the management will return the amount to the renter once he or she decides not to continue with the contract.

It is also in this section where the terms and method of payment as well as the renewal of the contract should be included. The standard terms of payment is monthly but customers can opt to pay for a longer term if they think they’ll be renting a unit for several months to a year.

In line with this area, the company also needs to state its course of action when a renter fails to pay rent for a month or more. The usual procedure is the possession of stored items by the facility and putting them on auction. The auction is done as a way for the management to recoup its losses.

Insurance coverage may also be specified in the policy if the self storage provides such product. This section should clearly stipulate what the management provides and what they recommend renters do to protect the items they’re storing in the facility. For instance, some facilities only provide limited coverage and therefore, encourage their customers to purchase additional coverage for the full protection of their personal possessions.

The handling of an auction needs to be put in detail as well. This is where the provider states how it conducts the activity, where the location is, the method of payment and how the stored items will be handled such as if the bidders can check them or not.

Also, it may be an important consideration today for self storage facilities to state how the rental units are going to be used. There have been complaints lately about tenants using their storage space as a place to spend the night with their mistresses or other women. There are instances when the unit is sometimes used as an office by people who don’t want to spend extra money on renting a real office space. However, using the area as a way to promote illicit sexual affairs should not be tolerated. It is high time then for providers to look into this matter.