How Much Does It Cost To Rent A Storage Unit?

Renting a storage unit can be an excellent solution for those looking for extra space in their home. Storage unit rental may vary depending on the size of the unit, storage facilities, availability of the storage units and the level of service delivered by the rental agency. However, the cost of a self-storage unit can be a concerning factor when choosing a self-storage unit. 

This guide will provide insight into the average storage rental prices with factors that may affect the cost of storage units.

The average cost of a Self-Storage unit in Canada:

The cost of renting a self-storage unit in Canada can be anywhere from $38/month to $200 / month, depending upon the size, availability and location of the storage unit. While a small storage unit can cost $50-$70 per month, a large storage unit with massive storage space can cost $250. The increasing demand for self-storage units after the global pandemic in 2020 has significantly contributed to the increase in storage unit rentals. 

Factors determining the Storage unit rentals:

Many factors, from size to availability, decide the cost of self-storage units. Hence, one must consider all these factors before moving items to storage units.

  • Size: While smaller storage units are more affordable, you can also consider renting a medium size storage unit that is even more spacious. Although they can cost you a little more, medium size units (10 feet by 10 feet) are an ideal choice to accommodate your essentials that are not in use anymore.
  • Location: Those living in metropolitan cities can expect to pay more for storage unit rentals due to their ever-rising demand. As people find it convenient to rent a storage unit close to their residence, the storage unit rental is higher in prime areas of the major cities. In contrast, a storage facility in rural areas provides a more economical and convenient option.
  • Type of storage unit: Not all storage units are the same. Some storage units are designed for outdoor purposes, whereas others are integrated with special features for indoor storage. Indoor storage units ensure the security of your belongings in a building; hence, they are expensive compared to outdoor self-storage. 

Climate-controlled storage units make more sense when storing temperature-sensitive items in self-storage. However, climate-controlled or heated storage units are 20-40% more expensive than non-heated storage.

  • Accessibility: Storage units with 24/7 accessibility are comparatively more expensive than ones with occasional access. If you don’t need regular access to your storage unit, ask your storage rental provider to cut down on the cost.
  • Additional costs: Sometimes, we overlook minor expenses such as securing our belongings with locks, local taxes, insurance of our valuables in the storage units or administrative fees, which eventually increases the budget. Be sure to consider these things before you move your belongings to the storage location. Ensuring that your house insurance plan covers your valuables can be a thoughtful decision.

Renting a storage unit that fits your budget can take time and effort. But, with little research and careful planning, you can save some extra money on your storage unit rental.

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