It"s A Lie, A Big Fat Lie!
You have probably seen their ads on television or even heard them on the radio.
You may have even seen a reference on the internet.
What am I talking about? Some self storage companies, especially the one with the initials P.
S.
, are claiming something to the effect that you can rent one of their spaces and move in for just $1.
One of these days, someone is going to force them to change their ads because it is a lie and you cannot move in for $1.
To start off they, will charge you a NONREFUNDABLE administration charge.
This is usually around $15-$20.
What's this for? This is to set up your account.
I am not familiar with any other industry that does this, charging you so you can do business with them except maybe the premium credit cards.
You may be required to buy their lock.
Sometimes they have special locks but many times their locks are not that special.
Do you have insurance on your stuff through a renters or homeowners insurance policy? If you do not show up with the policy in hand, you may be required to buy their insurance.
And their insurance may not be as good as your own insurance.
Their insurance probably has lower limits than yours and does not cover as much.
It probably starts off as covering only depreciated values while you may have replacement cost.
Most of these policies from the storage facility only cover 50% of the depreciated value in cases of theft.
This is because of the difficulty of proving that something was actually stolen in the first place.
So...
, if you want replace cost for your stuff if something happens to it, you may want to call your insurance agent first.
I have heard from some customers that at some locations to take advantage of the $1 move-in rate for the first month, you had to sign a 3-6 month lease.
This may be fine some people, but may not fit the plans of other people who need a temporary place to put some things between household moves.
So that $1 move-in could end up with $20 admin fee, $10 lock, and maybe $30 for insurance.
After that you have the recurring monthly rental charges.
Did you bother to ask how often they increase the rent? I have heard that some places have an automatic rent increases that start after you have been there for only 3 months.
You may have even seen a reference on the internet.
What am I talking about? Some self storage companies, especially the one with the initials P.
S.
, are claiming something to the effect that you can rent one of their spaces and move in for just $1.
One of these days, someone is going to force them to change their ads because it is a lie and you cannot move in for $1.
To start off they, will charge you a NONREFUNDABLE administration charge.
This is usually around $15-$20.
What's this for? This is to set up your account.
I am not familiar with any other industry that does this, charging you so you can do business with them except maybe the premium credit cards.
You may be required to buy their lock.
Sometimes they have special locks but many times their locks are not that special.
Do you have insurance on your stuff through a renters or homeowners insurance policy? If you do not show up with the policy in hand, you may be required to buy their insurance.
And their insurance may not be as good as your own insurance.
Their insurance probably has lower limits than yours and does not cover as much.
It probably starts off as covering only depreciated values while you may have replacement cost.
Most of these policies from the storage facility only cover 50% of the depreciated value in cases of theft.
This is because of the difficulty of proving that something was actually stolen in the first place.
So...
, if you want replace cost for your stuff if something happens to it, you may want to call your insurance agent first.
I have heard from some customers that at some locations to take advantage of the $1 move-in rate for the first month, you had to sign a 3-6 month lease.
This may be fine some people, but may not fit the plans of other people who need a temporary place to put some things between household moves.
So that $1 move-in could end up with $20 admin fee, $10 lock, and maybe $30 for insurance.
After that you have the recurring monthly rental charges.
Did you bother to ask how often they increase the rent? I have heard that some places have an automatic rent increases that start after you have been there for only 3 months.
Source...