Just like in the renting of apartments, there are terms that are used in the renting of storage units. If you want to rent a storage unit, it will be nice for you to know these terms. Knowing the terms will be of use to you in a number of ways. For example, if you do not know these terms you will not understand the contract agreement. This is because the terms are utilized in the writing of the agreements. The implication is that you will be entering into the agreement that you do not fully understand. It is a terrible mistake to sign any contract that you do not know what it is all about. Here are some of the terms that you should know.
Administration Fee: This refers to the fee charged by some facilities in order to carter for the paperwork process cost. It is different from other refundable or non-refundable fees that may be charged by some storage facilities. The administrative fee is not as much as the normal traditional deposit amount.
Business Storage: This refers to the storage space meant for businesses and not for individuals and families.
Brass Lock: This is a special type of lock given to an individual using a storage facility. The brass locks normally are corrosion and weather resistant. They also come with anti-pick tumblers.
Climate Control: This refers to a special type of storage unit that has special system for controlling the temperature of the unit. In this type of unit, the temperature control system can keep the unit warm during cold weather and cooler during warm weather. This is specifically meant for the storage of items that are sensitive to changes in weather or items that must be stored under a specific temperature such as drugs and other chemicals.
Non-climate control unit: this is also known as cold storage. It is a type of metal storage unit that is not protected from changes in temperature.
Locker: This refers to the storage space rented by an individual. There are various names that they can be called, namely, space, units, storage units or store rooms. Units are available in a number of sizes to suit various needs.
Month to Month Lease: This is a payment option used in the rental business. Here, it is used to mean that the payment for the unit will be made on monthly basis until the tenant stops using the unit.
Pro-Rate Rent: This is the rent you pay for the month you start using the unit. The pro-rate rent is calculated based on the date you start using the unit. So, it is always less the monthly rent unless you start from the first day of the month.
Rent: This is the amount you pay on monthly basis for the use of the storage facility. However, the payment mode is normally stipulated in the agreement.
Rental Lease/Rental Agreement: As implicit from the name, this is where the agreement between the rental business and the renter is stipulated. The agreement becomes legally binding on both parties once it is signed.