In our last blog post, we discussed the concerning trend of some self-storage companies offering unrealistically low introductory rates, followed by swift and significant rent increases. While this practice may not be illegal, it's certainly unethical and can leave customers feeling frustrated and financially strapped.
At Towne Storage, we believe in building trust with our customers. That's why we're continuing the conversation around transparent pricing practices in the self-storage industry.
Beyond Introductory Rates: Uncovering Hidden Fees
While eye-catching introductory rates might grab your attention, it's crucial to look beyond the initial price tag. Some of the storage companies are offering incredibly low prices. Because of the month-to-month agreement, they can increase rent as soon as one month after moving in. In many cases these companies do not wait more than a few months before hitting their customers with rate increases that double, triple, and even quadruple the initial price.
Here are some additional hidden fees to be aware of:
- Administrative Fees: Most companies charge one-time administrative fees; these fees can vary and some companies will not disclose these until you are already committed.
- Move-in/Move-out Fees: Be sure to inquire about any fees associated with moving your belongings in or out of your unit.
- Transfer Fees: Some companies will charge you a fee to move from one unit to another that is more convenient or better meets your needs.
- Late Fees: Understand the late payment policy and associated fees to avoid any surprises. Some states will mandate what fees can be charged.
- Technology Fees: While technology is important and helps keep storage items safe there is a wide range of fees than can be charged.
- Insurance: While self-storage facilities offer insurance, it is good to look at the coverage and the cost. Carefully assess your needs and compare options before selecting a company to work with.
Shop Around and Ask Questions
Don't be afraid to compare prices and features offered by different storage facilities. Here are some key questions to ask:
- What is the total monthly cost, including all fees?
- How often do you raise rents, and by what percentage?
- How do you notify customers of rent increases?
- What is the late payment policy and associated fees?
- Are there any move-in/move-out fees?
- What other fees are charged like a Technology Fee or Transfer Fee?
- Insurance, what do you get for what you are paying?
By asking these questions and comparing options, you can make an informed decision that best suits your needs and budget.
Towne Storage: Your Partner in Storage Solutions
At Towne Storage, we're committed to providing our customers with a transparent and hassle-free storage experience. Here's what sets us apart:
- 12-Month Price-Lock Guarantee: We guarantee no rent increases for the first twelve months.
- No Hidden Fees: All fees are clearly listed and can be explained by our team members.
- Month-to-Month Leases: Enjoy the flexibility of renting for as long as you need, with no long-term commitment.
- Customer Service: Our friendly and knowledgeable staff is here to answer your questions and help you find the perfect storage solution.
We understand that choosing a self-storage facility is an important decision. By being an informed consumer and partnering with a company that prioritizes transparency, you can avoid the pitfalls of unethical pricing practices and ensure a smooth and stress-free storage experience.
Visit your local Towne Storage today and experience the difference!