In the U.S. alone, 45,000-52,000 self-storage facilities exist. On average, the cost of a storage unit is $88.85 per month or $1,066.20 per year. The self-storage facility industry is a $38 billion industry and growing.¹

An astonishing 9.4% of households in the U.S. rent a self-storage unit.Click To Tweet

The Problem

Self-storage facilities are a great way to handle the following life situations:

• Short-term moving situations
• Inventory storage for a local business
• Decluttering a home or office
• Dealing with a temporary living situation

However, in many cases storage unit rental fees end up costing more than the items being stored are worth. Emotional attachment to items leads to poor financial decisions by the renter. In terms of storage facility owners, more creative solutions can be implemented in order to help renters better handle their life circumstances and provide value-added benefits to their customers.

The Solution

Obviously, it is important to the renter for them to keep the items that reside in the storage. Otherwise, they would not be renting a storage unit. But, with 80% of these items being used less than once a month, how can storage unit renters and storage unit facility owners convert this real problem into an enormous opportunity?²

Convert an Expense to an Income

At Rent Items, we believe better ways exist to utilize self-storage facilities in the U.S. We believe Rent Items helps to create a better experience for both the renter and the self-storage facility owner. Instead of storing items that sit idle in a storage facility, these items should be utilized regularly by local neighbors or travelers to a city. For example, by renting a bike or electric scooter 2-3 times a month, the storage unit cost is recovered making it easier to pay the self-storage bill at the end of the month. 

What can Self-Storage Facility Owners do?

If self-storage facility owners would embrace this concept and partner with Rent Items, renters will have a much greater incentive for continuing to rent their storage unit. The self-storage unit is now viewed as a vital necessity to generate an income instead of the painful cost for storing items that are not even being used. In addition, self-storage facilities would be making a significant contribution to the environmental impact of the sharing economy. 

76% of U.S. adults familiar with the sharing economy believe it’s better for the environment.Click To Tweet

Application

As a storage unit renter, consider what items you currently have in storage that would make sense to rent on the Rent Items’ marketplace. Items should be cost-prohibitive to easily purchase and/or not easily accessible in your area. For example, an expensive piece of equipment like a generator, snow blower, or pressure washer, etc. Or, in terms of what is not easily accessible in your local city. For example, beach equipment to those that are traveling to the area from a different city or country. 

As a self-storage unit facility owner, think about this… If a self-storage unit renter can generate an income with the items that are being stored at your self-storage facility, it will lead to better customer satisfaction and great customer retention. Therefore, partner with Rent Items to offer a unique value-added service and opportunity to your storage unit renters. Join our Self-Storage Facilities Partnership Program today.

 

 

1. https://www.sparefoot.com/self-storage/news/1432-self-storage-industry-statistics/
2. https://knowledge.wharton.upenn.edu/article/how-green-is-the-sharing-economy/