Storage units (rant)

[strobey]

I've got a storage unit that Ive shared with a friend for some years now and it's been dead useful for keeping pins & tools & bulky items like roof racks and big trolleys etc.

We pay £50 pcm each which feels just right and honestly It's been a lifesaver while we've done up the house, had kids etc. "No room for pinball now" and all that. It's true..

Anyway they've written to me and said that from Jan 2023 it's going up to £600 pcm due to demand and increased expenses.

I'm sorry?? a 6X increase?

Pull the other one.

I've never known anything like it. I actually thought it was a mistake but the guy recons he can let the whole place at that rate, so long is his wait list.

I kept this unit over the whole of covid when it was like a ghost town there and there must be 1000 individual lockups in this place and only a handful were occupied.

What ever happened to looking after long standing customers?

Short term demand may be high but it's risky and you surely need a good mix of backlog and short leases. But what do I know...

Must be run by accountants.

Anyone else seen anything similar?

Businesses taking the **** with covid and economy excuses? It's bad enough being gouged on power.

P.s. I'm annoyed sorry for the rant.

 

[HomerRamone]

Wonder if it's suddenly fashionable to have a storage unit. (as crazy as that sounds). Cos I've noticed a bunch of storage unit places popping up of late.

 

[steve brum]

The container in our car park cost me £600! I'd check on rightmove.co.uk commercial and see whats about and not taking the ****

 

[strobey]

Last week we demolished our old asbestos garage, so it's terrible timing.

The pinshed plan might need some serious exp now.

Looking at containers, but land is the problem Steve. Got very little. You're actually right though, could rent an old shop frontage in town for less.

I know this is all first world problems. It's just the feeling of being shafted that vexs me.

I'll make a brew....

 

[Pick Holder]

How big is this unit?

£600 pcm - he may be looking at renting it to small businesses - he can throw in a few broadband lines and that is all you need. but for plain old storage..... it is a stupid amount.

£100 a month is cheap. I would expect to have to pay £300 for a fair sized area. Do any of your pals run businesses that have spare space?

Or offer him £250 PCM to stay on for six months, and if he still wants you out, say you will leave then. It will pain you paying the extra but it will make life easier and give you time to sort out other options.

 

[Marvello]

£600?! Strewth, you can rent a house in the North for less than that .

Supply and demand I suppose, but a 6X increase doesn't seem logical.

Regarding Pins maybe there's a few people who wouldn't mind babysitting them for you if it works out logistically.

 

[Fantazia2]

Wonder if it's suddenly fashionable to have a storage unit. (as crazy as that sounds). Cos I've noticed a bunch of storage unit places popping up of late.

If anything I would have thought that paying out for storage would be something a lot of people would look at reducing with the prices, etc are going.

Saying that if lots of people are deciding not to move to a large house at the moment due to rising mortgage interest rates, energy prices and so on maybe there is a surge in demand for storage for people needing to make room at home, and could also be businesses going out of business and needing some short term storage for stock as they wouldnt need to pay rates on a storage unit like the they would on a commercial property I would expect.

A 6x increase sounds crazy, how big was the storage and how does the new price compare to other storage companies?

 

[Ant-H]

What size is the unit? Also is it a unit inside a building or container storage?
I’ve worked in industry for years and I agree this increase is extreme. £50pcm was also a bargain imo as well.

Location also factors into how these companies price their units, both in the building and location in the country.

 

[Ant-H]

Wonder if it's suddenly fashionable to have a storage unit. (as crazy as that sounds). Cos I've noticed a bunch of storage unit places popping up of late.

It’s a massive industry in the US annd Europe and a cash cow. It’s basically a real-estate business for the big companies.
It really took off in the UK over the last 10-15 years.

 

[Andydn]

I looked into storage as until I move, I may need to tombstone some pins to make room for my partner & her son moving in with me from Feb. Quoted £81 a week for storage the size of a single garage, overtime this will mount up to quite a cost so not an option right now. Not sure what to do, house market is poop right now, found our dream place with huge pin room but it’s sold now

 

[Big Phil]

Just store your stuff at my place. @fatapollo does.

 

[DRD]

My business is renting out storage units. There is the strongest demand I have ever known.

Uninsulated metal storage containers suffer from terrible condensation, so think hard before considering one for pinballs.

If you have no written lease and you are in a proper building you are probably covered by the landlord and tenant act of 1954. This gives you considerable protections and probably 6m on this old rent before it can be increased. It also gives you the right for permanent occupation at the going rent save under certain circumstances- major refurb, own use .... You might be in solicitors' letter territory to put the landlord on notice that you know what is what

Everyone hates landlords. I rent all my stuff out below market rents as I value predictability, decent folk, order and calm. I try to avoid tenant churn. Also when folk get a bargain they are less likely to moan about stuff and will attend to small matters themselves

They can annoy me though. What was 200 pounds 6 years ago and that they have been paying 150 for ever since, is now perhaps 400

I get no thanks for many years of bargain rates. I get moaned at and hatred for an upward adjustment to 250 - even though it is still a bargain and we'll below open market value.

 

[Colywobbles]

HoIy fook!
I rent my mums old house out it’s got 3 bedrooms all new heating system, new kitchen and full bathroom installed before the last Tennant went in there and get this!
It has a huge Garage with roller door and I once had 30 pins in there back in the day.
I get 550 pcm.

Go figure.

 

[Ant-H]

HoIy fook!
I rent my mums old house out it’s got 3 bedrooms all new heating system, new kitchen and full bathroom installed before the last Tennant went in there and get this!
It has a huge Garage with roller door and I once had 30 pins in there back in the day.
I get 550 pcm.

Go figure.

The way rates are managed is similar to house prices in regards to location.

And the the ridiculous thing with some of the storage facilities in London. A 100sqft unit in knights bridge is £545 , travel a bit further south or to the east of the city and the same size is around £240 pcm.

 

[strobey]

Its 200 sq ft and looking around looks like I had a good deal, but you get used to these things.

So I'm going to downsize and and do as suggested and get some loaners out!

Foumd a 20' container as short term solution. Tad more expensive but bearable. Condensation shouldn't be a problem as it's single voyage and apparently well airtight.

Gets us out the poop while we get garden sorted out over winter.

 

[Rob zombie]

You definitely had a ridiculously good deal there originally. I had all my stuff in storage for a few years while I lived in Sweden and it was about 300pcm or something like that. At 600pcm you have many other better options. I would just buy a shipping container.

 

[Ant-H]

Its 200 sq ft and looking around looks like I had a good deal, but you get used to these things.

Yeah you had a blinding deal on a 200sqft unit. But that’s how they get you.

They start you on a good deal, then they make you feel that you can’t be without the storage space and then Jack the price up.