A Guide to Storage Unit Prices

Ever felt a bit lost when thinking about renting a storage unit? Well, you’re not alone

In a 2023 survey conducted by the Self Storage Association (SSA), it was revealed that 77% of respondents either underestimated the cost of storage or were uncertain about its pricing.

Understanding storage unit prices and how much self-storage would cost you might seem tricky at first, but we’re here to help.

Many people believe that the size solely determines the price of a storage unit. However, this is often not the case. There are generally several other factors that come into play.

After getting to the end of this blog, you can feel confident and informed when choosing the right storage unit for you.

How Much Does It Cost to Rent a Storage Unit in the UK?

Storage units are generally rented on a monthly basis. On average, in the UK for 2024, storage costs around £2.26 per square foot. This means that a standard unit of 25 sq. ft would cost you £56.50 a month. While you might think that the monthly rental comprises the full cost of the unit, it's not as simple as that. 

Does the facility offer additional services or amenities? Are there options for climate control if you’re storing something sensitive to temperature? What about security measures to keep your items safe?

These are all factors to take into account when determining the value of a storage unit. By considering these factors alongside price, you'll be better equipped to choose the right storage solution for your needs. So, let's dive right in.

Factors Determining Storage Unit Prices

Location

In the UK, storage unit prices can vary widely depending on where you're looking. For instance, facilities in busy urban areas like London or Manchester may cost more due to higher demand and limited space availability. On the other hand, storage units in less densely populated areas or rural regions might offer more competitive rates.

When considering the location of a storage unit, it's essential to weigh the cost against convenience. While opting for a facility closer to your home might come with a higher price, it could save you time and hassle in the long run. On the flip side, venturing further away for a cheaper option might mean sacrificing convenience for cost savings.

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Size

In the world of storage units, size matters – but it's not the only factor at play. Storage unit prices are typically based on the amount of space you need to store your belongings, so it’s best to determine what size storage unit you need first.

In general, larger storage units tend to offer a lower cost per square foot compared to smaller units.

You can also maximise space when storing your items, allowing you to fit them into a smaller unit and reduce costs.
 

Storage Duration

When it comes to renting a storage unit, the duration of your stay can influence the price you pay. Many storage facilities offer flexible rental options, allowing you to cancel anytime by giving 7-30 days' notice

Many companies have introductory offers such as £1 for your first month or 50% off in the first month. It’s important to read the terms and conditions on these offers as you end up paying much more in the long term if your rental duration is longer than the length of the introductory discount.

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Insurance

Let's delve into another crucial aspect of renting a storage unit: insurance. Protecting your belongings while they're in storage is essential, and having the right insurance coverage can provide peace of mind in case the unexpected happens. Most companies charge around £10 - £15/month for a £2000 cover and around £20 - £30/month for a £4000 cover. 
 

Ensure that the policy provides adequate coverage for the total value of your stored belongings. Most self-storage providers give you several options for the amount they cover. It’s also worth noting that your existing contents insurance may cover storage, so it’s worth checking your policy before buying add-on self-storage insurance. 

Consider factors such as the replacement cost of items and any coverage limits or exclusions specified in the policy.

Add ons

Many storage companies offer add-ons like cardboard boxes and padlocks at their centres. A basic padlock costs an average of £11 in most storage companies. While these extras provide convenience, they come at a cost. It’s worth considering alternative options, such as getting cardboard boxes for free and purchasing padlocks elsewhere at a fraction of the cost.

Collection

Some companies offer an option to collect your belongings for you from your desired location. However, opting to transport your items personally is usually the more economical option, as it allows you to avoid additional transportation fees. Depending on your location and the number of boxes to be transported, companies charge an average of around £150 to collect them. 

Before deciding on a pickup service, it's essential to consider the associated costs and any potential access limitations. Some companies may restrict access to items once they've been collected and stored, so be sure to review the terms and conditions carefully.

Deposit and Administration Fees

Some storage companies may require a refundable deposit at the beginning of your booking, typically ranging from the equivalent of one week to one month's rent. Additionally, you might encounter one-off administrative fees imposed by certain providers.

Affordable Storage With Stashbee

While storage units are a great option, they do come at a price. Whereas in peer-to-peer storage, you can rent spare space in someone's garage, basement, loft, shed or spare room, which could be a more cost-effective alternative. 

Whatever your needs, you can find a range of convenient, reliable and affordable options at Stashbee with clear monthly pricing and no hidden costs.

Whether you're looking for short-term or long-term storage, we provide a platform to connect with trusted hosts offering secure and cost-effective storage solutions.