Consumer adviser Clark Howard is warning consumers that the cost of storage units may be significantly higher than initially expected due to frequent rent increases. Howard suggests that those using professional storage should consider prepaying at introductory rates or being prepared to move their belongings to secure better deals.
The warning comes as many consumers are drawn in by low initial prices to move their items into a facility. Once a customer is settled, storage businesses often implement a series of rent increases that can quickly exceed the original budget if the consumer does not take proactive steps.
Howard, who describes himself as a veteran of using storage units, noted that he has experienced the cycle of price hikes firsthand.
“You ever been burned by having your stuff in a storage unit?” Howard asked. He explained that consumers often see a “great deal” to move in, but then become “comfortable” and fail to act when the rent begins to climb.
According to Howard, these price adjustments are rarely one-time events. Once the initial period ends, facilities may implement a series of consecutive raises.
“You’re going to get another rent increase and then another and then another and then another and then another,” Howard said. This pattern can lead to costs that far outweigh the original price agreement.
To avoid these recurring hikes, Howard recommends looking into prepayment options. He suggests that consumers should determine if they can afford to pay for the entire expected duration of the storage at the initial introductory price. This strategy allows the customer to lock in the lower rate before the facility can implement standard increases.
If prepayment is not an option, Howard advises consumers to remain mobile and willing to relocate their property to different units or facilities. He shared that he has personally moved his belongings within the same facility multiple times to maintain lower costs.
“I was in one storage facility where I move my stuff to different units twice just to get better deals,” Howard said. “It’s your money.”
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