Storage Rental Tips for Landlords
Storage leases can be a tricky subject, and they become even trickier depending on what type of space you intend to rent out (i.e.: land, a driveway, a garage). Leases for storage rentals share the same essential details as that of a regular lease. In other words, the contract should clearly outline how much rent will be paid, how it will be paid, as well as any fees and deposits. The contract should also mention what constitutes a late payment and the fees that may be attached to those late payments. Be very detailed on what the tenant can and can’t use the space for. For example, if the property is private, you may not want them accessing the space at all hours of the day and night. You may also wish to outline what the space can be used for. Renters may be prohibited from doing work in the space. However, if you do allow it, it’s worth explaining what type of work is allowed and any liabilities. Make sure to provide a general store liability clause and you may also wish to throw in terms explaining that tenants must accept the unit as is.
This update is by Livo, a rental optimization platform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more. Please call 833.333.5486 today to learn more.