Use this template to keep track of consumers’ monthly rent and hold customers accountable for what is due.
Running a storage facility?
While running a storage facility, the main expense to record is rent. Typically, storage facilities only rent out units, making rentals their primary source of income. Establishing a solid invoice pattern can help owners and renters acknowledge their month-to-month expenses.
Our free storage facility invoice template includes:
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- Description
- Quantity
- Pricer per unit
- Amount
- Discount
- Total
- Comment section
Click here to download the word document version of a storage facility invoice template.
What is a storage facility?
Storage facilities are locations that rent out space to customers who are interested in additional storage for their belongings. Individuals who have items they do not have enough storage for within their homes, and individuals who are interested in tidying up their homes will consider renting or purchasing a storage unit. Customers have the ability to rent out small and large spaces both short and long term. Items most commonly seen throughout storage facilities are antiques, books, furniture, seasonal decorations, and cars.
Starting your own storage business
Starting your own storage business will consist of a lot of planning. Once the business has been established, maintaining the facility will follow a simple process. Consider the following if you are opening a storage facility.
- Considering costs
Map out how much money you are expecting to spend when starting your storage facility business. Decide if you are buying a facility, or building a facility from scratch. The cost of buying, building, construction, marketing, loans, and staffing should be included in your budget. Once a budget has been set for your business, examine ways in which the company can make money to pay off debts, and eventually make a profit. Determine the cost of each unit per size, and consider the following ways to make extra money.
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- Selling of packing tape, boxes, and locks
- Renting out moving supplies such as dollies, furniture pads, and trailers
- Past due fees
- Business Location
Before buying a storage facility, or land to build a storage facility, research the area you are interested in. Make sure your business location is close to housing tracks or near a populated area. Furthermore, explore the area, the people, and the estate of the housing around you. This will ensure there is traffic within the area of your business, and may also determine the pricing of the storage units. The chances of receiving renters in a populated, high-income area are very likely.
- Develop a contract
In order to avoid disagreements with consumers, develop a solid contract for the duration of the unit rental. Thoroughly review the contract with the renters and provide them with a copy of a signed contract. The following questions and considerations should be included in the contract.
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- Times the storage facility is open
- Accessibility of one’s storage unit
- Has a copy of a photo ID been provided?
- Who has access to the storage unit?
- Is the cost per unit and size included?
- What is not permitted in a storage unit?
- Insurance policies
- Security guidelines
- Rent due date
- Insurance and licensing
A lot of storage facilities make it a requirement for customers to purchase insurance for their units. It is important to offer tenant insurance in case of a natural disaster or accident. Customers have the choice of using their own insurance or purchasing the insurance you offer. Furthermore, depending on the state your business resides in, storage facility companies need to stay up to date on licensing requirements and guidelines. Obtaining the correct licensing and requiring insurance will keep you and your business safe.
FAQ
Can customers buy a storage unit?
Storage facilities normally do not offer sales on storage units. However, if a customer is interested in buying a storage unit they could contact a facility that sells storage containers. Storage companies usually own a large facility with a large number of storage units available and rent them out to customers for a desired amount of time.
Who typically rents storage units?
A lot of people are interested in storage units to declutter their homes. 1 out of 10 people invests in a storage unit. Here is a categorized list of who is more likely to rent a storage unit:
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- Those who are joining the military
- Those who are moving away for college
- People who are moving
- Vehicle collectors
- Businesses that need additional space
Is the storage facility invoice template still beneficial if I am renting out storage units only?
Even if your storage facility is renting out storage units only, the invoice template is still very beneficial and will allow you to keep records of rent. Our free template is designed for you to make any necessary adjustments regarding the unit and hold your customers accountable for the rent that is due.
When do I send my customers an invoice regarding rent?
The business owner normally decides when they would like to charge rent. Storage facilities usually charge rent on a month-to-month basis. Our storage facility invoice template allows customers to easily understand the purpose of the invoice that is being sent.
Click here to download the word document version of a storage facility invoice template.