How to price storage units
5 min read · updated
The price is the first thing a customer looks for and often the last thing operators fine-tune. A good price list is simple, fair and built on what actually sells at your place, not on guesses.
Start with the surroundings, not your costs
You rent out space whose value to the customer depends on what the competition offers. Collect the prices of similar units nearby in the same sizes. Your own costs (rent or instalments, energy, insurance, maintenance) set the floor, but not what you can charge.
A price per unit, not per square metre
The customer compares the monthly amount for a given size. Larger units usually have a lower price per square metre, otherwise the customer would have no reason to take more. Set a clear monthly price per size and check that the price per square metre falls as the size grows.
- One size, one price (per location).
- The same size at another location may have another price.
- State whether the price is net or gross, and stick to it.
Discounts for longer rentals
A longer rental brings you steadier income and less work. Reward it with a lower monthly price for half-year and annual rentals. The discount should be easy to understand: the customer sees the monthly price for every length side by side.
Deposit
The deposit covers damage and unpaid rent. Set the amount (for example as a multiple of the monthly rent), write it into the terms and explain when and how it is returned. An unclear deposit is a frequent source of disputes.
Seasonality and promotions
Demand fluctuates: moves, the end of the semester, spring and autumn for seasonal items. Use promotions in a targeted way (for example for units that have been empty a long time), not across the board. A blanket discount teaches customers to wait for the next promotion.
Adjusting to occupancy
Look from time to time at which sizes are booked out and which are free for long. A sold-out size with a waiting list is a signal for a higher price or for more units. A size that stays free is a signal for a promotion or a different mix. A price change for new customers should not change the rent of existing customers without notice.
Frequently asked questions
Should the price be on the website?
Yes. A customer who cannot see the price often asks elsewhere. A published price shortens the way to booking.
How often should I change prices?
A look at occupancy and demand once a quarter is enough. More frequent changes look chaotic and are hard to explain.
Can BOXLY handle prices by size and length?
Yes. You set the prices per size and location and for every rental length (monthly, half-yearly, annual). The customer sees them when choosing a unit.
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