How Much Does It Cost to Rent a Storage Unit?

Whether you are moving house, renovating the office or need space to hold excess stock, it’s important to understand how much it costs to rent a storage unit so you can forward plan and factor in any fees.

There are plenty of aspects at play when it comes to the total cost of a storage unit, from location and size to amenities, meaning different facilities will charge different amounts.

To help you figure out how to make your budget work for you and your particular requirements, we’ve detailed the average storage unit prices and the additional costs you need to consider.

How much does self storage cost on average?

In their Annual Industry Report 2023, the Self Storage Association UK states that the average rental rate for a storage unit is £27.19 per square foot per annum. This is up 4% from the storage costs in 2022.

It’s important to note that the cost of a storage unit is dependent on location. To provide some clarity around how much this would cost you across the country, we’ve listed the average storage prices* in different regions:

• London: £39.26
• South East: £28.07
• South West: £21.95
• West Midlands & Wales: £19.62
• East Midlands: £19.16
• East of England: £29.99
• North: £20.87
• Scotland: £24.41
• Yorkshire & The Humber: £22.53

*The average prices above have been taken from the SSA UK Annual Industry Report 2023, which do not include VAT, insurance or any additional costs.

While the above storage unit prices represent the regional average, the exact price will vary depending on your specific location, availability, amenities, insurance and other factors. We’ll go on to discuss these in more detail.

What factors impact the cost of a storage unit?

The storage unit prices mentioned above are only a guide, meaning a self storage unit could be slightly cheaper or more expensive for you.

There are multiple factors which could impact the quoted price you receive when enquiring with a self storage company – let’s take a closer look at some of them.

Location

Depending on where you are in the UK, storage prices can differ greatly. Typically, storage facilities in Scotland, the North and the West Midlands will be much cheaper than facilities in London, the South, or the South East.

Think about how often you’ll need access to your belongings to help you decide whether you’re happy to travel further afield for cheaper prices.

Size and length of rental

While it may be obvious, the size and length of your rental period will impact the cost.

Make sure to work out exactly how much space you need to store your goods so you can compare quotes and prices from different storage companies.

Amenities

You may find that some storage facilities will charge higher prices due to their amenities. For example, some facilities may offer heightened security while others offer 24-hour access (though you may see this reflected in the cost).

Insurance

For both peace of mind and to meet the guidelines set out by the Self Storage Association, all items you place in storage should be insured to the correct value.

Most self storage companies have compulsory insurance for your items, offering to do it through their own insurance broker, or they’ll ask you to organise your own insurance. It’s important to research your chosen company and see if this is a cost that you need to include.

What does the self storage price include?

All storage companies will offer a basic level of security and services within their cost. Depending on your chosen provider, there will be a different level of service provided, so it’s important to check this before paying for your self storage. 

The cost of a storage unit will typically include the following:

• Access to your belongings within prescribed hours
• 24/7 CCTV 
• On-site staff to help you
• Free parking
• Efficient lighting

What additional costs should you consider?

Once you’ve done your research and found the base cost of your storage unit rental, you’ll still need to consider any optional (or essential) extras.

Make a list of what you’re looking for in a self storage unit to ensure you don’t miss anything – it’s also important to be aware of the additional cost associated with each request.

Padlock

Padlocks are not usually included within the storage rental, so you’ll need to make sure you have your own ready.

Depending on padlocks used by the storage facility, they can cost on average from £30-£40.

Deposit

Most storage facilities will require an upfront deposit. Sometimes this will be an advance payment on your rental costs, or a separate security deposit which is repayable when you end your agreement.

Packaging materials

To make sure your items are protected from damage and can be transported safely, you may want to purchase packaging material. This can include cardboard or plastic boxes, bubble wrap and packing peanuts.

What alternative options are there to self storage units?

As you can see, renting a storage unit can become quite expensive, especially when factors such as location and availability come into play.

On top of that, self storage facilities will have higher weekly costs in premium locations and when demand is particularly high, meaning typical self storage units may not be the best option for you.

For many businesses and homeowners, container storage may be much more suitable, providing a large, easily accessible space at a fraction of the cost. In particular, container storage is ideal for large, bulky items, machinery and equipment. 

Tips for getting the best self storage price 

Planning ahead of time can help you save money on your self storage. There are a few things you can try to get your storage unit cost down:

• Compare prices: It’s important to get a few different quotes to compare the prices you can get before making a commitment.
• Choose the right size: Be realistic about the size storage unit you need. Choosing the right size unit means that you stop yourself from paying for unnecessary space. Try our size calculator here to find out the perfect size for you.
• Check for hidden fees: Some storage companies have hidden fees such as administration fees, late payment fees and security deposits.  

How much does it cost to rent a container storage unit at Loft Self Storage?

At Loft Self Storage, we provide container self storage storage in Nottingham. The difference from self storage units is that we only offer one size, they’re stored outside and our fixed weekly rental price is noticeably cheaper.

Our 160 square foot container units cost approximately £30 per week, with an upfront deposit of four weeks’ payment. The only additional factors you’ll need to consider are how many self storage containers you’d like to rent and how long for.

And don’t worry – our container storage still benefits from strict security measures, including 24-hour security and trained staff on site from 6am-6pm.

Get a quick quote from our friendly team

If you’re interested in finding the exact cost of renting a storage unit in Nottingham from us, book your storage unit or room from us directly online.