How to Save Money & Split a Storage Unit with Friends

The world seems to be running out of space at every turn, and many homeowners and renters turn to self-storage to keep their belongings safe while saving as much square footage as they can. 

Units are often inexpensive, but if costs are a concern for you, it may be worth sharing a storage unit with one or more friends. Splitting costs can save you at least 50% on a unit while making the most of the space and sharing responsibility for loading, unloading, and organization.

Let’s go over the benefits of sharing a storage unit and how to go about dividing up costs while meeting legal standards and lease requirements.

Why should I share a storage unit?

It costs less per person

Larger storage units always cost more than smaller ones, but you’ll find larger units often have a lower price per square foot than a smaller unit. Splitting a $150/month 10’ x 20’ unit between three people will give you more square footage per person than renting a 5’ x 5’ unit for $50/month yourself.

You get more for your money

Larger units come with special features built in, like climate control and in-unit power and lighting. Sharing these costs with friends makes premium amenities like these more affordable.

You share more than just costs

Sharing a storage unit with friends helps build community with them, giving everyone shared responsibility for organizing their section of the unit. 

You can also ask your co-renters for help moving heavy items, and you can all keep each other accountable for keeping the unit clutter-free.

What legal and practical considerations come with sharing a storage unit?

Lease agreement requirements

Most storage facilities allow units to have multiple authorized users, but one person takes primary renter responsibility. Communicate with your friends about who will take that responsibility and how you’ll distribute liability for any damages to the facility or other fines from breaking the agreement (which, with proper communication, you won’t end up doing in the first place!).

Insurance and protection

Renter’s insurance often only covers one person by default, so be sure to add each of your co-renters to the policy individually. It may be worth looking into group coverage options to help you split costs and save more money. Make sure each renter documents their valuable belongings amongst themselves so they can receive accurate coverage.

Facility rules and restrictions

Be sure you only allow unit access to yourself and your co-renters, and follow the lease rules for how many other people are allowed access with limited key cards and access codes. Carefully read through the rules on visitors and guests so you don’t incur any fines from unauthorized people showing up at the unit.

How do I successfully share a storage unit?

Find the right storage partners

As with any roommate or other shared renting situation, make sure you only share a storage unit with people you fully trust. Close friends or close family are some of the best places to start asking; if you’re in college, sharing a dorm room with someone, ask them as well, as it’ll make moving in and out much easier. Vet your potential storage-mates to see how reliable they’ll be, and set clear expectations for them up front before making any commitments.

Take clear documentation of everything

Make sure everyone you’re sharing with has made a written agreement to share responsibility for payment, cleaning, and organization. Draw up backup plans if someone isn’t able to pay for their share in an odd month, and have procedures written up for moving out and sharing responsibility for cleaning out the unit.

Set up and organize practically

Divide up your space fairly and evenly; a storage-mate with several much larger objects may need more space than another, so divide up costs and responsibility accordingly. Draw up a map and label sections clearly so everyone knows where their belongings should go, and keep access schedules so everyone knows when everyone else is going to visit the unit.

Figure out how payments will work

The primary renter typically takes responsibility for payment, but the other people renting the unit often send the primary renter money to cover their share so they can pay directly. Set up regular monthly times for collection and use backup plans if someone can’t pay in a particular month. Decide how you and your fellow renters will split security deposits and fees as well.

What strategies can I use to get the most out of a shared unit?

Space division methods

When sharing a storage unit with friends, decide what system you want to use for organizing the unit. If you all have similar amounts of smaller items, use a grid system to evenly split the space. Otherwise, you can use zone-based organization and share space with friends who have similar items to yours. Make use of vertical shelving if you can to save space.

Labeling systems

Use a simple system, such as color-coding, to help renters know which boxes are theirs. Clearly label boxes and items so renters can tell which ones are shared and which are individual and personal. You should also consider a digital inventory mobile app to make a detailed list of every item and sort them by type or who is storing it.

Schedule coordination

Make a clear decision on who can access the unit when, and use a shared calendar to track these days. Set up protocols for emergency access if someone needs to break with the schedule and get something out on short notice.

What common challenges arise when sharing a storage unit?

Payment

Many people who share rentals end up not being able to pay their share for certain months. If someone can’t pay, have a plan to cover that share of the rent and set up a clear agreement for when they can make up for it. A renter who can’t keep covering their share needs to be talked to or removed from the unit entirely.

Scheduling conflicts

Clear communication between everybody involved in renting a unit is crucial for managing scheduling conflicts. If multiple renters need to access the unit at once, be polite and make sure no one gets in anyone else’s way. Have an action plan for anyone who needs to access the unit in an emergency, and have renters take responsibility for the unit when one is away on vacation or traveling.

Disputes

Make sure you’re clearly communicating about everything that occurs in the unit. A renter who damages or loses another renter’s item should take responsibility for replacing or repairing it. Have someone mediate any disagreements about space boundaries, and have cordial and quick procedures for when someone needs to vacate the unit with a minimum of fuss.

How do I get started sharing a storage unit with friends?

If you’re ready to find people to share a storage unit with, put out a call on your social media or directly message friends you trust. 

Set up meetings and agreements with the partners you choose to rent alongside so everything is clear and in writing before you sign any leases, and make sure you share any pricing comparisons between units with your friends.

Storage.com makes it easy to compare those prices and find units in your budget that allow multiple users.

How do I find the right storage unit for my needs?

By now, you know how to find friends to share a storage unit with and how to address any problems that might arise. You’ll save money, build community, and gain access to premium features and amenities without breaking your budget. Get in touch with trusted friends and start conversations about sharing units if you think it’s right for you.Looking for a unit to fit your and your friends’ belongings? Storage.com can help! Use our search tool to filter through storage facilities near you, compare prices, and start a booking online.