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Do you have a storage facility with room for storing boats, RVs, trailers, and other vehicles?
You may have a rental agreement specifically for storing these vehicles at the facility. But what happens if you have an existing self storage tenant that decides they want to also store their vehicle on your property?
And what's the point of having addendums, anyway?
Check out this post to learn about addendums, how they can be used, and to grab your free vehicle addendum template!
Find the download form at the bottom of the page. And if you’re curious about the boat and RV storage market, check out this Guide to Boat & RV Storage!
Boat, RV, vehicle, and trailer storage has huge demand right now.
If you have extra room at your property going unused, allowing boats, RV, and other vehicles to be stored, there is a great way to add some revenue and make better use of your square footage!
With minimum adjustments to your business model and facility, you could better serve your customers and bring in more rent. And it’s even possible that a vehicle parking tenant eventually decides to rent a storage unit.
On top of having a good rental agreement in place for these customers, you should also have an addendum to the rental agreement for existing tenants that decide to start storing their vehicles while also renting a unit.
Addendums are often used as subsections or modifications to rental lease agreements or to add on new services to an existing agreement.
In some cases, you see addendums used to create a kind of modular rental agreement.
If you break down your rental agreement into a primary agreement and then multiple addendums, you’re able to pick and choose which parts of the lease apply to an incoming self storage customer.
For example, let’s say you have climate-control storage units, drive-up units with power outlets, and even vehicle storage. You have a portion of the lease covering each of these amenities.
One customer rents a storage unit with a power outlet and a vehicle storage space. Another rents just a climate-controlled unit. A third rents just a regular drive-up storage unit with no power.
If you have separated these sections of your self storage rental agreement into different addendums, you can have each tenant sign only the sections that pertain to their choices.
The proper use of addendums leads to less confusion and paperwork for tenants, creating an overall better experience for your self storage customers.
It also means that if someone chooses to rent a vehicle storage space after they’ve already signed their lease, you can just have them sign the addendum!
Of course, this isn’t legal advice, and you should always address matters concerning your rental agreement with a legal expert familiar with self storage in your area, as laws will vary.
The Vehicle Storage Addendum in our Operator Toolkit is just what you need if you’re allowing tenants to rent parking spaces in addition to their storage units.
This is a customizable template for your self storage business to make use of.
Each section of the form has clearly defined sections for you to fill out as the operator, placing your facility’s name and other key information where necessary to personalize your addendum.
This and more templates like it are included in our Operator’s Toolkit!
How are some more of our favorite posts for running your self storage business!
At StoragePug, we build self storage websites that make it easy for new customers to find you and easy for them to rent from you.