In Toronto, finding a place to store your things can be challenging. With so many choices, it can take effort to figure out which is best for you. You also have to figure out how much storage units cost and how much you can afford.
In this post, we’ll talk about how much self-storage units cost in Toronto. What makes the price of these units change? Keep reading to find out more!
How much does it cost to rent a storage unit?
Canada’s average price for a storage unit is $1.75 per square foot. Canada is a big country with a lot of room. It would make sense for storage units to cost less to keep up in places with fewer people. Even though storage units are available everywhere in Canada, they tend to cost more in big cities like Toronto and Vancouver.
Storage units in Toronto cost an average of $255 per month. Prices will be different because of the things listed above.
Prices start at $40 per month, but this can change. Shopping around is the best way to ensure you get the best deal.
Many places that rent out storage space will only put their prices online. Instead, you’ll have to send in a request. Storage facilities can help you determine what you need and your choices. You may have to pay more if you store a lot of things.
Why are the costs of self-storage going up?
In Toronto, the number of people looking for self-storage units has increased over the past few months. This could be because of the COVID-19 epidemic, which caused more people to want to store things. This could also be because Canada needs more places to store things. In Canada, there are only 3,000 places to store things.
Toronto now has a bigger market for storage units because more people want them. But if the number of people who want something goes up, the price may go up too. Because more people need storage space, facilities will have to charge more.
Due to a boom in the self-storage industry, which has caused rental prices to skyrocket and created fierce competition for space, prices have gone up.
Things that affect the price of a self-storage
How much you pay per month for a storage unit in Toronto will depend on more than just how many people are looking for storage right now. Here are more details about each one.
Location
The location of your storage unit will affect how much you pay for it and how much you need to pay for insurance. When looking for cheap storage units, you should think about both.
People usually pick units that are close to where they live. But this can make the price go up or down. A facility in the middle of a city will usually cost more per unit than one on the city’s outskirts.
Sizes
As we’ve talked about, the bigger the storage unit, the more it costs. We suggest talking to potential storage facilities about what you want to store and what size storage unit they think you should get. If you plan to use the storage unit for a long time, consider whether you need a bigger one.
Insurance
Consider the insurance cost, as many storage facilities require customers to have it. This might be possible if you have renters’ or homeowners’ insurance. Depending on how much your things are worth, you may need to buy more insurance.
Climate
Most of the time, climate-controlled units cost more than those that don’t. A climate-controlled unit is an excellent choice if you need to store valuable items or things that can’t handle extreme temperatures.
Seasonality
The storage units are open all year, but the prices can change based on the time of year. The summer is the busiest time for self-storage units because college students are often on break and need a place to keep their furniture. Many businesses also get their Christmas stock in the summer, and they need storage space to keep it for a few more months.
Because of the high demand, summer is a great time to rent. In general, prices are higher in the summer. Prices usually go down in January, when many people move out of their apartments.
Special Deals
Storage facilities in Toronto often have sales on self-storage units at certain times of the year. These deals can be anything from a discount for a month to a lower rate for a certain amount of time.
If you want to find the best deal on self-storage units in Toronto, you should look into storage facility discounts. You want to ensure you know what your contract says so you don’t pay more than you should and then feel bad about it.
Extra charges for facilities
Some facilities offer extra services that can be added to the price of their units. You can add options like security features, access 24 hours a day, or a mail-handling service. You should pay for these extras.
One Last Thing
You can rent a self-storage unit for as little as $40 per month in the GTA. This depends on the size of the storage unit you need. To ensure you get the best price for what you need, you should consider all your options and consider the above.
