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Self storage very busy


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I went to my lockup last weekend. Every parking space in use, including 6 removals vans unloading. Never seen it so busy. If people are moving why are they putting stuff in storage? Perhaps wanted to empty a house to sell fast... But where are they living? Rentals? With family? Airbnb?

Or perhaps forced sellers (death, debt, divorce)?

I heard lots of people from London using the lockup.

I've been using this lockup on and off since 2010 and something is very different at the moment.

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- people moving out to the sticks from the big smoke

- issues with chains and needing to make it a smooth as possible such as moving into to rented

- people needing an office as their ‘box room full of crap’ is now very much needed as an office due to working from home 

- job losses leading to down sizing

- people working out with working from home they can live somewhere both cheaper and smaller and putting stuff in storage does help make it easier and the savings completely outweigh the cost of storage 

- lots of distressed sellers or all sorts of assets at the moment due to job losses, I have seen certain classic cars go for bargains recently as it’s a double whammy of motivated people needing to sell quickly due to job losses and winter reducing the demand for toys (more so than previous years). several times I have thought ‘there is a killing to be made if I had the space’ 

- job losses leading to moving in with relatives 

- people working from the storage as cheap office space 

- self isolating parents finally have a good excuse to kick out their young who can only afford house-shares 

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- people working out with working from home they can live somewhere both cheaper and smaller and putting stuff in storage does help make it easier and the savings completely outweigh the cost of storage

Or people clearing the spare room of furniture to make it into a better WFH space...?!

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Storage is not cheap, the only reason why someone would pay to store stuff is if they think they or others would want or need it at a later date, if they thought they might regret disposing or selling it, if they thought it was worth something or would be costly to replace at a later date..... or kept  for sentimental reasons like a family heirloom.

Practical reasons why would store.......letting go of an expensive rental property to consolidate living elsewhere for a time, saving a fortune on rent and giving a great opportunity to save?.....Covid has caused and made it possible for two separate households to live together as one.

One thing to be aware of is that the cost of the storage doesn't work out to end up costing more than the value of items stored.

Nobody really wants excess goods and chattels......far too much stuff floating around everywhere.

You don't need it and the kids don't want it......excess baggage to cart around with nowhere to put it.;)

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I have always been amazed at the prevalence of storage facilities in this country over the past decade. It might be age related but I dont recall so many in the 80's, 90's or even the 2000's.

Agreed.  Houses are smaller.  "Stuff" is cheaper.  Earnings are higher (certainly than the 80s and 90s).

Result = lots of things and nowhere to put them.

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Top of head thought........Brexit, storing items in bulk, non perishable food and drink that might in future have a tariff on them if no deal..... supply holdups etc,etc.......planning ahead of what could be?;)

It seemed to be furniture and possessions being moved in (everyone has to unload onto trollies, so you see what is being moved). No sign of beans and tinfoil hats :)

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Storage is not cheap, the only reason why someone would pay to store stuff is if they think they or others would want or need it at a later date, if they thought they might regret disposing or selling it, if they thought it was worth something or would be costly to replace at a later date..... or kept  for sentimental reasons like a family heirloom.

Practical reasons why would store.......letting go of an expensive rental property to consolidate living elsewhere for a time, saving a fortune on rent and giving a great opportunity to save?.....Covid has caused and made it possible for two separate households to live together as one.

One thing to be aware of is that the cost of the storage doesn't work out to end up costing more than the value of items stored.

Nobody really wants excess goods and chattels......far too much stuff floating around everywhere.

You don't need it and the kids don't want it......excess baggage to cart around with nowhere to put it.;)

This is kind of important. A lot of the time it is actually more cost effective to throw stuff away and rebuy it when you need it than it is to store it.

I have quite a bit of stuff in storage. That stuff is worth next to nothing to normal people, but would cost a lot to replace because it is specialist gear that I need once a year or so.

OP, I don't know anything about personal storage requirements. I can tell you though that a lot of businesses have downsized their space and moved stuff into storage temporarily while covid is on. In fact given the cost of renting space, you can probably make your money back on the first month of rental costs vs. storage costs if you have that flexibility in your rental agreements. Moving my gear was (quite literally) a pain though.

I would recommend if you are interested in storage to make a move, because a lot of sites are filling up.

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Agreed.  Houses are smaller.  "Stuff" is cheaper.  Earnings are higher (certainly than the 80s and 90s).

Result = lots of things and nowhere to put them.

+ traditional storage areas squeezed...gardens smaller,  no room for storage shed, garages more expensive, or garages demolished to build slave drone hutch new builds

Edited by Saving For a Space Ship
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I'd say everything, everywhere is at least as busy if not busier than I've ever seen it before... shops, roads, internet purchasing, car sales, house sales etc etc. 

Very strange recession we're supposedly in.

Not where it matters at the top. Central London still deserted, premium car sales plummeting, business flights non existent, top end restaurants closing for ever, I think the proles are having a good time on the furlough money but they have never been good at planning for the future hence most of them are three pay days or less from disaster

Its sort of like a body where the arms and legs are twitching but the heart has stopped

This big a hit will result in a pretty bumpy ride for millions next three years but I get the vibe why not its not like saving for the average person pays 

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- lots of distressed sellers or all sorts of assets at the moment due to job losses, I have seen certain classic cars go for bargains recently as it’s a double whammy of motivated people needing to sell quickly due to job losses and winter reducing the demand for toys (more so than previous years). several times I have thought ‘there is a killing to be made if I had the space’ 

Some of that is structural as people age, in truth there aren't many real classics outside Ferraris etc

The cars that were classics were from the 60's and 70's etypes, original minis etc now the buyer and its mostly men came of age in the 80's early 90's - Dagenham dustbins going for insane money Capri's £30k plus and Cosworths RS500's there is one  up for £1115,000k !

 

Edited by GregBowman
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I've heard (through a friend of a friend in the industry) that the majority of self storage businesses' income comes from house clearances. People can't bring themselves to throw away mum's old furniture and clothes, so they put them in storage until five years have gone by. By then, both the grief has subsided and they realize they are never going to sort them out, and they have no need for them

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I've heard (through a friend of a friend in the industry) that the majority of self storage businesses' income comes from house clearances. People can't bring themselves to throw away mum's old furniture and clothes, so they put them in storage until five years have gone by. By then, both the grief has subsided and they realize they are never going to sort them out, and they have no need for them

i know this will happen with my partner as their parents pass on.
Tons of useless old shite they will be too attached to, to throw away.

Not a single thing worth keeping, bar maybe some tools. 

Not looking forward to that battle. 

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Not where it matters at the top. Central London still deserted, premium car sales plummeting, business flights non existent, top end restaurants closing for ever, I think the proles are having a good time on the furlough money but they have never been good at planning for the future hence most of them are three pay days or less from disaster

Its sort of like a body where the arms and legs are twitching but the heart has stopped

This big a hit will result in a pretty bumpy ride for millions next three years but I get the vibe why not its not like saving for the average person pays 

Sadly very true, I hear lots of people saying the same, there was a bounce after all the funny money was spewed out but thats gone now and all we have left is the hangover and regret

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