The LockTite Promise: Lock in your rental rate for 1 year!
When you store with LockTite Storage your rental rate is “locked in” for one year, guaranteed.
We believe in being transparent, so we won’t promise to never raise your rent. But, what we can promise is that your rent will never increase above our rates for new tenants.
When it comes to raising storage rates for current customers, there’s no set industry standard. Other than the standard 30 days notice, every storage facility has a different increase schedule. From my experience, a typical rental increase schedule looks like this – 6%-10% increase after 7-9 months and then again annually. There are some more aggressive schedules out there. I won’t name names, but larger companies will raise rates as aggressively as every 3-4 months and well above 10%. Especially if they used deep discounts to get customers in the door. Often, the rate paid by their current customers is far more than by new tenants. Does that seem fair and honest to you?
When you’re out shopping for storage here are some questions you can ask each manager:
- How often do you send out rent increases?
- What is the typical percentage of your increases?
- Will you raise my rent above the rate available to new tenants at the time of increase?
Again, there’s no set standard as to why companies choose to raise rents. At LockTite we to continue to provide our customers with the highest quality of self storage rentals and services. We continually reinvest in our properties, staff members, technology and other service areas. We feel these improvements and investments are critical to enabling us to continue to lead the industry
Find the LockTite location nearest you!