Mini Storage Rental Agreements

As a storing space operator it is important that the mini storage rental agreement that you sign with your various customers safeguards your interest without compromising on theirs. More and more customers are filing unreasonable lawsuits today. If this happens with you, it can impact your earnings and image. It is best to ensure that there are no loopholes and gaps in the understanding that you have with your clients as regards liability for things beyond your control.

Follow the tips here to see how you can strengthen your legal position by including the necessary clauses in the mini storage rental agreement .

1. Limited Liability Or Value Limit – The law allows you to keep a ceiling on the extent of damages that you are liable to pay in case it can be proven that they were caused due to the operator negligence. Without this you may be responsible for the entire stated value of the items placed in your care. Such a situation can close down your business.
2. List All Applicable Fees And Penalties – While the laws permit the charging of specific fees to your customer, it may not be known to the client. Ensure that every single fees, customer liability and penalty is clearly mentioned with the amount and the circumstance in which they are applicable. For example these could include the late payment fee which should mention the date by which the rent is to be paid and how much interest or penalty charges you need to pay extra in case not the rent is deposited on time. It is wise to cite all prohibited activities like living in the unit, housing animals, etc which could result in the termination of the agreement. Further, you should try and include the remedial measures that could minimize your losses in case the above activities occur. Do you get a penalty, if so then how much and can you sell the goods stored to recover it.
3. Mediation Clause – This allows for a peaceful settlement of a dispute without costly court expenses. Basically each party is given an opportunity to meet and hear the other person side of the story with a neutral third party present as a facilitator. This is a better idea that wasting time and money going to court to solve disputes on small amounts.
4. Release of Liability Clause – This is one of the most important clauses in the mini storage rental agreement which needs to be worded carefully to include all the eventualities in which you do not think you should be help accountable or liable for damages. It is important to get legal advice when you draft the liability clause to ensure its validity lest the customer contests it later.

After you have created a draft of the mini storage rental agreement that meets most of your requirements, go online and check out some of the sample drafts available there before you finalize it. It is also important to involve the prospective customer and make him or her understand each clause to prevent any ill will later. The mini storage rental agreement is a statement of your position. Getting a person to sign on it without reading or understanding its implications is asking for trouble. It is important that you do cheat the customer or compromise his position in any way. A good contract should serve the needs of both the parties.

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.

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