What is a Storage Lease Agreement Review?
A storage lease agreement is a legal contract that outlines the terms for a tenant to rent a storage space from a storage facility owner or warehouse owner.
If your storage lease agreement has already been drafted, you’ll want to check all its terms to ensure they're accurate to protect both parties.
Read the rest of this article for tips on how to review a storage lease agreement, what key terms to check, and why hiring a lawyer to provide a legal review of the contract can help you.
What are Key Terms to Review in a Storage Lease Agreement?
A storage lease agreement usually contains the following terms:
- Storage description. Check that the storage unit is properly described, such as by including its unit number and size.
- Payments. All payment terms should be outlined, such as monthly rent amounts and payment deadlines.
- Usage. Confirm that storage unit uses are explained, including prohibited uses such as storing dangerous materials.
- Insurance. The agreement should state which party has to take out insurance to cover the goods. It’s usually the tenant’s duty.
- Default. If the tenant doesn’t pay rent on time, the agreement must explain how this is handled and what happens to the goods.
- Access rights. Check that it’s clear when and how the tenant is allowed to access the storage unit. This should include details such as access hours.
What are Tips for a Storage Lease Agreement Review?
When reading through a storage lease agreement, you should pay attention to some important aspects of it so that it’s precise and you’re not subject to unnecessary risks.
Understand all Costs
The storage lease agreement should specify all the costs included in the agreement, such as deposit amounts, admin and security expenses, and more. Check if the tenant is responsible for getting insurance to protect their goods.
Verify Liability
Since goods are involved, the storage lease agreement must explain which party is responsible for damage to them or if they’re stolen. As the tenant, be wary of anything that states the landlord isn’t responsible for anything, as this could cause you to take on unfair or unnecessary financial risks.
Clarify Storage Unit Access
The agreement should explain how and when the tenant is allowed to access the storage unit. This should provide details, such as if missing rental payments can cause a tenant to lose access to their unit.
Explain Maintenance
This is something that you might not consider when reviewing your storage lease agreement, but it’s important as it outlines parties’ obligations. Consider which party will repair the storage unit, such as if there are leaks or broken locks. This will also help you to identify your expected financial duties.
Flag Vague Default Provisions
What happens if the tenant doesn't commit to their payment obligations must be clearly defined. The storage unit owner might adopt remedies such as unit lockouts or penalties. If these aren’t clearly specified in the agreement, it could result in misunderstandings or disputes.
Do You Need a Legal Review of a Storage Lease Agreement?
If your storage lease agreement is simple and easy to understand, you might not need to hire a lawyer to review it. However, there are some common reasons that warrant a legal review of your contract. These include if:
- The lease is a long-term agreement.
- The lease has confusing terms that require clarification.
- The lease is one-sided, such as by favoring the storage unit owner.
- The lease involves storing goods of a significant value.
A qualified lawyer can help you in various ways during a professional review of your storage lease agreement. They’ll:
- Unpack any legal jargon in the agreement so that you understand everything you’re agreeing to.
- Check all lease terms, such as effective start and end dates and how you can terminate the lease early.
- Consider rental amounts and extra expenses so you understand all your financial obligations.
- Confirm what you’re allowed to store and what’s prohibited to prevent disputes.
- Flag anything vague or unclear in the agreement so that they can make revisions to it.
- Determine your liability and if you’re responsible for taking out insurance.
- Negotiate any terms in the agreement that you’re unhappy with by discussing them with the other party on your behalf, if this is required.
Where to Find a Lawyer to Review Your Storage Lease Agreement
If you’d like to hire a lawyer to review your storage lease agreement, using an online legal platform makes the lawyer search an easy, fuss-free process. These networks enable you to access qualified lawyers who are experienced to help you, without leaving your home.
ContractsCounsel is one of the largest online legal marketplaces where you can connect with a curated network of qualified, experienced lawyers. All lawyers on the platform have been vetted and can assist you with reviewing your agreement.
It’s easy to ask a lawyer on the platform to review your storage lease agreement. Here are the steps to follow:
- Go to the ContractsCounsel marketplace.
- Post your project for free. Include a few details to help you find the most suitable lawyer, such as if there are specific sections in the agreement you’d like them to review.
- Wait for bids. Receive multiple bids from lawyers on the platform who have the experience to help you.
- Review the lawyers’ information. The platform provides lots of lawyer information you can access, such as the lawyers’ location, client ratings for previous projects, expertise, and credentials.
- Choose a lawyer who matches your requirements and hire them to review a storage lease agreement for a flat fee.