Storage Lease Agreement Template

A storage space lease agreement is a legally binding document between landlords and renters. It is necessary when the parties want to store objects in a commercial storage facility. The lease agreement for a storage unit specifies what objects it will hold, as well as the rates and costs. Edit this template on Lawrina in minutes and get a complete PDF document on your device or inbox.

Template Description

A storage space lease agreement is a legally binding and enforceable contract between a storage facility owner and a tenant for the use of a storage unit. As a written agreement, its main objective is to document the information that constitutes the engagement between the two parties regarding storage units for lease. For example, the storage space lease agreement ensures that the landlord cannot unilaterally increase the rent payable and that the tenants cannot vacate storage units without following the procedure outlined in the lease agreement. A comprehensive storage space lease agreement template contains clauses that address rent payment terms, types of items the tenant may store in the unit, prohibited items, the tenant’s access to the facility, liability, and any insurance requirements.

What Is a Storage Unit Lease Agreement?

A storage space lease agreement is an agreement between a lessee and a lessor that outlines the rules relevant to the parties’ arrangement. A storage space offers a safe and secure place — a storage unit, a barn, a garage, or any open or enclosed area fit for the purpose — for the lessee to store goods that he or she cannot otherwise keep at home.

The storage space lease agreement articulates the terms of the engagement, including the rules and responsibilities of each party. Working with a carefully drafted storage space lease agreement template can help to ensure that both parties have sufficient legal protection over the lease term. A detailed storage space lease agreement also provides transparency between the parties, clarifies essential aspects of the engagement, and aligns to relevant state and federal law.

Parties of the Storage Space Lease Agreement

A storage space lease agreement is a binding document between two parties whose rights and responsibilities pertaining to the lease of a storage unit are articulated in the agreement. The parties are as follows:

• Lessor — Also called the warehouse or facility owner, the lessor to a storage space lease agreement is the party who owns the storage facility that is available for rent; and

In most cases, the lessor prepares the storage space lease agreement after the lessee agrees to the terms. The renter may have little say regarding the provisions and the responsibilities assigned in the storage space lease agreement. However, prudent storage facility owners usually take the time to explain the terms to the lessee and secure their consensus and commitment to observe the requirements of the storage space lease agreement.

Key Terms

The language in contracts is often complex. The following are some of the most complicated clauses, words, or phrases found in a storage space lease agreement template:

1. Rent abatement clause — This clause provides that, during significant repairs or in the aftermath of major natural disasters that undermine the stability of a unit, the lessor agrees to charge a reduced rent or cancel the rent due.

Apart from these legal phrases, a storage space lease agreement is usually straightforward. However, should you find something in the document that you need help understanding, consider discussing those provisions with a local attorney.

What Is Included in a Storage Space Rental Agreement?

Specific provisions must be included in a storage space lease agreement template to make it legally sound. These include the following:

1. Description of the parties — Clearly describe the parties in the agreement by providing their legal names and addresses. The storage space lease agreement should also contain a description of the nature of the storage space being made available to the lessee, including the storage unit number and location as applicable.
   
2. Terms — Articulate the duration of the rental period, providing specific start and end dates to avoid misunderstandings and conflict. Also note that both parties agree that the storage space is being leased “as is” to limit liability for any pre-existing issues.

How To Write a Storage Rental Agreement

A free printable simple storage agreement template can be used to establish a mutual understanding between the lessor and the lessee. Ensure that the lessee agrees to the rental contract terms by following the steps below.

Establish a Payment Plan

A well-written storage space lease agreement template will have space to indicate the payment plan. Discuss the rent amount, frequency of payment, and any applicable fees with the lessee. Be sure to specify the exact days when the rent will become due and establish penalties for late payments if necessary. Most importantly, ensure that the lessee understands all obligations regarding payment, and be sure those obligations are clearly stated in the storage space lease agreement.

State the Rules

Before signing a storage space lease agreement, explain the rules that guide the use of the premises during the term of the lease. The following should be clearly stated in the contract:

Security measures — Communicate any potential security measures that the lessee must observe, such as access codes, hours of operation, or other relevant information.

Alterations and repair for damages — Discuss the extent to which the lessee can alter the premises, if any, to make the space more accommodating. Further, confirm what damages the lessee will be responsible for paying and that the lessee agrees to pay for such damages prior to retrieving his or her property.

Subleasing — Inform the lessee of any circumstances under which subleasing is allowed or if subleasing is strictly prohibited.

Cancellation — Set clear expectations of what the lessee should do upon cancellation of the storage rental agreement. In the contract, make it clear that the lessor never assumes responsibility for the items in storage and gives the lessee a specified amount of time to remove his or her property from the storage unit after termination of the contract.

Clarify the Terms

Agree on the terms of the storage space lease agreement, especially on details such as the start and end date of the arrangement. Further, specify whether the contract is for a fixed term or month to month. Discuss the process for renewing the storage space lease agreement and any notice periods for termination.

Review the Limitations

A storage space lease agreement must include a section to articulate the limitation of use. These rules establish the facility’s safety and security for other renters, protect the lessor’s rights, and facilitate compliance with state law. Examples of possible restrictions to impose include:

Usage restrictions — Ensure that the lessee acknowledges that the unit should only be used for the storage of personal property, excluding perishable goods, flammable items, hazardous chemicals, live animals, and illegal substances.

Care of the premises — Include in the storage space lease agreement a clause that prohibits the lessee from undertaking activities that would damage the building. Also emphasize that the property inside the unit is the sole responsibility of the lessee.

Alterations — State the extent to which the tenant is allowed to make structural or permanent alterations to the premises.

Total value of stored items — Set a limit in the lease agreement for the full value of stored items as desired for a risk mitigation strategy. Minimally, specify in the storage space lease agreement that the lessor hereby is released from any liability arising from storing goods.

When To Use a Storage Space Lease Agreement

A storage space lease agreement outlines how the lessee should use the premises and lists any prohibited activities. The agreement is an essential document for each party when one party is renting a storage facility. By signing the storage space lease agreement, both parties are hereby agreeing to be bound by the terms of the contract.

Common Use Cases

If you are a storage facility owner, you can use a storage space lease agreement sample to create a legal contract for the rental of a storage unit for long-term or short-term uses.

Other businesses can use a storage space lease agreement if they offer storage services incidental to their core activities. Such companies may include:

• Galleries — Art galleries generally use lease agreements for artists who want to store their artwork in the gallery storage space.

When Not To Use the Storage Space Lease Agreement

Certain circumstances do not call for a signed storage space lease agreement. They include the following:

1. Informal arrangements with family or friends — When making informal arrangements with a friend or family member to store some of their goods, you do not need a storage space lease agreement.