- April 20, 2017
- Posted by: Imperial Self Storage
- Category: Imperial Self Storage NYC
In 2016, self-storage was estimated to be a $32.7 billion a year industry, with an estimated 2.63 billion square feet of available storage space (and growing!). That’s enough space to provide every man, woman and child in the US with 8.32 square feet of storage. Remarkably, in the last 40 years, the amount of living space per person has doubled, yet more and more people are renting self storage units. It seems that we have an overabundance of stuff and not enough space for it all. However, there are other common reasons to lease a storage unit. Here are the top five:
1. Accumulated Stuff
As already mentioned, people simply have too many possessions and not enough space for all of it in their homes. Some think the tendency to hoard goes all the way back to the Great Depression when poverty induced people to “waste not, want not”, and hang on to anything they could get their hands on. These tendencies were passed on to future generations, like the Baby Boomers and Gen-X’ers who were likewise reluctant to part with their belongings. These later generations were also born into a time of great prosperity following World War II, which enabled American consumers to shop more and buy more things than ever before. As a result, people began accumulating more furniture, clothing, toasters, electronics, and toys, than there was space for. Today, we continue amassing possessions, but remain hesitant to part with the old, fearing we might regret selling our old sofa or getting rid of that stack of clothing that hasn’t fit since our college days.
Sometimes people must vacate one place before another is ready and need to place their things in storage in the interim. Many moving companies offer temporary storage space for this precise reason. Some homeowners must move their personal belongings out of their current home to better stage it for resell or must place their things in storage while they search for a new place to live. Some people are opting for portable self-storage units rather than moving vans so they can pack their stuff right in their own driveway and have it delivered to them at their new home. If there is a gap between when they leave their old home and when their new one is ready, they can just store the unit away until they are ready for it.
3. Travel or Temporary Assignments
Students may place their things in storage for a gap year while they are traveling abroad, and military personnel may do the same if they are on an extended deployment. Others, like teachers and clergy, may take a year or more sabbatical and store their things while they spend their time traveling. Storage is the perfect solution for those who know their time abroad is temporary and want to travel unencumbered but hang onto their belongings for a future home.
4. Residential Renovations
Many people choose to put their belongings in storage during a major home remodel or renovation to make it easier for the work crews to do their job. In other cases, furniture doesn’t necessarily need to be removed, but people may place it in storage anyway to protect it from being damaged or ruined by careless workers, or potentially stolen when the home is sitting vacant.
5. Business Purposes
Many businesses will use self-storage units as a place to store temporary or excess inventory, documents, office furniture, and equipment or the tools of the trade for seasonal businesses. In a place like NYC, it’s much cheaper to rent a storage unit than to rent additional office space, especially for items that are infrequently used. From wholesalers to hospitality businesses to contractors, renting commercial storage space is a great solution for many businesses.