Lease Agreements: Why?

By Alyssa Browning

Lease Agreements. Why?

**Disclaimer: We are not lawyers and do not give legal advice. This information is based on our experiences as owners and vendors in the self storage industry. If you have questions regarding legalities or state-specific laws you should reach out to your legal aid and/or state association.**

Creating a lease agreement can be a daunting task. Because of this, you may wonder if taking the time to create one is worth the effort. The short answer is absolutely! Lease agreements are one of the most important aspects of a self-storage business because it protects the facility owner and the business. Below are a few reasons why it is important to create a cohesive and complete lease agreement.

  1. Outlines the rules of the facility. A good lease agreement should reflect upon the rules of the facility. For example, it should outline the hours tenants are allowed to enter the facility, what the facility allows tenants to store in their units, cleanliness requirements, and even information about giving notice before vacating the unit.
  2. States require certain information. In most states there is information that is required to be given to customers. (Reach out to your state association to find out what your state requires.) It is easiest (and safest) to give them the information via a contract that they are required to sign. This protects you and your business in case of any legal issues.
  3. Legal standing for collection. Because a lease agreement is a legally binding contract it outlines the cases in which you are able to lock tenants out of their units. It can protect you from lawsuits regarding tenants being unable to access their belongings.
  4. Protects you from liability issues. Lease agreements typically include clauses to protect the facility owner from liability for a number of things. One specific liability clause mentions that the owner has no liability for tenants belongings or anything that happens to them.

These are just a few- among many- reasons why a lease agreement is extremely important to have and to always have signed.

**For more information on laws in your state, and requirements for your agreement reach out to your legal advisor or state association.**

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