The business of self-storage is one that we love. We are passionate about connecting investors with properties that will provide income and stability for years. Whether choosing to operate the business in person or as an absentee owner, it’s important to understand the legal issues surrounding self-storage in Florida. The Coastal Storage team works to connect investors and equip them to be the best owner/operator with the most preparation available. First, it is important to understand why customers choose self-storage. Knowing why enables you to market effectively and efficiently to reach potential tenants.
Why do customers choose self-storage?
Customers choose self-storage for a variety of reasons. Tenants may be looking for extra storage for treasured items, need extra space when downsizing, business owners need storage for equipment, or HOA rules may prohibit storage on the property, and therefore outside storage is required.
Whatever the reason customers need storage, think of your business as the solution to all their problems.
Educate the customer so they can make informed decisions.
- Home renovation
- Redecorating
- Downsizing
- Decluttering
- Business storage
- Relocation
What are the Florida laws regarding self-storage?
Florida has laws regarding the operation of a self-storage facility. The laws are designed to protect both the customer and the business. The best protection for both parties is clear communication and a thorough lease agreement.
For complete information regarding the laws in Florida, find the detailed information here.
- Lease Agreement
- Payments, late fees, and liens
- Insurance
- Lease termination
- Living on site
Lease Agreement
When renting a self-storage facility in Florida, tenants will sign a lease agreement outlining the lease terms. This lease agreement should be created by an attorney in order to fully protect both the tenant and the business. The lease agreement will also detail things like the terms of the rental including rent payment, late fees, policies regarding non-payment, liability, insurance, and the rules of the business related to what is permitted to be stored.
Payments, late fees, and liens
Rent payment is due on or before the date listed on the lease agreement. Late fees are permitted in Florida equal to $20 or 20% of the monthly rent, whichever is greater. Once rent is 5 days late, the owner is permitted to lock out the tenant until the payment has been satisfied. Written notice must be given to the tenant and a period of 14 days is given for the tenant to recover their belongings. Once the payment has been satisfied, the tenant may recover their belongings. If the period passes without payment, the owner is permitted by law to sell the property to recover the lost rent. In the event of this occurrence, it is wise to consult an attorney to ensure the proper procedure is followed to avoid complaints from the tenant.
Insurance
In Florida, tenants rent self-storage at their own expense and risk. Renters should be encouraged to procure renters insurance on their own to cover damage to their belongings and personal property in the event of a catastrophe. Self-storage owners are also not liable for theft or damages to property, so renters must protect themselves and their property with insurance.
Lease termination
The lease agreement should cover the specifics of lease termination clearly for the tenant and the owner of the self-storage. If a self-storage lease agreement is year to year, 3 months’ notice must be given before the annual renewal to terminate. If the agreement is quarterly, the notice period is at least 45 days. If the agreement is month-to-month, the tenant should provide at least 15 days’ notice. It is important to check your lease agreement annually, quarterly, or monthly to avoid confusion and legal complications between tenant and owner. Additionally, lease agreements should be kept current and on file for both parties.
Living on site
It’s always interesting how common this question is, but in Florida, living in a self-storage facility is not permitted. This detail should be included in any lease agreement and posted in the business office. Violation of this law will result in the termination of the lease agreement.
At Coastal Storage, we work with clients to equip them to be the best owners and operators possible. We believe self-storage is the best investment you can make, and we will prove it to you. Call us today at 904-591-0140 to speak with one of our expert staff about your self-storage options.