January 18, 2020 Blog Post No Comments

How Much Do Storage Units Cost Per Month in Australia?

The average monthly price for self-storage in Perth is ~$1,000.00 according to the search results of 95 stores in Perth, that’s ~$230 a week. However, when looking at the broader picture, it is a lot more complicated than just averages.

Most facilities have between 100 to 700+ units with lots of different shapes and sizes. Usually, one size makes up most of a facility. So, what are the most popular sizes in storage facilities?

Average Unit Prices by Size (AUD)

Extra Small Units 1.5m x 1.5mFrom $65$75 per month
Small Units 1.5m x 3mFrom $90$105 per month
Medium Units 3m x 3mFrom $135$200 per month
Large Units 3m x 6mFrom $250 – $374 per month
Extra-large Units 6m x 4.5m From $390 – $410 per month

The Most Popular Storage Unit in Perth

The biggest seller is the medium 3m x 3m units, primarily due to their value for size and the ability to fit 1 to 2 bedrooms of stuff inside these units. The 3m x 3m Unit is generally between $135 – $400 per month depending on the facility and the factors such as climate control and power to the Unit. The Medium size unit is ideal for most people looking to renovate a room or keeping your business stock in a secure location. Many storage facilities in Perth will have 60% of their capacity containing units of this size.

Depending on the height of your facilities units, some people could be getting 27 cubic meters (3m x 3m x 3m) for as low as $32 per week!

These medium sizes units are often in demand due to the competitive pricing and the ‘goldilocks’ sizes for most people. One last factor that makes this Unit worth its weight, is the how easy to fill with a standard car licenced removalist truck. Generally, one load is enough to fill these units, making them attractive options for quick home renovations.

What Determines the Monthly Price of a Unit?

  • Location of the Unit.
    • Inside vs outside.
    • Upper floor vs ground level
  • Total Sizes of the Unit.
  • Unit Powered or not.
    • Climate controlled or not.
  • Door Type (roller vs hinges)
  • Insurance/cover
  • Rental Trucks

Like most things in life, nothing is free, and the little luxuries end up adding up! Before you know it, a lot more than was expected is coming out of your bank account. Therefore, I’ve compiled a little list of all the price variants and bonus extra you may or may need for your storage unit.

Location of the Storage Unit from Home

The first and foremost most crucial factor in the pricing of your Unit is where is it located. Much like real-estate, it is all about location, location, location. Not only are we talking about where in the facility (e.g. ground vs 2nd floor) but also the distances from one’s house.

While most factors on this list have a set monetary value, distance, on the other hand, plays both on human psychology as well as price! You’ll see self-storage facilities throw around the distance value “only 5km from your home”, but why?

Most customers come from the inner 3 circles ~ 5 – 7km

The answer is quite simple. People are more comfortable when their stuff is within driving distance from home. While not surprising, this factor plays a significant role in whether someone will hire a unit or not. I’ve seen individual leave one facility as another one opens to shave 1km off their trip! Even when the new price is worse than the old facility, the factor of distance rules them all.

Location in the Storage Facility

The location of your Unit in the facility also plays a significant role in the price. Units that are closer to the elevator or entrance can cost more per square meter. From a real-estate point of view, these people are getting “prime real-estate” and are willing to pay for it too (people fight for these spots).

Ground vs 2nd Floor Units

Being on either the ground floor or 2nd floor can play a huge difference in the monthly cost of the same size unit. The contrast of going up the elevator to your Unit vs driving up to it on the ground floor can be significant. Take our 3m x 3m example from earlier, one flight of stairs can change a unit from costing $200 (ground) a month down to $135 (2nd floor).

Unfortunately, there is no hard and fast rule when it comes to pricing of the location in a facility. It all comes down to how much people are willing to spend, the more demand there is for a unit; the higher the owner can drive the price!   

Inside vs Outside Storage Units

Drive-up units outside the facility usually cost more (~375 per month) due to their ability to store vehicles. Most often these units are 3m wide, 6m deep and 2.7m high, allowing them to store vehicles of all shapes and sizes. Often the outside units also have the added perk of being 24/7 access due to not need to go inside the facility.

3m x 6m Storage units are large enough to cater for 4WD’s to vintage vehicles. A clean, safe and highly secure solution that protects your vehicle from the harsh climate and external environments. Furthermore, it will help you save valuable space in your carport or garage.

Storage solutions are not limited to just cars but also other recreational and commercial vehicles. Seasonally or weekend vehicles;

  • Motorbikes
  • Trucks
  • Jet skis
  • Scooters
  • Quad bikes
  • Off-Road vehicles

Motorbikes either classic, sports or vintage can be securely stored in medium units, and even can be brought upstairs in the 1.5-tonne elevator most facilities have. 

  • 3m x 6m Vehicle Storage – From ~$94 per week
  • 3m x 3m Bike Storage – From ~$34 per week

Total Sizes of the Storage Unit.

Is bigger better? Yes, when it comes to the best value for money, larger units are better per meter squared. A small (6 meters3) Unit can cost ~$70 per month, that is around $11.70 per cubic meter. Conversely, a large Unit cost ~450 per month (66 meters3), that’s only $6 per cubic meter!  

Storage Shed 6m x 3m
Storage Shed 1.5 x 3

Powered & Climate controlled Storage Units

A storage unit that also has power can be an attractive addition to the right buyer! The added benefit of power does drive the cost of the unit up to cover power consumption. Typically, the power consumption is agreed to beforehand and added to the monthly fee. Inline power meter is sometimes used to make sure tenants are not abusing their agreed-upon power usage.  

Climate control in storage units is a way to protect your sensitive equipment and belongings. Climate-controlled space guarantees that none of your valuables will be damaged due to temperature fluctuations.

Climate control is achieved through continuous refrigerated air conditioning to a unit ($kw/h). Each unit thermostat is set to the desired temperature depending on the tenant’s storage needs. Even during the hottest summer days and coldest winter nights, internal temperatures in these units stay the same. For example, it is recommended that white wines be cellared from 7-12°C and 12-18°C for red wines.

Most climate control space also ensures the air is fresh into and out of the Unit by using inline carbon filters, dust particles and other contagions are kept out of the Unit.

Door Type (roller vs hinges)

Most facilities will have a mixture of these two-door types. Rollers doors cost more to have on your Unit, however, the added benefits of being out of your way when moving stuff in and out, make it all worth it. Hinged doors, on the other hand, are usually the cheaper option.     

Insurance cost & coverage at storage facilities

Due to the safety nature of the industry, premiums are very low. Insurance coverage is optional and will immediately protect your belongs in the case of any of these events;

  • Fire
  • Storm and water damage
  • Explosion
  • Burglary
  • Public liability and property damage
  • Loss of rental income

As customers belongings range in value, a self-storage facility will offer individual insurance solutions based on their needs. Monthly premiums start as low as $10 per month and go above $100+ depending on how much coverage the tenant needs.

The Average Storage Insurance Premium Prices Based On Level of Coverage:

Coverage Amount Premiums (Monthly)
$5000 – $25 000 $10 – $35
$30 000 – $50 000 $42 – $65
$55 000 – $75 000 $70 – 94
 $75 000 & Above $100 – $1000

What are some additional fees in a storage facility?

  • Late fee (~$15+)
  • Lock cut fee (~$10+)
  • Auction fee (~$45+)

Storage Fees, like in any industry, are put into place to ensure that everyone plays by the same rules at the facility. Most of these fees are little in nature, but over time they can accumulate into significant debt. For example, being late for a payment can accrue ~$15 after five days. However, this fee does not stop accumulating, general after 14 days, another late fee of $15 will be added to the tenant’s debt, and so on.

Once the owing debt has reached the 45-day mark, a lock cutting fee ($10) and the auction fee of $50 will be added to the tenant’s account. Additionally, any cleaning or repairs charges are added to the tenant’s account. Once the buyer has purchased the auctioned Unit, the remaining debt is paid by the auction money.

Why do people buy storage units at an auction?

Like you may have already guessed, buying storage units at auction is like a ‘lucky-dip’. Some days you might get lucky and end up with a Unit containing bottles of Penfolds Grange or others just a heap of junk!

To learn more or to bid on a unit, visit the storage auctions website at www.ibidonstorage.com.au/faq

I also know Aussie’s love chasing a bargain and hunting for treasures, and that’s why I launched iBidOnStorage.com.au

Owner of Online Storage Unit Auctions.

Storage Facility Truck Hire In Perth

Don’t have a car large enough to move all your belongings into storage? No need to worry, contact your local storage facility and see if they have a hire truck to assist you. Often these trucks work on the policy of being free to move-in and paid for during move-out.

One example truck is the Isuzu NPR 200, a standard-sized removalist truck, that may be driven on a normal car license! Most trucks at a storage facility should come with an easy to use hydraulic tail lift to save your back in the process too. Most facilities will charge by the hour (~$20) and a markup on the cost of fuel (2 dollars per litter). Alternatively, some facilities will get the tenant to return the truck full with some proof of purchased fuel being required.

Written by Ethan Smith