What: An online company that connects homeowners online with people who need storage space
Expected pay: Set by you
Commissions & fees: 4.9% + $0.30 processing fee charged to hosts
Requirements: Be 18 or older; have storage/parking space available for rent
- Rental rates are set by the host.
- The site encourages hosts to set their rates around half the cost of renting a similar space from a professional storage facility.
- Payments are through direct deposit at the end of each month or rental term, whichever comes first.
- The site marks-up your space to pay for its services
- 5% of the rental price is paid by hosts.
- A sliding scale “service fee” on renters is also charged
- A $20 inconvenience fee is charged for cancellations
- There’s a $60 host eviction fee if you end the tenancy before the end of the term or with less than 30 days notice
- You can be held liable for damage to a tenant’s property
- Hosts should require a detailed listing of items being stored and the items’ condition to protect you from false claims.
- The site has a very limited “guarantee” that says it will cover losses to both the host’s and the renter’s property but it is at the site’s discretion.
- It is “secondary” coverage, so it only applies after your insurance is used
- It is a relatively young site