Rent your storage space discussion

128 Posts

Hi all, this is a special discussion as part of the Boost Your Income guide, on renting your storage space to make extra cash.
We want to know if you've used Storemates.co.uk to find or rent spare storage - how much did you make, and did it all go smoothly? Would you recommend it to others? Just click 'reply' to add your feedback,
Thanks for your help,
MSE Rose
We want to know if you've used Storemates.co.uk to find or rent spare storage - how much did you make, and did it all go smoothly? Would you recommend it to others? Just click 'reply' to add your feedback,
Thanks for your help,
MSE Rose
0
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I'll give the site a go if I can find some like minded people in my area, the profiles seem very personable, and my clutter isn't really worth insuring.
Part of my loft is used to store the possessions of somebody who used to rent one of my bedrooms - and I don't charge him anything for this. Hence my interest.
Although this looks like an easy chance to make money, I'd be very worried about questions like this:
- How do you know what somebody is storing in your property? There could be illegal items such as drugs or weapons hidden in the boxes. What if the police search your house and find this? What if there is a dispute over ownership of the drugs? I wouldn't want to get mixed up in that kind of thing.
What are you going to do if they stop paying? Seize their stuff, dispose of it if it's worthless? What if they then decide to claim against you?If I was looking to store my own possession in somebody else's house then I would be concerned about:
- What happens if your stuff gets lost or damaged? What if the roof blows off in a storm?
- What if your stuff damages their property - e.g. something leaks and causes a stain?
- If someone is renting out part of their loft for £10 per week then maybe they have money problems. What if their house gets repossessed or they get evicted (if renting)? What if the bailiffs come round and take your stuff, assuming it belongs to the occupant? What if they're SO desperate that they sell your stuff?
What about access to the items?It's all very well to say you have a contract, but how are you going to enforce it? How could you even prove what was in the boxes?
If people know each other then fair enough, but otherwise I urge anyone considering this to exercise extreme caution!
!!!!!!, a tent and a few camping bits that fir in a car boot would take-up a small amount of cupboard space, so are not worth paying storage fees on.
As for the risks involved, what about the household insurance?. Surely this would be classed as commercial use and therefore items stored would not be covered by contents insurance.
Also, doing this could incurr council tax changes and possibly even require you to submit a Tax return each year.
I feel the cons outwiegh the pros on this one.
Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)
3-6 month EF £0/£3600 (that's 0 days worth)
No, as only household items are being stored there is no change of use and it certainly wouldn't affect the value of the dwelling concerned.
Would you need to notify your house insurance company?