We looked at aspects that influence the rental rates you could pay for a storage container in previous entries, and then we talked about taxes and fees that may be added on top of the leasing costs indicated. The previous essay discussed rental contract language that, if not read carefully, might have an impact on your storage container budget. In this post, we’ll go through several common rental contract conditions that, if followed to the letter, could cost you more money if you’re not aware of them.Find additional information moved here
First and foremost, let me declare that I am not a lawyer. If you have any questions or require guidance on any of these topics, contact your attorney.
Rent is usually paid in advance, but be aware of grace periods, which might range from five to thirty days. Once the grace period has expired, you are in default, and the lessor (them) can seek a variety of remedies from the lessee (you). Locking the container to repossessing it are some of the options.
Some leases may place you in default for early termination of the lease, in addition to defaulting for nonpayment. The “rental term” refers to how long you rent a container for. Monthly rental rates for one or two months are normally more expensive than three to six month terms, which are more expensive than ten to twelve month rental terms, and so on. If you rent a container for six months and return it after four months, the rental agreement may do anything from put you in default for the last two months to charge you a small early termination fee and release you from the remainder of the contract. Make sure you err on the side of caution and rent for the shortest time possible. If you leave before the end of the rental period, the contract usually continues on a month-to-month basis, but make sure it does not renew for another full term. If you choose a six-month rental and wind up requiring your container for eight months, make sure the container lease does not extend for another six months after the first six months.
Almost all of these storage container rental contracts include indemnity clauses, which are often highly “wordy” parts that effectively state that you will protect the lessor from all activities involving this unit. As a result, if someone is injured as a result of the container and sues the lessor (them), you will be accountable for the lawsuit’s defence costs as well as any court judgments. In most cases, I try to negotiate these indemnity portions so that one side covers the other.