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Store more stress less
The self-storage industry is going from strength to strength locally, with an increasing number of users signing up for a little bit more ‘cupboard’ space to call their own. Jane Drew reports
There are 101 reasons why people worldwide opt for self storage. These range from creating more space for living to temporarily having no home at all. In Hong Kong, the industry is relatively new, having been around for a little under a decade, but it is gradually gaining momentum as people cotton on to the benefits of being able to store personal effects outside the home.
“Currently, there are about 60 operators running a total of approximately 180 self-storage facilities throughout Hong Kong. This amounts to approximately 2 million square feet of storage space or 0.28 square feet of storage space per capita,” says Kevin She, CEO of SC Storage Group. “Compare that with the U.S. where self storage has a 40-year history, with 4 square feet of storage space per capita, and Europe with 2 square feet per capita. Thus, the growth potential for this industry in Hong Kong is very bright.”
You can now find specialist facilities catering for the storage of not just generalhousehold goods but also bicycles, fine wines and office supplies. “There are many reasons why all kinds of businesses need self storage,” says She. “These range from creating a territory distribution point for a sales team to a mini warehouse to store trade supplies.”
Of course what individual households want from a self-storage facility also varies tremendously. Renting a unit can be a boon if you are looking to sell your home and want to declutter temporarily to attract buyers. It’s no secret that the less cluttered your flat, the more spacious it appears, and removing surplus furniture is one of the first recommendations you will get from your realtor. Self storage is also of help to those who are moving home, or even building a home, and want somewhere to stash their belongings short term.
Many Hong Kongers, however, choose to rent a self-storage facility over the long term to improve their way of life. In our pint-sized flats, living space is at a premium and having an external storage unit is a good substitute for a garden shed, an attic, or a storeroom. Self storage, then, is proving essential for those who have a tendency to hoard – to hold on to things that they do not need on a day-to-day basis.
There are many examples of people renting a storage space so they can continue to collect items that they can no longer store in their home. Self storage enables you to clear some space, while fulfilling your need for retaining and gathering items. It is not uncommon for individuals to have two or more storage units which they often visit to look through their ‘stuff’. These units are an extension of the home that you can access independently, and they are an increasingly cost-effective solution.
You can rent a 6.78-square-foot (64.52-cubic-foot) storage space for around HK$350 per month. Units of this size tend to be the smallest available and are a good place to start. Remember that upscaling or downsizing is always an option, meaning you can increase or decrease the amount of storage space you rent as your needs change.
Most people who use self storage like the flexibility of renting the space month to month – it is not necessary to commit to a yearly lease – but you can also pay for periods in advance to receive a discount. Some storage facilities offer prepayment discount solutions for three, six, nine and twelve months. Alternatively you can arrange to have your monthly payment automatically deducted from your credit card. There is no large bond required to rent a storage space (the deposit is usually just one month), and most operators ask for a month’s notice should you wish to vacate.
The best way to secure the right size and price for your unit is to have a self-storage consultant come to your home to provide a free, no-obligation quote. This ensures that you’ll end up with the unit that suits you best, and you won’t be paying for additional unused space.
An experienced storage consultant will also be able to advise you on the best way to store your belongings for the long term, and how to box and wrap them for maximum protection.
One benefit of taking advantage of self storage is peace of mind, you are free to live your life without your possessions tying you down. Another is convenience. Extended, often 24-hour access allows you to view your stored belongings whenever you like. You rent your own individual lock-up space and you keep the keys. Of course you are free to make all your arrangements, including pick-up and delivery, independently, but if you are dealing with large amounts of storage you can benefit from the fact that many storage facilities provide a trailer and driver service.
Needless to say, it is a good idea to view a storage facility before signing on the dotted line. The majority of Hong Kong operators are located in industrial areas, like Aberdeen, and are fairly easy to access. So when you are in the warehouse, what exactly should you be looking out for?
“Climate control and security, close proximity to an MTR and 24-hour access are prerequisites for storage facilities in Hong Kong,” says She. “First of all, the storage must be clean and dry. Air-conditioned storage will cost more and might not be necessary, but make sure the storage has a dehumidifier system so your items can be kept dry, especially during the humid summer seasons.
“Secondly, ensure that the facility is properly secured and that it has CCTV cameras and an access card system,” She continues. You should also check that the facility is insured, and be prepared to pay a nominal fee each month. As a rule of thumb, if you are renting a 6.78-square-foot unit the insurance premium will be around HK$25 per month, providing you with HK$50,000 worth of cover.
The storage facilitator also points out that professional companies should offer all sorts of value-added products and services. “Make sure they have racks and boxes available to maximise your storage space usage,” he says.
The first step then is to find a self-storage operator who fulfils the above criteria. But don’t be surprised if there isn’t a unit available immediately. “Traditionally, the high season for self storage is during the summer from June to August when many households utilise this period to decorate their homes, and require temporary storage,” says She. Small-sized units are in particularly high demand locally, so now may be the time to get yourself on a couple of waiting lists.
She, for one, is adamant that self storage is becoming an essential for modern living. “We expect the market adaptation and industry growth to be very high over the next ten plus years,” he says. “And with living standards rising across the border, the self-storage business has unlimited growth potential.”
LOCAL SELF-STORAGE FACILITIES
• Hong Kong Mini’s Co., 3569 2232
• Hong Kong Storage, 2817 6486
• MiniCo., 2505 4000
• SC Storage Group, 8177 7778
• Stored, 3165 1039
• The Store House, 2548 4049
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