How to Cancel Public Storage

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Public Storage Refund Policy

Public Storage does not usually offer refunds for unused storage rental periods if you choose to vacate the storage unit before the completion of your rental term.

This is because storage rental agreements are typically designed on the basis of month-to-month leases. As a result, customers become liable to pay for the entire month regardless of when they choose to vacate the unit.

However, if you have prepaid for an extended period and considering vacating the unit before the termination of the prepaid period ends, you may be eligible for a refund of the unused time of your rental fees.

Nevertheless, Public Storage refund policies may vary depending on the specific terms provided in the rental agreement.

How much you can save after canceling your public storage subscription

Public Storage operates on a month-to-month rental basis rather than a recurring subscription model. As a result, any potential savings from canceling the Public Storage rental service would depend on the remaining duration of the agreement and the monthly rental rate.

For example, if your monthly rental rate is $50 and you have four months remaining in the rental agreement, you could save $200 from canceling the Public Storage rental.

Some rental agreements may have additional fees or charges, such as administrative fees or late fees. It could further impact the total savings. So, carefully review the terms and conditions of the rental agreement and contact the company for any necessary changes.

Where to Invest that amount

Here are some investment options to consider using the money you get from canceling your Public Storage subscription:

Emergency Fund: Consider putting the saved money towards building an emergency fund or a high-yield savings account to overcome unexpected expenses or financial emergencies.

Retirement accounts: Consider investing in retirement accounts such as a 401(k), Individual Retirement Account (IRA) or Roth IRA. These accounts offer tax advantages and assist in retirement.

Real Estate: If you're interested in real estate, you could use the saved money as a down payment for a rental property or invest in real estate investment trusts (REITs).

Education Savings: If you have a child, plan for further studies by investing in a 529 college savings plan or a Coverdell Education Savings Account (ESA). These accounts may offer tax benefits and their earnings grow tax-free when used for qualified education expenses.

Alternatives to Public Storage

Here are some popular alternatives to Public Storage to help you store your belongings:

Self-Storage facilities: There are many self-storage facilities that operate similar to Public Storage and offer various unit sizes, rental terms and security benefits. Do a comprehensive research on local self-storage facilities in your area to compare prices and reviews.

Portable storage containers: Companies like PODS (Portable On Demand Storage) and U-Haul provide portable storage containers that can be delivered to your location, offering convenience and flexibility.

Warehouse storage: These services can be used for storing large items or palletized goods in a secure facility. These are preferred options for businesses or individuals with bulk storage needs.

Climate-Controlled storage: If you have climate-sensitive items to store, consider renting a climate-controlled storage unit, depending on your specific storage needs.