Renting warehouse storage can be a very lucrative business, especially if you live in Singapore or other places where land space is at a premium. Because the need for this type of service is so high, there are many companies offering these services and it’s important to do your research in order to avoid getting ripped off. Here are tips to help you do just that when you’re looking to rent warehouse storage in Singapore.
1. Get a business license
The first thing you need to do before renting warehouse storage is getting a business license. Either go online to the Singapore government website and you can obtain one for $200 or you can call or e-mail the Singapore Tax Authority for one for $300. Having the proper license makes it easier for the authorities to enforce procedures regarding your storage units.
2. Speak with your local government
There are also regulations in Singapore that must be followed when renting these units and it is important to check them out beforehand. Be sure to speak with your local government regarding these rules because a violation could result in a hefty fine.
3. Check the locations of the units
Before you sign up for any storage units, it’s important that you find out if they are located in an industrial or commercial area. If they are in an apartment unit, this will affect your monthly rent and how much money you can make each month. This is something that many people get wrong when opting to rent warehouse storage, so take the time to check out the locations of your potential storage units before signing up for them.
4. Contact the company running the facility
When you’re planning to rent warehouse storage, you need to take a moment and find out who will be managing your storage facility. Some companies allow you to choose the manager of your own storage unit so it’s important to check on this before signing a contract for these units.
5. Get a quote from different companies
The best way to make sure you’re getting a fair rate for your warehouse storage is going to be by looking at different quotes from different companies. Ask what their rates are going to be for monthly rent and how much money they will offer if damages occur on one of the units.
6. Research the company
If you’re not sure about a company, take some time to do a bit of research on it before signing the contract. Find out what other people think of them and check reviews of their services to figure out if they are reputable or not. This can save you from having unnecessary problems later on when it’s time to collect your money from them.
7. Know what your insurance will cover
When you’re looking for warehouse storage, it is important that you know your insurance will cover any damages or losses that occur to your units during a storm or other types of emergency situations. Your insurance policy should be clearly outlined as to what it will cover.
8. Go online for reviews
One of the best places to look for both good and bad information about your warehouse storage provider is on the internet. Make sure you get reviews from people that have used the company’s services before and speak directly with them about their experiences with them so you can find out if they are worth using or not.
Renting warehouse storage is a great way to make money if you’re a person that doesn’t want to become a landlord or start an e-commerce business. If you follow these tips, you should have no problem finding the right one for your needs.