Glaswegians Can Earn £4,250 Tax-Free

Kangaroo Self  Storage Glasgow  have estimated that 50,000 Glasgow households could earn £4,250 tax-free by letting a room in their home to a lodger.

This assumes that 1 in 6 of Glasgow’s 300,000 households has a room that can be used. Instead of “wasting” a room by using it for storage, this under-utilised room could be earning up to £350 a month tax-free. The contents of the room could be stored in a Glasgow storage unit for around £50 a month. That leaves £300 in profit for the householder.

In these tough economic times such an amount could make a real difference to many families in the Glasgow area.

Steven Hourston, Director of Kangaroo Self Storage comments “Usually people only think of self storage when they move home. Here’s an opportunity to earn money by using self storage. People can rent a storage unit for as little as £50 a month, an affordable cost if that means they can make £300 in profit from renting their spare room.”

The Rent a Room scheme lets householders receive £4,250 tax-free gross income from renting furnished accommodation in your own or main home. The home does not have to be owned to benefit from this scheme. Leaseholders get the same benefits as home-owners. Full details can be found at www.direct.gov.uk

Spend £50 and make £300. Mmmm, that’s not the toughest decision faced  by many.

5 Ways To Save Money on Self Storage

 

 

 

 

 

5 Self Storage Money-Saving Secrets

Here are 5 easy ways to save money on the cost of self storage. Use these tips and you could dramatically cut the costs of your storage.

 1. Shop Around

The price of self storage varies by quite a lot. Some higher prices may be justified for easy access and good quality rooms.

Action

Get a few quotes. Some self storage companies quote high prices and then reduce their price if they know you’re shopping around. This can be a ploy to get you to move in. Once you’ve moved in the price may be increased in the belief that you won’t move out for a lower price. So  shop around and see what prices you’re offered.

2. Ask About Special Offers

Self storage has become ever more competitive and nearly all storage companies have special offers. Here are some:

• FREE Storage periods depending on how long you stay. If you intend to store for at least 8 weeks you can expect to get 2 to 4 weeks FREE.  
• Half Price Storage periods, or a $1 for the first month                                  
• Pre-Payment Discounts. Most companies give a discount of 5% if you pre-pay for 26 weeks. This rises to 10% for 52 weeks. Some offer even higher discounts. 
• Student Discounts. Students can expect a 10% discount. 
• Military Discounts. Armed Forces personnel should get a 10% discount.

Action

Ask about special offers, especially if you intend to stay for more than 4 weeks.

3. Look For Motivated, Trained Staff

Good, motivated, trained staff will advise you on the size of room you need and how to make the best use of your space. They will also suggest offers and savings to save you money.

Action

Consider customer service as part of your decision making process.

4. You Can Save Money When You Move In

Self storage companies just store your belongings. It is your responsibility to both move in and out. Hiring a van or arranging your own removals can be expensive. Always check if your self storage company will help you to move in – this could save you a lot of money. Here’s how they can help:

• Some will collect your belongings as part of their service. This usually involves a large trailer that can be parked outside your house. You are responsible for loading the trailer which is then driven by the storage staff to the storage centre. You then unload your belongings into your own room. This service is best for rooms up to 100sqft.
• “Free Van Hire” This saves you the cost of hiring your own van. Always carefully check the charges you will pay for – fuel and insurance. The insurance excess can be £250 to £500, so don’t have an accident!
• Local Removal Companies. All storage companies deal with local removal companies. They know the good ones, so get them to recommend a remover if you need one.

Action

Check if the self storage company will help you to move in. If they will, you may save a quite a lot of money.

5. Save Money On Insurance

Your belongings will need to be insured when they are in storage. If you have a home insurance policy check with your insurer if your belongings are covered by their policy when in storage. If they do provide cover, you will need proof for the storage company. If not, the storage company can provide insurance for you. Check the cost of this insurance. Some companies put a value for the insurance you need to pay depending on the size of the room you take. This can over-insure you and be expensive.

Action

Check if your home insurance covers your belongings in storage. If not check the storage company’s insurance costs and cover.

Follow these tips and you should make savings on the cost of your storage.

Storage Glasgow