Tips to Renting Storage Containers | LOTUS Containers

Shipping containers have been in existence for more than a half-century. They are one of the major drivers of international trade. They were invented back in 1956 when an American entrepreneur came up with a solid idea of loading the entire cargo from the truck on the vessel at once. Ever since then, containers are being used for multiple purposes- shipment, storage, and building materials. 

 

Today, container trading is going on a bigger scale as buyers and sellers eagerly look for some great deal. Apart from buying, container leasing is also one of the most practiced methods of acquiring shipping containers on lease. 

 

Not every business looks for buying. Some want them on lease depending upon their business needs.

 

What is container leasing?

Container leasing is an agreement between a container leasing company and a lessor stating that the containers will be used for the defined period and a rate documented within the terms of the lease agreement.  

 

Leasing turns out to be 60% to 70% more expensive than buying, yet a large chunk of customers is seen hovering to the leasing side. 

 

Why/when to lease shipping containers?

Many times, when you don’t get confidence that whether the container is required for a longer duration of time or not, container leasing comes into action. 

 

Temporary storage

Not every business has a continuous need for product shipment. Also, some business needs extra space to store goods that are not needed immediately. A temporary need is created in such cases. Spending dollars on buying shipping containers doesn’t sound economical as leasing prices vary greatly from place to place. As once after use, the container will only eat up space or would be left idle. In such a case, you either go for leasing or can choose LOTUS Containers’ amazing sale and buyback option.

 

Moving or shifting

In projects which require the shifting of the entire factory or industry, container leasing comes to be helpful. Containers are very well used to carry heavy and big-size machinery and industrial equipment since they are durable and portable. And, to fulfil short term requirements like 50-60 days, you could use a short-term lease.

 

Irregular shipping

Some companies have to ship their products every now and then. For smooth flow of products, they buy some containers and use them for shipment. But for businesses that have irregular shipment needs, sometimes buying turns out to be expensive and burdensome. And you could go for a better option than leasing- explore our buyback service.

 

Factory storage overflows

Most of the time the factory space or warehouse gets bottlenecked and no space is left for further storage. This creates the need for extra space for the storage of goods until the warehouse does not get emptied. By leasing shipping containers, extra space can be owned temporarily for the duration they need.

Tips on leasing shipping containers

So, we came a long way discussing leasing, let’s give time to the main context of the article. Before you go for leasing, make sure you keep a note of the below-discussed point to avoid rental mistakes. 

 

Decide for how long you need the container

The first step towards leasing containers is deciding for how long you need them? In fact, leasing policies are also designed based on leasing duration like- short-term lease, long-term lease, lease purchase, etc. 

 

Some lessor may offer better rates if you sign-up for long-term contact. If you are sure enough that you want them for a year or longer, an annual contract would be a better go. While some companies like LOTUS Containers offer multiple types of leasing policies under a single roof.

 

You might end up paying a hefty sum if you sign an annual contract and find later on that you needed it for short time. If you cannot decide for how long you want the container, you can ask the lessor to help you find the appropriate leasing option. Do not forget to enquire about the advanced notice they require to close a contract. 

 

Decide on the type and dimension you want

Shipping containers come in a variety of types and dimensions. 

 

Types-

1.	Dry Van	7.	Flat Rack	9.	Insulated
2.	Pallet Wide	8.	Platform	10.	Reefer
3.	Double Door	5.	Open Top	11.	Bulkers
4.	Side Door	6.	Hard Open Top	12.	Tanks

 

 

It’s is one of the important decisions you have to make while renting a storage unit or shipping container. To know what dimension and type of container you want, you will have to first know your cargo type and quantity. 

 

For example- 

- For large-size machinery or equipment, you will need large-size containers like 40ft or 45ft high cube.

- Dry van for dry and bulk freight, reefers for perishable items, flat racks for unwieldy cargoes.

You will need to find out that whether the specific container types and dimension is available in stock or not. Also, not all kinds of containers are available for leasing. For a very small volume of goods, you can even get them consolidated with other consignee’s freight. 

 

Container Price

Once you have decided on leasing duration, container types, and dimension, the next thing you should move on to is finding out leasing rates offered by different leasing companies. Leasing prices depend on type, quantity, pick up and drop off locations, duration, financial status, etc. The transportation fee is estimated by calculating distance between their location your location. Try to compare the price list of multiple leasing companies and go for one offering competitive price along with quality product and service. You should inquire about the overall price before making any final decision. 

 

Make sure it has a secure locking

Security should be always your prior most concern. Since you’re going to store your valuable belongings, you should inquire about the level of security a container can provide. While most boxes have a general locking system, some come with an advanced locking mechanism. The general lock can be conveniently cut while a premium locking is difficult to cut or break. 

 

Find about the legalities

Dropping containers to industrial areas is legit and legal. But it could not be the same for local/residential areas. Depending upon your city, country, and neighbors, you may need a permit to bring containers to your place even if it is for a very short time. If by any means your area does not permit you to drop a container, you will need to obtain a permit giving you allowance to do so which could be a little tricky. 

 

In summary

Container leasing requires your cautiousness. One wrong decision can disrupt your budget and purpose of renting. It could be either of anything- a wrong choice of container dimensions, types, or leasing policies. To assist you, the team of LOTUS Containers is 24/7 available. Being a leading container leasing company, we will help you with every bit of knowledge that will help you in smart leasing.