Self Storage Demand

The Canadian self storage industry is in strong demand as a result of a number of factors. There are generally 4 primary drivers of self storage known as the 4 Ds of self storage: Downsizing, Dislocation, Divorce & Death. Each of these driver typically results in an individual or family to change their living situation. These drivers are also impacted by the Canadian demographics, population growth, baby boomers and the condo boom. Also the Covid-19 lockdowns and e-commerce curve increased demand for storage space.

All these factors have contributed to a doubling in self storage across Canada over the last decade. Canada has about 2 to 2.5 square feet per capita in self storage while Americans account for closer to 9 square feet. That’s an indication that the Canadian self storage industry is still undersupplied.

As per Canadian Industry Statistics, the information on the number of Self Storage Mini Warehouses for 2019 is as follows:

Self Storage Prices

The price of storage units vary a lot depending on size, location, type of storage, rent duration and other special features you might want to have.

The price of storage varies by the size of the unit. Usually larger units are more expensive to rent than smaller units. However, the self storage cost per square foot goes down as you move up in size due to economies of scale. Local demand and availability for certain sizes in a market or at a single facility can also affect the price.

Listed below are the monthly price ranges for different storage unit sizes for major cities. Storage units located outside of major cities will be less expensive.

Price Per Unit Size

Listed below are the monthly price ranges for different storage unit sizes for major cities. Storage units located outside of major cities will be less expensive. With Storval you can save a lot of money as you don’t have to book a specific unit size and you are not locked into a minimum storage duration usually set by the storage facility.

Price Per Square Foot

Listed below are the monthly price ranges per square foot different storage unit sizes for major cities. Storage units located outside of major cities will be less expensive.

Self Storage Insurance

Self Storage units don’t come with insurance coverage. It is recommended though to get insurance coverage as there have been cases of storage thefts due to inside jobs. Yes, these units are locked but they may not be under video surveillance.

Generally, storage facilities require that you present proof of insurance when you rent a self storage unit. You can often buy insurance from the storage facility itself however, taking the time to shop around can help you get an affordable policy that gives you the coverage you need.

But first check your homeowners or renter’s insurance policy as it generally protects your personal belongings, even if stored outside of the home. There may be certain limitations and deductibles to consider, so it is a good idea to confirm with your insurer exactly what is covered.

Remember that if you use Storval you can discuss with your Host if stored items can be insured under their existing home and contents insurance policy.

Storval is currently available all across Canada with focus on Ontario. If it is not available in your area, please help grow the community by signing up and sharing it with friends and family.