Minimum term
The shortest period that you have to rent for, such as one month or three months. Leaving earlier can mean paying the rest of the term.
Related terms
- LeaseThe agreement that states what you rent, the price, the minimum term, the notice period and the rules of use. Most storage providers ask you to sign a lease before you receive the key.
- Notice periodThe time that you have to give the provider before you move out, often one to four weeks. The rent runs until the notice period ends.
- DepositMoney that you pay when you sign the lease and that the provider returns when you leave, minus any damage or unpaid rent.
- Admin feeA one-time charge that some providers add when you open a lease, on top of the monthly rent.
- Per monthThe price for renting a unit or a plan for one month. It is the usual unit for self-storage, containers, lockers and software subscriptions.
- Per pallet per weekThe price of storing one pallet for one week. Shared warehouses use it, and they often add a handling fee when a pallet arrives or leaves.
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