Renting a storage unit? Prices just keep going up! Stop the price creep by using one of these options below:
Rent to Own (RTO)
RTO will lock in a fixed monthly payment for a 2-5 year term. At the end of the term you get to own your storage — no more monthly payments! Depending on the RTO program offered you can get your portable storage building built and delivered for just the first month’s payment. Some RTO programs even offer a 90 days same-as-cash offer. If you make the minimum monthly payment, and you pay your building in full within 90 days from the date of delivery, you pay the cash price!
RTO requires no credit check; the building is the collateral. Therefore, you must have the space to have a factory-built shed delivered. RTO for portable structures doesn’t even require that you own the property where the building will be placed, however written landlord permission is required in these cases.
RTO also allows you to return the building if it turns out you don’t need it anymore. This can be a great option if you’re renting your property and don’t need the shed after you move. Just contact your RTO company and they’ll come pick it up for free and you won’t have to make any more payments on it.
Traditional financing
Financing offers lower payments than RTO and is available with a minimum credit score above 680. Accessory structure loans are offered by institutions that specialize in the small, unsecured, personal loan space. Thus, rates typically start at 9% and go up from there. However, don’t let the rate scare you off. Payments for financing are typically 50-75% less than RTO payment amounts for the same building. Unless you have a great relationship with your credit union or bank, they usually won’t even offer this type of loan. Typically, your shed supplier will be set up with one or more companies that specialize in this type of financing.
RTO and financing
Both are available for permanent, steel-frame buildings as well. Financing works the same as on wood-frame buildings. For RTO on steel buildings though, you are typically required to own the property and pay not only the required deposit but also the first month’s payment before the building will be installed.
Zero Down?
If you qualify for enough financing to cover the entire price of your building, your manufacturer may offer a zero down option.
Home Improvement Loan
With this type of loan you can roll in the building, foundation, and interior finish options into one project. Ask your local building business if they offer this option. These loans often feature limits over $100,000 and terms over 10 years to keep payments reasonable.
There are many avenues to fund your new building, but no matter which option you choose, you can pay off both an RTO and Finance contract early if you wish.
Moore Liberty Buildings Chad & Amanda Moore • Thousands of structures built since 2015. MooreLibertyBuildings.com • 512-548-6474