Self Storage Waitlists in Montana: Is There Another Option?

For some tenants, getting waitlisted for a self storage unit isn’t an option. Unexpected relocation, death in the family, or other circumstances are forcing many Montanans to scramble for storage. Some are turning to Neighbor.com for storage solutions. That’s leaving some self storage operators to wonder how much market share could be scooped up by this site.

Calling themselves the “cheaper, closer and safer storage marketplace,” Neighbor.com brokers space in personal homes to storage tenants. We look at it as the Airbnb of self storage. Homeowners with an empty bedroom, an empty corner in their basement, or outdoor pad list space on Neighbor.com for potential tenants to peruse. Payment is made to Neighbor.com by the tenant.

And Neighbor.com claims they are “50% cheaper, 6x safer, and covered by a free $25,000 protection plan.” While it may be cheaper, the downsides are evident. Tenants must enter a private residence to store their belongings and are not guaranteed the safety of cameras, locks, and other security measures commonly taken by self storage facilities. All stored items are subject to search by the homeowner.

One of the biggest turnoffs for using Neighbor.com is inconsistent access. Most listings in personal homes don’t have unfettered 24/7 access. But, with self storage waitlists growing as Montana’s population rises, more locals might jump at the chance to make a few extra dollars. For now, there are few listings in most Montana cities (with none at all in Bozeman). We’ll keep tracking this growing trend and report any significant increases in available properties.

For more information on Montana’s self storage and industrial markets, contact Claire Matten, CCIM.