Renting a storage space from Neighbor.com is much cheaper than getting a storage unit from a traditional storage company. And because Neighbor protects users with comprehensive coverage, lists security features for its rentals, and lets users rate their hosts, a Neighbor rental can be just as safe as any other storage unit.
Neighbor.com vs. Self-Storage: What’s the Best Storage Option?
How Neighbor.com compares to the self-storage industry
|Price info||Neighbor.com||Conventional storage companies|
Neighbor.com pricing data as of October 2021. Conventional storage company pricing data as of April 2021. Offers and availability may vary by location and are subject to change.
*Discounts are only available from participating Neighbor hosts.
**Conventional storage discounts vary by company and are subject to change.
Neighbor.com storage spaces are far cheaper than units from conventional storage companies. On average, a Neighbor rental costs $140.44 per month. Traditional storage, on the other hand, costs $183.00 a month on average.
Both averages come from a broad range of sizes that span from about 5 x 5 inches to 10 x 30 inches. This means that saving big with Neighbor doesn’t require you to pick a smaller storage space than you’d get from a conventional storage company. Units listed on Neighbor are generally cheaper than units of comparable size from traditional self-storage companies.
Note that our average for conventional storage encompasses a pretty wide range of prices. On the high end, Extra Space Storage units cost an average of $223 per month. On the low end, Simply Self Storage’s prices average about $157 per month.
Neighbor’s average price is about $17 below its closest competitor’s price, so Neighbor is the clear winner price-wise.
Why are Neighbor.com’s prices so much lower?
Between costs for security, maintenance, and temperature control for their storage facilities, conventional storage companies pay a lot of overhead to operate. This means they have to recoup those costs through what they charge their customers.
Neighbor.com rentals are often just extra spaces in normal people’s homes, so your hosts don’t have to factor all those overhead costs into their pricing. Things like temperature control are already covered in your host’s living costs, and since Neighbor hosts often live in the same houses as their rentals, they also don’t need to hire security guards.
This doesn’t mean that some Neighbor hosts don’t go the extra mile and add additional security features like cameras or alarms to the spaces they rent out. These features are available on some Neighbor spaces, and while those spaces tend to cost more, they’re usually still a bargain compared to conventional spaces with comparable security.
Discounts for the first month of storage are a staple in the self-storage industry, but the exact amount these discounts knock off your price varies between companies. Some companies—like Extra Spae Storage—even offer free first month’s rent.
These discounts aren’t always available, and they aren’t always this good, but if you check out every storage company in your area, you can almost always get a discount on your first month.
Neighbor.com is no exception. Many Neighbor units come with half off your first month’s rent when you book for multiple months. Neighbor hosts can opt out of offering this discount, so it isn’t always available, but we’ve seen it on about half of Neighbor’s rentals.
Neighbor’s discount certainly isn’t the best we’ve seen. But combined with Neighbor’s lower-than-average rates, booking with Neighbor can save you more money than booking with a company that offers free first month’s rent if you rent your storage space for several months.
Most storage companies aren’t available in every state, and a few—like Simply Self Storage—only have a few hundred locations. This means that even if you like a company’s prices, customer reviews, and safety features, it might not be available in your state.
You won’t run into this problem with Neighbor.com though. Neighbor has storage spaces for rent in all 50 states, so it’s always an option no matter where you live. However, Neighbor’s pickings are often very slim in rural areas, so you may have to drive an hour or two to access your Neighbor rental if you live in a small town.
Despite its limited availability in some areas, Neighbor’s nationwide coverage puts it head and shoulders above almost every competitor.
Unfortunately, Neighbor.com lags behind conventional storage companies in customer reviews. Across review platforms like Yelp and Trust Pilot, customers leave star ratings for conventional storage companies that range between 2.9 and 4.5 out of 5 stars on average.
Neighbor, on the other hand, sits at a 2.8 average customer star rating.
Average customer ratings for self-storage companies
Average customer star rating
|Simply Self Storage||3.2|
|Extra Space Storage||4.3|
It’s worth mentioning that individual customer experiences with Neighbor have more to do with Neighbor’s hosts than they do with the company itself. As with Airbnb, if you have a good host, you’ll have a good experience with Neighbor. If you have a bad host, you’ll have a bad experience.
To help its customers have good experiences, Neighbor allows customers to rate their hosts on its website, and customer ratings are attached to every host’s profile. This allows users to quickly find good hosts who they can trust.
Even with this handy feature, though, customers tend to have worse experiences with Neighbor than with conventional storage companies.
For the most part, you can find just about any service you’d get from a typical storage company on Neighbor.com. From climate-controlled units to vehicle storage, Neighbor can do it all.
The only exception is that some storage companies rent out moving trucks to help you get your stuff out of your home and into your storage unit. CubeSmart can even land you a discount on a Penske moving truck.
Unfortunately, Neighbor doesn’t rent out moving trucks or help with moving truck costs. However, if you can get all your stuff to your storage rental in your personal vehicle or you don’t mind finding your own moving truck, the money you save on storage will more than cover the cost of a truck rental.
Neighbor.com vs. conventional self-storage service comparison
Conventional storage companies
|Business inventory storage|
Offers and availability may vary by location and are subject to change.
*Exact truck rental options and discounts vary between companies and locations.
Because renting from Neighbor.com usually means leaving your precious belongings in a stranger’s home, it’s understandable that you’d be concerned about safety. Luckily, Neighbor takes the safety of its renters and hosts seriously.
Like we’ve mentioned, some Neighbor rentals come with security features that pricey conventional storage units often include like break-in alarms, smoke detectors, and security cameras. These features depend on your host, though, so Neighbor takes a few steps to protect all of its renters regardless of who their hosts are.
1. Neighbor’s Renter Guarantee
All Neighbor rentals include Neighbor’s $25,000 Renter Guarantee that protects their belongings in case of theft or damage. If your stuff gets stolen or destroyed while it’s in your Neighbor storage space, Neighbor will cover up to $25,000 for repair or replacement.
The best part is that this guarantee is included at no extra cost. And while conventional storage companies also offer coverage plans, they aren’t free. Coverage from a conventional storage company typically costs between $10 and $50 a month. So even Neighbor’s coverage is cheaper than conventional competitors.
As you’d expect from a coverage plan, there are special exclusions and limitations to Neighbor’s Renter Guarantee. If you store prohibited items like perishables or gasoline, for example, you void the guarantee. Be sure to carefully read Neighbor’s Renter Guarantee to ensure you understand how it works and what is covered before booking your Neighbor rental.
2. Payment security
Neighbor’s payment methods are PCI-compliant to ensure that the sensitive bank and credit card information of its hosts and renters is always secure and doesn’t get leaked.
3. Host verification
Neighbor’s hosts might be strangers to you, but Neighbor makes sure it knows each one well before allowing them to list their storage space on its site. Neighbor requires hosts to verify their email addresses, phone numbers, and identities to ensure they can be held accountable for whatever happens to their renters’ belongings.
Neighbor’s hosts aren’t all professionals with security experience. But considering the range of security features available on Neighbor rentals, Neighbor’s free Renter Guarantee, and Neighbor’s dedication to hiring trustworthy hosts, renting from Neighbor can be just as safe as renting from a conventional storage company.
Neighbor.com’s wide assortment of storage space sizes really rockets it ahead of competitors. Every storage company has several different unit sizes you can rent, and CubeSmart has more than any other conventional company with almost a dozen different sizes.
However, since Neighbor lets hosts list whatever extra spaces they have in their homes, Neighbor’s range blows the competition out of the water. Neighbor has everything from bedroom closets to entire parking lots for rent.
Here’s why that’s a big deal. Storage prices are partially determined by size, so finding the perfect amount of storage space for your needs means saving money. If you get a space that’s bigger than you need, you’ll be paying for unused cubic footage.
And while you can often get close to what you need with a conventional company, Neighbor’s range allows you to get exactly what you need and nothing more.
Our final take
Neighbor.com is your cheapest self-storage solution, bar none. Few conventional storage companies even come close to Neighbor’s low rates. And while it bears repeating that Neighbor customers often walk away less satisfied than traditional storage customers, Neighbor implements rating tools to ensure its customers can find good hosts who will treat them right.
And, because Neighbor rentals can include (almost) all the services, security features, and amenities you’d expect from a conventional company, you don’t need to skimp on your standards to save money on storage.
Is Neighbor.com cheaper than conventional self-storage?
Yes, Neighbor storage rentals cost $140.44 per month on average while conventional storage units cost an average of $183.00 per month. This makes renting from Neighbor over $40 cheaper than renting from a conventional storage company.
Is Neighbor.com trustworthy?
Yes, Neighbor.com is a legit storage option with safe payments, verified hosts, and a good coverage policy. This makes Neighbor just as safe and trustworthy as most conventional self-storage options.
Can you make money on Neighbor.com?
Yes, anyone with extra space in their home can list it on Neighbor.com after going through the verification process. Neighbor is a great way to make a little passive income using any extra closet, attic, or spare bedroom in your home.