Looking for extra space to store your things? Rent to own storage sheds might be the perfect solution. It’s a simple way to get the storage you need without paying a huge amount upfront.
With rent to own storage sheds, you can start using your shed right away and pay over time. This option gives you the flexibility to manage your budget while still getting the shed you’ve been wanting. No big down payment or complicated loans – just easy, monthly payments that work for you.
Table Of Contents:
- What Exactly Are Rent to Own Storage Sheds?
- How the Rent to Own Shed Process Typically Works
- The Good Stuff: Why People Choose RTO Sheds
- Things to Watch Out For: The Downsides of Rent to Own
- Is a Rent to Own Storage Shed Right for Your Needs?
- Rent to Own vs. Buying Outright vs. Self-Storage
- Key Questions Before Signing a Rent to Own Shed Agreement
- What Kinds of Sheds Can You Rent to Own?
- Finding Reputable RTO Shed Providers
- Why Wright’s Shed Co. Is the Smart Choice for Rent-to-Own Sheds
- FAQs About Rent to Own Storage Sheds
- What is a rent to own storage shed?
- How does the rent to own process work?
- Why should I choose rent to own storage sheds?
- Are there any downsides to rent to own sheds?
- What happens if I miss a payment?
- Can I return the shed if I no longer need it?
- What kind of sheds can I rent to own?
- Is a rent to own shed right for me?
- How much will a rent to own shed cost?
- Can I customize my rent to own shed?
- Your Perfect Rent to Own Shed Awaits at Wright’s Shed Co.
What Exactly Are Rent to Own Storage Sheds?
Think of a rent to own (RTO) agreement as a blend between renting and buying a portable building. You choose from various storage sheds and sign a contract, often called a rent-to-own agreement, with an RTO company. These companies are often affiliated with or work directly with shed dealers.
You get to use the storage building right away after the initial deposit. Instead of paying the full purchase price upfront, you make regular monthly payments. A portion of each rental payment typically goes towards the building’s rental fee, while another portion builds towards your ownership of these useful backyard structures.
It’s structured like a lease agreement with an option to buy at the end of the rental period. Unlike traditional financing, you generally aren’t locked in for the full term. Most RTO contracts let you return the shed if your needs change or you can no longer afford the rent-to-own payments, though conditions apply, and you forfeit prior payments.
Once you complete all the scheduled monthly payments over the agreed payment period, ownership of the shed transfers to you. This rent-to-own program offers a pathway to owning portable buildings without a large initial cash outlay.
How the Rent to Own Shed Process Typically Works
Getting started with rent-to-own storage is usually straightforward. While specifics vary between companies, the general rent-to-own process looks like this:
- Choose Your Shed: You pick the size, style (like a lofted barn or lofted garage), and any specific features you want for your rent-to-own building. This could be from a dealer’s lot of available portable buildings or sometimes a custom design coordinated through the RTO provider. Options might range from basic storage sheds to more specialized barns structures like a barn cabin.
- Review and Sign the Agreement: This is the crucial part of the rent-to-own process. The rent-to-own contract details the affordable monthly payment, the total number of payments (the term or rental period, often a specific month period like 36 or 48 months), the cash price of the shed if bought outright (cash pay option), and the total cost if you complete the rent-to-own plan.
- Make an Initial Payment: Usually, the first month’s rent (and maybe a small security deposit or processing fee) is needed as an initial deposit to get things rolling. This payment helps start building equity and schedule delivery. Some companies may allow payment via credit card.
- Schedule Delivery: The RTO company or shed builder arranges the delivery time and sets up the shed on your property. Make sure your site is level and accessible beforehand; otherwise, you might face delays or additional fees before you can accept delivery. Many buildings require a prepared site.
- Make Monthly Payments: You’ll make regular rent-to-own payments according to the rental agreement. Setting up automatic payments can be helpful to avoid missing a rental payment and incurring rental fees. Customers pay monthly throughout the payment period.
- Path to Ownership: Keep making payments for the agreed term. After the final monthly payment, the storage building is officially yours. Some agreements offer early payoffs, potentially allowing you to pay off the remaining contract balance at a discount before the end of the contract period.
The Good Stuff: Why People Choose RTO Sheds
Rent to own sheds appeal to people for several solid reasons. Let’s look at the advantages of this popular payment option.
Immediate Storage Solution
The biggest draw is getting the storage you need right away, often delivered complete. If clutter is taking over or you need secure space quickly for tools, equipment, or even a man cave, RTO makes it happen without waiting. You don’t need to save the full amount before you start building long-term storage.
No Big Upfront Cost
Buying a quality storage building can cost thousands of dollars. RTO breaks that large expense into smaller, more manageable monthly payments. This structure, offering affordable monthly payments, fits better into many household budgets than a single large cash pay transaction.
Often No Credit Check
Many convenient rent-to-own shed programs don’t involve a traditional credit check. This makes rent-to-own financing accessible for people with a poor credit score or no credit history who might struggle with traditional financing. Approval is typically based on providing some basic information and making the initial deposit; often no credit check required.
Flexibility (With a Catch)
Life changes. If you move, your storage needs shrink, or your financial situation changes, most RTO contracts allow you to terminate the rent-to-own agreement and have the shed picked up. You won’t get your past rental payments back, but you avoid future obligations and negative marks associated with defaulting on traditional financing.
Always check the specific terms for returns in your contract early. Understand any potential fees associated with returning the rent-to-own building before the end of the rental period.
Clear Path to Ownership
Unlike just renting a storage unit indefinitely, every rent-to-own payment brings you closer to owning the asset. You are building equity in something tangible that adds value to your property. It feels less like throwing money away when you pay rent each month.
Things to Watch Out For: The Downsides of Rent to Own
While convenient rent-to-own options exist, the RTO model isn’t without its drawbacks. It’s vital to understand the trade-offs before signing a rent-to-own contract.
Higher Total Cost
This is the biggest factor to consider when looking at rent-to-own sheds. Rent to own is almost always significantly more expensive than buying the shed outright with cash pay. The difference covers the RTO company’s costs, risks (like potential repossession), and profit; it’s the price for the flexible payment options.
Think of it like built-in interest and fees, even if not explicitly labeled as such within the rent-to-own payment structure. You essentially pay a premium for the convenience, the lack of a credit check required, and the ability to return the portable building. Carefully compare the total RTO cost to the purchase price.
Fees and Charges
Read the fine print of the rental agreement carefully. Late payments often incur hefty penalty fees. There might also be processing fees, rental fees, or charges associated with returning the shed early before the contract balance is zero.
These extra costs can add up quickly if you’re not diligent with your monthly payment. Ask for clarification (‘ for details) on all potential fees before signing.
Delayed Ownership
You don’t own the shed until the very last rent-to-own payment is made and the remaining contract balance is paid off. Until then, it legally belongs to the RTO company. This means you might face restrictions on modifying or customizing the shed, such as painting or adding shelves.
Maintenance Responsibility
Who fixes the shed if the roof leaks or a door warps during the rental period? Sometimes the responsibility falls on you, the renter, especially for issues not covered by a standard builder’s year warranty. Check your rent-to-own agreement to understand your obligations for upkeep and repairs on the building that’s on your property.
Potential Loss of Investment
If you make rent-to-own payments for a year or two but then have to return the shed, you lose all the money paid up to that point. You have nothing to show for it except the temporary use you got. Buying outright means the portable building is always yours, an asset you could potentially sell later if needed.
Not sure if rent-to-own storage sheds are right for you? Discover the key factors to consider, from urgent storage needs to long-term financial planning. We’ll guide you through the decision-making process and help you determine if RTO is the best option for your situation!
Is a Rent to Own Storage Shed Right for Your Needs?
Deciding if rent-to-own storage sheds are a good fit depends entirely on your individual circumstances and financial situation. There’s no single right answer for everyone seeking storage buildings.
Consider this payment option if:
- You urgently need a shed but lack the cash to buy one now.
- Your budget can comfortably handle the affordable monthly payments, but not a large lump sum.
- You have a challenged credit score or limited credit history and can’t easily get traditional financing. Some RTO providers advertise “no credit checks needed.”
- You aren’t 100% sure about needing the shed long-term and value the option to return it (understanding you’ll lose paid funds).
Buying outright (cash pay) or using traditional financing is likely better if:
- You have the funds available or can secure low-interest financing (like a home equity line of credit or personal loan). Saving up beforehand is often the most cost-effective route to getting sheds .
- You plan to keep the storage building for many years and want the lowest total cost over the long term.
- You want immediate ownership to customize or modify the shed as you please, perhaps creating a custom design for a workshop or lofted cabin.
- You have a good credit score that qualifies you for better financing terms than RTO offers.
Think carefully about the total cost difference between the RTO plan and the outright purchase price. Calculate how much extra you’ll pay over the RTO payment period. Ask yourself if that premium is worth the benefits rent-to-own financing offers in your specific situation before you start building equity this way.
Rent to Own vs. Buying Outright vs. Self-Storage
How does the rent-to-own program stack up against other common storage solutions like buying storage sheds outright or renting a storage unit? Here’s a quick comparison:
| Feature | Rent to Own Shed | Buying Shed Outright | Self-Storage Unit |
|---|---|---|---|
| Upfront Cost | Low (First Payment + Fees/Initial Deposit) | High (Full Purchase Price) | Moderate (First Month’s Rent + Fees/Security Deposit) |
| Total Cost | Highest | Lowest | Variable (Ongoing Rent, No Ownership) |
| Ownership | Delayed (End of Term/Contract Balance Paid) | Immediate | Never |
| Credit Check | Usually No (No credit check required often advertised) | Maybe (if using traditional financing) | Usually No |
| Flexibility | Good (Return option, terminate remaining contract) | Low (It’s yours, requires selling to divest) | High (Typically Month-to-Month Rental Agreement) |
| Location | On Your Property (Convenient backyard structures) | On Your Property | Off-site Facility |
| Customization | Limited until Owned | Full (Immediately) | None |
| Equity Building | Yes (Slowly with each rent-to-own payment) | Yes (Immediate) | No (Just pay rent) |
Self-storage offers great flexibility but means travelling to access your stuff, and you never own the storage unit. Buying provides the best value if you have the cash pay ability or low-cost financing and a long-term need for the storage building. RTO bridges the gap, providing convenient on-site rent-to-own storage with a path to ownership via monthly payments, but at a higher overall price tag compared to the cash purchase price.
Still not sure which of these storage options is best for you? Whether it’s rent-to-own, buying outright, or using a self-storage unit, we’ve got you covered. Click here to fill out the form or call 801-787-0475 for a no-obligation consultation, and we’d be happy to help you decide the right choice for your needs!
Key Questions Before Signing a Rent to Own Shed Agreement
Never sign a rent-to-own contract without fully understanding it. Get clear answers to these essential questions before committing to rent-to-own payments:
- What is the exact cash price (purchase price) of this shed if I bought it today?
- What is the specific monthly payment for the rent-to-own option?
- How many months are in the contract term or payment period? (e.g., 36 month period, 60 month period).
- What is the total amount I will pay if I complete the full RTO term? (Multiply monthly payment by the number of months and add any initial fees). Compare this to the cash price.
- Is there an early purchase option or possibility for early payoffs? How much would I save on the remaining contract balance by paying it off contract early?
- What happens if I miss a rental payment? What are the specific late fees or penalty fees?
- If I need to return the shed before the term ends, what is the process for terminating the remaining contract? Are there any pickup fees or penalties?
- Who is responsible for repairs and maintenance on the portable building while I am renting? Does it come with any kind of year warranty from the builder?
- Are delivery and setup included in the agreement and initial deposit, or are there extra charges for delivery time and setup?
- What condition does the shed need to be in if I return it? Are there wear-and-tear allowances?
- Does the rent-to-own agreement cover loss or damage from events like storms or accidents? (You may need separate homeowner’s insurance or a rider). Ask the provider ‘ for details.
Get these answers in writing within the rent-to-own agreement. Don’t rely solely on verbal promises from the salesperson. Reputable companies providing rent-to-own buildings should be transparent about these details and explain how rent-to-own works clearly.
What Kinds of Sheds Can You Rent to Own?
You’ll find a wide variety of sheds available through rent to own programs. The selection often mirrors what shed builders sell outright, including many types of portable buildings and backyard structures. These range from simple storage solutions to more elaborate designs.
Common styles include:
- Gable Sheds: Classic A-frame roof, very popular for general storage needs.
- Barn Sheds (including Lofted Barn models): Gambrel roof design offering extra overhead space, often utilized for lofts adding significant storage capacity.
- Lean-To Sheds: Single-slope roof, designed to sit neatly against another structure like a house or garage.
- Modern Sheds: Minimalist designs with clean lines, sometimes repurposed as small home offices, studios, or a private man cave.
- Specialty Buildings: Options might include a lofted garage for vehicle and overhead storage, or even a basic barn cabin or lofted cabin structure.
Materials typically include wood (like LP SmartSide or T1-11 siding), vinyl, or metal, offering different looks and maintenance requirements. Sizes range dramatically, from small 6×8 units suitable for basic tools up to large 12×24 structures, wide buildings, or even bigger, depending on the provider and local regulations. Many companies offer barns structures in various sizes.
Customization options like window placement, door types (roll-up, double), ramps, shelving, and paint colors might also be available, allowing for some level of custom design. However, major structural changes usually have to wait until you own the shed outright after paying off the contract balance. Remember, the building must remain movable until the final payment.
The key constraint is that the RTO company needs to be able to potentially repossess and resell the shed if you stop making the rent-to-own payment. This means extremely unique or permanently attached structures might be less common through RTO channels than standard, easily transportable shed designs. Most buildings require minimal site prep to be delivered complete.
Finding Reputable RTO Shed Providers
Not all companies offering rent-to-own storage operate the same way or offer the same quality of portable buildings. Look for established businesses with a good reputation in your local area. Ask friends, family, or neighbors for recommendations if they have purchased or rented storage sheds .
Check online reviews, but read them critically, looking for patterns in feedback. Look for comments on customer service, contract clarity, the condition of the rent-to-own sheds delivered, and the ease of the rent-to-own process. Searching the Better Business Bureau (BBB) for a company’s rating and complaint history can also provide valuable insights.
Prioritize companies that clearly explain their payment plans, contracts, and pricing structures. Avoid any provider who pressures you to sign quickly or is vague about the total cost, the contract balance over time, or the terms for early payoffs or returns. Reading the rent-to-own contract thoroughly yourself is your best protection.
Why Wright’s Shed Co. Is the Smart Choice for Rent-to-Own Sheds
At Wright’s Shed Co., we understand that getting extra storage shouldn’t be hard or expensive. That’s why we’ve been helping families and businesses since 1997 to find the perfect shed without the big upfront cost.
Our Rent-to-Own program is designed to make owning a shed easy and affordable.
Built with Care and Quality
We take pride in building sheds that last. Our sheds come with features that many others charge extra for, but we include them as standard because we believe in giving you the best. Here’s what you get:
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Strong Walls: We use double top plates on all walls to make them sturdy.
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Solid Roofs: Our rafters and trusses are joined with steel plates for extra strength.
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Durable Siding: We use LP SmartSide paneling that looks great and lasts long.
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Reliable Base: Choose between pressure-treated wood or galvanized steel for a strong foundation.wrightsheds.com+5loomberg+5
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Secure Doors: Our steel-framed doors come with keyed latch entries and decorative black hinges.
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Sturdy Framing: We use 2″x4″ wall framing spaced 16″ on center for solid construction.
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Quality Trim: 4″ Miratec trim adds a nice finish to your shed.
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Protective Roofing: We use 7/16″ OSB roof sheathing and 3/4” tongue & groove OSB floor sheathing.
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Long-Lasting Shingles: Our limited lifetime architectural shingles come with a drip edge around the roof perimeter.
These features ensure that your shed is not only functional but also adds value to your property.
Easy and Flexible Payment Options
We know that everyone’s financial situation is different. That’s why our Rent-to-Own program offers:
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No Credit Check: We don’t require a credit check, making it easier for you to get the shed you need.
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Flexible Terms: Choose from 24, 36, 48, or 60-month payment plans that fit your budget.
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Simple Start: Just pay the first and last month’s rent to get started.
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Convenient Payments: Make your monthly payments online, by phone, by mail, or through your RTO National account manager.wrightsheds.com+2
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Early Payoff: Pay off your shed early without any penalties.
Our goal is to make the process as smooth and stress-free as possible, so you can enjoy your new shed without financial strain.
Serving Our Communities
Wright’s Shed Co. is proud to serve customers in Utah, Idaho, Nebraska, and Iowa. We have locations in Kaysville, UT, and Greenwood, NE, where our dedicated teams work hard to build and deliver high-quality sheds to our customers.
Want to know our terms? Click the image below to get all the details and find the perfect rent-to-own shed for you!
FAQs About Rent to Own Storage Sheds
What is a rent to own storage shed?
A rent to own storage shed is an agreement that lets you rent a shed and make monthly payments until you own it. Instead of paying for the shed upfront, you make regular payments over time. Once all payments are made, the shed is yours!
How does the rent to own process work?
First, you choose your shed. After that, you review and sign the rent-to-own contract, make an initial payment, and schedule delivery. You’ll then make monthly payments until you’ve paid off the shed, at which point it becomes yours.
Why should I choose rent to own storage sheds?
Rent to own sheds are a great option for people who need storage but can’t afford the full price upfront. You get your shed right away, make affordable monthly payments, and when you’re done, it’s yours! Plus, many providers don’t require a credit check.
Want to learn more about how our rent-to-own program works? Check out our Lease-to-Own Sheds blog for more details!
Are there any downsides to rent to own sheds?
Yes, the total cost of rent-to-own sheds is typically higher than buying outright. There might also be fees for late payments, and you don’t own the shed until the final payment is made. Make sure you read the contract thoroughly to understand any potential fees.
What happens if I miss a payment?
If you miss a payment, there are usually penalty fees, and your provider may have the right to repossess the shed. Make sure to set up automatic payments or keep track of your due dates to avoid any issues.
Can I return the shed if I no longer need it?
Most rent-to-own agreements let you return the shed, but you won’t get back the payments you’ve made. Be sure to check the contract for any early return fees or conditions before signing up.
What kind of sheds can I rent to own?
Rent-to-own programs offer a wide range of sheds, from simple storage units to more elaborate structures like lofted barns or even small workshops. You can choose the size and style that best fits your needs.
Is a rent to own shed right for me?
If you need storage now but can’t pay the full price upfront, rent to own can be a great option. It’s also ideal if you have a limited budget or credit history. However, if you plan to keep the shed long-term, buying outright might be cheaper in the long run.
How much will a rent to own shed cost?
The cost depends on the shed’s size, style, and the payment terms you choose. Typically, rent-to-own sheds are more expensive than buying outright because you’re paying in smaller installments over time. Be sure to compare the total cost with the upfront purchase price.
For more details on pricing and our flexible payment options, visit our Rent to Own page.
Can I customize my rent to own shed?
Some rent-to-own providers allow limited customization options, such as adding windows or choosing paint colors. However, major customizations are usually only allowed once you fully own the shed.
Your Perfect Rent to Own Shed Awaits at Wright’s Shed Co.
In conclusion, rent to own storage sheds offer an excellent option for people who need immediate storage but can’t pay a large upfront cost. This flexible solution lets you get the space you need right now while paying over time, with the added benefit of ownership at the end. However, it’s important to weigh the total cost and understand the terms of your agreement before committing.
At Wright’s Shed Co., we make the process of getting a rent-to-own storage shed easy and affordable. With over 20 years of experience, high-quality craftsmanship, and flexible payment options, we’re the trusted choice for your storage needs.
Whether you need a basic shed or a custom-built structure, we’re here to help. Contact us today to find out how we can provide the perfect rent-to-own shed for you!