Can I charge tenants for storage lockers or a bike room in my apartment building?

Which spaces can earn

• Basement or attic lockers: caged or lockable bins sized for boxes and seasonal items.
• A bike room: racks or cages in a locked room, charged per space or per bike.
• Extra parking or garage space: see parking rules.
• Unused closets or alcoves that can be fenced and locked.

Ask first whether the space is legal to rent for storage. Fire codes limit what can be kept near exits and in boiler or utility rooms, so ask your fire marshal before you build a locker bank.

Set a price

Look at what self-storage units in your area charge for a similar size and price your lockers below that, since tenants save a trip. Price per space, not per item, and review once a year.

Example a made-up building with 10 lockers rented at $30 a month and 6 bike spaces at $10 a month. Lockers: 10 x $30 = $300 a month. Bike spaces: 6 x $10 = $60 a month. Together $360 a month, or $4,320 a year, before the cost of cages and locks. If the cages and locks cost a made-up $1,800, they pay back in 5 months at full occupancy ($1,800 divided by $360).

Put the terms in writing

1. Write a one-page storage addendum or a clause in the lease: the space number, the monthly price and the term.
2. List what cannot be stored: flammables, fuel, food, hazardous items, anything illegal.
3. State that storage is at the tenant's risk and that they should check their renters insurance. Ask your insurer how stored property affects your own policy.
4. Say what happens at move-out: the space is emptied, with a deadline.
5. Say how you may enter, and give notice where your state requires it.

Do not promise security you cannot provide. A lock deters casual theft, not a determined one.

Record the income

The IRS describes rental income as any payment you receive for the use or occupation of property (Publication 527), so storage fees are generally part of what you track. Keep them in a separate income account from rent, and ask your tax preparer how they are reported. See recording pet fees and other income.

Liability and insurance

Storing tenants' property creates questions about who pays if it is damaged or stolen. Your lease should say the tenant stores at their own risk and should carry renters insurance, and your own insurer can tell you whether stored items affect your coverage. Keep the space dry and clear of the boiler or electrical panels.

Inspect the space on your monthly walk. Remove anything on the prohibited list and send a written notice to that tenant. Treat everyone the same, and record what you found.

Keep it simple to rent

Make it easy for a tenant to ask for a space. Post a sign with the space numbers and the price, keep a short waitlist, and confirm each rental with the addendum before the tenant moves anything in. Review who holds each space every quarter so no one keeps one for free by accident, and remove the lock when a space is vacated.

How DoorKeeping handles it

You can add a monthly storage charge to a tenant's lease and see the deposit match in the bank feed against that tenant's ledger. The storage addendum is stored with the lease as a document. DoorKeeping costs $2 per unit per month with every feature included and does not hold tenants' money.

Sources

1. IRS Publication 527, Residential Rental Property, read Oct 31, 2026

Questions

Can a landlord charge for storage?

Often yes if the space is the landlord's to rent and the lease allows it. Check local rules on fees.

Is storage income taxable?

The IRS treats any payment for use of property as rental income. Your tax preparer decides how it is reported.

What should not be stored in a locker?

Flammable, hazardous or illegal items, fuel and food. Write the list into the addendum.