In his article: Rent-to-own Storage Sheds: Why You Should Think Twice, Michael W. Mathis covered some of the reasons he thinks rent-to-own storage sheds are a bad idea for homeowners. Makes some good points along the way. It is obvious that the purchase and sale of leases are not the “end and end” to buying anything and, of course, you should think twice before buying anything by this means. The main point of your article seems to be that renting your own storage sheds is expensive, paying about twice what the building would cost in cash. It ends by saying, “If they can’t get reasonable financing or save and pay well, they probably don’t need it.” While I agree that rent-to-own contracts are not the best options and will cost more than an outright purchase, there are times when a rent-to-own storage shed makes sense. When is rent-to-own a bad idea? When I have the money to pay it directly. You will save money if you buy the building with cash, but there are also cases where this is not true. When is rent-to-own a good idea?

1. When the building is necessary to create or preserve wealth. In such cases, the building is really a tool, such as a truck or table saw. If it is necessary, and it cannot be obtained otherwise, it is better to have it for the purpose of creating wealth, than not to have it and lose the opportunity.
2. You intend to use the building for business and taxes are an issue. This is related to number 1. In some situations, renting offers tax advantages. In some states, a portable building is not taxed as part of the property where it resides. In many situations, commercial rent can be deducted from income taxes and that can level the playing field.
3. If you rent space in a public warehouse. If you’re already paying rent for something you need to preserve, it makes sense to rent a storage space that you will eventually have. You will rent something for a few years and wait for the day that it belongs to you instead of renting a space forever. Spending $ 200.00 per month forever makes much less sense than paying $ 200.00 per month for 36 to 48 months.
4. You have credit problems. If you have credit problems, you may not be able to get bank financing. In fact, you may need the building to alleviate the cost of public storage.
5. You want to avoid credit problems. If the possibility of defaulting on a loan and ruining your credit has crossed your mind, and it’s a risk you don’t want to take, a rental-to-own storage shed may be the best option. Most rental-to-own storage building concessionaires have contracts that will allow you to return the building without hurting your credit. Will your banker do that?