Storage and business unit terms,
explained simply

How to use this glossary

Renting a unit throws up words you may not use every day. This glossary explains the ones you are most likely to meet, in plain English, grouped by topic. Where a term relates to our own units, we say how.

It is general information, not legal or tax advice. For anything that affects your money or obligations, check the official guidance or speak to an adviser.

Units and access

Roller shutter

A metal door made of horizontal slats that rolls up into a drum above the opening. It opens the full width of the unit, so pallets, furniture and bulky kit go in easily. Our 150, 180 and 300 sq ft units have one.

Personnel door

An ordinary-sized door for people rather than goods, sometimes called a pedestrian door. A security personnel door is a strengthened version. Our 160 sq ft unit opens this way.

Interconnecting door

An internal door between two neighbouring units. It lets you rent adjoining units and use them as one space. Some of our units have them.

Ground-floor unit

A unit at street level. No stairs or lifts to deal with, which matters if you move heavy or awkward items.

Mezzanine

An extra floor level built partway up inside a unit. Our two-storey unit has a full upstairs area with a staircase, rather than a mezzanine platform.

Windowless unit

A unit with no windows. It gives more wall space and privacy, and lighting is provided. See working in a windowless unit.

Storage pod

A small enclosed storage space, usually for boxes and household items. Ours will be 15 to 35 sq ft, on the first floor.

24-hour access

You can get to your space at any time of day or night.

Fit-out

The shelving, benches, racking and furniture you add to make an empty unit work for you. In our units, the fit-out is up to you.

Racking

Strong shelving designed for heavy loads or pallets. Freestanding racking is common in storage units because it can be taken away when you leave.

Measuring space

sq ft (square feet)

A measure of floor area. A space 10 feet by 15 feet is 150 sq ft. UK commercial property is usually quoted in square feet.

m² (square metres)

The metric measure of floor area. One square metre is about 10.76 sq ft, so 150 sq ft is roughly 13.9 m².

Price per sq ft per year

Yearly rent divided by floor area. It is the fairest way to compare spaces of different sizes. £65 a week for 150 sq ft is about £22.53 per sq ft per year.

Floor area based pricing

Setting rent according to how much floor space you get, so larger units cost more in proportion.

Power and services

Single-phase electricity

The standard supply in UK homes and small premises. It runs lights, computers, most power tools and domestic-style appliances. All our units have single-phase power.

Three-phase electricity

A heavier supply used for large industrial machinery, such as big compressors, welders and production equipment. We do not have three-phase.

Supplier rate

The price the energy supplier charges per unit of electricity. We pass on your usage at that rate, with no markup.

Utility deposit

A sum some suppliers or landlords ask for before connecting services. We do not charge one.

Agreements and money

Licence

Permission to occupy a space on agreed terms. Licences are often used for flexible, short-term arrangements. The paperwork you sign tells you which type of agreement you have.

Lease

A tenancy that gives the tenant a legal interest in the property for a period, often several years for commercial premises. Commercial leases can involve more formal steps to end early.

Licence vs lease

In short, a lease usually gives more security but less flexibility, while a licence is lighter and easier to end. Which one applies depends on the agreement and the facts, so read what you sign and take advice if unsure.

Rolling monthly

An agreement with no fixed end date that continues month to month until someone gives notice.

Minimum term

The shortest time you commit to. Ours is one month.

Notice period

How much warning you must give before leaving. Ours is one month.

Security deposit

Money held at the start of an agreement against unpaid rent or damage, returned on the terms your agreement sets out. Ours equals one month's rent.

Rent in advance

Paying for a period before it starts. We ask for one month in advance when you move in.

Direct Debit mandate

Your written permission for an organisation to collect payments from your bank account. Payments are covered by the Direct Debit Guarantee.

Pro rata

In proportion. A part month charged pro rata costs a matching share of a full month.

Break clause

A term in a fixed-length lease that lets one side end it early at set points. Rolling monthly agreements like ours do not need one, because you can leave on one month's notice.

Service charge

A separate charge some landlords make for shared areas and services. Check any quote for one. Our running cost on top of rent is your electricity usage.

Dilapidations

The cost of putting a property back into the condition the agreement requires at the end of a tenancy. Mostly an issue with longer commercial leases.

Rates, tax and admin

Rateable value

The figure the Valuation Office Agency sets for a non-domestic property, broadly its yearly rental value at a set date. Business rates are worked out from it. You can look up a rateable value on GOV.UK.

Business rates

A tax on most non-domestic property, collected by the local council. In Blackpool that is Blackpool Council. Whether a particular unit is rated, and for how much, depends on its assessment.

Small Business Rate Relief

A government scheme that reduces or removes business rates for occupiers of smaller properties. Eligibility depends on rateable value and how many properties you use, so check the official guidance.

VAT

Value Added Tax. When comparing quotes from any provider, check whether prices include it.

Sole trader

Someone who runs a business as an individual. Compare the options in sole trader or limited company.

Marketing and insurance

Google Business Profile

The free listing that shows your business on Google Search and Maps. Tenants may use the Rock Factory address on theirs.

Trading address

The address where customers, suppliers and post reach your business. Many people want one that is not their home.

Public liability insurance

Cover for claims if a member of the public is injured or their property is damaged because of your business. Not a legal requirement for most businesses, but often expected by customers and venues.

Employers' liability insurance

Cover for claims from employees who are injured or made ill at work. If you employ people, you will usually be legally required to have it.

Contents or stock insurance

Cover for the things you keep in a unit, such as goods, tools and equipment. Not included in our rent, so arrange your own.

Business use approval

Our written-in-advance check that what you plan to do in a unit is safe and suitable for the building. Every business use needs it.

Want to see how these terms apply to us? Read our rental terms summary.

Sources and official guidance

• Small Business Rate Relief (GOV.UK)
• Introduction to business rates (GOV.UK)
• Find a business rates valuation (GOV.UK)
• Employers' liability insurance (GOV.UK)

Prices are subject to availability. Minimum rental term: one month, then one month’s notice to leave. Electricity usage is charged separately at the supplier rate, with no markup. Business use needs prior approval. Car storage is not permitted.