The requirement to keep documents for a certain period of time presents a variety of challenges — not the least of which is finding adequate storage space. Often, storage decisions are made in haste and driven by an “out of sight and out of mind” mentality. As a result, it’s quite likely that you’re paying unnecessary storage charges for documents that are well past their retention period.
If you’re storing your business records at a mini storage facility, then ultimately it’s up to you to keep track of what you have stored in your unit and periodically purge your records. Your mini storage provider is certainly not going to keep track of your retention for you. And even if you have additional warehouse space for storing your documents, your overhead costs for operating and maintaining that space can add up.
That’s why, when it comes to storing business records, you’re better served by engaging a professional records management company. A reputable records storage vendor will help manage your retention so that your documents and files are destroyed immediately when they’ve reached their retention expiration date. This alleviates the unnecessary expense of storing your records longer than absolutely necessary.
Of course, there’s no overarching rule for how long documents need to be retained. However, state and federal laws, along with regulations specific to your industry can provide you with benchmarks for how long to keep specific types of documents. Before you consider a storage option, it’s wise to familiarize yourself with various retention guidelines.
Archives Management Centers can provide you with expert guidance for managing your retention. Since 1991, we’ve been the leading provider of records management services for Palm Beach, Martin, St. Lucie, Indian River and Okeechobee counties.
To find out more please contact us by phone or fill in the form on the page.