I could leave it set up like that for storage because it wouldn't take up any more space than it does right now with the Honda generator cover on it, but I took it all off and put it in the storage bag they sent me. Once I initially assembled the whole thing for the first time I was able to leave the ratchet strap and the corner pieces set up like a kit, slip it off and put it in the storage bag, and when I need it again all I have to do is slip it back around the generator and tighten the ratchet strap a few clicks. After that all that's left is to put the four fiberglass rods in place and lower the tent over everything. It's a five minute operation at the most. I think that's one of the best things about this product - it takes up the same footprint as the generator it sits on.
Another reason to take it off during storage is it covers the fold-down handles on the generator so if I want to move the generator I have to remove the cover. Not an issue during use but I do start the generator once in a while and I move it outside when doing so.