All You Need to Know About Self Storage Auctions

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Some people abandon the storage units that they are renting because of a few reasons. Once they fail to pay the rent, they lose their rights to the property. The property owner may take over and call for an auction to come up with money to pay off the unpaid rent. The good thing about going to storage auctions is that you get to see valuable items and buy them. But because there are people like you who would be looking around for fine items, an auction would be most appropriate. Whatever is left can be put on auction. It could be furniture, books, china, and even personal belongings. While some people do not like the idea of bidding on used items, some are actually thrilled by it. People who go to auction sales are usually surprised to find rare items for sale at a very low price.

You should keep in mind, though, that storage unit auctions come with rules. In fact, many states impose strict rules on such types of auctions. These rules will have to be observed, otherwise, the tenant can sue the storage facility owner. There have been cases when the items sold at auctions were returned to the original owner.

The storage facility owner should have informed the occupant about payments and a considerable amount of time should be given for them to make payment. The lessee should have been contacted by phone and should have been sent a letter regarding unsettled financial obligations. Payment arrangements should be clear. When the lessee fails to respond within the given reasonable amount of time, the storage auction may be considered.

Then again, storage facilities cannot just quickly go for auctions. Generally, they would have to wait for about 90 days before doing the sale, but the length of time varies among states. Some may only order 30 days of waiting period.

In some cases, the renter may have made a signed statement indicating that certain items will be given to charity. The recipient charity organization should collect the items within 30 days, or else, they will be included in the auction. The storage facility owner should make efforts to contact the charity within this time allowance.

There are certain items that cannot be placed on sale. These include identification documents (birth certificates or social security cards) and pictures. These personal items should be sent to the existing address of the lessee. The reason why these materials cannot be sold is because of the high risk of being used for illicit purposes, like identity theft. If the address of the old renter cannot be provided and the materials are not claimed immediately, then they will have to be discarded appropriately.

Customers, on the other hand, should be aware when attending storage auction events. You may find old items, but some of them may no longer be of any use for you. Do not participate in auction sales just because a friend dragged you there. Examine the items being auctioned and ask yourself if you really need them.

Storage auction events are advertised on newspapers or on the internet, so, watch out for these events. Also, you may ask people who usually participate in these kinds of events.

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This page contains a single entry by the boozwatt team published on February 28, 2012 3:10 PM.

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