Mini Storage Owners: Why and How to Hold an Auction

You are a mini-storage or self storage owners? If so, there are a few nonpaying customers? If so, do you know what your options are. After all, the longer the storage bay paid, but still in use, the more money you lose.

Although we ask that you first check the laws of the State, you should be able to host a mini storage auction. Most states do not allow such an auction, but it may be against some rules and restrictions. You may have to wait a specified time before hosting an unpaid storage auction. Or maybe you have multiple attempts to contact the tenant default.

We also recommend that you carefully review the lease contract. There are state, what happens if the payment does not happen? If not, the auction is held, but only after several attempts to contact the tenant. After a certain period of time, it is considered to have left the property.

In accordance with the contracts, public storage auctions if you are not listed due to unpaid invoices, contracts again. Add this important fact. Sometimes it will be enough to help customers pay their bills on time. Plus, there are always some who are nervous and try to protest in this auction, especially if they have not signed the contract.

If the state does not have specific laws leaving the property, 90 days at a good decision. This will take about three months that the tenants had to pay the bill, but decided not to. Starting from the second month that the multiple attempts to contact the current tenants. Start sending out warning letters and try to place more phone calls. Leave messages if possible. In doing so, and friendly. Spin, as if trying to help customers to save his belongings.

If you choose to host a mini storage auction, you can decide how you want to sell. If each auction in sealed containers or the entire storage unit? Since many large furniture items inside, it’s best to host an auction where the bidders to buy all the contents inside of a bay. They are increasingly popular and draw a larger crowd, as bidders see this approach as a better bargaining position.

You can then choose how you want to run the auction. You will manage the bidding yourself or hire third-party auction house? Will you take live or sealed bid? We recommend that you only accept cash, because it is fast, simple and convenient.

It is also important that the deadline for customers. Give them some time to remove the goods to the newly purchased property. Remember, the faster the unpaid storage units evacuated, the sooner you can start renting to paying customers. On average, most storage companies give contractors 24 hours.

Although not required, you might want to rent a dumpster. It’s a good idea to auction off more storage bays. There will always be garbage that people do not want to be home, or trying to sell. Advertising that you have a dumpster on site will be of interest. Many people will see it as a quick and easy way to get rid of junk. Just make sure you use a small fee to help recoup the costs.

Be known before the start of the auction, all personal documents that must be converted or destroyed immediately. This is important because some people store their personal and financial documents, mini storage units. Do not take the risk of being held liable if someone is the victim of identity theft.

Finally, the auction market to the general public. Make your signs, before the company uses the Internet, post fliers on community bulletin boards, or take out a newspaper classified ad. After a public storage auction announced that the general public, you just have to sit back and wait. When you arrive at the auction and if all goes well as planned, it will not only pay off the losses, but to profit.

You may also like...
There are no comments just yet, why not be the first?
Leave a Comment
Add your picture!
Join Gravatar and upload your avatar. C'mon, it's free!