If you are a storage customer and you’re having trouble making your monthly rental payments, you need to get a handle on your situation immediately, as the consequences for delinquent payments on a storage unit are increasingly unpleasant and limiting. As soon as you begin to have trouble making your payments, you should be in the office discussing the situation with your facility’s property manager. Making contact with the manager regarding your rent payments is the most important thing you can do as soon as you start having trouble.
Are you a self storage customer facing the possibility of having your belongings sold at auction? Don’t worry. It’s more common to fall behind on your monthly storage rental bill than you might think and, depending on how far along you are in the lien process, you still have options for saving your items from the chopping block. The way most self storage companies are set up, the property manager at your facility has a lot of say in who finally goes to auction and who gets the courtesy and second chance of a payment plan or special arrangement. Continue reading “Tips for Negotiating to Get Your Delinquent Storage Unit Back”
It’s happened plenty of times before, even though you’ve done everything right. You called ahead to all the storage companies in your area and got their list of upcoming auctions. You entered all the data into your calendar. You cleared your schedule. You secured the attendance of your nearest buddy with a sizable vehicle for helping you haul away the goods. You show up early to ensure nothing goes wrong, yet you find…no one there. No auction signs. No visible property manager giving an intro in the parking lot to a throng of anxious auction hunters. It got cancelled! Continue reading “Why Self Storage Facilities Sometimes Cancel Their Auctions”
Today we’re answering a reader’s question that should be of interest to all storage auction hunters. Ray sends us this excellent question regarding the legality of firearms found in a repossessed locker by a winning bidder:
“I found a shotgun in a storage unit that i bought from an auction and
don’t know what to do with it or the laws on it?”
What’s the difference between a storage auction expert and the average weekend warrior? Two main things: Continue reading “What Separates Newbies From Storage Auction Experts?”
Here is a question I get pretty often from the folks that call up to ask about the next local self storage auction, as well as from people I talk with in town that say they’ve been thinking of trying their hand at the next public sale. Is it really possible to make money off these storage auctions? they ask me. As I always tell them, Continue reading “Is it Really Possible to Make Money Off Storage Auctions?”
Storage wars has been making a splash with reality television fans and storage auction gurus alike. Although it’s stylized in the typical fashion of most reality shows, meaning most characters’ egos are overblown and designed to clash with one another, there are some true and valid points here as regards the auction circuit. How much of this initial sneak peek into Storage Wars is legitimate and how much is worthless television fluff?
Obviously, the night-vision goggles-donning little person falls squarely in the category of television fluff, Continue reading “Introducing the Reality Show “Storage Wars””
When it comes to auctioning off a repossessed storage unit, both the delinquent tenant and the storage company have strong interest in seeing this process carried out legally. That’s because the tenant usually wants their belongings back or to prevent a sale, whereas the self storage company needs to be careful to protect itself against a potentially devastating wrongful sale lawsuit. Most of the time, when we’re talking about wrongful sale lawsuits pertaining to the storage industry, all it takes is one or two slip-ups on the part of the property manager concerned with handling the delinquent storage locker.
The Law’s Probably on Your Side
Unfortunately for self storage companies, Continue reading “How Do Wrongful Sales of Repossessed Storage Units Occur?”
With more and more mainlanders being struck by the storage auction bug, this money making pastime has started making a splash in the pacific, as Hawaii residents start attending more and more self storage auctions. Self storage facilities have provided essential public services, especially in Hawaii where large sections of the demographic are transient, and where moving your home and family to or from the middle of the ocean poses unique logistical challenges.
Are increased storage auctions in Hawaii the result of a depressed economy? Some folks seem to think so. Hawaii was especially hard hit by the global financial crisis as consumers all over the world tightened their belts and refrained from spending money on anything non-essential, like tourism. Deprived of one of it’s most crucial sources of income, Hawaii has seen deep and widespread impact on the health and sustainability of local economies. Forced out of business by a dried-up tourism industry and unable to find enough work to sustain their bills, many local businesspeople have had difficulty paying their bills.
With mortgages, utilities and food taking precedence, many monthly rent bills have piled up for Hawaii’s storage customers, leading to an increase in the frequency and breadth of self storage auctions. Residents with a little extra cash available are capitalizing on this trend, and storage auctions in Hawaii have become something of a miniature gold rush for locals that know how to spot valuable storage units and turn their contents into more cash. Hawaii’s self storage lien laws allow storage facilities to sell the contents of their non-paying customers’ storage units in order to recouperate some of the money lost on uncollected rent.
Making money off of storage auctions is as easy as keeping abreast of where and when they are happening, and showing up with some pocket money to buy defaulted storage units with. The winners of these storage auctions then go on to sell their winnings piece-by-piece in yard sales or on the internet. Placing items they’ve retrieved from storage auctions online is a way to sell them all over the world. Some auction winners use eBay while others have had success with local forums and other online marketplaces.