There is a tremendous increase in popularity in today ‘s knowledge sector of storage unit auctions, particularly due to the high ratings seen from reality cable TV shows that are specialized in it. cheap self storage near me has some nice tips on this. Shows like Storage Wars fuel the curiosity of the public in discovering hidden gems in unclaimed storage units at auctions around the world. Many people have at least some kind of experience with merchandise or products from the second hand and know the resale value in a thrift shop or among collectors.
Over the past several years, the high rate of home foreclosures has created an explosion in the storage unit management company industry because the things people have accumulated through the years can not fit into the smaller home or apartment they are now living in. We need a place to store everything and the best choices are storage units. But, if they end up becoming more financially unstable and can not afford monthly fees for their storage unit, then they can have their things to the highest bidder that were in the unit auctioned off to the public.
This may seem to be unfair or needless, but the storage unit company is actually trying to reclaim unpaid rental fees owed to them through a legal method provided by the law. Otherwise the unit will be unavailable to them every month as a source of income as it was packed with unpaid renters’ belongings. This way, they will hopefully get enough money with the auction to pay back rent, and they can also clear out the unit to allow current tenants to move in.
The storage unit management company is legally obligated to provide notification via the media using newspapers , magazines, or broadsheets so that the renter knows in advance about the upcoming sale. We have to get their account up to date or new until the time of the actual sale, or the auction will continue. Last-minute cancelations occur all the time, so the prospective bidder will contact the rental firm on the day of the auction to check if it is still being held.
Data about the storage unit auctions can sometimes be difficult to find, but if the patient and resourceful bidder knows where to look, he will find this information. First, identify a specific area you ‘re willing to travel for an auction, and map the surrounding area. Driving several miles to an auction storage unit may not be a productive way to spend your time, particularly if you’re bringing a trailer or truck to take away the contents of a storage unit if your bid is successful.