Get Oriented With Storage Auctions

When you need extra storage for your business, you can check out the cheap self storage facilities in your area. This type of business will accommodate and take care of your stored items until such time when you need them again. For a fee, you can store your things for as long as you want. However, you will be asked to sign a contract stating that in the event you default your monthly dues in their facility and will just leave your things behind, they will have the right to put such items in an auction.

How does a storage auctions work?

  • Before the bidding proper will commence, the attendees will be informed of the set of rules prepared by the storage facility management.
  • Each attendee will be allowed to inspect the contents of the said storage unit from the entrance.

  • Unlike the usual bidding process wherein each item will be auctioned, in a storage auction, the attendees will only bid for the entire contents of the storage unit.
  • When the bidding is completed, the winners will then be given just enough time to pay or to forfeit the contents they bid for.
  • Most of the time, the management will only deal with cash payment but there are also rare times when they accept cards. This is why, if you are interested in taking part of this activity, you should first ask about this.
  • Depending again on the state laws in that particular area, the contents might be taxed.
  • The winner will only be given a certain period of time to remove all the won contents from the unit.

  • Before the action is even contemplated, the owner of the facility will usually contact the tenant in question first for a number of times.

If you are interested in storage auctions, you should be able to find upcoming activities like these from newspapers in your area or just to be sure, you can check the storage facilities in your area and really take the time to make a call. This way, you will really hear it from them.

If you are a possible tenant, you should be responsible for your things as it will indeed be such a big loss if you will just leave your things behind. After all, you took the time to send them to a storage facility!