Customers defaulting on agreements is a problem with any business. Services have been rendered and not paid for; in the case of a self storage facility, valuable space can be taken up by people who are not paying their monthly rents. The company needs the space as well as the money, so what happens to the goods inside the unit?
The storage company auctions off the good, that's what happen! It's a part of the agreement between the tenant and the company who operates the units. If the tenant fails to pay their rent on time or close to it, the company has the right to auction off the goods in the unit to the highest bidder. This happens much more often than you might think!
Now, if you are the person who defaulted on the payments you agreed to, you're not going to be too happy about this auction. On the other hand, for those of us who love finding great deals on second hand goods, storage auctions can provide quite the high. Why bother with a garage sale when you can get quality goods at a storage auction, at less cost and a lot less driving around on a Saturday morning!
How do they work?
Auctions at self storage facilities might not work exactly as you think. When I first heard of these treasure seeker's dreams, I pictured an auction which worked a lot like a garage sale. Bidders saw the goods trotted out one by one, and bid on each item as it came to the table.
Well, that's not how these auctions work. Instead of an auction where the goods are visible to everyone individually, think instead of a surprise box. You view what's in the storage unit from the door, instead of seeing items laid out or trotted out in front of you. That means you don't always see all of the items in the unit.
If you picture that in your head, you get an idea about the excitement many of us who frequent these auctions feel. Sure, you can see the ten speed bicycle, the end tables, maybe even a television or two, but when it comes to self storage, the true mystery lies in what is hidden. Who knows what could be behind the first pieces you see, or inside the different boxes that line the walls?
Once you get a look inside, it's time to make up your mind. How much are you willing to spend on the whole unit?
Wait a second, pay for the whole unit? That's right. When you bid at a storage auction, you are buying everything in the space, not just individual pieces! It's all part of the fun, as you try to guess at the value of what's inside.
If that doesn't get the second hand goods fan happy, I don't know what will. Self storage auctions are a great way to get a rush and have a chance at making some incredibly good deals.
There are many uses for self storage units. Author John Ramallo is a free lance writer that has been studying the self storage industry for years. He has written several articles on the best uses for climate controlled storage units. You will be surprised at some of the things he has found! Visit Ray Self Storage for the latest in Greensboro NC storage options.
Orignal From: What's Better Than Garage Saling? Shopping at Self Storage Auctions!
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