Storage Auctions

Rate of default

Offline Travis

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Rate of default
« on: October 22, 2014, 09:14:50 AM »
What percentage of storage tenants would you estimate go into default? 

Re: Rate of default
« Reply #1 on: October 22, 2014, 03:08:39 PM »
i think thats way too broad a question depending on where the unit is located and the local demographic. overall? i'd say 10-20% but im just throwing a guess

Offline alloro

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Re: Rate of default
« Reply #2 on: October 22, 2014, 03:13:26 PM »
Less than 1%.

http://www.dispatch.com/content/stories/local/2014/03/29/not-paying-self-storage-fees-can-be-costly.html
"According to the Washington-based Self Storage Association, business is booming. There are about 48,500 primary self-storage businesses nationwide and 1,435 in Ohio, the industry’s fourth-largest state. About 9 percent of Americans rent the units to park excess belongings or to hold items when they move, travel or downsize.

Tim Dietz of the storage association said less than 1 percent of units nationwide wind up at auction."

Offline Travis

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Re: Rate of default
« Reply #3 on: October 22, 2014, 05:50:01 PM »
Less than 1%.
Tim Dietz of the storage association said less than 1 percent of units nationwide wind up at auction."

Yeah, that would have been my guess as well. The average storage facility has 300-400 units and on average, 3 units go to sale each auction.


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