Storage Auctions

Florida Self Storage Auction Laws

Florida Self Storage Auction Laws
« on: January 04, 2012, 09:09:28 AM »
Here is a link to the laws regarding self storage auctions in Florida:

http://www.flsenate.gov/Laws/Statutes/2011/Chapter83/Part_III

The short of the current law is:
HOW THE UNIT GOES UP FOR AUCTION:
After 5 days of non payment the storage facility may deny the renter access to their unit.
After not receiving payment the facility must issue a certified letter announcing to the owner that the unit will be up for sale if they do not pay within 14 days.
After those 14 days the facility must advertise for two consecutive weeks the upcoming sale of that unit in a local newspaper. They must include a brief description of the contents, the name of tenant and location in their advertisement.
If there is no newspaper in the local area the facility must post notices in three places near the facility at least 10 days before the auction.
After 15 days of the notice being placed in the paper the unit may be put up for auction. (this is 29 days after the owner has received notice)

ONCE THE UNIT IS SOLD
The buyer takes ownership of the property on good faith, however you do not take control of any items that have a lien against them. (so if the original owner has a lien against their car and you find the car it's not actually yours)

That's my understanding of the law, but I'm not a lawyer, if you live in FL. you should probably read the actual law before you get into the game.

Re: Florida Self Storage Auction Laws
« Reply #1 on: January 04, 2012, 09:41:51 AM »
Always interesting to see how different states work.

Offline money4nothing

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Re: Florida Self Storage Auction Laws
« Reply #2 on: January 04, 2012, 10:06:36 AM »
That is right.

Knowing the laws before you start is a must.

Re: Florida Self Storage Auction Laws
« Reply #3 on: February 02, 2012, 08:51:17 PM »
Did you know that in FL if a lkr sells for more than is owed on it that the facility has to give the overage to the non paying owner?    I found that interesting. 

Re: Florida Self Storage Auction Laws
« Reply #4 on: February 02, 2012, 09:01:26 PM »
Well do you think that this is done?   Probably auctioneer will write down unit sold for what was owed.

Offline MovieMan

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Re: Florida Self Storage Auction Laws
« Reply #5 on: February 02, 2012, 09:14:15 PM »
Did you know that in FL if a lkr sells for more than is owed on it that the facility has to give the overage to the non paying owner?    I found that interesting. 

That is true in MANY states.

Offline alloro

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Re: Florida Self Storage Auction Laws
« Reply #6 on: February 03, 2012, 10:31:50 AM »
The purpose of the auction is for the facility to recover it's losses, not to profit off items they don't own.

Re: Florida Self Storage Auction Laws
« Reply #7 on: February 03, 2012, 03:39:02 PM »
Did you know that in FL if a lkr sells for more than is owed on it that the facility has to give the overage to the non paying owner?    I found that interesting. 

Thats the law in WA and if they can not find the owner they can not keep the overage. Once the bid equals what is owed there is no incentive for the facility to get more.  That said at least in the past many lockers would not reach what is owed.  If that happens it does not mean the renter is clear.  In WA they will sell the remaining debt to collection agencies if they can get one to buy it and they will report you to the credit rating agencies.


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