Storage Auctions

Rumor Has It!

Rumor Has It!
« on: March 30, 2011, 12:11:38 PM »
The rumor going around at the auctions today was that our local storage facilities will be trying to get SOME money from the delinquent tenants and are demanding that they remove their stuff!  So, what little money they get, it will have to do.  The only auctions will be if they are unable to reach the tenant by phone or mail.  Has anyone else heard this???  Healthe :(

Re: Rumor Has It!
« Reply #1 on: March 30, 2011, 12:27:28 PM »
It is probobly what you say, a rumor.

I can't see that any storage facillity that are doing business will do this.

1. They make more money in the end by auction it out.
2. They generate in some cases new customers from auctions.
3. After 3-4 months of no contact and payment, whay would they use more energy and money on the case.

So this is nothing else then a joke or rumor started by someone who is tierd of newbies, or someone who can make it in the auction business.

Offline MovieMan

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Re: Rumor Has It!
« Reply #2 on: March 30, 2011, 04:29:34 PM »
The rumor going around at the auctions today was that our local storage facilities will be trying to get SOME money from the delinquent tenants and are demanding that they remove their stuff!  So, what little money they get, it will have to do.  The only auctions will be if they are unable to reach the tenant by phone or mail.  Has anyone else heard this???  Healthe :(

This has been happening in my area for a year or more. Public Storage here does that. They give the defaulting owner a chance to bring some cash in (in some kind of "reasonable" attempt to pay it down) AND let them in to the locker to take what they want....they're supposed to clean it out, but some don't, and THEN it goes up for auction. Not too good a deal for we auction buyers.

Before I hear from other posters here about how bad that is, etc, etc, let me just say you would be preaching to the choir. Yes, we know it's wrong, maybe illegal and just plain bad for us, but it happens none-the-less.

Also, this seems to vary from one Public Storage district manager to another as facilities 75 to 100 miles apart take a different track on this concept.


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