What Self-Storage Auctions Are?
Published on Wednesday, 18 July 2012
The self-storage industry is getting more and more popular among people. It is basically a united States-based industry. But recently it is getting very popular in the United Kingdom, France, and Australia. What self-storage operators do is to rent space to tenants. They provide containers, rooms or outdoor space in which everyone can store and access his items. What is specific for this kind of space rental is that the companies do not have access to the stored contents. People can keep there whatever they want. This kind of space rental is used from small business owners or from people that want to store personal belongings for which they do not have space at home.
For this service the tenants pay a rent. The payment is on monthly basis. Self-storage companies do not take possession or control of the stored contents, unless a bill is unpaid. But if a tenant does not pay his bill the company has the right to hold a storage auction or lien to vacate his unit. By such a condition in the least self-storage companies secure themselves that each tenant will regularly pay his rent. This way they can recompense the losses. However, any profit which exceeds the amount owed on the specific unit is compensated to the renter. Anyhow the winning bid hardly ever covers the mentioned rent.
Important precondition is that if the tenant pays his unpaid bill before the auction begins he will reclaim his thing. If this does not happen the company holds storage auctions that are opened to the general public and every one can bid for the items. Many people are looking for such auctions to buy nice things at low prices. Sometimes you can find real bargains at these sales. To facilitate this process many web sites that provide all the information needed to attend sales of stored goods and personal property at self-storage companies are created. Every month they publish a self-storage auctions' newsletter with the locations, times, dates, and phone numbers of each and everyone of the facilities conducting auctions.
Self-storage auctions are live. They are held in traditional auction style where winner is the highest bidder. In case you are lucky enough to win a challenged self-storage unit auction, you may buy the whole contents of the unit. You have to pay shortly after the action is over. Only when you pay you can clear the unit. Moreover, you are expected to extract everything that is in this unit, throw the garbage and even clean the floor. So as you take possession of the whole unit it is positively in your favor if you manage to see what is in the unit before the beginning of the auction. This way you will be able to decide for which unit you would bid and how much money you could pay.
Some auctions are scheduled once or twice a year, but they may be conducted monthly, or they may even have no any schedule, but hold auctions in some specific occasion- for example when several units have been foreclosed. It is useful to visit these sales whenever they are conducted because there you can find real treasures. Antics, kitchen appliances, electronics, furniture, sports equipment, garden equipment, books, jewelry - there are simply no limits what you can find.
These actions could be a great chance for you to establish a beneficial secondhand business. Or you can just find there cheap things if you have to furnish a house on a budget. No matter what your reasons are you will most probably be very delighted if you participate in such a sale. You will have interesting and useful experience and on top of that you can make a profit.
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