How Do Storage Units Get Auctioned?
Hi guys, welcome to Flex TV. My name is Hope, and I will be answering all of your storage -related questions. Today’s question comes to us from Austin, and Austin wants to know how do storage units get auctioned? Good question, Austin. So there are two main reasons somebody would want to know about auctions. I don’t know which one it is, so I’m going to answer both. So the first reason is you’re interested in buying a storage unit at an auction to maybe get something interesting, some antiques, some collectibles for yourself. The second reason is you might be afraid if you’re storing something at a facility that they’re gonna be able to just sell it right under you. So I’m gonna dig right into it. How do storage units get auctioned? So basically the only way that your storage units can be auctioned is if you’ve neglected to pay it for a certain amount of time. Your storage contract will define specifically how long before the storage facility can sell your things in the event that you fail
to pay or abandon your unit in any way. Usually it’ll be around 90 days but of course make sure that you check because it can be a different policy from one facility to another. So they can’t sell your things unless you haven’t paid for your storage rent. If you’ve neglected to pay over a certain amount of time, yes your things legally belong to the facility now and they can sell your belongings in order to cover their expenses for you not having paid for your units. The second type of person is maybe a person that wants to take part in an auction so that they can buy a storage unit and buy things out of a storage unit for themselves. So for that purpose there are a lot of third -party companies that auction storage units off. So to find those really all you need to do is a quick internet search for auctions of storage units. You can find different auctions in different places. There will of course be a variety of different things you can get from a storage unit. You know, people just will
store anything. So a lot of people find it very fun and interesting to be in those kinds of auctions. So in conclusion, your storage units cannot be sold to anyone if you’ve been making the payments correctly in the right time, and you haven’t abandoned your unit. If the storage unit is yours and you’re paying for it, you’re fine, you don’t have to worry about a thing. No one can legally take your stuff out of it. However, if you’ve neglected payments, your facility can definitely take your belongings and sell it to cover their own expenses. So in short, Austin, just make sure you make your payments. And if you’re looking to go to an auction and buy some stuff, go ahead, have fun and good luck. I hope I answered your question. Thank you. See you next time.