Have you ever been interested in attending a storage auction? Most storage facilities hold them once a month. Call a facility around your area or check out their website to see if they have any upcoming auctions posted.
Things to remember before attending an auction:
Make sure you always check with the facility and see if they are still holding their auction. Auction tenants have up until the start of the auction to pay on their unit. Therefore, the facility may have four units scheduled for auction, but it could ultimately get cancelled if the auction tenants pay their balances. Certain facilities keep the amount of units going to auction up-to-date on their website, or Facebook or Twitter. This allows you to follow them and not have to call to make sure the auction hasn’t been cancelled.
Check the rules and regulations of the facility’s auctions. Here are a couple of common rules you should know regarding the auction process.
1. What forms of payment are accepted? Some facilities may only take cash, while others may accept credit cards. Most will not accept a personal check.
2. Is there an auctioneer premium added to the account? Some auctioneers will add 10- 20% onto the winning bid. Example: if you are the winning bid at $100.00 X and the premium is 10%, then you would owe $110.00 plus tax (if applicable).
3. Is there a cleaning deposit? Some facilities may charge a $50.00 (or more) cleaning deposit, given back to you when you clean the unit out within the allotted time.
4. How long do you have to empty the unit? The usual amount of time is with-in 24 hours. However, ask the facility manager because they may be willing to work with you if you purchased a large unit. Also, always ask them if they have a move-in special. Most of the time for $20-30 dollars you can rent the unit on special for another month. If the facility is full they will need you to move out asap because they will need to rent that unit as soon as its empty.
5. What time is the auction? There is a set time for the auction. They can never be started before the posted time on the legal ad, but can start after that time. Please make sure you are there on time. Arriving 10-15 before the auction gives you plenty of time to sign in and familiarize yourself with the process; no need to arrive an hour early! Registration will only take a few minutes. Some auctioneers will not allow late comers to join.
6. Is there an auctioneer or is it a silent bid auction? The auctioneer will do a live auction for a unit. A silent bid will consist of people writing their highest bid on a piece of paper and the unit going to the highest bid.
7. Can you go into the unit? No, you can only view the contents of the unit from the outside. The managers are not allowed to go into the units either, so they do not know exactly what is in them. Bring a flash light to be able to see what is in the back.
It is very important to familiarize yourself with the auction process before you start buying units. Please come out to the next storage auction near you. Who knows what you will find!
Our Auction Calendar can be found at: https://www.storageoh.com/auctions
Follow our auction updates on twitter: @storageforyou
Follow us on Facebook at: Stopngo Storage Management