In the storage industry, sometimes tenants abandon their units for one reason or another. What happens to their possessions, you may be wondering? As seen on TV, storage auctions are real and do happen frequently in this business (although not nearly as dramatic)! Storage Wars
Storage wars or auctions can be held in person or online. They begin like any normal auction and start at a certain bid and are eventually sold to the highest bidder. The winner of that auction will then have an amount of time to clear out the unit. Generally, before they are given access to the unit they have won, they must put down a deposit. This deposit ensures that the winner does not pick through the items, take anything valuable and leave trash or debris for the faculty to deal with. Once the unit is thoroughly cleaned out, the deposit is returned, and the unit can then be used for the next tenant.
These auctions are useful for both the buyer and the facility. The buyer can find and sell valuable items that they find while clearing out the abandoned unit so that in turn, the facility can rent it out once again.
If you want to “dip your toes” in the storage war waters, here are a few tips:
- Call area storage facilities and ask if they have any upcoming auctions. Visit a few on the day of the auction to get a feel for things or even to start bidding!
- Visit websites like storagetreasures.com, lockerfox.com and bid13.com. Online auctions are a bit like bidding on eBay and can be done from the comfort of your own home.
- Before you bid, decide if you have capacity for large items like furniture, because you will be required to remove all items within a short time frame.
- If you win a unit, plan to clear it out ASAP. Bring gloves, hand sanitizer and storage bins.
Some people generate a nice extra income buying abandon storage units. Just remember to think about your resale options so you don’t end up needing a storage unit of your own. If you find yourself in need of storage, In Towne Self Storage offers very affordable month-to-month leases, give us a call!
Self-Storage made EASY!
- The only Self-Storage facility in the Fox Valley with an indoor depressed dock, AND you have full access!
- Over 60,000 square feet of climate controlled storage.
- The most competitive rates around!
In Towne Self-Storage will meet and exceed your self-storage needs!