Finding Self-Storage Auctions Chapter 2

Chapter 2

Finding Self-Storage Auctions

State law requires notification of public auctions…

State laws vary; however, self storage managers are obligated to inform the public of the names of the people who have defaulted on their rent obligations and storage units to be placed at auction at said address, time and location. Check your local paper classifieds, web-based local papers and auctioneers for listings of impending public auctions:

1. CHECK– Notice of Sale, Public Notice or Sections of Classified Ads in Your Local Newspapers…

2. CHECK– Internet Resources

Browse for Public Auctions by your state and Zip Code. Check local papers on-line or contact storage facilities directly. Many southern states list upcoming auctions on the internet.

3. CONTACT– Local Auctioneers

Fact: Many auctioneers make a percentage of the auction. They want you there. The more people, the more successful the auction. Some will even place you on their mailing list and advise you when their next auctions will be held.

(NOTE: When you attend your first auction, ask the auctioneer to place you on their mailing list to advise you of upcoming auctions.)

4. CONTACT – Storage Units Manager …

Prior to attending auction as sometimes renters will pay up their back rent before the auction.

• Ask about the terms of payment and the time you have to vacate your winnings or whether they require cash or accept credit cards. Most require a cash payment.

• Ask about size of units that fit your storage needs. You may want to rent a unit to store your winnings.