Cutting the Padlock

News & Strategies for Storage Auctions Success

Posted on by Matt Nannis


Jersey-Stamp

New Jersey Gov. Chris Christie recently signed an amended version of the state’s self-storage lien law (Assembly Bill 3035) that enables self-storage facility operators to assess storage-value limitations, tow defaulted vehicles and notify tenants about impending lien procedures via e-mail. The New Jersey Self Storage Association (NJSSA) and national Self Storage Association (SSA) have been working with lawmakers for two years to update the state’s Self-Service Storage Facility Act.

Storage operators can now send lien notifications through any method of verified mail, including private delivery or e-mail. Notices are “presumed delivered when deposited with the U.S. Postal Service or private delivery service and properly addressed with postage prepaid or sent by electronic mail to the occupant’s last know address,” according to the bill statement. In addition, operators no longer are required to send a copy of lien notices to the Division of Taxation in the Treasury Department.

Operators may also place a maximum limit on the value of stored property, as long as the limitation is either in bold type or underlined in the rental agreement. The new law also enables operators to have stored vehicles towed after default exceeds 60 days and absolves them of liability for damages that may occur once vehicles are towed.

This new law makes it easier for facility operators to contact defaulted tenants, and remove the financial burden required to send postage.

It will be interesting to see how these new laws affect the storage auction resale business in the state! We'll keep you posted on any new news on the matter!

Article Source: Inside Self Storage

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Posted on by Matt Nannis | Posted in Updates


Matt Nannis

About Matt Nannis

Matt is the content provider at StorageUnitAuctionList.com. He's going to keep you all up to date and informed!