storage auction laws

A Newbies Perspective: Attending My First Storage Auction

Over the weekend, I decided it was time fore me to get in on the auction action. I wanted to get a first hand experience of exactly what happens at each auction. My research started a few days before the auction. I started by using the Storage Unit Auction List state by state database, and was able to quickly find an auction in our company’s home city of Asheville, NC. On the day of the auction, I got up much …

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Self Storage Laws You Need To Know About!

Today, self storage is a thriving business in the United States and all over the world. Since the 1970’s storage facilities have continued to multiply in number and expand in size. Somewhere along the way, facilities started to realize that they needed a plan of attack when tenants couldn’t, or refused, to pay up on their current or overdue rental fees. And so storage auctions were born out of a necessity for facility owners to recoup the loss of income …

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Guest Blog: A Look At Ohio’s New Storage Lien Laws

On December 20, Ohio’s governor John Kasich signed an amended bill into law allowing self-storage operators to advertise lien sales in other commercial outlets. Operators are no longer limited to using local newspapers as advertising channels for self-storage auctions, which saves them considerable amounts of time and money. For Ohio in particular, auction notices formerly had to be published once a week for two consecutive weeks in a newspaper of “general circulation in the county where the facility was located.” …

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An Interview with John: an Educated Buyer

Here at Storage Unit Auction List, we love talking to our subscribers. Any time we can chat with you and hear about your experiences in the industry, using our services, or anything else storage auction related…we pretty much jump on the opportunity. Trust me, we’re all ears. So when one of my coworkers here in the office passed on John’s contact information to me, I was very excited to have the chance to talk to him. In the 3 years …

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Guest Blog: 6 Things to Watch Out for During a Storage Auction

I’m very excited to introduce John Donegan, the content writer for our friends at www.sparefoot.com. John will be joining us once a month with his unique insights, and I’ll be doing the same over at Spare Foot–so make sure you head over there too for more great blog posts! But right now, I’m gonna kick back, relax, and let John do the writing! Despite all the stories you’ve heard of people striking it rich at storage auctions, unfortunately there are …

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It’s Called “Self” Storage for a Reason: A Response to an Auction Basher

Well, we know there are naysayers out there who love to tear down the storage auction profession based on out-of-touch judgments.  Here’s a quick news story of that caliber I ran across recently that I will gladly take a moment to rebut without remorse. The Scathing Article The article reads as follows: “With respect to your article “Trash or treasure? Think quick, bidders,’’ March 25, might I add the following comment? As a humanitarian, I was repulsed to know there’s …

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Are you Free & Clear?

Every state has outlined their own laws for storage auctions. Some of these laws are outdated and have yet to catch up with the popularity and demand of today’s storage auctions. With the popularity of the reality shows, it’s very easy to get confused by what’s legal, and what’s not. One such law that causes much confusion is the The ‘Free & Clear Clause’. This refers to whether or not a bidder must take over debts owed on property purchased …

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The Digital Age and The Legislature

In recent months, we’ve seen a few states pass legislation to amend the legal requirements placed on facilities in regards to publishing public notices for storage auctions in local newspapers. Tennessee and Florida have both lifted the obligation to advertise auctions in newspapers, instead allowing facility owners to post their auction schedules online. Facilities are still required to notify the unit’s previous tenant either by email or hand delivery to alert them that unless payment is received, the contents of …

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What are Buyer’s Premiums?

A buyer’s premium is a fee added to the total cost of an item or unit auctioned. It is generally around 10%, and is added to the final bid price at the end of the auction. This normally covers the auctioneer’s expenses such as cataloging and inventory of items auctioned. Lucky for you, buyer’s premiums are not normally utilized at storage auctions. Most professional storage auction bidders will refuse to participate in a bin auction that has a buyer’s premium, …

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Bin Auctions Versus Piece Auctions

Bin auctions, are the bread and butter for professional storage bin buyers. The word “bin” refers to the actual storage unit itself, including everything inside of it. Bin auctions are generally more common than piece-by-piece auctions. The bin auctions are the type seen on A&Es show Storage Wars—you know the deal: the doors go up, you take a peek inside, and the winner gets all. There is an element of mystery when you buy a unit, because you’re not allowed …

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