America’s Top 20 Cities for Storage Auctions
BY NICK DIULIO JANUARY 19, 2015
Thanks mostly to reality TV shows like “Storage Wars” and “Storage Hunters,” millions of Americans have been swarming auctions at self-storage facilities in hopes of unearthing treasures. But data compiled by SpareFoot shows that storage auctions are more popular in certain parts of the U.S. than others.
To come up with our list of America’s Top 20 Cities for Storage Auctions, we matched U.S. Census Bureau population data with data from StorageUnitAuctionList.com regarding the number of storage auctions that were advertised in more than 800 U.S. cities in 2013. We then ranked the cities—with populations of at least 50,000—by the number of storage auctions per capita.
To learn more about storage auctions, visit blog.sparefoot.com/7024-guide-to-storage-auctions.
Topping the list was Marietta, GA, an Atlanta suburb with a population of 58,356. In 2013, Marietta hosted 346 self-storage auctions that were listed on StorageUnitAuctionList.com, resulting in a nation-leading rate of 0.00593 auctions per capita.
“This is quite fascinating,” said Anne Ballard, president of the Georgia Self Storage Association and president of training, marketing and developmental services at Atlanta, GA-based Universal Storage Group. “But in a way I’m not entirely surprised. I think there are a few things at play here.”
According to Ballard, Marietta has a high population density, combined with a high density of storage facilities that have been in business for a while. That means there’s more demand for storage units, and the property of delinquent tenants—who are the sole motivation for storage auctions—is sold off to pay the overdue rent and make way for new tenants.
Marietta, GA, is a suburb about 20 miles northwest of Atlanta.
“If there wasn’t so much demand, owners and operators could take a little more time getting rid of people who are not paying,” Ballard said. “But when the demand is high, they can’t do that. They need to process the deadbeats out as quickly as possible.”
Secondly, Ballard said, the Georgia Self Storage Association helped pass a state law allowing self-storage operators to use email to notify delinquent tenants about impending auctions, known in the self-storage business as lien sales. [...]
Las Vegas and Miami are by far the two largest cities on the list, with the mostly consisting of smaller suburbs surrounding larger cities.
Or, follow this link to continue reading and find out who else made the list --> http://blog.sparefoot.com/7329-top-cities-for-storage-auctions/