What are self-storage auctions?

Answer by  fireant35 (7)

Self storage centers offer different sized spaces for rent. The renters signs an agreement which includes the date the rent is due. If the renter defaults on the agreement, the storage facility posts an ad which advertises sale of contents in the space to the public if the renter doesn't fulfill the agreement by a certain date.

Answer by  Shadowaic26 (6)

Self storage auctions are essentially what the name implies- the storage company auctions off the contents of a storage unit for which payments are delinquent. The storage company does not own the contents of the unit, so bidders can only glance at the contents of the unit, and are not allowed to touch the contents until the auction is complete.

Answer by  DouglasEarlClore (1236)

Each state has laws concerning how long self-storage businesses must hold items without storage unit payment before they are allowed to auction off the contents to recover storage fees.

Answer by  Sinefey (457)

Self-storage auctions are what happens to the contents of a self-storage unit when the renter of the unit fails to pay the bill. The self-storage company then has legal claim to the contents and can sell off everything in it to the highest bidder.

Answer by  tamarawilhite (17883)

Self-storage auctions are when the contents of self-storage units are sold at auction. This usually occurs after a person has not paid their storage fees for several months, at which point the storage facility owner has the right to sell the contents to pay the unpaid rental fees.