Concord's self-storage experts explain storage auctions

Concord's self-storage and storage auctions
Concord's self-storage experts help renters understand the events that follow non-payment. Storage facilities have rules and regulations, including non-payment policies. Renters typically have a specified amount of time to pay rent every month. This may range from 30 to 90 days, upon which the unit will go up for auction. Companies usually auction units to redeem lost profit for non-payment and clear out the unit for a future renter.

Pre-auction period
During this stage, facilities usually advertise the upcoming storage unit auction and make arrangements for an auctioneer to conduct the process. Auctions are done on-site, although some may be done online. Bidders must register in advance and check the auction details to establish whether it will be done in person or online.

The auction
At the start of the auction, the company will cut the lock on a unit and allow bidders to get a look inside. Note that the bidders are not permitted into the unit and can only glance at the contents from a distance. For online storage auctions, a picture of the inside of the unit will be attached with a few details on the exact items. Several rules regulate the bidding process to promote fairness, including:

• Bidders must bid on entire units and can't bid on specific items alone.
• All bids have to be out in the open with no sealed bids.
• The highest bidder is the winner and must pay the amount in cash, beginning with a deposit or full payment on-site.
• Winning bidders must empty the unit in 24 to 48 hours.
• The units' costs heavily depend on who's doing the bidding and the potential inside. But you may get a unit as low as $10 with a fully packed unit going off at $1000 or more.

The post-auction period
There are rules surrounding what can and cannot be done with the items. For instance, critical documents belonging to the previous renter, like birth certificates and family photos, are retained in the facility where attempts are made to return them to the owner. Any firearms are given to law enforcement. Since vehicles have no titles, they can't be handed over as a whole but sold in parts.

What to do when a storage facility wants to auction your belongings
Losing your items through auction is disheartening. Still, storage auctions happen often, and a large group of bidders is on the lookout for new auctions. If you have reason to believe that your unit may be up for auction, it's better to act sooner rather than later. The truth is that companies prefer to have renters pay the balance rather than auction it. Look through your storage lease agreement to determine how long after non-payment the unit will be locked. Then make payments before it's overdue.

Work with Concord's self-storage experts
​Storage options are a great solution for more space and keeping unnecessary items for future use. It's important to work with Concord's top self-storage experts, who can guarantee the safety of your items with unrivaled customer service. Mr. Storage is locally owned and managed with affordable pricing. We have storage facilities in Concord, Salisbury, Harrisburg, Kannapolis NC, and Midland. Contact us today to reserve your unit.

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