What Is a Storage Auction?
A storage auction is very common in the self storage industry. It is a way for facility managers to free up abandoned and/or forgotten units and reclaim a portion or all losses. Members of the public can go to the preferred auction website to bid on the contents of the storage unit based on pictures. Sometimes you'll find antiques, rare treasures, or other interesting items. Other times, you'll find unwanted goods.
When Can a Storage Unit Be Auctioned Off?
Most of the time, a storage facility will offer tenants a state-mandated grace period to pay any past due amounts. This period usually lasts between 30 to 90 days. Failure to pay the balance in full after this period gives the storage facility the right to auction off the contents of the unit.
What Do I Do With Any Personal Goods I Find?
If you become the new owner of the contents of a self storage unit, there may be personal items such as legal documents, important mementos, and even urns with the ashes. The best course of action it not to throw these items away, but to return them to the facility.