The Facts about Self Storage Auctions

self storage auctionsPeople rent self storage units for a variety of reasons. Some have run out of room in their home’s storage spaces and utilize a self storage unit to hold things like seasonal items or extra furniture. Others rent a unit when their home is for sale so they can clear out clutter for home staging. Whatever the reason, renting a self storage unit provides peace of mind that your belongings will be safe while you free up space in your home.

However, sometimes people either become delinquent on their monthly rent, or they move away and simply leave their belongings behind in the unit. The self storage facility will make several attempts to contact the owner of the unit, but if they’re unsuccessful the facility must auction off the contents of the unit to help pay for the amount that is owed to them, and also to empty out the unit for a future tenant.

Why Participate in Self Storage Auctions?

Self storage auctions offer a great opportunity to purchase everything within the unit for what can be a very reasonable cost. Most buyers simply turn around and resell the items they’ve bought for a nice profit. Some bidders take part in self storage auctions because they enjoy the hunt for collectibles, antiques and other valuable items that may have been left behind.

Anybody over the age of 18 may participate in self storage auctions and purchase a unit; however most people who take part are somewhat professional buyers who actually have an idea of what they’ll do with the contents of the unit. Some own antique shops or consignment shops and add the contents to their current inventory.

Online Storage Auctions with Sentinel and iBid4Storage.com

Sentinel Storage has partnered with iBid4Storage.com, an online auction company who has been involved with self storage auctions in Canada and the United States for the past 22 years. Their goal was to build a website that easily showcases self storage unit auctions for both buyers and sellers. Bidders simply need to register on the iBid4Storage website and create an account, and then they can look for storage locker auctions nearest to their location. All units are sold “as is”, and when the highest bidder wins, the total due plus any applicable taxes must be paid in full within 24 hours at the self storage facility. The bidder will then have up to 48 hours to go claim the items in the unit.

Online auctions make it easy and convenient for bidders to choose a storage unit. After you’ve created your account, iBid4Storage.com will alert you of auctions closing soon in your area so you can immediately get to bidding on those buried treasures! Scroll through photos of the units up for auction and then enter your bid on the one that looks the best to you.

Sentinel Storage has several online storage auctions taking place right now! Who knows- maybe you’ll hit the jackpot!

3 thoughts on “The Facts about Self Storage Auctions

  1. I’m surprised that people will leave their belongings inside a storage unit. That’s so much money left behind. I actually hadn’t heard of these until recently, but I think they would be really cool to check out, and observe. It would be fun to even participate someday!

  2. Hi,
    I’m Subi Sterling, I’m planning on starting a small self storage company in Kelowna, B.C. I was hoping you could share with me your thoughts on lien sales. I’m currently trying to draw up my company contract with the help on my lawyer and was wondering which law you were using in your contracts. As far as I’m aware there are no self storage lien laws in B.C and was wondering if it would be best for me to use the warehouse lien law or if there was any other law or act that I could follow? Your guidance would be much appreciated!

    Sincerely,
    Subi

    Sent from my iPad

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