Asked by: Acracia Burgktechnology and computing data storage and warehousing
Why do storage lockers go to auction?
Last Updated: 1st April, 2020
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Also asked, why do they auction off storage units?
During astorage unit auction, the belongings of a storageunit are auctioned off to the highest bidder to recoupthe loss of rental fees. Generally this process is conducted via alive auction where bidders place their bids aloud as theproperty within each unit is auctionedoff.
Also, can I auction off my storage unit? It's possible to sell everything in your storageunit at once, though you may not get much money for thecontents. Renters who don't pay their bills for storage findtheir possessions auctioned by the owners of the selfstorage facility. You can hire these auctioneers tosell your unit.
In this manner, how long before storage lockers are auctioned?
There's a set period of time in between going intodefault and going off to auction. It's usually between 30-90days, but check your state's lien laws for an accurate number. Ifyou live in an area where storage units are scarce and inhigh demand, don't expect your storage facility to waitmuch longer than that.
Do storage units report to credit?
But that doesn't mean that a storage unit has norelationship to your credit. Traditionally, storageunits can only hurt your credit if you stop paying yourbills. If you don't pay your storage bills, eventually youwill go to collections. This will be reported on yourcredit report and your credit score will godown.