ONLINE AUCTIONS – The best-known auctions for property left abandoned at self-storage facilities take place in person, on site, with a real-live auctioneer.
Some of those auctions have started moving online, however, and more than a few people are concerned that the auctions might not be on the up-and-up.
The same potential problems that occur with online auctions can also occur with live auctions, says Lonnie Bickford, who owns a storage facility in Louisiana. Buyers, as well as facility owners trying to sell items, simply need to take the same precautions with an online auction as they would in person.
Bickford offers some tips: Pay attention to the invoice that you receive from the auction website to make sure you receive the correct contents, and not those from a different unit. Cross-reference photos to make certain the site has assigned the correct goods to the appropriate buyer or seller.
As long as you do these things, an online auction can work just as well as an in-person auction, Bickford says.
HOME AWAY FROM HOME – Sometimes people fall on hard times and can’t make their monthly rent payment. When that happens, you run the danger of being evicted from your home.
Many people faced this situation move into their self-storage unit as a temporary fix until permanent shelter can be found. Unfortunately, there are some jurisdictions that don’t look favorably on those arrangements.
When a Missouri storage facility owned has found self-storage squatters, he’s been referring them to a local homeless shelter or social-service agency.
GOING UP? – What’s the latest trend in the design of self-storage facilities? Build vertical, of course.
In East Tennessee, several new self-storage facilities are under construction that look more like office towers than the sprawling storage facilities of yore. A facility that’s three stories tall isn’t uncommon.
“By going vertical, developers are able to pay more for high-profile sites that have strong visibility, a key factor for success,” real estate broker Josh Flory wrote for USA Today Network.