Can you really buy abandoned storage units?

Can you really buy abandoned storage units?

The price of abandoned units can range from $25-5,000, so only take the cash that you’re willing to spend. Most storage facilities only take cash payment for their units, but it’s still a good idea to only bid cash even if they accept credit cards or checks. On rare occasions, the prices can exceed $5,000.

Are self-storage auctions Legit?

When a storage auction occurs, the self-storage operator only gets to keep the amount it is owed with any excess auction proceeds going to the renter. Scammers know exactly what auction bidders are looking for and they stage their units to give the illusion of hidden value. …

How do storage auctions work?

How do storage auctions work? After a storage unit has been abandoned or gone into lien, self storage facilities may schedule an auction to clear out items. An auctioneer is brought in, and the units are auctioned off to the highest bidder.

When storage units are abandoned?

Once the unit is considered abandoned, the contents become the facility’s property. Usually, an auction will be held, open to the public, to compensate for the unpaid rent. Depending on the laws in that area, the facility will usually place an ad in the local newspaper announcing the auction’s date, time and location.

Does abandoning a storage unit hurt your credit?

Re: Would not paying your storage unit get reported on credit score? Yes. The storage facility has to go to court to get the lock off and your things cleared out, and the court action will appear on your report.

What happens if you cut a lock off your storage unit?

First things first: you cannot cut your lock off. This includes bolt cutters. Simply put, you could inadvertently cause damage to the hasp or the door. You are responsible and will be billed there is damage.

What happens if you lose the key to your storage unit?

You may contact your local A-1 Self Storage, and one of our experts will be happy to assist. We can recommend a licensed and reliable locksmith along with his phone number so you can get in touch with him. 3. You may also call a professional locksmith on your own, but you need to stop by the office.