Storage Unit Auctions

Many of you have seen television shows about storage unit auctions, but what happens in the months prior to the auction? Here is a summary of the process and how it works.

 

I just got a letter that my storage unit is being auctioned, what happened?

 

If you pay your bill, your unit cannot be sold via an auction. If you don’t pay your bill on time, you will start to receive some notices in the mail.

  • First Late Notice (sent around the 7th of month)
  • Second Late Notice (sent just before the middle of the month)

When you receive the second late notice, this is also know as the overlock stage. A storage operator can disable your lock or place another lock on your unit.

 

If your unit is delinquent three consecutive months you will reach the Lien Stage. At this point the steps to auction off the contents of your storage unit will begin. They are as follows:

  • First Notice of Public Auction – delivered via us mail
  • Second Notice of Public Auction – delivered via a letter with a certificate of mailing
  • Your Storage Unit is Inventoried – pictures or a video of the contents
  • The Auction of Your Unit is Placed in the Newspaper – a description of the contents and the unit number/location
  • The Storage Unit Auction Takes Place – auction may be in person on online