Anyone who wants to sell other people’s belongings in auctions to rent storage units has no other motive than to make money read this. The state lien laws support the practice of auctioning off the contents in storage units when the lessees of those units are behind several months on their payments.
Participants at mini storage or auctions of storage units need not be concerned as the lien law also protects lessors’ rights by providing time constraints within which the lessee can pay their arrears. Also, it provides for a minimum duration for unpaid rentals and proper payment demands and notices of auction. While it may be tempting for lessors that have unpaid rentals to try and buy back the possessions they value in storage unit auctions, this isn’t always a good idea. The lien laws allows them to pay off their obligations up until the start of auction.
It is worth it to bid on storage units and then haul the unit contents where you want to? Even though you won’t always win at these storage unit storage auctions nor will you get a container with expensive items you can resell all of the time, some auctions could pay for your investment. There are documented examples where people have made a hundred-fold return on their investment.
If you want to earn money off your auction winnings you will need to pay special attention to how you conduct yourself before, during and even after the sale. Remember that you’re in the auction to make money and not to spend too much on overhead. Make sure you know the contents of the unit that you plan to purchase so that you can set your bids accordingly. This will give you a good margin to work with once you have finished sorting out your winnings at storage auctions.