Lessons learned 50 lockers in…

After successfully winning over 50 lockers, I realized that there are a few unanticipated benefits I wanted to share with other bidders.

Firstly, I lost over 40 pounds by being more physically active processing lockers. I took it upon myself to learn what was involved in this endeavor; which lockers to bid on & how and where to market items from lockers. Continue reading “Lessons learned 50 lockers in…”

Legal Webinar

Mark Your Calendar…

StorageTreasures.com and OpenTech Alliance are excited to host this legal webinar in June. Joining us will be Attorneys Scott Zucker and Carlos Kaslow, General Counsel for the Self Storage Association.
If you are an Auction Buyer looking to understand online storage lien auctions a little better, you do not want to miss this presentation!
Legal Issues For Online Self Storage Lien Auction Bidders
June 14, 2017 2:00pm EST (11:00am PST)

Legal Webinar Series

StorageTreasures.com and OpenTech Alliance are excited to host a series of legal webinars in the upcoming months. Joining us on August 31st will be Attorneys Scott Zucker and Carlos Kaslow, General Counsel for the Self Storage Association and founders of the Self Storage Legal Network.

If you are a Self Storage Owner/Operator or Manager, you do not want to miss this valuable presentation regarding online storage lien auctions!

Best Legal Practices for Conducting Your Online Lien Sale

August 31, 2017 2:00pm EST (11:00am PST)

Continue reading “Legal Webinar Series”

Best Online Storage Auctions

Storage auctions can be a fun way to make some extra money, provided you know what you are bidding on and can make an informed decision about your strike price. The best online storage auctions are ones that provide the information you need and have a clear interface.

Personalization

The ability to build your own custom profile is important for more than just appearances. You want to be able to easily target certain geographical and product areas when searching for auctions. The more comfortable you are with your online auction interface, the more easily you will be able to bid and the more likely you will be to win some great hidden treasures.

Thorough Info

Obviously, you need the location and the current price of an item or storage unit that interests you. But you also need a transparent description of potential legal hassles you could stumble into, as well as a thorough rundown on the fee structure that applies when you win an auction and how long you have to pick up the contents of your unit. Further, it helps a great deal if the online auction site you use also lets you know how many auctions will occur in a given facility at around the same time.

Easy to Navigate

Navigation should be user-friendly, intuitive and easy to learn. Unfortunately, too many sites leave you wondering where you need to click and whether that click accomplished what you’re trying to do. Prompts should be clear, menus should be organized and bidding online should be as easy or easier than bidding in person. Sometimes the worst bid you could make is the one you never end up submitting because of a confusing interface.

Category Search

Searching by location is crucial, but many people forget that there are other useful search parameters and filters. For example, you can search for the best online storage auction websites for particular types of goods. Since self-storage facilities photograph and often catalog the contents of every unit, you can narrow down your results to the auctions and items that really interest you.

Prioritizing Active and Upcoming Auctions

Online storage auctions open opportunities to bid in more events than you could physically attend. While this provides options, it can also lead to burnout. When your auctions seem to be running together, breathe deeply and plan for the next few you want to be sure to bid upon.

Why Do Storage Facilities Host Auctions?

Storage facilities host auctions for a number of reasons. First, they need to recoup their losses. Second, they need to compensate the tenants for the possessions they sell. Finally, they need to clear out overdue units. It’s a lawful measure that appeals to facility owners and buyers alike. While you can benefit from receiving goods at a low price, everyone wins with auctions.

Reducing Labor

A self-storage facility that continually holds onto the effects of former tenants cannot sustain business. If more than a tiny proportion of the units in the facility become overdue and filled with unclaimed items, the building can begin to resemble a hoarder’s museum. Think of cleaning out the estate of someone who has passed away and left a home full of collectibles and junk, often with more of the latter and less of the former. By posting auctions, the facility can avoid this labor and the accompanying economic downturn.

Turning a Profit

Profits in a self-storage facility hinge on making money from every unit. In cases where the units are overdue and unpaid, the facility obviously has to cover its basic expenses while receiving no income for the trouble. The ability to turn a profit from an overdue unit is virtually nil, as people can move far away and ignore court orders to clear out their things or pay up. Selling the contents of the unit can compensate for unpaid rent, while any additional fees can satisfy taxation requirements and cover overhead costs beyond the facility’s break-even level.

Preventing Losses

Former tenants can appear in the middle of the night to empty out a unit and make off with the contents. This is why facilities promptly replace any tenant-added locks with their own once an account becomes overdue. However, with enough time a crafty former tenant can pry open even a well-secured unit. By hosting auctions in a timely manner, the facility can avoid taking a complete loss.

Compensating Former Tenants

Former tenants do have rights, even when their account with the facility is delinquent. Among these rights is the ability to receive compensation for their sold possessions. Their is a legal requirement that the facility cannot sidestep, and the only way is comply effectively is through an auction. Auctions allow goods to move into new hands, and for everyone to receive the compensation to which they are legally entitled.

Opening Space for New Tenants

New tenants are always arriving to rent storage units from a facility. In many cases, there are actually waiting lists for desirable units. When this list is held up by unpaid or overdue units, prospective tenants go elsewhere and the facility loses business. Hosting auctions whenever there are overdue units clears space, allowing new tenants in so that everyone benefits.

Explore a national network of storage auctions on storagetreasures.com. You’re sure to find something cool, and facility owners will thank you for moving it.

5 Reasons To Switch To Online Storage Auctions

Online storage auctions have emerged as a useful technology in our increasingly connected world. Whereas auctions used to be cramped and time-consuming, now you can virtually attend from anywhere on a much more flexible schedule. Here are five reasons to make the switch to online storage options:

1. Your Schedule

You have a lot to do with your day other than standing around in a self-storage facility with a bunch of sweaty buyers. You can probably think of more fun activities than craning your head around people, trying not to say anything about the value of a particular unit you have your eye on. Online auctions save you time. Most people don’t consider the drive to the facility, the drive home, and inevitably waiting around while the facility finishes up their paperwork in the back. These are all time sinks that are unavoidable at physical auctions, and time is money. If you value your time, doing storage auctions online makes a lot of sense.

2. More Options at a Glance

When you go to a self-storage facility, you will inevitably run into a limited number of auctions, each with a small number of items. You may not win any of them, but you still invest the time. With an online auction, once you have taken a good look and placed your best bid you can go check out other auctions. With a few clicks, you can look at storage units all over your area that would take hours to drive between. A few minutes on a website can open up far more options. It’s the next best thing to figuring out how to be in several places at once.

3. Greater Potential for Unit Review

When you walk into a live auction area, you have a small window of time to look at the unit before the bidding begins. This can mean obstructed views, having to tune out people chattering, and all kinds of other distractions. However, online auctions provide images and sometimes videos of the unit. You can slow down the video and replay it several times, getting a detailed view of the unit from angles you may not be able to get if you were there in person. You may discover something of value you hadn’t considered before.

4. Simplified Selling Analysis

Ultimately, most people who buy the contents of storage units intend to sell those contents. If you are interested in doing this, being online in a comfortable setting allows you to easily research and compare resale prices. This analysis will help you determine your optimal bid amounts.

5. Psychology

Auction psychology is crazy. People at a physical auction will bid far more than they should for a variety of reasons. By participating in online auctions, you avoid this atmosphere, so it’s easier to bid based on logic instead of getting caught up in a winning-obsessed emotional frenzy.

Ready to make the switch? Storage Treasures is your online storage auction HQ. Sign up today!