What is a Mini Storage Auction (or Mini Storage Auction)?
Mini storage facilities or any other storage units ZH Brilliant Storage are designed to keep a person’s belongings safe and secure. It could be a short strip of mini storage units or a large sectioned warehouse. The unit management fee is paid by the owner to ensure their belongings remain safe and secure.
Mini storage space owners who fall behind in rent payments will be notified. They must pay their rent on time. If the owners do not pay the rent on time, management can take legal action to recover the losses. They will initiate the process to sell the contents. The management of the facility will need to fill out and record several documents. The management must announce that they are auctioning off the contents in a public notice at least 2 weeks before the auction. There is a legal process they must follow. It is not usually necessary if the renter is one month behind. The entire purpose of selling contents is to recoup storage rent costs.
After the mini-storage auction has been properly advertised, the auction date will be set. People will come and register to bid on mini storage items. The auction will follow. After paying the winning bidding amount, you will be the highest bidder.
There are many ways to hold mini storage and self storage auctions. Some require that you sign up to receive a number. Others may allow you to just raise bids. It’s important that you understand as much as you can about the auction before you participate. Many times, there are conditions that require the contents to be moved within 24 – 48 hours.
These mini storage units can hold a wide variety of items. You might find major and minor appliances as well as antiques and family heirlooms. You might also find boxes of jewelry or other valuable items, as well as surprises. You must bid below or equal to the transportation costs and resale prices in order to make a profit from a mini storage sale. The aim is to recoup your transportation costs and auction bid price via the resale. Any higher than those two costs combined is considered a win.