What to Know About Storage Auctions

The popularity of storage auctions has grown over the years all thanks to some popular reality TV shows. What the TV shows don’t show you is what you actually need to know when it comes to storage auctions. We at Elite Storage in Lafayette want you to be informed as to how our storage unit auctions work.

 

Not Every Unit is Valuable

While you might get lucky occasionally, you shouldn’t go into a storage unit thinking you are going to find a gold mine. You might be able to find a few things you can sell for a profit in a storage auction but the reality TV shows make it look like it happens more often than it does.

 

It’s not impossible to see Inside a Storage Unit

Even though you aren’t allowed physically in the unit, you are allowed to look in it. This will give you a pretty good idea of the stuff that you will be bidding for. It is always a good idea to bring a flashlight so you can see all the way to the back of the unit.

 

Bring Cash

If you are going to be placing a bid on a unit you need to have cash in hand. Make sure you bring enough for sales tax and the cost of cleaning the unit as well. Check with the facility manager to see what the fees are.

 

You can’t keep Memorabilia

While you can keep what you buy in a storage unit auction, some facilities will ask you to return any personal memorabilia you find in the unit such as photo albums or family movies.

 

Storage Facilities Don’t Make a Profit

Storage facilities are required by law to only keep the amount that is overdue in rent and the costs of having the auction. The money generated over this amount is given to the tenant of the unit.

 

Be Prepared to Empty the Unit

It is standard with most auctions that you have until the end of the day to clean out the unit you purchased. Occasionally you can rent out the unit for a month or so to have time in emptying out the contents, you just have to check with the facility manager.

 

For more information about storage auctions make sure you stop by Elite Storage in Lafayette. We can provide you with upcoming storage auction dates and even give you a good deal on a storage unit.