Despite the high auction money totals often bandied about on reality TV shows like Storage Wars, self-storage operators typically recoup much less then what they are owed on delinquent accounts, according to a recent survey conducted by the national Self-Storage Association (SSA). Overall, 47 percent of respondents indicated they are fortunate to get back 25 cents on the dollar for what is owed on unpaid rent and costs associated with processing a lien.
Regionally, self-storage operators in the Northeast recoup the least amount of auction-related revenue, with 31 percent garnering less than a dime for every dollar owed. Throughout the rest of the nation, the number of operators who recoup 10 cents or less on the dollar is about 20 percent.
The polling sample included responses from 400 self-storage operators across the nation. The survey carried a margin of error of +/- 5 percent.
- The Monday Morning Globe, 7/9/12: Self-Storage Association