While the housing bust provided many self-storage operators with new customers, some are now having trouble collecting rent on those units.
Several self-storage operators in Florida report they’ve seen an increase in delinquent tenants, and are now holding more lien sales.
Bill Bell, manager of U.S. 41 Self Storage in North Fort Myers, Fla., said his facility tries to work with delinquent tenants to get them back on track. Lisa Strong, assistant manager at Community Self Storage in Cape Coral, said one of every 10 tenants is behind on payments.
Florida’s self-storage lien law requires weeks of posted notice, published notices, registered letters and other mandates before a tenant’s belongings can be sold at auction.