In the wake of the coronavirus pandemic, self-storage owners and managers quickly jumped into action to modify their sites and operating procedures, not only to keep everyone safe, but to assist employees and customers who are facing financial hardship as a result of the crisis. One step many took was to suspend all late fees and halt auctions for units that fell into delinquency. Now that months have passed and states are beginning to reopen, many storage operators are wondering when it’s acceptable to resume “business as usual,” or what other methods of remedy might be available for past-due tenants.
In this thread on Self-Storage Talk, the industry’s largest online community, members are discussing their plans for reinstating late fees and lien sales, and how they’re communicating with delinquent tenants. See what others are doing and add your own thoughts.