When a self-storage tenant falls behind on rent, getting him caught up can be challenging. While some customers are able to bring themselves current, others end up in lien-sale status. Auctioning a tenant’s belongings allows facility operators to recoup some of that lost revenue and clear out the unit for a new rental. But what happens when the past-due customer is among the sale bidders?
In a recent thread on Self-Storage Talk, the industry’s largest online community, a member is discussing the above scenario and contemplating possible outcomes. Her customer owes about $600 and has vowed to make a play for her belongings at auction. Is this allowed? Should the other bidders be informed? What if the lien sale doesn’t reach the amount owed? Members are sharing their own thoughts and strategies. Read their advice and join the conversation.