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What Is A Storage Auction?

Storage Auction

Storage unit auctions are the method most storage facilities use to evict tenants who have gotten behind on their payments, recover lost rent and fees and have the property removed from the unit so they can rent the space in the future. Most storage facilities allow a 90 day grace period in which the tenant can get current on their back rent. During this period, the facility attempts to contact the tenant by phone, email, traditional mail and certified letters. Notices of the intent to sell the tenant's property at public auction are placed in a newspaper of general circulation in the county where the storage facility is located. If the delinquent tenant does not make a payment by the auction date, the storage unit is sold to the higher bidder. Once the unit is payed for and the purchaser has a bill of sale, the contents of the storage unit are then legally owned by the purchaser. Typically, the purchaser has 48 hours to remove the contents.