Storage units are some extra space you can use to store some of your belonging if you do not have enough space to keep them, especially during or after a move. They will require you to pay for the rented space regularly and should you default payment for a particular period; they declare your units abandoned and they may find a way of disposing of your items.
When renting a storage space, you must sign a storage rental agreement that dictates how many payments must be missed for your unit to be declared abandoned. If you miss one or two months of payment, the facility’s property manager will give you a grace period to allow you to complete your payments. They may follow you up through calls, letters and even local newspapers if your contacts are unreachable, to remind you to clear off your bills.
Confiscation of property
If the follow-up move is not successful, and they cannot get to you, then the management declares your units abandoned and confiscates your property. Usually, they will auction your items to help clear the unpaid rent. They will announce the auction in newspapers stating the date time and venue of the auction and invite interested people to come and participate.
Auction and selling
Everyone can attend the auction including the owner of the items. The facility opens the storage unit so that all the people can see the items and choose which ones they want. They will then place bids on the items of their choices, and usually, the highest bidder makes away with the item. Should the money acquired from the auction not be enough to settle the bill, the owner receives a billing invoice that they will be required to pay. If the bill is still not paid, they make forward it to a collections agency.
Sometimes, the units may contain illegal items that the state does not permit an individual to own. Such items cannot be auctioned to the public and usually the state police will confiscate the items.
Before renting a storage unit, always remember to evaluate your budget. Try to store as little property as you can so that it takes up the smallest unit possible that you are sure to afford the rental charges. You should check with the management often to ensure that they received your payments, and if you want a temporary storage unit, always set up a time limit to pick your items and stick to it.