While other states are developing laws to streamline the lien auction process, New York Senator Tony Avella is working to create laws that could be very unfavorable to storage facility owners and auction hunters. The bill was introduced on January 8. It proposes several new changes to the way storage auctions are handled in the…
Great news! We recently acquired OnlineStorageAuctions.com, the premium exact-match domain for the online storage auction niche. As a result, we have reorganized two of our existing properties under the new domain: VirtualStorageAuction.com, a free online auction service, and StorageAuctionForums.com, the web’s largest storage auction website and discussion forum. At present, Storage Auction Forums contains more…
Slowly but surely, state laws are beginning to catch up with modern technology when it comes to storage auctions. Starting January 1, 2014, Oregon will join the growing ranks of states whose reformed lien laws allow auctions to be held virtually rather than in person. This news follows on the addition of two other states,…
The laws governing storage auctions have been slow to adapt to new technology. Many states are still operating under laws written in the 1980s or earlier, and they can seem very outdated today. In many states, auctions are required to take place in a live location and be advertised through a local newspaper. With the…
As of October 2013, North Carolina has joined the growing list of states whose legislature allows lien sales to be held over the Internet. Until now, storage auction facility owners were required to follow an outdated law that mandated all sales be made in person through live storage auctions. Now, with Governor Pat McCrory signing…
Last week, we mentioned a case in Detroit where a man who found child pornography in a storage unit was subsequently arrested for impeding a criminal investigation. More details have been uncovered in this case, including the man’s own arrest history and the arrest of the original tenant of the storage unit. On July 20th,…
Thousands of clothing items have been claimed by the Internal Revenue Service from an Alabama business that failed to pay its taxes. Details on the debtor have not been released, but the auction inventory includes thousands of brand-new clothing items including shirts, paints, glove liners and scrubs, all of which are made from a moisture-wicking…
A storage auction in New Zealand recently uncovered a rare musical instrument worth thousands of dollars hidden amongst a pile of otherwise worthless junk. The instrument in question is a 36-string lute made in 1926. Lutes are relatively obscure instruments resembling mandolins, and they have not been in favor since ancient times. This one, however,…
Storage facilities in Colorado have an easier time holding auctions now due to a change in the way the state’s lien laws are written. The bill, which was passed in mid April, lifts the previous requirement for storage facilities to contact their tenants through certified mail or post storage auctions in newspapers prior to holding…
Financial reports from the real estate industry for 2013 show that storage facilities and shopping malls are the most profitable types of real estate investments. In fact, the growth of storage facilities exceeded the expectations of The Wall Street Journal. In the U.S., there are four primary storage facility real estate investment companies: CubeSmart, Extra…
