Contrary to what some might think, storage facility owners don’t really want to hold auctions for delinquent units. As a facility owner, your bread and butter is the regular rent you receive from your tenants each month. Delinquent tenants disrupt that income, and putting their units up for sale is a time-consuming hassle. It’s especially…
If you’ve done any research into online storage auctions, you may know that storage units sold online tend to sell for more than their in-person counterparts. What you may not realize is that auctions held on OnlineStorageAuctions.com earn up to 25% more than auctions listed on competitor websites like StorageBattles.com. If you’re looking for a…
When you’re in the storage auction business, knowing the demographics of the tenants whose items you’ll be buying is an important part of gauging how much a unit might be worth. After all, affluent people tend to store more valuable items. In an effort to understand the trends behind storage auctions, we asked the question:…
Shows like Storage Wars have undoubtedly had an effect on storage auctions for buyers. Although the crowds of enthusiastic newbies have abated, storage auctions are still more mainstream than ever before. The larger crowds have caused prices to rise in some places. This isn’t the only change that’s come from the storage auction craze, however….
Technology is a huge part of our lives, and it affects the way businesses grow and develop over time – even the storage business. Although self-storage is a pretty low-tech business, a few recent changes in technology have helped change the face of the storage business for renters, facility managers and auction-goers alike. Here are…
Storage units go up for auction whenever their owners fall behind on payments. This means that, without delinquent tenants, there would be no auctions and no resale business. That makes some auction-hunters nervous about anything that might reduce the incidence of delinquency and the availability of units. Across the country, some storage facilities are choosing…
It’s no surprise that storage auctions have gone mainstream. A few years ago, these activities were unknown to all but a handful of bidders. Today, everyone has seen Storage Wars and feels qualified to talk about auction-hunting because of it. The implications for this boom in popularity have been long-reaching, and some of them are…
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…
Despite the protestations of a few old-timers in the business, it seems that online storage auctions are here to stay. This fairly new method of selling items has gained a lot of popularity and momentum recently, and for good reason. Online auctions earn higher bids and attract a wider variety of buyers. They’re also simpler…
