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. Some facilities are also discovering that Storage Wars and its ilk are encouraging renters to pay their rent on time.
This makes sense. After all, Storage Wars is a popular show, and most of the people who tune in every week have no intention of bidding on a storage unit – but they may well be storing items of their own. Watching other people lose their units to eager bidders might gently remind these people that they need to take better care of their belongings.
There are several reasons why watching a storage auction TV show should reduce the number of delinquent tenants. The first is that tenants might not fully understand the consequences of delinquent rent. Even if the lien auction details are explained thoroughly in the rental agreement, it may not seem “real” to the renter. Seeing it in action, however, can underline the importance of paying rent on time.
Another reason is that renters might think twice about the value of their stored items. Most of the time, when a unit goes up for auction, it’s because the renter decided that the items being stored were not worth the cost of storing them. When the bill goes too high, the renter decides to abandon the contents of the unit.
However, when buyers on the TV are seen picking up ordinary-looking items from storage units and selling them at a substantial profit, it might make renters reconsider.
There might be some treasures hidden away in their units, after all, and recovering those items before someone else does is a good reason to pay rent on time. Of course, most units don’t have any hidden treasures, but even everyday household items can hold some value.
Embarrassment also plays a big role in encouraging tenants to pay rent on time. The knowledge that a stranger might see the contents of your unit, handle your personal belongings, resell your items and judge – even anonymously – is very motivating.
Altogether, the storage auction shows have definitely made a major impact on every aspect of the auction business. But even then, there’s no shortage of units for sale.
For every renter who abandons a unit willingly, there are always plenty of others who had no choice: Those who pass away, are imprisoned or experience sudden hardship. Though renters may be paying their rent more reliably, we’re unlikely to see an end to self storage auctions any time soon.
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