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, Maryland and North Carolina, revamping their lien laws in October of 2013.
The laws are changing in response to pressure from the national Self Storage Association, which works to improve the storage industry for facility owners and storage renters alike.
Previously, storage facility owners in Oregon were required to list auction notices in the local newspaper and hold a live lien auction in a public location. Now, beginning with the new year, Oregon will have similar laws to other states that allow online auctions:
Storage facilities can hold auctions on any publicly accessible auction site
Facility owners can impose a fee of $20 or 20% of the late rent for each month of delinquency
Delinquent tenants can be notified of a potential lien sale via email in addition to other contact methods
Abandoned vehicles and boats can be towed after 60 days on the property
Online storage auctions are more convenient for buyers and sellers alike. Internet technology has made it easier than ever to advertise sales and hold auctions without many of the hassles of a traditional sale.
By utilizing an online auction site like OnlineStorageAuctions.com, a storage facility can sell off its abandoned units quickly and easily. As more states begin to change their lien laws to keep up with the changes in the industry, online auctions will become the new standard for the business.
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