Many people make their money by buying mini storage units at auction and then selling them. This is a great opportunity to make some extra cash. However, you need to be familiar with the auction process and all the possible risks.
Public storage auctions occur when someone isn’t paying their bill. They are behind on mini storage payments. They’ve been notified by the management that it will be auctioned and have not replied. At that point, mini storage unit managers will make public announcements about the mini-storage auction. It will include the location and the number of mini storage units. You may need additional information.
Management of many storage units involves selling the contents to recover the nonpayment loss. Auctions are held where the entire storage bay, which contains many different units’ contents, is up for auction. You want to be able to see what you are bidding on.
Sometimes, you will be permitted to inspect the contents before making an auction bid. Other times, you won’t know what’s in the storage unit. People store many items in their storage units. These include furniture, clothing, jewelry, household appliances and small appliances. While you might not know what is inside, it’s almost certain that someone loved it.
Mini storage auctions are a great way to start your bids. However, if you become too excited and decide to bid on the item, be sure to have an idea of what you can afford before you go. Also, it’s best to arrive early to the auction so you have time to register for a number or to understand the basics of the auction. It will also give you the chance to ask questions. If your arrival is too late, everyone will be busy so you won’t get time for any.